<p>Massachusetts Governor, Deval Patrick, announced the infusion of $300 millions into a state loan agency last week. It will offer students attending college in Massachusetts for the upcoming academic year.</p>
<p>The first step toward future success starts with education and securing opportunities for tomorrows workforce. Through our continued partnership with MEFA, we are making a college education affordable and accessible for more Massachusetts students, and thats good news for all of us. Patrick said in a press release. MEFA is The Massachusetts Educational Financing Authority.</p>
<p>Christine McGuire, Boston University Executive Director of Financial Assistance, said the funding will increase the financing options available to Boston University families, but it will not affect how much financial aid is awarded by Boston University. The choice to borrow a MEFA loan, or any other private, credit-based loan, generally happens after financial aid has been awarded, McGuire said. These loans are used by a family to supplement the familys contribution to the cost of education.</p>
<p>Greg Meyer, College of Arts and Sciences (CAS) senior, said even though he does not have any loans himself, he thinks Patricks announcement is phenomenal. During the economic downturn, the more financing options, Meyer said, the better. Hopefully, the economy will get better and offer a greater variety of student loans, but I dont believe that is going to happen any time soon. At least for now, its good to know that students have at least some options for loans.</p>
<p>CAS junior Natalie Robinson said. I may need to take out student loans for graduate school so I think this is pretty good news …</p>
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