The Louisiana Public Facilities Authority ("LPFA”) established its student loan program in 1984 to make higher education more accessible and more affordable to students and parents in Louisiana. LPFA operates and markets its student loan program under the name of Louisiana Education Loan Authority ("Lela”). The LPFA has issued over $1.93 billion in bonds to fund its Lela division programs which have provided student loans to more than 365,000 student and parents since inception. Lela is the second largest provider of student loans in Louisiana and is Louisiana’s only statewide student loan secondary market source and in-state loan provider.