Major lender cuts private loans

When Massachusetts’ largest student-loan company announced last month that it would no longer be able to offer private student loans because of the credit crunch, 40,000 in-state students and Massachusetts families scrambled to find other lenders.

While almost all of the 250 Tufts families who were affected have managed to secure other funding, questions remain about the fate of the company, the Massachusetts Educational financing Authority (MEFA).

MEFA released an exploratory statement on Thursday to gauge consumer interest in purchasing MEFA bonds. If the company is successful in attracting investors, it will be able to provide loans gain as soon as September, spokesperson Jessica Belt said. Read full story.

(The Tufts Daily)

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