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Can MEFA loans be forgiven?

In order to get the balance of your federal student loans forgiven, you are required to do three things. You have to make 120 eligible payments. on an eligible loan while working for an eligible employer. And were going to define all those eligibles in a minute.

What is the interest rate on a MEFA loan?

MEFA graduate loans have fixed interest rates from 6. 55% to 7.95% APR** with multiple repayment options. By borrowing a loan with a fixed interest rate, youll ensure stable, predictable monthly payments for the life of the loan.

Are MEFA loans private or federal?

MEFA Loans are private family loans, not federally held student loans, and are not covered by the suspension on repayment. However, MEFA does have relief options available.

What does MEFA stand for in Massachusetts?

There has been a surge in new collections lawsuits in Massachusetts against student loan borrowers during the past year. Based on what Im seeing on the ground, the majority of these suits are being initiated by one entity: an organization called the Massachusetts Educational Financing Authority, also known as MEFA.

Are MEFA loans only for Massachusetts residents?

Were nationwide. Though we have Massachusetts in our name, you dont need any connection to the Bay State to borrow a MEFA Loan. Were available to families across the country for students going to school anywhere in the U.S.

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