What does ACS/MEFA mean on my credit report?

Learn about ACS/MEFA, an student debt offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is ACS/MEFA?

ACS/MEFA is shorthand for Massachusetts Educational Financing Authority, with the company name being Massachusetts Educational Financing Authority

All of our work matches with our ever-present goal to provide support to the independence, growth and success of students and their families. A tradition of service The Massachusetts State Legislature founded MEFA in 1982 at the invitation of higher education institutions throughout the commonwealth.

ACS/MEFA is a Student Loan Debt provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.
  • ⚫ You opened an account with Massachusetts Educational Financing Authority.
  • ⚫ Massachusetts Educational Financing Authority bought your debt and are now trying to collect on it.
  • ⚫ You opened a credit card / loan / mortgage with this company.
  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average high credit balance is $26700.

  • ⚫ The typical loan duration is 240 months.

The account is classified under the following METRO2 categories:

  • ⚫ Education

How do I contact them?

Here is the current contact details for Massachusetts Educational Financing Authority:


  • MEFA
    60 State Street
    Suite 900
    Boston, MA 02109





To make a payment, you can use MEFA’s online loan certification system. This system is designed to be secure and easy to use. You can access your Loan Status data by downloading it into Excel, and you can adjust your loan with a reduction request. Furthermore, you can send refunds electronically or with a paper check.Private loans can be taken out for one academic year and should only be taken out for the amount that is needed after considering other sources of funding. The borrower on private loans is either the student, who must have a credit-worthy co-signer, or the parent. The money is sent directly to the school by the lender upon confirmation of the student’s eligibility for the loan.The best/preferred method for processing MEFA Loan refunds is to send them electronically. If electronic refunds are unavailable, paper checks can be sent. For loan adjustments, contact MEFA directly.other payment options such as using a check or money order are available.there are penalties for late or missed payments.

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? Yes
Can I make payments online? Yes
Do they offer a discount for automatic payments? No
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

Private loans can be applied for one year or four years and the amount of the loan should be based on the total Cost of Attendance minus any financial aid received. Generally, the student will need a credit-worthy co-signer and the loan lender will confirm the student’s enrollment and eligibility with the school before the money is released. To qualify for loan forgiveness, a user must meet certain requirements for their password and make sure it does not expire after 90 days. They must also have access to a College Administration data and have an Application ID to access loan status. They can then apply for certifications and make changes if needed. Refunds can be processed electronically or with a paper check.

Question Answer
Do they offer loan forgiveness? Yes
Do they offer loan consolidation? No

How to Apply

To apply for a loan, you can do it online, in person, or using a mobile app. For online and mobile applications, you will need a secure password that must be changed every 90 days. When applying in person, the process will depend on the specific lender. You can also apply for a loan with a cosigner.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? Yes
Can I apply for a loan using a mobile app? Yes
Can I apply for a loan with a cosigner? Yes

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

ACS/MEFA IdentityIQ Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

What is Student Loan Debt?

Student Loan Debt is taken on fund your your education, the amount taken on debt wise is usually high with long repayment times. Due to the fact that the repayment times are so long, it increases the chance of administrative errors being made: These will permanently be reflected on your credit report. If you believe that you have been affected by any administrative errors then you should take action to fix the issues.

How do I remove ACS/MEFA from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.