The Federal Family Education Loan Program (FFELP)

What is FFELP?

FFELP is the private sector student loan program that makes higher education affordable and accessible for millions of students and their families.

• Today, more students depend on student loans to finance their education than ever before.
• Roughly 78% of all student loans, more than $50 billion in academic year 2004–2005, was provided under the FFELP.
• Since 1966, more than 155 million loans have been issued under the FFELP, representing more than $512 billion in federal student loans. (U.S. Department of Education)
• The demand for student loans is expected to continue to grow. According to projections made by the Department of Education, federal student loan volume is expected to grow to nearly $64 billion in FY2009.

Source: www.studentloanfacts.org.

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