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Press Releases 06/25/08  BOSTON, June 25, 2008 - The annual enrollment period for the U.Plan Prepaid Tuition program has been extended to July 15, so more parents and grandparents can take advantage of the opportunity to lock in tomorrow's tuition at today's rates. MEFA, the state's non-profit authority that sponsors the U.Plan, announced the deadline extension in response to public interest in the tax-advantaged, risk-free college savings option. 06/02/08 BOSTON, June 2, 2008 - A family may actually lower its total cost of higher education by saving early. Families who save may borrow less and ultimately pay less in interest on education loans-an important consideration during the annual enrollment period for MEFA's U.Plan Prepaid Tuition Program, which remains open through June 30th. BOSTON, May 12, 2008 - MEFA, sponsor of the U.Fund College Investing Plan, today announced the winners of its fourth annual College Savings Art Competition. The annual contest invites public, private, charter and home school students in the third, fourth and fifth grades to submit artwork on the theme "What do I want to be when I graduate from college?" This year's event drew nearly 1,200 entries across the Commonwealth. Boston—The U.Plan Prepaid Tuition Program, which locks in future tuition at today's prices, opened its annual enrollment period May 1 and Massachusetts families have until June 30 to save in the U.Plan. The U.Plan is a safe college savings investment, making it an important piece of the college financing plan. In its twelve year history, more than 36,000 Massachusetts families have invested the Commonwealth's Prepaid Tuition Program. Boston—Effective July 1, 2008, MEFA is suspending all Federal education loans, including the Stafford Loan for undergraduate and graduate students, PLUS, and Graduate PLUS. Additionally, effective immediately, MEFA will not accept any new Federal Consolidation applications. The unprecedented disruption in the capital markets coupled with federal changes has prevented MEFA from securing funds for its federal education loan programs. Boston—Good Morning Senator Kennedy and Distinguished Members of the Panel, Thank you for the opportunity to appear before you today to discuss access to college in a turbulent economy. My name is Thomas M. Graf, and I serve as the Executive Director of MEFA, The Massachusetts Educational Financing Authority. I'm honored to provide testimony on behalf of MEFA, the Commonwealth's self-financing, not-for-profit state authority dedicated to assisting parents, students, colleges, and universities in meeting the challenges of financing higher education. 03/06/08 Boston—The unprecedented disruption in the capital markets, which began with the subprime mortgage crisis, has impacted student loan lenders across the nation. Several lenders have reported difficulty in obtaining capital to fund student loans for the remainder of the spring 2008 semester and for the fall 2008 semester. Unlike a number of lenders across the country, MEFA continues to offer families low-cost loans for the spring 2008 semester.
01/30/08 Boston—A popular MEFA email service for parents has received recognition from the College Board as a best practice worthy of replication nationwide. MEFA's Parent Assistance Services was commended for teaching families to navigate the financial aid process in a new College Board publication, The CollegeKeys Compact.
12/17/07 Boston—This holiday season, MEFA is encouraging parents, grandparents, aunts and uncles, neighbors, and friends to give a gift that will be long remembered: a contribution to a loved one's U.Fund College Investing Plan account.
12/03/07 Boston—MEFA offered free college savings and financial aid materials to hundreds of families at La Feria de la Familia on Sunday, November 18th.
12/03/07 MEFA Kicks Off its 4th Annual Art Competition to Promote College Savings BOSTON - Student across Massachusetts are eligible to win up to $5,000 toward college expenses in the 2007 College Savings Art Competition sponsored by MEFA, the state-created non-profit that works to make higher education more accessible and affordable through community education program, college savings plans, and low-cost financing options.
10/04/07 MEFA today announced rates and borrower benefits on its federal education loans will remain unchanged for the 2007-2008 academic year, despite a recent reduction in government subsidies prompting other lenders to reduce or eliminate borrower benefits.
08/23/07 With the fall semester just around the corner, a majority of Massachusetts parents of college students are waiting until this month to figure out how to pay for tuition, room and board. 07/18/07 MEFA, the state's non-profit college savings and lending experts, launched a Spanish language component to their website this Spring, offering financial aid resources and advice on college financing to Spanish-speaking residents of Massachusetts. 07/03/07 The deadline for enrolling this year in the U.Plan Prepaid Tuition Program has been extended to July 18th, offering Massachusetts families more time to lock in tomorrow's tuition at today's rates. 06/27/07 MEFA has once again reduced interest rates on loans for the upcoming academic year. The non-profit lender stands apart by providing a single rate for all qualified borrowers and rejecting the industry practice of giving the lowest rate to only the best-qualified borrowers. 06/11/07 While tales of student loan debt are commonplace, lesser known are the powerful stories of parents and students who graduate from college with significantly reduced borrowing levels due to the impact of the Commonwealth's college savings programs. 06/06/07 MEFA today urged new college graduates to consolidate federal college loans before July 1st in order to secure a lower interest rate. The federal Stafford loan interest rate will rise by 0.08 percent on July 1, and recent graduates with variable rate loans can secure a fixed rate of 6.62% by consolidating. 05/02/07 When it comes to paying for college, financial aid and savings accounts often fail to cover the entire bill for most families. To pay the balance, parents and students increasingly rely on student loans. 05/01/07 The annual enrollment period for the U.Plan Prepaid Tuition Program opens May 1, allowing participants to lock-in tomorrow's tuition at today's rates at 80 participating Massachusetts colleges and universities. 03/21/07 MEFA, a non-profit state authority dedicated to helping students and parents meet the challenges of financing higher education, announced today it will again offer its annual statewide telephone hotline to assist families and students financing college costs. 02/01/07 MEFA is a proud partner in the third annual Massachuetts College Goal Sunday, a free program offering college-bound students and their families expert assistance in completing financial aid forms. 10/24/06 With the cost of higher education on the rise, it is more important than ever that college students and their families make smart choices about paying for college, budgeting, managing their money, using credit and borrowing to finance their education. 06/21/06 More than 2,400 students in grades 3, 4 and 5 entered this year’s art competition, which asks entrants to depict what they want to be when they graduate from college. The contest aims to encourage parents to begin saving for college and awards the winners cash prizes deposited in their names in U.Fund College Investing Plan accounts. 02/06/2006  School Vacation Week Great Time to Create Entry and Compete for $5,000 Entries are now being accepted for the 3rd Annual College Savings Art Competition with a top prize of $5,000, according to the Massachusetts Educational Financing Authority. 01/17/2006 Next to filing taxes, the most complicated form parents complete every year is the Free Application for Federal Student Aid - FAFSA. First-time applicants, and even returning applicants, may find the process difficult to navigate. 12/20/2005 A free program delivers expert advice from MEFA into the email inboxes of parents seeking college financial aid. MEFA's new Parent Assistance Services sends enrolled parents regular email messages with tips, advice and reminders about applying for college financial aid and navigating the college financing process.  |
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