College Loan Funds Dry Up For 40,000 Students
Wednesday, July 30th, 2008BOSTON (WBZ) ― Tens of thousands of college students are now wondering how they’ll pay for their tuition bills due next month after a popular state lending authority said it has no funds.
The Massachusetts Educational Financing Authority, MEFA, announced it would not be able to provide private loans to students this semester. This comes after MEFA’s announcement in April, saying it could not provide federal loans.
About 40,000 students will be affected.
MEFA Executive Director Thomas Graf told WBZ MEFA is still trying to secure financing. He said the agency has been in frequent e-mail contact with customers and financial aid directors, warning that funding was not yet available. (Read the full post about ‘College Loan Funds Dry Up For 40,000 Students’…)