Student Loans

MEFA recently announced 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.

A Framingham State College education is affordable; the expected amount of student debt upon graduation is $18,000, much less than the expected debt at many other institutions.