5 Resources to Help You Borrow Wisely

If you're sending a child to college this fall, you likely have a bill deadline in the next few weeks. And if you're considering a loan to help pay those costs, now's the time to evaluate your options and make a decision. To help you do so, we've put together a list of resources below. Each one will help you select the best loan for your family, based on your circumstances.

1. Our How to compare college loan options blog includes a slideshow with key loan terminology, information to help you differentiate between lenders, and tips to minimize your debt.
2. Our CFO Jim Leighton shares facts to consider before selecting a loan and guidance in determining how much to borrow in our short video, Tips on Being a Wise Borrower.
3. Common MEFA Loan Questions includes the answers to some of our most frequently asked questions about college loans. You'll learn about multi-year borrowing, using loans for non-billed expenses, and when to start the process.
4. Use our Loan Payment Calculator to compare the five undergraduate MEFA loan options, and to find out the true expense of borrowing. You can enter any loan amount to determine your monthly payment and total loan cost.
5. Our Borrow Wisely webpage includes a summary of different ways to finance higher education, definitions of words and phrases used in college lending, and key borrowing tips.

As you evaluate your college loan options, reach out to us at MEFA with your questions. We're happy to talk with you one on one to provide information and guidance as you make your college financing plan. You can reach us at (800) 449-MEFA (6332) and info@mefa.org.