Ford Federal Direct Loan (Direct Loan) Program Federal Family Education Loan (Ffel: Fill & Download for Free

Hope you’ve already done some research adn you’re currently reading ingormation in this link: Public Service Loan ForgivenessThe Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.It is not clear what your situation is or whether you have made the necessary filings/inquiries - but no one else will do it on our behalf: you list nothing about that “diplomat” or their service or the type of the loan they have (information below, from same link).Which types of federal student loans qualify for PSLF?A qualifying loan for PSLF is any loan you received under the William D. Ford Federal Direct Loan (Direct Loan) Program.You may have received loans under other federal student loan programs, such as the Federal Family Education Loan (FFEL) Program or the Federal Perkins Loan (Perkins Loan) Program. Loans from these programs do not qualify for PSLF, but they may become eligible if you consolidate them into a Direct Consolidation Loan. However, only qualifying payments that you make on the new Direct Consolidation Loan can be counted toward the 120 payments required for PSLF. Any payments you made on theFFEL Program loans or Perkins Loans before you consolidated them don’t count.If you have both Direct Loans and other types of federal student loans that you want to consolidate to take advantage of PSLF, it’s important to understand that if you consolidate your existing Direct Loans with the other loans, you will lose credit for any qualifying PSLF payments you made on your Direct Loans before they were consolidated. In this situation, you may want to leave your existing Direct Loans out of the consolidation and consolidate only your other federal student loans.If you don’t know which types of federal student loans you have, log in to My Federal Student Aid to get that information. Generally, if you see a loan type with “Direct” in the name on My Federal Student Aid, then it is a Direct Loan; otherwise, it is a loan made under another federal student loan program.

The Health Care and Education Reconciliation Act of 2010 ended the role of private lenders in making new federal education loans. Since July 1, 2010, all new federal education loans have been made through the William D. Ford Direct Loan program and no new loans have been made through the Federal Family Education Loan Program (FFELP), also known as the federally-guaranteed student loan program. The loans in the Direct and FFEL programs were almost identical, except for the source of funds. So contrary to popular characterizations, the legislation did not end a private loan program, but rather private lender involvement in a federal loan program. Private lenders can still offer private student loans without a government guarantee, and many still do, as can be seen at www.finaid.org/privatestudentloans.

Who is actually the lender on a federal student loan? Is it a bank loan guaranteed by the government?There are two types of federal student loans:Federal Family Education Loan Program (FFELP)William D. Ford Federal Direct Student Loans (DL)FFELP loans were made by banks and other financial institutions, subject to terms set by the federal government as mandated by Congress, with a government guarantee against default. The FFEL program ended on June 30, 2010.The Direct Loan program started in 1993. These loans are made by the U.S. Department of Education with funds from the U.S. Treasury Department. With the end of the FFEL program in 2010, the federal government switched to 100% direct lending.