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 of 1965, as amended, or the Health Education Assistance Loan Program, as amended, including a Xxxxxxxx, PLUS, Consolidation or HEAL student loan.
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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.).
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FFELP Loan means a student loan which is a PLUS Loan, SLS Loan, Consolidation Loan, Xxxxxxxx Loan or Unsubsidized Xxxxxxxx Loan.
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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 Student Loan made pursuant to the Higher Education Act.
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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.
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FFELP Loan means a Federal Consolidation Loan, a PLUS Loan, a SLS Loan or a Xxxxxxxx Loan.
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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).
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FFELP Loan means a Student Loan made under the FFEL Program.
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FFELP Loan means a loan which (a) is made to an eligible borrower in compliance with the requirements of the Higher Education Act, (b) is guaranteed by a Guarantee Agency or Insured by the Secretary, (c) bears interest at not less than the maximum applicable rate of interest permitted by the Higher Education Act at the time originated, or a lesser rate of interest shown in a Cash Flow Statement with the written approval of each Credit Facility Provider, if any, and (d) is eligible for Special Allowance Payments.
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FFELP Loan means a Student Loan made pursuant to the Higher Education Act., including any Additional Advances as defined in the Loan Purchase Agreement.
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