Skip to main content
MEFA Blog

MEFA Blog

Keep up to date with the latest news about planning and financing a college education and preparing for your financial future, from experts here at MEFA and across the industry. Browse through our blog and use it as your very own college planning guide.

FAQs on Borrowing Student Loans During Uncertain Times
Topics include the amount to borrow, the timing of applying, reducing loan amounts, and increasing loan amounts …
By Stephanie Wells    |
Private Student Loans vs. Federal Student Loans: What's the Difference?
Federal loans can be subsidized or unsubsidized, have an interest rate of 2.74% for the 2020-21 academic year, and tend to be more lenient with repayment. Private loans are offered by various lenders, typically have interest rates tied to credit scores, and usually are stricter with repayment.…
By Shaun Connolly    |
Answering Your Questions About Student Loans
Questions include how do I get the Federal Direct Student Loan, how do lenders decide on the interest rate they offer each borrower, how do we pay a loan's origination fee, and how long does it usually take for a student loan application to process.…
By Meredith Clement    |
How to Apply for Private Student Loans
Learn what you need to know when comparing private loan options and the steps for applying once you have decided on a lender, including visiting the lender's website, completing the application, selecting your loan, and signing the Loan Agreement with your co-borrower. …
By Shaun Connolly    |
5 Key Terms to Know About Student Loans
Terms include Interest Rate, Annual Percentage Rate (APR), Repayment Term, Application and Solicitation Disclosure, and Co-Borrower. …
By Jonathan Sparling    |
What to Do With COVID-19 Room and Board Refunds
If you used funds from a 529 account to pay for these expenses, the deadline to deposit these funds back into a 529 account without paying income taxes on the funds has been extended.…
By Jonathan Hughes    |
Tax Forms Related to Higher Education
We offer guidance on the 1098-T, 1098-E, 1099-DIV for U.Plan, and 1099-Q. …
By Meredith Clement    |
5 Ways to Save on New England College Costs
Options include MassTransfer/Commonwealth Commitment, Tuition Break, University of Maine Flagship Match Scholarship Program, UMass Lowell Accelerated Degrees, and Clark University Accelerated BA/Master's.…
By Julie Shields-Rutyna    |
Reduce costs by taking Advanced Placement (AP) or International Baccalaureate (IB) courses, utilizing the College-Level Examination Program (CLEP) or Prometric’s DSST exams, registering for classes as soon as possible, and thinking carefully before changing your major. …
By Lauren Patten    |
6 Ways to Make College Less Expensive
Tips include start saving, look for scholarships early, earn college credits in high school, consider community college, attend college online, and apply for financial aid. …
By Meredith Clement    |
Share FacebookTwitterLinkedinEmail