Get the free MEFA Undergraduate Loan Application - mefa
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This document provides a detailed application for MEFA's undergraduate loan programs, including immediate repayment, interest-only payments, and deferred repayment options.
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How to fill out mefa undergraduate loan application
How to fill out MEFA Undergraduate Loan Application
01
Gather necessary documents, including income information and school details.
02
Visit the MEFA website and navigate to the Undergraduate Loan Application page.
03
Create an account or log in if you already have one.
04
Fill out the personal information section, including your name, address, and Social Security number.
05
Enter your school information, including the name of the institution and the estimated cost of attendance.
06
Provide details about your income and financial situation as requested.
07
Review your application for accuracy and completeness.
08
Submit the application and wait for confirmation from MEFA.
Who needs MEFA Undergraduate Loan Application?
01
Students who require financial assistance to pay for their undergraduate education.
02
Parents or guardians looking to finance a student's college education.
03
Anyone who is enrolled or planning to enroll in an eligible undergraduate program.
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People Also Ask about
Does MEFA have prepayment penalty?
There is no origination fee, application fee, or prepayment penalty.
How do I pay my MEFA loan?
Call (800) 233-0557 to make a MEFA Loan payment over the phone. AES's 24/7 self-service phone feature allows you to schedule a one-time electronic payment from your checking or savings account.
Who is eligible for the MEFA loan?
To be eligible for a MEFA Loan, the student must be enrolled at least half time in an accredited degree-granting undergraduate or graduate program at an eligible non-profit college or university in the United States.
How do I pay a Mpower loan?
International Bank Account, Credit Card, or Debit Card (Payments in Other Currencies): You can make a one-time payment in most currencies or use your credit or debit card through Flywire or NorthStar.
How do I make a payment on my MEFA loan?
Call (800) 233-0557 to make a MEFA Loan payment over the phone. AES's 24/7 self-service phone feature allows you to schedule a one-time electronic payment from your checking or savings account.
Can MEFA loans be forgiven?
Once a borrower has made payments under the SAVE plan for 20 years (for undergraduate loans) or 25 years (for graduate loans), any remaining balance is forgiven. For borrowers who begin repayment with a balance of under $12,000, that payment threshold for loan forgiveness is reduced to 10 years.
What credit score do you need for a MEFA loan?
MEFA Student Loan Refinance Review Loan Limits$10,000+ Fixed Rates 6.20% – 8.99% Variable Rates None Terms 7, 10 or 15 years Min. Credit Score 670 (soft minimum)1 more row • Mar 1, 2025
Can MEFA loans be forgiven?
Once a borrower has made payments under the SAVE plan for 20 years (for undergraduate loans) or 25 years (for graduate loans), any remaining balance is forgiven. For borrowers who begin repayment with a balance of under $12,000, that payment threshold for loan forgiveness is reduced to 10 years.
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What is MEFA Undergraduate Loan Application?
The MEFA Undergraduate Loan Application is a financial application process for students seeking loans to fund their undergraduate education through the Massachusetts Educational Financing Authority (MEFA).
Who is required to file MEFA Undergraduate Loan Application?
Students who are pursuing undergraduate degrees and wish to borrow money for their education expenses through MEFA are required to file the MEFA Undergraduate Loan Application.
How to fill out MEFA Undergraduate Loan Application?
To fill out the MEFA Undergraduate Loan Application, students must gather necessary financial information, complete the online application form through the MEFA website, and submit it along with any required documents.
What is the purpose of MEFA Undergraduate Loan Application?
The purpose of the MEFA Undergraduate Loan Application is to facilitate access to funding for students' college expenses, helping them manage the cost of tuition, fees, books, and living expenses during their undergraduate studies.
What information must be reported on MEFA Undergraduate Loan Application?
The information required on the MEFA Undergraduate Loan Application includes personal identification details, financial information about the student and family, cost of attendance, and information about any other financial aid received.
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