Applications Terms
You may apply for a MEFA Law School Loan for one academic year. If you need a loan for more than one year, you must reapply each year.

Loan Amount
The maximum student loan amount is 100% of the cost of attendance (tuition, fees, food, housing, books, supplies, and miscellaneous expenses) minus financial aid received for the academic period. The minimum student loan amount is $1,500.

Co-Borrower
Graduate students may improve their chances of approval and qualify for a lower interest rate with a co-borrower. The student borrower and all co-borrowers are equally responsible for loan repayment. 

Fees
There is no origination fee, application fee, or prepayment penalty.

Availability
MEFA Law School Loans are available to students across the country.

Enrollment Status
To be eligible for a MEFA Law School Loan, the student must be enrolled at least half time in an accredited degree-granting graduate program at an eligible non-profit college or university in the United States. If the student is enrolled or plans to be enrolled at least half time during the regular academic year, a student may borrow a MEFA Law School Loan for enrollment that is less than half time during the summer semester.

SAP
The student must maintain satisfactory academic progress (SAP) as defined by the college or university.

History
All borrowers must have no history of default on an education loan and have no history of bankruptcy or foreclosure in the past 60 months.

Citizenship
All borrowers must be citizens or permanent residents of the United States.

Credit
The loan application must meet MEFA’s current credit approval standards.

Interest-Only
Interest-only period begins on the final disbursement date, and includes up to 48 months of in-school interest-only payments and an additional 12 months of post-school interest-only payments. Principal and interest repayment begins after the end of the interest-only period. Loan must be fully repaid within 15 years after the end of the interest-only period.

Deferred
Up to 48 months of in-school deferment of principal and interest and an additional 12 months of deferment of principal and interest during grace period for clerkship, then 15 years repayment after grace period.

There is no penalty for early repayment on the MEFA Law School loan.