To minimize borrowing, we also recommend that you consider using your college's monthly payment plan to pay for a portion of your college costs. Payment plans are interest-free but usually require a small fee. Talk to your college financial aid office for further details. When you're ready to apply, simply click the blue Get Started button below. Once you provide your information, you will be presented with the MEFA Loans you are eligible to borrow based on the credit profile of all borrowers on the loan.  As a reminder, MEFA Loans are family loans, and therefore a student borrower will need a co-borrower with a reputable credit history. Learn about co-borrowing loans here.




Labels
 Immediate Repayment: 10 Years Immediate Repayment: 15 Years Interest-Only Repayment: 15 Years Deferred Repayment: 15 Years Student Deferred with Co-borrower Release: 15 Years
In-School Monthly Payment
In-School Monthly Payment
Post-School Monthly Payment
Post-School Monthly Payment
Total Cost of Loan
Total Cost of Loan
Interest Rate
Interest Rate
APR**
APR**		 5.75% - 8.50% 6.00% - 8.65% 7.15% - 8.95% 6.73% - 8.75% 6.81% - 8.85%
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*All loans have a minimum monthly payment of $50

**The Annual Percentage Rate (APR) is designed to help consumers understand the relative cost of a loan and reflects MEFA's current underwriting criteria, loan rates, and deferment period assumption. MEFA's lowest rates are only available to the most creditworthy applicants. Maximum deferment is 5 years.

All payment information provided by this calculator is an estimate only. All monthly payment figures, loan balances, and total cost figures are estimates based on data you provided on the data input screens. Your actual loan payments and estimated total payment may vary based on the type of loan, interest rate, loan term, and your repayment habits.

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