BOSTON, July 15, 2019 (GLOBE NEWSWIRE) --
MEFA’s low-cost college loan for the 2019-2020 academic year delivers interest rates among the lowest offered by an education loan lender and is a significantly lower-cost option than the Federal PLUS Loan.
MEFA recently unveiled an enhanced 2019-20 student loan product, offering:
- Fixed interest rates, starting as low as 3.95%*
- No origination fee, application fee, or prepayment penalty
- Multiple repayment options
- Predictable and stable monthly loan payments for the life of the loan
A leader in college financing products, MEFA also provides valuable tools and guidance designed to help families make smart decisions when it comes to paying the college bill. The availability of MEFA’s financing products to students and parents across the country enhances MEFA’s mission of service to help families access and afford a higher education.
“MEFA is proud to offer high-quality, low-cost, fixed interest rate education loan solutions to students finalizing plans to pay the college bill,” said Thomas Graf, Executive Director of MEFA. “Since our founding in 1982, MEFA’s mission has been to help families make smart decisions on planning, saving, and paying for college.”
The MEFA Loan for the upcoming academic year offers fixed interest rates of 3.95-7.30% APR for the life of the loan.
In addition to MEFA’s student loans, families across the country may take advantage of MEFA’s other financial products, including MEFA’s Education Refinancing Loan, the U.Fund® 529 College Investing Plan, the U.Plan® Prepaid Tuition Program, and the Attainable Savings Plan, created to help families save for the expenses of eligible individuals with disabilities. MEFA also offers a full suite of free educational tools and services to help with every step in the college planning process.
For more information on how MEFA helps families plan, save, and pay for college, call (800) 449-MEFA (6332) or visit mefa.org.
*The Annual Percentage Rate (APR) is designed to help consumers understand the relative cost of a loan and reflects the loan’s interest rate, timing of payments, and fees.
About MEFA
MEFA is a not-for-profit, self-financing public entity established in 1982. MEFA’s mission since its founding has been to help students and families access and afford higher education and reach financial goals through education programs, tax-advantaged savings plans, low-cost loans, and expert guidance. All of MEFA’s work aligns with the ever-present goal to support the independence, growth, and success of students and families. Visit mefa.org to learn more or follow MEFA on Twitter @mefatweets and on Facebook at mefaMA.