1. Minimize Borrowing by Considering All Resources First

Use your savings
If you have saved in a college savings plan, we have the details on how to use your savings to pay for college costs. Get the Details

Sign up for the college's payment plan
Payment plans are an interest-free way to pay your college balance over several months. Learn More

2. Borrow Wisely

Learn key terms and borrowing tips
We highlight important loan terminology and how to make wise borrowing decisions. See the List

Find out how loans work
Be sure to know how much you can borrow, when to apply, and how to access your loan funds. Get the Facts

Use our Student Loan Payment Calculator
Before you borrow, find out your potential interest rate, monthly payment, and total loan cost on a MEFA Loan. Calculate Now

3. Borrow Federal Direct Student Loans First

Borrow federal first
If you haven't yet, submit the FAFSA to receive your Federal Direct Student Loan, which you should borrow before any private loan. Federal student loans offer loan forgiveness options, flexibility in repayment plans, the absence of a credit check, and no need for a co-borrower. File the FAFSA

Understand loan types
There are significant differences between federal and private student loans. Learn More

Comparing College Loan Options Webinar
Watch our Comparing College Loan Options webinar to learn key loan terms, find out how to differentiate between loan options, and get the steps to follow to make the best loan decision for your family.
Apply for a MEFA Loan
MEFA Loans have low, fixed interest rates, no fees, and multiple repayment options. Our application takes just a few minutes and provides an instant decision.

The MEFA Podcast: How Do Private Student Loans Work?

90 Seconds with MEFA: Wise Borrowing

Contact Us

Reach out to our College Planning Team with your questions at (800) 449-6332 or collegeplanning@mefa.org.

Request an Appointment

Complete our online form to request a one-on-one appointment with a MEFA College Planning Team member.