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What is the difference between FFELP and the William D. Ford Federal Direct Loan Program?

April 26, 2017FFELP loan program william d. ford federal

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What is the difference between FFELP and the William D. Ford Federal Direct Loan Program?

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In the Direct Loan Program, the U.S. Department of Education acts as a lender, providing funds for Stafford loans and PLUS Loans. With FFELP, students chose a bank or lender; the college then certified that students and parents were eligible for the loans and applied the loan proceeds to student accounts.