Welcome Parents and Students
MEFA offers the lowest cost loans available for Parents and Students like you!


Apply for an Undergraduate Loan

  • Current interest rate and terms apply to the 2007-08 academic year
  • Fixed interest rate of 6.39% (**APR 6.71%)
  • Variable interest rate of 3 month LIBOR + 2.20% (**APR 5.20%) with an interest rate cap of 12%
  • Monthly payments as low as $6.78 per $1,000 borrowed
Apply for an Undergraduate Loan

Apply by phone at 1-800-266-0243



Apply for a Graduate Loan

  • Current interest rate and terms apply to the 2007-08 academic year
  • Fixed interest rate of 6.89% (**APR of 6.56% - 6.89%)
  • Variable interest rate of 3 month LIBOR + 2.70% (**APR 5.19%-5.73%) with an interest rate cap of 12%
  • Monthly payments as low as $7.11 per $1,000 borrowed
Apply for a Graduate Loan

Apply by phone at 1-800-266-0243

Apply by fax at 1-888-725-2855

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* Guaranteed approval on all renewal loan applications provided that the borrowers don't default on an education loan and that the student borrower and co-borrowers remain the same. Applies to the MEFA Undergraduate Loan with Immediate Repayment and MEFA Graduate Loan.

** The annual Percentage Rate (APR) reflects both the accruing interest and the effect of borrowing the origination fee and paying it over the term of the loan. APR varies with length of deferral.