Federal Loan Repayment
Prior to July 1, 2010, students at Fordham Law borrowed their Federal Stafford and Grad PLUS Loans from a bank or other lending institution, such as Citibank, Sallie Mae or Access Group, through the Federal Family Education Loan Program (FFELP) . These are FFELP loans.
After July 1, 2010, students borrowed these same loans directly from the Federal Government through the Department of Education. These are Direct Loans. As an undergraduate, you may have borrowed FFELP Loans or Direct Loans, depending upon the School attended.
It is important to distinguish between the two types of loans, particularly if you plan to take advantage of the Pay As You Earn (PAYE) Repayment option and/or the Federal Public Service Loan Forgiveness Program since only Federal Direct and Federal Direct Consolidation Loans qualify for each. Both Day and Evening students graduating in 2014 who borrowed through the Federal loan programs borrowed Direct loans.