President Obama signed the Health Care and Education Reconciliation Act of 2010 on March 30, 2010. Part of this legislation made significant changes to the federal student loan programs. The Federal Family Education Loan (FFEL) Program ended as of June 30, 2010.
Because the FFEL has ended, the credit union no longer can offer the FFEL Stafford, Plus and Consolidation loan programs. Any parent or student that is now interested in borrowing through the federal student loan programs must go to the school's Financial Aid Office.
If you are a parent or student that has loans that were first disbursed prior to July 1, 2010 and not yet fully disbursed through the credit union, these loans will continue to be disbursed. All outstanding loans will continue to be serviced by AES, so any payments you are making will continue in the same manner.