Borrowing Wisely Means Having a Plan

Before borrowing, take into consideration what you expect to make in your first job, what your loan payment will look like when you graduate, and what you estimate your other future expenses to be.  Read More

5 Things to Know About Public Service Loan Forgiveness Program

Make 120 eligible payments while working for an eligible employer, it doesn’t matter what you do for a living, don’t consolidate unless you are required to, submit your proof of employment annually, and don’t pay more than you have to. Read More

Preparing for Life After College: Student Loan Repayment

Tips include talking to your loan servicer, talking to friends, creating a budget, setting a goal, and making a plan.  Read More

Repaying Your Federal Student Loans: 5 Facts You Should Know

Facts include that payment application is dictated by federal regulation, paying extra results in a “paid ahead” status, paying extra can save you money over time, sometimes accrued interest can capitalize, and sometimes it’s okay if your payment amount is less than your accrued interest.  Read More

How much will this MEFA Loan cost me?

Learn how to use the Loan Payment Calculator to find out your projected monthly payment and total loan cost based on the amount you plan to borrow, the interest rates for all five repayment options, and the length of repayment. Read More

How Does a Recent Grad Handle Student Loan Repayment?

A UMass Amherst graduate breaks down his plan – including tackling private loans first, consolidating federal loans, switching to an income-based repayment plan, and factoring loans into an overall monthly budget.  Read More

Here’s how to repay your student loans in under 3 years

According to Student Loan Hero, “Americans owe nearly $1.3 trillion in student loan debt, spread out among about 44 million borrowers.” They also say that the average graduate from the… Read More

MEFA News

MEFA Education Loan Offers Interest Rates Among Nation’s Lowest

MEFA Education Loan Offers Interest Rates Among Nation’s Lowest Starting Rate Drops to 3.95%* MEFA’s low-cost college loan for the 2019-2020 academic year delivers interest rates among the lowest offered…

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July 18, 2019

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