How do I check my MEFA loan?
Visit the AES website to get started. Each borrower on a loan can and should establish his or her own Account Access username and password in order to view information specific to his or her MEFA Loans.
What kind of loan is a MEFA loan?
The Massachusetts Educational Financing Authority, known as MEFA, offers student loan refinancing and private student loans for undergrads and graduate students across all 50 U.S. states. Its refinancing loan is best for borrowers with a stable income who don't have a degree.
Can you defer MEFA loans?
Repayment Options for MEFA Undergraduate Loans
Loan must be fully repaid within 15 years of final disbursement. Deferred: Repayment of principal and interest is deferred until six months after the student graduates, leaves the program, or reduces hours to less than half-time.
Is MEFA a bank?
We're not a bank, but we're fluent in low-cost fixed interest rate loans with multiple repayment options. This holiday season, MEFA is encouraging gift-givers to consider contributing to a child's savings account in lieu of tangible gifts. Learn more about how to get started helping a child save for the future.
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.
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.
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.