Both have the same terms, conditions, interest rates, benefits and loan amounts. College financial aid offices have all the necessary forms needed to apply for a student loan in either the FDSL or FFEL program. In addition, they can tell you how much money you are eligible to borrow. Discuss your situation with the financial aid office. Colleges may participate in both programs but decide which program to certify a student's loan.
Students can borrow under only one program during a period of enrollment.
If your school participates in FFEL, your parents may get a Federal PLUS Loan application from a participating lending institution. If the school participates in FDSL, contact the financial aid office for the necessary forms. Ask your college's financial aid office if they need additional documents. Although the unsubsidized Federal Stafford Loan is not based on financial need, the financial aid office must first determine your eligibility for other financial aid. You may be eligible for grant and scholarship aid or a subsidized Federal Stafford Loan, so it is important to consider all possible aid first.