1 Please note that interest begins accruing after each disbursement. You are not required but are permitted to make payments toward this accruing interest during your deferment period if you wish.
2 The Annual Percentage Rate (APR) reflects both the accruing interest and the effect of borrowing the origination fee and paying the expected monthly payment over the term of the loan. APR varies with length of deferral, length of in-school period, and the presence of a co-borrower.
3 This variable interest rate and Annual Percentage Rate (APR) may be higher depending upon your credit history and will increase or decrease if the one-month LIBOR index changes. LIBOR stands for London Interbank Offered Rate. The one-month LIBOR is the Current Index, as published in the "Money Rates" section of the Wall Street Journal (Eastern Edition). This typical variable interest rate loan is an example of a typical LIBOR-based college loan. It is calculated by adding the current one-month LIBOR index to industry averages of the minimum and maximum spreads of LIBOR-based college loans. The current one-month LIBOR index was 0.375% on 5/1/10. This typical variable interest rate loan is an example only, and is not representative of any actual loan product.
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 website 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 website. 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.
