Make expenses more manageable with a monthly pay-as-you-go plan.

Instead of paying in one lump sum, spread your college expenses out into manageable monthly payments. Monthly pay-as-you-go plans (or "monthly payment plans") charge a small enrollment fee to let you pay what you can now, interest-free, in monthly installments.

For example you may be able to spread a $5,000 bill over 10 months at $500 per month. That's $5,000 that you wouldn't have to borrow. This is one of the most effective means of limiting your debt. You can use a monthly pay-as-you-go plan in combination with MEFA's low cost loan programs.

COMBINATION STRATEGY — THE BEST KEPT SECRET
IF YOU OWE $15,000
Affordable Monthly Payments	Monthly Payment Plan Amount	PLUS Loan Amount	The Interest You'll Save
$250 per month	$75 per month	$175 per month	$134
$500 per month	$360 per month	$140 per month	$380
$750 per month	$645 per month	$105 per month	$2,627
$1,000 per month	$930 per month	$70 per month	$3,873

Please note: All examples do not include your enrollment fee for the TMS Monthly Payment Plan. Payment option examples are based on a 10-month payment plan. Assumes 8.50% interest rate over 10 years.

Get started.

MEFA partners with Tuition Management Systems (TMS), the nation's leader in customized payment options, to provide college financing solutions with many Massachusetts colleges. We even offer counseling to help you work education costs into your family's budget. Visit Tuition Management Systems(PLEASE NOTE: Clicking on this link will take you away from the MEFA web site to a MEFA trusted partner site.) and click on Monthly Payment Plans to see if your college is a partner and get started with a pay-as-you-go plan.

If your college is not listed, contact the college's financial aid office directly to find out if they offer a monthly pay-as-you-go plan.