Articles from MEFA

For many families, a college loan bridges the gap after financial aid between the family’s ability to pay and the full cost of college. With so many options available, it’s easy to get distracted by a low-advertised interest rate, small incentive, or a catchy tagline. That’s why MEFA advises families to look at the whole picture carefully to understand the true cost of borrowing.

This might be the hardest part of the college planning journey. Now that students have received their college acceptance letters and financial aid offers, they must take the time to evaluate what’s in front of them and make a choice about where to attend.

A new federal financial aid term—the Student Aid Index (SAI)—dominated the interest of visitors to MEFA’s free, online, college-planning resource center in 2024. The SAI topic proved most popular among MEFA’s articles, calculators, and videos.

This holiday season, why not help your loved ones pay for a college education? For most parents of college-bound children, a contribution to a college savings account is a welcomed gift. MEFA has partnered with Gift of College, a platform that allows friends and family members to contribute to a 529 college savings plan (or ABLE account) or help pay down student loans through gift cards that are made available at CVS stores across the Commonwealth. Gift cards may also be purchased online at giftofcollege.com.

If you’re keeping your eyes out for higher education news, you may have heard that the 2025-26 FAFSA (Free Application for Federal Student Aid), is now available in beta testing mode before the official launch on December 1, 2024. Here are some steps you can take now to get yourself prepared for the experience.

MEFA’s U.Fund College Investing Plan has earned a Gold Medal Rating from Morningstar, placing it among the nation’s best 529 college savings plans. Families have been saving in the MEFA U.Fund for 25 years, making it one of the first 529 plans available in the country.

By now, many families with college-bound students have successfully completed this year’s financial aid process and are on to the next task: finding an affordable loan to cover any remaining college costs. How can students and parents do this? Shop around and compare options to reduce the overall cost of borrowing, MEFA advises.

Using a tax refund to add money to a 529 college savings account is one of the best ways to boost college savings, and it’s possible to transfer a tax refund directly into a 529 account. This is one of several tax season tips that can help families save for college, advises MEFA.

The holiday-giving season presents parents with the perfect opportunity to nudge family and friends toward contributing to a child’s college savings account rather than giving a material gift.

MEFA Encourages Giving the Gift of Savings for the Holidays