Massachusetts Educational Financing Authority (MEFA)
About
The Massachusetts Educational Financing Authority, known as MEFA, is a state authority that helps families plan, save and pay for college. It offers education programs and webinars on the financial aid process, including step-by-step guidance on completing the FAFSA. Its resources are geared to every stage, from parents of young children starting to save, to high school students planning for a degree, to college students looking ahead to a career.
MEFA runs the U.Fund college savings plan and the U.Plan prepaid tuition program, which lets families lock in tuition rates. It also offers fixed-rate college loans and loan refinancing, with a tool to check rates without affecting credit. Families can buy Gift of College and Gift of Independence e-gift cards to help a loved one save for school or for disability-related expenses.
What to Know
- Through its NextSteps program, MEFA matches contributions to new U.Fund accounts for children ages 1 to 3.
- Gift of College e-gift cards can also be used to help pay down college loan debt.
- MEFA publishes guidance on topics such as whether applying for aid affects admission.
- It is a member of the Greater Boston Chamber of Commerce.
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