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.

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    |
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    |
What You Need to Know About MEFA Loans
Get the facts including interest rates, no fees, instant application decision, multiple repayment options, set monthly payments, and expert guidance. …
By Meredith Barnhart    |
You've Been Approved for a MEFA Loan. Now What?
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    |
Understanding MEFA Loan Repayment Options
The repayment term on a MEFA Loan will affect the total loan cost and interest rate, and determine when repayment begins. The sooner the repayment begins, the lower the total cost of the loan.…
By Meredith Barnhart    |
Share FacebookTwitterLinkedinEmail