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New Website for Students in Massachusetts

Good news for students looking for loan opportunities in Massachusetts! Gov. Deval Patrick of Massachusetts recently put up a website for students looking for loan programs to help them in their school needs most especially on financial matters. Patrick’s plan was realized when he heard many students are complaining for no enough resources that could augment their studies. There were 40,000 families in Massachusetts that the governor wanted to help. The families, according to Gov. Patrick, were former beneficiaries of the Massachusetts Educational Financing Authority. This report came after MEFA announced on July 28 to suspend its student loan programs. MEFA’s sad announcement also came when the state also suspended its federal student loans, citing among others the troubled economy. MEFA has served the people for almost 30 years until it finally ended its loan program operations last month.

Based on the reports reaching this site, the governor’s website offers student-borrowers knowledge about student loans as well as the various sources of loans so that students would be able to explore more what are other loan opportunities maybe available for them. The governor also directed his IT team to make sure to include the list of resources for easy access of interested students. It maybe noted that many schools world wide are also having problems on student’s financial incapacity to proceed to college.

Aside from the governor’s new website, he also asked the Massachusetts pension fund to respond to the problem by way of investing at least $50 million and help restore liquidity of funds for MEFA. He said they can do this by simply buying the MEFA bonds. In this way, the MEFA will be able to finance again new student loans through the proceeds they can get from the sale of the bonds. He also intends to challenge Harvard, Boston College, the University of Massachusetts and MIT to make similar investments to help the students continue their studies.

Governor Patrick is optimistic this problem could be given solutions in the future days and he would not stop doing what he think is right to help the students continue their studies. He said education is very important for all the students so that they can prepare for their future. That’s why, he said, online college degree is opened online to make education available for all – and if there are students deprive of this opportunity it would be very touching to note.

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