The Florida Department of Education, Office of Student Financial Assistance (OSFA) serves as a guarantor for the Federal Family Education Loan Program (FFELP). As a student loan guaranty agency, OSFA administers the FFELP through an agreement with the United States Department of Education and in compliance with the Higher Education Act, Code of Federal Regulations, and Florida Statutes.
|The Higher Education Act, Section 428(j) and 34 Code of Federal Regulations, Section 682.401(c), requires a guaranty agency to ensure that it, or an eligible lender serves as a Lender-of-Last-Resort in the State in which the guaranty agency is the designated guaranty agency. The Lender of Last Resort is for schools that are unable to obtain a lender for their students who are eligible to receive a Federal Family Education Loan. The Lender-of-Last-Resort must make subsidized and unsubsidized Federal Stafford loans to any eligible student. The Lender-of-Last-Resort may make Federal PLUS loans to borrowers who have been otherwise unable to obtain those loans from another eligible lender.
|For more information on the Lender-of-Last-Resort Program administered by OSFA, you may contact OSFA's Lender-of-Last-Resort Customer Service Staff, Monday through Friday, 8:00 a.m. to 5:00 p.m., EST, by telephone or electronic mail.
|Customer Service Staff
|You may also contact the staff by fax or by postal mail at:
| FAX: (850) 942-8017
Florida Department of Education
Office of Student Financial Assistance
Atten: Lender-of-Last-Resort Unit
Post Office Pox 7019
Tallahassee, Florida 32314-7019