Use this tool to estimate your monthly student loan payment and total cost on an Undergraduate MEFA Loan. Simply input the amount you plan to borrow, the number of years before your child graduates (e.g. 4 years for incoming freshmen, 3 years for incoming sophomores, etc.), and the estimated strength of your credit profile.
Once you’re ready to apply for a MEFA Loan, simply click the Get Started button below.
| Immediate Repayment: 10 Years | Immediate Repayment: 15 Years | Interest-Only Repayment: 15 Years | Deferred Repayment: 15 Years | Student Deferred with Co-borrower Release: 15 Years | |
|---|---|---|---|---|---|
| In-School Monthly Payment* | |||||
| Post-School Monthly Payment* | |||||
| Total Cost of Loan | |||||
| Interest Rate | |||||
| APR** | 5.75% – 8.50% | 6.00% – 8.65% | 7.15% – 8.95% | 6.73% – 8.75% | 6.81% – 8.85% |
*All loans have a minimum monthly payment of $50.
**The Annual Percentage Rate (APR) is designed to help consumers understand the relative cost of a loan and reflects the loan’s interest rate, timing of payments, and deferment period assumption. The lowest rates are only available to the most creditworthy applicants. Maximum deferment is 5 years. All payment information provided by this calculator is an estimate only. All monthly payment figures, loan balances, and total cost figures are estimates based on data you provided on the data input screens. Your actual loan payments and estimated total payment may vary based on the type of loan, interest rate, loan term, and your repayment habits.
