Senate calls for universities and colleges to use financial might to rescue student lender
BOSTON —The state Senate is calling on colleges and universities to pool their financial strength to rescue a troubled student-loan agency.
The Massachusetts Educational Financing Authority said Monday that skittish investors have refused to finance its $500 million in private student loans, leaving 40,000 students and their families looking for new lenders just as fall tuition [...]
Colleges urge loan alternatives MEFA dries up, so search is on
WORCESTER— The tuition deadline for Clark University had already passed and that of Worcester Polytechnic Institute was just days away when the Massachusetts Educational Financing Authority announced Monday that it would not offer private student loans this fall.
The organization stopped offering federal loans in April.
As many as 40,000 students are affected statewide, and local [...]