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Pay for College

Student Loan Payment Calculator

Use our Student Loan Payment Calculator to view your estimated student loan payment and total cost on an undergraduate MEFA Loan. Simply input the amount you plan to borrow, the estimated strength of your credit profile (you can learn more about your credit here), and the number of years before your child graduates (e.g. 4 years for incoming freshmen, 3 years for incoming sophomores, etc.)

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Apply by phone: (800) 266-0243

To minimize borrowing, we also recommend that you consider using your college's monthly payment plan to pay for a portion of your college costs. Payment plans are interest-free but usually require a small fee. Talk to your college financial aid office for further details. When you're ready to apply, simply click the blue Get Started button below. Once you provide your information, you will be presented with the MEFA Loans you are eligible to borrow based on the credit profile of all borrowers on the loan.




Labels
Immediate Repayment: 10 Years Immediate Repayment: 15 Years Interest-Only Repayment: 15 Years Deferred Repayment: 15 Years Student Deferred with Co-borrower Release: 15 Years
In-School Monthly Payment
In-School Monthly Payment
Post-School Monthly Payment
Post-School Monthly Payment
Total Cost of Loan
Total Cost of Loan
Interest Rate
Interest Rate
APR
APR
3.95%-5.95%** 4.25%-6.20%** 5.45%-7.30%** 5.49%-7.09%** 5.67%-7.26%**

*All loans have a minimum monthly payment of $50

***The Annual Percentage Rate (APR) is designed to help consumers understand the relative cost of a loan and reflects the loan's interest rate, timing of payments, and fees. Maximum deferment is 5 years.

All payment information provided by this calculator is an estimate only. All monthly payment figures, loan balances, and total cost figures are estimates based on data you provided on the data input screens. Your actual loan payments and estimated total payment may vary based on the type of loan, interest rate, loan term, and your repayment habits.

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