Federal Family Education Loan Program (FFEL Program)

A federal program authorized under Title IV of the Higher Education Act that provides loans to eligible student and parent borrowers. The program consists of Federal Subsidized and Unsubsidized Stafford Loans, Federal PLUS Loans, and Federal Subsidized and Unsubsidized Consolidation Loans. Funds are provided by private lenders such as banks, credit unions, and other private financial institutions. The loans are backed by the Federal government.