Financial Aid Advice following MEFA Loan Decision

The announcement by the Massachusetts Educational Financing Authority (MEFA) that it will be unable to provide educational loans this fall has prompted questions from some students and their families. For families who hoped to secure MEFA loans, Suzanne Peters, director of financial aid, says the Financial Aid Office is available to provide guidance and assistance to arrange financing.

Last year, approximately 10 percent of UMass Amherst students received some MEFA financing. Peters says her staff recommends that UMass Amherst families first consider the Federal Direct Parent PLUS Loan program, which enables creditworthy parents of dependent undergraduate students to borrow directly from the federal government. If that is not an option, her staff can discuss private loan alternatives. To speak with a Financial Aid counselor, please call 413-545-0801 for assistance.