Will MEFA loans be forgiven?
PSLF forgives the balance of your federal student loan debt after you have made 120 qualifying payments while participating in a qualifying federal loan repayment plan and while working for a qualifying place of employment full time.
What kind of loan is a MEFA loan?
The MEFA Loan is a non-need based family education loan funded by the Massachusetts Educational Financing Authority (MEFA). The fixed rate Undergraduate MEFA Loan allows students and their families to borrow up to the full cost of education less financial aid at Massachusetts colleges and universities.
Are MEFA loans private or federal?
Pretty much every other college loan, including the MEFA Loan, is private and credit-based, which means students need to have a co-borrower with a strong enough credit history and score to be approved.
Is MEFA a government agency?
Organizationally, MEFA is a quasi-public state nonprofit organization established under state law, but it operates largely independently of state government, and it is not financed through taxpayer dollars or state appropriations.
How old was MEFA?
A Tradition of Service
The Massachusetts state legislature created MEFA in 1982 at the request of colleges and universities across the Commonwealth. From the start, our mandate has been to offer low-cost college financing to families of aspiring college students.
What does MEFA stand for?
Medical Emergency First Aid (training course) MEFA.
Is MEFA a bank?
We're not a bank, but we're fluent in low-cost fixed interest rate loans with multiple repayment options. Review upcoming scholarships opportunities and get information on private scholarships.
How does MEFA Uplan work?
You may send your U. Plan funds to one of the plan's participating colleges and universities in Massachusetts to pay for tuition and mandatory fees, or you may request to receive the funds directly to pay for costs at a non-participating school.