Federal Loans
Students and parents are eligible for federal student loans to help meet the cost of a post-secondary education. Under the Federal Family Education Loan Program (FFELP), students and parents obtain loans from lenders, and to protect the lender from loss, the loan is guaranteed by a guaranty agency.
HESAA is a guaranty agency and we work with lenders, schools, students and parents by
- Providing information about student loans
- Confirming student and borrower eligibility for the loan
- Counseling borrowers about loan obligations
- Preventing defaults
- Collecting on defaulted loans
There are several types of FFELP Loans
Some schools participate in the William D. Ford Direct Loan Program. Under this program, students and parents obtain their loans directly from the U.S. Department of Education. There are no lenders or guarantors in the Direct Loan Program.
Check with the Financial Aid Office at the institution you plan to attend to learn what program the school uses.
Get more information on Federal Loans at Federal Student Aid.