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

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’s the difference between my subsidized and unsubsidized student loans?

The differences between Subsidized and Unsubsidized Loans include the timing of when interest starts accruing, the eligibility for awarding based on financial need, and the maximum amount permitted. Read More

Learn about the cost of borrowing from MEFA Pathway’s Loan Cost Estimator

The tool provides students a monthly student loan payment and total loan cost based on a potential loan amount borrowed. Then, it assesses the ease of repayment based on a chosen career. 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

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…