If you need to borrow for higher education, there are two types of education loans: federal and private.

• Federal education loans - including Stafford Loan for students, PLUS for parents, and Graduate PLUS - offer fixed interest rates and terms determined by the federal government.
• Private education loans are offered through many lenders, and interest rates, terms, and benefits vary. MEFA offers fixed interest rate private loans for undergraduate and graduate students.

MEFA recommends maximizing the use of federal education loans, especially the Stafford Loan for students. Learn more about Federal Education Loans.(PLEASE NOTE: Clicking on this link will take you away from the MEFA Web site.)

Keeping Your Debt Under Control
Remember that there are smart ways to borrow that can help keep your debt manageable:

• Use a monthly pay-as-you-go plan when possible.
• Do research to ensure that you get the best possible loan rates and terms. Read MEFA’s Tips for Comparing Education Loans.
• Learn about the impact of deferring repayment and choosing a long repayment term. Putting off payments and having smaller monthly payments might increase your total cost of borrowing.

MEFA education loan availability is subject to MEFA’s acceptance and approval of a completed loan application, credit approval, and fund availability for the applicable loan category. MEFA reserves the right to modify or terminate benefits, products, services and terms in its sole discretion and without prior notice.

The information provided to you on this Web site has been obtained and/or compiled from sources we believe to be reliable.

The information, products, services, or terms are provided as is. MEFA does not and cannot guarantee the accuracy, validity, timeliness, and/or completeness of any information, data or documents made available on this Web site. Any dated information is published as of its date only, and MEFA does not undertake any obligation and/or responsibility to update or amend any such information or documents.