Exit counseling may also be done in the Loan Repayment Office at the time of withdrawal. The latter option is preferred, because we want you to understand your repayment responsibilities and your rights as a borrower. This low-interest loan is an alternative loan program for families of dependent students who need additional assistance. They are also available in the Financial Aid Office. The loan is subject to credit approval.
Approved borrowers can select either a fixed or variable interest rate.
Fixed rates are set annually with the variable rates adjusted monthly. Payment begins immediately. Contact the Financial Aid Office for further information. The MEFA Loan is also available to Canadian families. It is available to students from other countries if they have a credit worthy U.S. sponsor willing to be the primary applicant.