Fewer Loans for Online Students in Massachusetts

Posted by in Uncategorized Jul 31st, 2008

Photo courtesy of iStockphoto, Amanda Rohde

Some Massachusetts students may have difficulty securing student loans this year. The New York Times reports:

"The Massachusetts Educational Financing Authority, which secured more than $500 million in educational loans last year, announced Monday that it would not offer loans for the coming academic year.

The self-financing state authority, known as MEFA, was unable to secure financing for the 40,000 students it services, said Tom Graf, the authority's executive director, in a statement. The authority offers fixed-rate loans to students who live in Massachusetts or attend school there.

Mr. Graf said disruptions in the capital markets were why the financing authority could not obtain money."

If you're depending on Massachusetts student loans for the coming semester, check with your lender about availability.

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