The Student Aid and Fiscal Responsibility Act, or SAFRA, was signed into law by President Obama on March 30, 2010, and has greatly impacted the financial aid landscape. The most significant change that has resulted from SAFRA has been the elimination of the FFELP government assistance program, which allowed federal student loans to be provided [...]
in Federal Aid, News,
by Jeff Bullock
FFELP Student Loans are education loans that were provided via the Federal Family Education Loan Program that recently came to a close with the enactment of the Student Aid and Fiscal Responsibility Act, or SAFRA. The FFEL Program had been in existence since 1965, and had been a favorite of colleges, and other postsecondary institutions [...]
Direct Stafford Loans are federal student loans that are provided on an annual basis to both undergraduate, and graduate students. There are two Stafford Loans—the Direct Subsidized Loan, and the Unsubsidized Loan. The Direct Subsidized Loan is based upon need, and does not accrue interest while you are in school. The Unsubsidized Loan does accrue [...]