If you need to borrow beyond the federal Direct Subsidized and Unsubsidized student loan, shop around and compare multiple lenders' interest rates, loan terms, fees, and other conditions.…

MEFA Loans are available nationwide, don't accrue interest until they are disbursed, are a family loan, have a small interest rate range, and include free guidance. …

Loan certification is a process in which the college you are attending reviews the amount you have requested to borrow in an education loan and ensures your eligibility to borrow.…

Tips include knowing the total cost of the loan, having good credit, reading the fine print, understanding that all borrowers have equal responsibility, and choosing the option that is best for your family. …

Learn if MEFA Loans require means testing, if co-borrowers roll off after a certain point, if you can borrow MEFA Loans without borrowing Federal Direct Student Loans, if there' s maximum amount you can borrow, and what to do if you are not sure how much you need to borrow. …

Federal loans can be subsidized or unsubsidized, have an interest rate that changes with each year's loans, and tend to be more lenient with repayment. Private loans are offered by various lenders, typically have interest rates tied to credit scores, and usually are stricter with repayment.…

Learn what you need to know when comparing private loan options and the steps for applying once you have decided on a lender, including visiting the lender's website, completing the application, selecting your loan, and signing the Loan Agreement with your co-borrower. …

Get the facts including interest rates, no application or origination fees, instant decision on complete applications, multiple repayment options, set monthly payments, and expert guidance. …

Next steps include signing the MEFA Loan Agreement (MLA) and Self-Certification Form, having the college certify the loan, setting up an account with our servicer American Education Services (AES), returning excess funds, and making voluntary payments if you wish to do so. …

The repayment term on a MEFA Loan will affect the total loan cost and interest rate, and determine when repayment begins. The sooner the repayment begins, the lower the total cost of the loan.…