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Paying for College

Your guide for borrowing college loans

If you’re sending a child to college in the fall, you may need to borrow a college loan to pay for the expenses you’re not able to cover with savings. There are several banks, credit unions, private and public companies, and non-profit organizations like MEFA that offer loans to help families pay for college costs. While it’s nice to have many options, it’s also hard to know the differences among lenders and their loans. It’s also important to understand the process – and the terminology – that comes with borrowing a loan for higher education.

To provide some guidance and help you get started, we’ve put together a guide that reviews loan vocabulary and offers tips on how to borrow wisely. Navigating the guide is easy — simply use the left and right arrows at the bottom of the slides to get through the content. If you’d like to see it big screen, use the 2-way diagonal arrows to view the guide in full-screen mode, then navigate it by using the arrows on your keyboard.

If you have questions about borrowing a college loan, or need guidance on the process, call or email us here at MEFA. We can help you understand the specifics of borrowing, and offer direction to help you make the best decision for your family. You can reach us at (800) 449-MEFA (6332) or collegeplanning@mefa.org.








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