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Paying for College

MEFA college loans: 3 features that set us apart

“What’s the difference between MEFA and other college loan lenders?”

This is a common question I receive from families researching all of the loan options out there to pay for college. My first response is “MEFA has a mission to help families make higher education affordable. We’ve held to that mission for over 30 years, and it drives everything we do.” Here’s how our mission benefits families that borrow our college loans:

1.     We post our loan interest rates right up front.
Transparency is our middle name. MEFA has always provided interest rates and APR’s, as well as total loan cost, up front, before families apply. We have been committed to providing clear information to families long before federal regulations required lenders to do so. And we educate parents and students on tips for wise borrowing to help minimize their college loan debt and make college affordable.

2.     We offer the lowest rates possible.
When it comes to education loans, even the smallest differences in cost can be significant. As we set the interest rates on MEFA loans each year, our goal is always the same: to offer the lowest interest rates possible. This year we are pleased to offer interest rates even lower than last year, starting as low as 4.99% (APR* 6.13% - 6.51%). That’s lower than the Federal PLUS Loan’s 6.84%. MEFA’s low interest rates provide borrowers with significant cost savings over the life of their loans.

3.     We help families minimize debt.
As part of our mission, MEFA educates families to exhaust all other funding resources before borrowing to pay for college. From advising families to save early through our U.Plan and U.Fund college savings plans, to educating families at over 500 free seminars about college planning and the financial aid process, to encouraging families to utilize their college’s interest-free payment plan to reduce the amount they may need to finance, MEFA works hard every day to demonstrate that we are more than just a lender.

The one Authority you can trust.
By providing families transparent and up-front college loan details and college planning information, MEFA is on your side as the Authority in Massachusetts to help you plan, save, and pay for college. Should you or a friend need help at any point in the college payment process, connect with us. You can reach us at (800) 449-MEFA (6332) or

*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 the Anticipated In-School Period, and the presence of a co-borrower.

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