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With a MEFA Education Refinancing Loan, you can combine your existing student debt into one loan that’s easy to manage.

  • Lower your monthly payment on average by $209*
  • Potentially lower your interest rate
  • Refinance both federal and private loans
  • Make it easier to manage and pay your monthly loan bills
  • No application fee, origination fee, or prepayment penalty

Our CFO explains how a MEFA Education Refinancing Loan can create additional discretionary income to help you take those next steps toward your financial goals.

*See disclosure below
  • Fixed interest rates ranging from 4.95% to 6.95% APR and variable interest rates as low as 4.03% APR* (Learn how variable rate loans work)
  • Minimum refinance amount: $10,000
  • 15-year repayment term
  • Convenient online account access and loan payments
  • Loan refinancing is different than consolidation. See the comparison here.


*The interest rate and monthly payment on a MEFA variable rate Education Refinancing Loan may increase or decrease as its index, the 1-Month London Interbank Offered Rate (LIBOR), fluctuates. Rate listed is as of 10/1/17. Learn about LIBOR.

To be eligible for a MEFA Education Refinancing Loan, you must:

  • Be a citizen or permanent resident of the United States
  • Have an established credit history; a co-signer can help strengthen the application
  • Have no history of default on an education loan
  • Have no history of bankruptcy or foreclosure in the past 60 months
  • Be a signer on all loans being refinanced

You may refinance any loan that:

  • Is a federal or private education loan, including Federal Direct Undergraduate Loans, Stafford Loans, PLUS Loans, and Graduate PLUS Loans
  • Is in repayment and current at the time of your refinance application
  • Is not in a grace period, deferment, or forbearance
  • Was used to fund an education at an eligible college or university (as defined by MEFA)
  • You have made on-time payments in each of the previous 12 months

Minimum MEFA Education Refinancing Loan amount is $10,000.

Keep in mind that refinancing a federal student loan will cause you to forfeit all benefits for which you may be eligible that only federal loans offer. Learn more

Applying for a MEFA Education Refinancing Loan is easy and free, and takes just a few minutes for pre-approval.

1. Click the green button below to complete our online application and get an instant credit decision.
2. After receiving pre-approval, upload the requested documents to verify your income and current loan details, including a payoff statement from each of your current lenders.
3. After final approval, select between a fixed or variable interest rate.
4. As your last step, e-sign your loan documents.

If you have any questions during the application process, please call (855) 433-REFI (7334).
Apply Online

We want to ensure you know everything about this product before you apply. Our average monthly payment reduction is based on MEFA REFI loan borrowers who refinanced their loans from January 5, 2016 through September 15, 2017. The minimum MEFA Education Refinancing Loan amount is $10,000. The average monthly payment reduction is the average difference between the previous student loan monthly payment and the new MEFA REFI loan monthly payment. This calculation is for all MEFA REFI loans where the MEFA borrower has made the decision to reduce their monthly payment. For variable rate REFI loans, this calculation is based on the variable interest rate initially in effect on the REFI loan. The total repayment amount may be higher on the REFI loan than on the refinanced loan despite the new lower monthly payment.

Our Loan Disclosure Form below provides all of the important details about our education refinance loans.

MEFA’s Education Refinance Loan Application and Solicitation Disclosure