Federal Family Education Loan Program
CSFA Number: 691-00-1391
Agency Name
Illinois Student Assistance Commission (691)
Agency Identification
0011
Agency Contact
Scott Taylor
217-782-0503
scott.taylor@illinois.gov
Short Description
The Federal Family Education Loan (FFEL) Program is authorized by Title IV, Part B, of the Higher Education Act of 1965, as amended (20 USCA 1071 et seq.), and is administered by the United States Department of Education (ED), guaranty agencies, educational institutions and lenders.

The passage of the Student Aid and Fiscal Responsibility Act in 2010 ended the FFEL Program and moved all future student loans into the Direct Loan Program administered by the U.S. Department of Education. Effective July of 2010, no new FFELP loan disbursements have been made.

The CFDA for the Federal Family Education Loan (FFEL) Program is 84.032. This CFDA's last appearance in the Catalogue of Federal Domestic Assistance is in the Historical Index under 2012: Archived. It is presently not active on the CFDA web site.

The CFDA cited below (64.117) appears on the CFDA when 84.032 is entered because of a crosswalk on the CFDA web site. ISAC does not administer Survivors and Dependents Educational Assistance (CFDA 64.117).
Subject Area
Education
Program Function
Education
Enabling Legislation
110 ILCS 947/80 through 175 and 20(f)
Title IV, Part B, of the Higher Education Act of 1965 as amended (20 USCA 1071 et seq.)
Types of Assistance
Guaranteed/Insured Loans
Uses and Restrictions
The passage of the Student Aid and Fiscal Responsibility Act in 2010 ended the FFEL Program and moved all future student loans into the Direct Loan Program administered by the U.S. Department of Education. Effective July of 2010, no new FFEL Program loan disbursements have been made.

ISAC continues to function as a guaranty agency in the FFEL Program. As such, the agency receives payment for a variety of services related to federal student loan collections, fulfilling responsibilities to borrowers, lenders, and the federal government.
Eligibility Requirements
a) Prior to July 1, 2010, applicants could apply for a loan guarantee by submitting a common ED-approved application form or through a comparable electronic process in accordance with federal law. (See 15 USC 7001 et seq.)
b) Borrower eligibility requirements for guaranteed loans are established by federal regulations (34 CFR 682.201).
Eligible Applicants
Individuals;
Regulations, Guidelines, Literature
The Federal Family Education Loan Program is exempt from the Uniform Guidance (2 CFR 200) and the Grant Accountability and Transparency Act (30 ILCS 708) under Section 101 because it is a loan program.
Funding By Fiscal Year
FY 2015 : $290,000,000
FY 2016 : $261,000,000
FY 2017 : $260,000,000
FY 2018 : $230,000,000
FY 2019 : $200,000,000
FY 2020 : $190,000,000
Federal Funding
Notice of Funding Opportunities
None
None