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.

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    |
student using tablet to learn about subsidized and unsubsidized loans
The differences between Subsidized and Unsubsidized Loans include the timing of when interest starts accruing, the eligibility for awarding based on financial need, and the maximum amount permitted.…
By Meredith Clement    |
The tool provides students a monthly student loan payment and total loan cost based on a potential loan amount borrowed. Then, it assesses the ease of repayment based on a chosen career.…
By Jennifer Bento-Pinyoun    |
What Are These Loans on My Financial Aid Offer?
You may see Subsidized or Unsubsidized Federal Direct Loans, a MA No Interest Loan, or a PLUS Loan.…
By Stephanie Wells    |
Is Your Child Entering Federal Student Loan Repayment?
Tips include making a list of all federal loans borrowed, determining the monthly payment total. and setting a budget. …
By Meredith Clement    |
Woman learning about student loan repayment options
Options include the Graduated Repayment Plan, Extended Repayment Plan, Income-Contingent Repayment Plan (ICR), Income-Based Repayment Plan (IBR), Pay As You Earn Repayment Plan (PAYE), Revised Pay As You Earn Repayment Plan (REPAYE), and Income-Sensitive Repayment Plan. …
By Jonathan Hughes    |
The Role of the Co-Borrower: Whose Loan Is It, Anyway?
Learn what comes along with being a co-borrower, including the loan appearing on your credit report and receiving bills and statements. …
By Jonathan Hughes    |
Student using laptop to learn about deferred reapymenbt
Learn the pros and cons of deferred repayment of student loans. …
By Julie Shields-Rutyna    |
Man using laptop to learn about APR
Learn about APRs, a shorthand way for you to compare the cost of two or more loans on an "apples to apples" basis.…
By Julie Shields-Rutyna    |
Person using tablet to learn about Master Promissory Notes
Learn about Master Promissory Notes, a legally binding document that a student must sign prior to borrowing a Federal Direct Student Loan.…
By Meredith Clement    |