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.  Read More

A New Tool Helping Families Finance a College Education

MEFA is excited to be a part of ForYouNotForProfit.org, which includes information on financial aid and scholarships, guidance on establishing a college savings account, and a streamlined search engine to help students and parents find education loans through non-profit and state-chartered organizations. Read More

Tips on Borrowing a College Loan

Understand loan terminology, borrow federal student loans first, minimize borrowing, assess affordability, and get trusted advice Read More

What are these loans on my financial aid award letter?

You may see Subsidized or Unsubsidized Federal Direct Loans, a MA No Interest Loan, or a PLUS Loan. Read More

4 commonly asked questions about spring semester college loans

Within a college’s spring semester, questions on education loans often arise from parent and student borrowers. Many inquiries stem from students transferring schools and wondering how the change will affect… Read More

Why you should visit these federal financial aid websites

If you’re a college student receiving federal financial aid (such as a Pell Grant or Federal Direct Student Loan), or the parent to one, you’ll want to know about a… Read More

MEFA’s College Loan for Families Offers Interest Rates Among Nation’s Lowest

Contact: Martha Savery, Director of Public Affairs msavery@mefa.org 617.224.4813 BOSTON – The Massachusetts Educational Financing Authority (MEFA) will offer its low-cost college loan for the upcoming academic year with interest… Read More

MEFA News

MEFA Loan Rate Decreases Amid Rising Interest Rates

Contact: Lisa Rooney (617) 224-4838 lrooney@mefa.org BOSTON – The starting interest rate on the state’s college loan will decrease for the upcoming academic year in contrast to the increase in…