Why is APU switching to Direct Loans?
For the 2008–09 academic year and prior, APU participated in what is known as the Federal Family Education Loan Program (FFELP), a public-private partnership in which private, nonprofit, and state-based lenders make federally guaranteed loans to students and parents. Due to recent changes made by Congress to the FFEL Program, coupled with the current economic downturn, a significant number of lenders have exited the program, limiting options and decreasing the number of benefits for borrowers.
