The Federal Family Educational Loan Program (FFELP) was created in 1965. It is a public-private partnership and is the largest federal loan source for students and families needing assistance in paying for postsecondary education. Through the Federal Family Educational Loan Program (FFELP), students without any income or credit history can get low-interest loans. The Federal Family Educational Loan Program (FFELP) is popular with schools. Most schools prefer the FFELP over the Federal Direct Student Loan Program (FDSLP), which is the other type of federal student loan program. The FFELP allows borrowers to choose their lenders, which include nonprofit, private and state-based agencies and institutions like banks, credit unions, small firms, and more. The Federal Family Educational Loan Program (FFELP) lenders often offer financial education to students and their families through college awareness programs, money management workshops, and more. The Federal Family Educational Loan Program (FFELP) includes Federal Stafford Loans (the most common student loans), Parent PLUS loans (Parent Loans for Undergraduate Students), and Federal Consolidation loans. Federal Stafford Loans are most common; Subsidized and Unsubsidized Stafford Loans are available. PLUS loans are open to parents who need assistance paying for their kids’ education. Federal Consolidation loans consolidate federal education loans into a single loan. After a student applies for financial aid through the Free Application for Federal Student Aid (FAFSA), the student’s school offers a financial aid plan to the student. This plan may include the Federal Family Educational Loan Program (FFELP). If so, the student guided by the financial aid office, chooses a lender. Repayment of the loan starts six months from the time the student leaves the school. There are many repayment options open to Federal Family Educational Loan Program (FFELP) borrowers.