Next steps include signing the MEFA Loan Agreement (MLA) and Self-Certification Form, having the college certify the loan, setting up an account with our servicer American Education Services (AES), returning excess funds, and making voluntary payments if you wish to do so. …
By Stephanie Wells    |
MEFA is excited to be a part of ForYouNotForProfit.org, which includes information on financial aid and scholarships, guidance on establishing a college savings account, and a streamlined search engine to help students and parents find education loans through non-profit and state-chartered organizations.…
By Lauren Danz    |
Your student may need to complete federal loan requirements, ensure private scholarships and payment plans have credited the account, submit documentation to the financial aid office, or follow up with your private loan lender.…
By Meredith Clement    |
Learn how to use the Student Loan Payment Calculator to find out your projected monthly payment and total loan cost based on the amount you plan to borrow, the interest rates for all five repayment options, and the length of repayment.…
By Meredith Clement    |
A UMass Amherst graduate breaks down his plan - including tackling private loans first, consolidating federal loans, switching to an income-based repayment plan, and factoring loans into an overall monthly budget. …
By Sean Hauter    |
Find out how the application process works, who the borrower is, how the total cost differs, what the grace period is, and how borrowers can get help with financial hardships. …
By Stephanie Wells    |
We walk you through the steps of applying for a MEFA Loan, including adding a co-borrower, retrieving an application, selecting repayment terms, and e-signing. …
By Meg Villavicencio    |
You may see Subsidized or Unsubsidized Federal Direct Loans, a MA No Interest Loan, or a PLUS Loan.…
By Stephanie Wells    |
Learn when funds are sent to the college, if you can take a loan for all four years at once, if you can repay a loan early, and more. …
By Meredith Clement    |
Learn if you should apply for all four years at once, if you can use a MEFA Loan for rent, who MEFA loans are available to, and when you need to apply for a loan.…
By Jonathan Hughes    |