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The Department of Education explains that the FFEL program was a program that worked with private lenders to provide education loans guaranteed by the federal government and ended in 2010.
Similar loans are now provided under the Federal Direct Student Loan Program, which are federal loans issued directly by the United States Department of Education. The FFEL was initiated by the Higher Education Act of 1965 and was funded through a public/private partnership administered at the state and local level. In 2007-08, FFEL served 6.5 ...
It's also available for some parents who borrowed through the Federal Family Education Loan program. ... debt canceled after 10 years if they're in the Public Service Loan Forgiveness program ...
To date, the loan forgiveness approved by the Biden-Harris government totals $136.6 billion in aid for 3.7 million American borrowers, according to the U.S. Department of Education (ED).Relate
Most federal loans are eligible, including undergraduate and graduate direct loans, Parent PLUS and grad PLUS loans and consolidation loans. Federal family education loan (FFEL) program loans held ...
Borrowers with commercially owned Federal Family Education Loans (FFEL) and other non-government-held federal student loans must consolidate them via the federal Direct consolidation program ...