Federal Family Education Loan Program (FFELP)

The Federal Family Education Loan Program (FFELP) is a set of guaranteed federal student loan programs that includes the Federal Stafford Loan (subsidized and unsubsidized) and the Federal PLUS (parent loan) programs. The source of funds for the Federal Family Education Loan Program is private capital from banks, savings and loan associations, credit unions and other lending institutions. The FFELP is administered by guaranty agencies which, with the backing of the federal government, insure lenders against loss should a borrower default on the loan.

If a student is interested in borrowing a Federal Stafford Loan (subsidized or unsubsidized) or a Federal PLUS Loan, you must meet with your Financial Assistance Counselor at Southern to attend a Loan Entrance Interview and sign your loan promissory note. Please contact your financial assistance office for more details about this process.