We found the application for a student loan straightforward with MEFA. There are several ‘Apply Now’ links through the site, including the one shown below.
In fact, the process for applying for a loan was incredibly straightforward. Below are the steps required to complete the process of obtaining a student loan from MEFA.
- Register for a MEFA account. We needed to provide our name, current and previous addresses, date of birth, phone number, email address, Social Security Number, monthly income, and employment history.
- Approve having a credit check performed. The credit check decision came back instantly, leading us to the loan selection page.
- Choose the MEFA student loan that you require. After passing the credit check, we could view the different loan options available to us. This stage included finalizing the details of the loan, which involved selecting the amount, terms of the loan, and payback period.
- Complete the relevant paperwork. Once the amount and terms of the loan were finalized, we were required to sign several documents. These included the Loan Approval Disclosure and the Loan Agreement. We also needed to submit a self-certification form detailing the cost of attending college.
- Receive funds. After we completed all relevant paperwork, we received the loan via payment through our college.