FFEL Program (Federal Family Education Loan Program)

The Federal Family Education Loan (FFEL) Program was a U.S. government initiative that provided federal loans to students for higher education. Originally, private lenders issued these loans, but the government guaranteed them against default, offering favorable terms to students. The program helped many access college financing by reducing risk for lenders and offering borrower benefits. However, it was discontinued in 2010, and new loans are now made directly through the Federal Direct Student Loan Program. Existing FFEL loans remain valid, with repayment options managed by federal agencies, aimed at making college more affordable and accessible.