Parent Loans

A college investment yields significant rewards over a lifetime, and families should expect to pay for this investment over a period of years through savings, current income, and financing.

There are many quality options for financing the family contribution. These options have a variety of benefits and should be carefully considered, with families choosing the loan that best meets their needs. While there are alternative loans for students, we recommend parent options first.  Have all federal student loans been fully exhausted?  Review the annual student loan maximums.

The Federal Parent PLUS Loan is a non-need-based, federally guaranteed education loan for families of all income levels.  The PLUS Loan is processed and managed by Mount Holyoke College.  Loans are “variable-fixed,” meaning borrowers would receive a new rate with each new loan, but then that rate would be fixed for the life of the loan. Detailed information is available using the link to the left.

MEFA, the Massachusetts Educational Financing Authority, is a not-for-profit self-financing state authority, not reliant on state or federal appropriation, that serves students and families in Massachusetts and out-of-state students pursuing higher education in Massachusetts.  Detailed information is available using the link to the left.

Students from Vermont, Connecticut, Maine, Rhode Island, New Jersey, and other states have successfully secured funding through home state higher education assistance programs.  Many of these programs offer fixed and variable interest rates, repayment deferrals, and other payment options.