Massachusetts Educational Financing Authority

Massachusetts Educational Financing Authority (MEFA) is an organization focused on state-sponsored student loan financing and related services. It provides low-cost, fixed-interest rate loans, and financial counseling to students and families seeking to fund higher education. MEFA is instrumental in supporting access to college through financial aid programs, meeting the needs of students across various educational sectors in Massachusetts. It plays a vital role in the educational finance market by offering tax-exempt college savings plans, like the U.Plan and U.Fund, which are prominent offerings designed to help mitigate the rising costs of higher education. MEFA not only plays a crucial part in assisting educational planning and funding for students but also contributes to the larger financial ecosystem by servicing debt and providing information on savings strategies, financial aid applications, and repayment options. Operating under state authority, it represents a crucial financial resource within the education sector.