Where did it all start?

  • 1958 National Defense Education Act

    Aimed to make college accessible.

  • Higher Education Act of 1965

    Introduced the federal guaranteed student loan program and expanded access.

  • Federal Family Education Loan Program

    Created by the Higher Education Act, allowed private lenders to issue federal student loans.

  • 2010 Direct Loan Program

    Replaced FFELP due to government deeming direct lending more cost effective, and a desire to ensure a stable supply of student loans during economic hardship.

When and why were federal student loans first created?

How did the Higher Education Act change student loans?

What changes occurred with the shift from private lending to direct lending?

How have interest rates changed over time?

Consequences