FFEL Program Loans
A legacy federal loan program — no new loans since July 1, 2010 — but roughly 7.3 million borrowers still hold outstanding FFEL balances totaling about $165 billion.
The Federal Family Education Loan (FFEL) Program was a federal student loan program that provided loans to undergraduate and graduate students, as well as parents of dependent students. Although the Department of Education stopped issuing new FFEL loans on July 1, 2010, millions of borrowers continue to carry outstanding FFEL balances. If you took out an FFEL loan before that cutoff date, you may still be repaying one today. The specific terms and conditions of FFEL loans can vary, so borrowers with these loans should verify current details through studentaid.gov.
Who it's for
Borrowers who attended school before July 1, 2010. The Federal Family Education Loan (FFEL) Program ended on that date — no new FFEL loans are made. This page is for people who still carry FFEL balances and need to understand their options. If you're not sure what type of loans you have, log in at studentaid.gov with your FSA ID and select 'My Aid' to see your loan types.
How the interest rate is set
FFEL Program loans were issued with fixed interest rates set by federal law at the time of disbursement. Each borrower's rate is locked in from when the loan was made. Because no new FFEL loans are being made, only existing borrowers are affected; check your servicer's statements or studentaid.gov for your specific rate.
How much you can borrow
FFEL loan amounts were set by the same annual and aggregate borrowing limits as the Direct Loan Program at the time — based on year in school, dependency status, and type of program. All FFEL loan making ended July 1, 2010, so no new borrowing is possible under this program.
Key terms at a glance
| Loan type | Federal (FFEL Program) — NO NEW LOANS since July 1, 2010 |
| Approximate outstanding portfolio | ~$165 billion across ~7.3 million borrowers (as of Dec 2024; see studentaid.gov for current data) |
| Loan holder | Either commercially held (by a bank/guaranty agency) or ED-held (purchased by U.S. Dept. of Education) |
| Income-driven repayment | Commercially-held: eligible for IBR only; ED-held: also eligible for IBR |
| PSLF / most forgiveness | Not directly eligible — consolidation into a Direct Loan is required |
| Interest rate | Fixed; set at disbursement (varies by year issued) |
Pros and cons
Potential advantages
- Existing borrowers may be eligible for Income-Based Repayment (IBR) — the one IDR plan available to FFEL borrowers without consolidating.
- ED-held FFEL loans have access to certain federal relief measures that commercially-held FFEL loans may not.
- Consolidating into a Direct Loan can unlock additional repayment plans and Public Service Loan Forgiveness — though see the 2026 OBBBA caveat.
Things to watch
- Commercially-held FFEL loans do NOT qualify for PSLF or most forgiveness programs unless consolidated into a Direct Consolidation Loan first.
- The only income-driven plan available to FFEL loans without consolidation is Income-Based Repayment (IBR).
- If you consolidate FFEL loans on or after July 1, 2026, you must enroll in the Repayment Assistance Plan (RAP) if you also have any new loans — IBR is only available if you have no new loans disbursed on or after that date.
- No new FFEL loans are available — borrowers who need federal loans today use Direct Loans instead.
Sources: Federal Student Aid — What to Know About FFEL Loans; Federal Student Aid — One Big Beautiful Bill Act Updates; Federal Student Aid — Federal Student Loans; CFPB — Student Loans. Federal loan details follow U.S. Federal Student Aid (studentaid.gov); always confirm current rates and limits there.
Compare your ffel program loans and refinance options
Want help weighing your choices? Tell us a little about your situation and we'll help you compare student-loan and refinance options from vetted partners. It's free, with no obligation — and we never sell your personal information.
Compare student loan & refinance options →Frequently asked questions
How do I find out if I have FFEL loans?
Log in to studentaid.gov with your FSA ID and select 'My Aid.' Each loan is listed with its type. FFEL loans will be labeled as 'Federal Family Education Loan' or show a lender other than the U.S. Department of Education. You can also check with your loan servicer.
Do I need to consolidate my FFEL loans?
Not necessarily — but consolidation into a Direct Loan is required if you want to access PSLF, most forgiveness programs, or income-driven plans beyond IBR. Weigh the benefits against the trade-offs (consolidation resets progress toward forgiveness on the loans you combine, and post-July-2026 new-enrollee IDR options have narrowed). Verify current options at studentaid.gov before consolidating.
Can I get PSLF with FFEL loans?
Not directly. Commercially-held FFEL loans are not eligible for Public Service Loan Forgiveness unless they are consolidated into a Direct Consolidation Loan. If you consolidate, be aware of the OBBBA IDR plan changes: post-July-2026 consolidation loans with any new disbursement on or after that date are limited to RAP for income-driven repayment. Confirm the current rules at studentaid.gov.