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

Why I Switched to Income-Driven Loan Repayment

While student loans are certainly not fun, they’ve become somewhat of a necessity these days for most students attending college. The average student graduates with $35,000 in loan debt. For… Read More

MEFA News

Accepted to College. What's Next?

MEFA to provide annual After the College Acceptance program for 10th year Boston – National College Decision Day is May 1st, which means that high school seniors have just under…

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