FFELP Loan definition

FFELP Loan means a U.S. federally-insured student loan that has been authorized to be made or held by the Seller as the beneficiary of a student loan trust as part of the FFELP and authorized by the Higher Education Act, or the Health Education Assistance Loan Program, as amended, including a Xxxxxxxx, PLUS, Consolidation or HEAL student loan.
FFELP Loan means any student loan made under the Federal Family Education Loan Program, authorized under Title IV of the Higher Education Act, as amended (20 U.S.C. § 1070, et seq.).
FFELP Loan means a student loan which is a PLUS Loan, SLS Loan, Consolidation Loan, Xxxxxxxx Loan or Unsubsidized Xxxxxxxx Loan.

Examples of FFELP Loan in a sentence

  • The Purchaser shall cause any FFELP Loan returned to the Seller which has been endorsed to the Trustee to be endorsed by the Trustee to the Seller in the form set forth in Exhibit F hereto.

  • Additionally, the Seller shall, as a condition to the purchase by the Purchaser of any FFELP Loan, be required to pay to the Purchaser on the Loan Purchase Date the amount of any such origination fee which has not at that time been used to offset such Special Allowance Payments or Interest Subsidy Payments, to the extent that the Special Allowance Payments or Interest Subsidy Payments received by the Trustee in connection with such FFELP Loans shall be affected.

  • The liability of the Purchaser in connection with the loss of or damage to any FFELP Loan to be returned to the Seller is limited to such loss or damage occurring as a result of its gross negligence or willful misconduct in handling or safekeeping FFELP Loans.

  • We also have purchased and may purchase, in future periods, Private Education Loan and FFELP Loan portfolios from third parties.

  • We adjust this ratio to exclude the assets and equity associated with our FFELP Loan portfolio because FFELP Loans are no longer originated and the FFELP portfolio bears a 3% maximum loss exposure under the terms of the federal guaranty.


More Definitions of FFELP Loan

FFELP Loan means a loan under the Higher Education Act to an Eligible Borrower for education at an Eligible Institution (or a loan to consolidate the same).
FFELP Loan means any loan that is made pursuant to the FFELP program authorized by the Act, including, without limitation, Consolidation Loans made under Section 428C of the Act.
FFELP Loan means a U.S. federally-insured student loan that has been authorized to be made or held by Borrower as the beneficiary of a student loan trust as part of the U.S. Federal Family Education Loan Program ("FFELP") and authorized by the Higher Education Act of 1965, as amended, or the Health Education Assistance Loan Program, as amended, including Sxxxxxxx, PLUS, Consolidation and HEAL student loans, that (i) satisfies the eligibility requirements determined by Lender pursuant to Section 4.13 (Student Loans) and (ii) is identified in the Schedule of FFELP Loans to be delivered to Lender by Borrower electronically on the Closing Date and maintained on record by Lender, as such schedule may be updated electronically by written notice to Lender by Borrower from time to time.
FFELP Loan means an education loan made under the Act.