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Dear Students:

MEFA recently announce that they are now able to lend the MEFA undergraduate loan which is a loan available to parents of undergraduate students:

Though acquiring funding took longer than initially projected, we are proud of the fixed interest rate product we are offering to students and parents.

Loan Features:

• 7.75% (APR* 8.43%) for the MEFA Undergraduate Loan with immediate repayment (deferment option available)**
• 8.89% (APR* 9.08% - 10.01%) for the MEFA Graduate Loan
• 4.00% origination fee (7.00% for graduate borrowers without a co-borrower)
• 15 year repayment term
• Apply online or by phone at 800-809-0571
• E-sign capability

MEFA is still not participating in the Stafford Loan program, if you previously used MEFA as the lender for your Stafford loan you will need to choose a new lender if you have not already.

Sincerely,

The Financial Aid Office