Definitions for "FFELP"
Federal Family Education Loan Program. The Federal Family Education Loan Program (FFELP) includes the Federal Stafford Loan (Subsidized and Unsubsidized), the Federal Perkins Loan, and the Parent Loan for Undergraduate Students (PLUS). Private lenders, such as banks, credit unions, and savings & loan associations provide the funds for these loans. These loans are guaranteed against default by the federal government.
FEDERAL FAMILY EDUCATION LOAN PROGRAM. The FFELP includes Subsidized and Unsubsidized Federal Stafford Loans, Federal PLUS Loans for parents and Federal Consolidation Loans. The loans are provided by private lenders, insured by guaranty agencies and backed by the federal government.
FFELP stands for Family Federal Education Loan Program. FFELP lenders are authorized by the federal government to administer federal student loans, including Stafford and PLUS Loans.