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For College Administrators

Our dedicated training and resources support your efforts to help college students and their families plan and pay for college.

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MEFA’s Certification Platform

If your school isn’t registered through ELM, use MEFA’s platform to certify MEFA Loans for all of your students

ELM Loan Certification

MEFA is pleased to work with ELM Resources as a lender partner. By certifying MEFA Loans via ELM, you are authorizing on behalf of your institution that you have ensured that each of the following statements is true:

1

The MEFA Loan has been certified for an amount equal to or less than 100% of the student’s cost of attendance less other financial aid received for the academic period.

2

The student is admitted or enrolled at least half time in an accredited degree-granting program and is making satisfactory academic progress as defined by your institution.

MEFA Online Certification FAQs

ELM Certification FAQs

If you are a college administrator at an institution that certifies student loans through ELMOne, you will see all active and prior MEFA Loans within that platform from July 1, 2019 onward.

Yes, students may borrow a MEFA Loan for the summer session if they are enrolled less than half time, provided they are enrolled at least half time during the academic year. Summer loans may be certified using the student’s enrollment status for the current academic year.

The MEFA Undergraduate Loan is considered a family loan, and the student is not the primary borrower on the loan. For MEFA Undergraduate Loans, the borrower data will be different than the student data. You should look for, and upload, borrower data into your loan management system when certifying MEFA Undergraduate Loans.

As a school, you can view borrower data in three ways:

– Via the borrower Information section of the Certification Details record
– Via the SP2 file for those profiled to receive a CL response file from ELM
– Via the Certifications Report via ELMOne (ELM NSC can assist a school’s setup)

If your school is unable to add separate borrower data to your loan management system, we recommend you certify MEFA Loans manually in ELMOne. Please Note: For MEFA Graduate Loans, student information is populated in both the student and borrower fields.

Depending on your certification method, you will either set up a loan period on your FAM system or use templates in ELMOne.

“MEFA’s Lender Code is 733921. MEFA’s ‘s Guarantor Code is E10.

MEFA’s Program Codes are as follows:

MEFA Undergraduate 15-yr Immediate: G67

MEFA Undergraduate 10-yr Immediate: M27

MEFA Undergraduate Interest-Only: R01

MEFA Undergraduate Deferred: G61

MEFA Undergraduate Deferred with Co-Borrower Release Provision: M26

MEFA Graduate Interest-Only: R02

MEFA Graduate Deferred: G62

Download this reference chart with MEFA’s loan codes.

We require that you enter each student’s cost of attendance and estimated financial aid amount when certifying using ELMOne or CommonLine File. Additionally, the certified MEFA Loan amount cannot exceed the cost of attendance minus the estimated financial aid amount. We cannot commit to or disburse a MEFA Loan until these criteria have been met. Do not include the MEFA Loan amount in the estimated financial aid amount.

You can submit refund requests through ELMOne for all loans, regardless of who initially deposited the funds into your school’s account. The actual funds returned from your school, however, will need to be sent to the entity (MEFA or ELM NDN) that originally disbursed the funds. ELM NDN is not able to accept returned funds or data for disbursements originated by MEFA. These funds, if received by you, will be returned to you with a message to return the funds directly to MEFA.

For NDN disbursements, MEFA will disburse on your school’s preferred disbursement dates that are set up in ELMOne.

A MEFA Loan can be used to cover a prior balance for the previous semester. At the time of certification, the student must be enrolled, intending to enroll, or have completed a degree.

Student Loan Interest Rates

U.Plan Prepaid Tuition Program

If you serve as a U.Plan administrator at your school, create an online account to manage your U.Plan rosters and set up ACH/EFT to receive U.Plan funds electronically.

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Navigating the U.Plan Portal for College Administrators

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Video

Navigating the U.Plan System

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Refund a U.Plan Payment

Use our U.Plan Distribution Refund Form to refund all or a portion of a student’s U.Plan payment to MEFA.

Contact us to create a U.Plan account

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MEFA’s Guiding Principles

As a state authority established by the Commonwealth of Massachusetts to help families cover education expenses, we adhere to a set of guiding principles that promote borrower success.

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Advisory & Outreach Programs

MEFA makes affordable education loans and serves as a trusted guide, walking families through the maze of higher education options and offering free advisory services.

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Encourage Smart & Responsible Borrowing

MEFA encourages families to make the best possible borrowing decisions for their individual circumstances.

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Affordable Student Loan Terms & Repayment Options

MEFA offers affordable education loans with transparent terms and guides borrowers through all repayment options available to them

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Help for Borrowers in Distress

MEFA works closely with borrowers experiencing personal hardship or financial difficulties to offer guidance and assistance.

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