Financing an education has its (tax) benefits.

Saving for a college education and borrowing with MEFA's low cost loans are both smart decisions. Especially when you consider the potential tax advantages:

You can benefit from significant tax advantages when you save for college.

If you file a tax return and owe taxes, your family may be eligible for tax credits including the American Opportunity Credit and Lifetime Learning Tax Credit.

Tax deductions are expenses that you may report to reduce the amount of your income on which you are taxed. You can deduct interest on student loans and interest on tuition and fees.

For more information on Tax Advantages, link to the IRS official web site. (PLEASE NOTE: Clicking on this link will take you away from the MEFA web site.)

We strongly recommend that you consult an expert tax advisor to discuss how the regulations apply to your particular situation, or that you review the tax laws and applicable regulations to determine whether the interest paid on your educational loan is deductible. MEFA cannot ensure that interest paid on individual loan(s) will be deductible.