Timing of Final FFEL Loan Disbursements Addressed
June 17, 2010
As the Federal Family Education Loan (FFEL) program draws to a close, questions have arisen related to disbursements before and after June 30. Answers are provided in a Dear Colleague letter (GEN-10-10) from the Department of Education.
Under the SAFRA Act enacted in March, no new FFEL loans may be made after June 30. Most FFEL loans, however, are disbursed in two installments. The Dear Colleague letter walks through various scenarios on timing of first and subsequent installments and provides guidance to institutions and lenders.
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