Web Page Tools

FFELP Purchased Loans

FFELP purchased loans are Federal Stafford and PLUS loans that lenders have made under the Federal Family Education Loan Program (FFELP) , but that are subsequently purchased by the Department of Education. These loans are commonly referred to as "PUT" loans.

As the holder of a FFELP purchased loan, the Department of Education assigns a servicer to handle the responsibilities associated with managing the FFELP loan. It is important for a school to understand that the servicer will handle their loan-related inquiries and apply school refunds to borrower accounts. It is important for a borrower to understand that the servicer of a FFELP purchased loan handles all requests associated with repayment plans, deferments, and forbearances; assists with questions concerning borrower accounts; and collects monthly student loan payments.

It is critical that a school help its borrowers learn who holds and services their FFELP purchased loans so that borrowers can take complete inventory of their federal student loans. To determine the servicer of a FFELP purchased loan, a borrower or school can access the National Student Loan Data System (NSLDS) at the following websites: www.nslds.ed.gov (borrowers) and www.nsldsfap.ed.gov (schools). The NSLDS is a helpful resource, as it provides a summary of a borrower's federal student loans, as well as the contact information for the holder(s) and servicer(s) of the loans.

For contact information for all of the servicers of FFELP purchased loans, visit Department of Education servicers.