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The college your student attends may participate in either the Federal Family Education Loan Program (FFELP) or the William D. Ford Federal Direct Loan Program (Federal Direct Loans). Each offers the same educational loan programs, including Federal PLUS Loans, with the same general terms, conditions, interest rates, benefits and loan amounts. The main difference between them is that the government funds Federal Direct Loans, and lending institutions fund the FFELP. Although some colleges offer both, you and your student may borrow only under one program during an enrollment period. The Federal PLUS Loan program under which you borrow also depends on the college your student attends. Check with the college to find out through which program you or your student may borrow, and what needs to be done to apply for a loan.
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