The Louisiana Education Loan Authority (Lela) is a division of the Louisiana Public Facilities Authority (LPFA), a non-profit public trust established to bring financing assistance and advantages to the people of Louisiana. Lela, the student loan division of the LPFA, acts as a low cost source of student loan financing for higher education.

Lela is committed to making higher education more accessible and affordable. In fact, Lela has been funding college education for Louisiana residents since 1984 and has assisted over 360,000 students.

Choosing Lela as the lender of your student loan not only saves you money, but also benefits Louisiana. Unlike other lender programs, Lela is a division of a non-profit entity (LPFA) that reinvests money earned from loans back into the state. This money is used to promote education and economic development throughout Louisiana.

Trustee Notice

The Louisiana Public Facilities Authority (LPFA), doing business as Louisiana Education Loan Authority (Lela), has designated “The Bank of New York Mellon as Trustee" for the purpose of administering the funds for the Authority. This is a trustee relationship with Lela being the Lender for the Title IV Federal Family Education Loan Program.

EdFinancial Services in Knoxville Tennessee is the designated servicer for Lela loans and is responsible for funding disbursements to the schools and other funding entities designated by the colleges and universities.