A Federal Family Education Loan Program (FFELP) loan is a type of federal student loan that was available from 1965 until it was ended in 2010. The program was a system of private student loans that were subsidized and guaranteed by the United States federal government. In the FFELP, private lenders made federally guaranteed student loans to parents and students. Commercial lenders would use their private capital to finance loans under the FFELP but received subsidies from the federal government. These subsidies were used to maintain interest rates at the federally mandated levels, pay down fees associated with the loans, and cover expenses associated with collection and defaults. The FFELP offered four types of loans: the subsidized Federal Stafford Loans, unsubsidized Federal Stafford loans, the Federal PLUS Loan for graduate students and for parents of dependent undergraduate students, and consolidation loans.htm). Although the federal government ended the FFELP, there are still about 9.2 million borrowers with outstanding FFELP loans totaling $208 billion, as of Dec. 31, 2022, according to the Education Department. Borrowers with FFELP loans may want to consolidate to take advantage of more student loan benefits, including Revised Pay As You Earn income-driven repayment and Public Service Loan Forgiveness.