MEFA Suspends Loans

Just weeks away from the start of the new academic year, Massachusetts' largest non-profit college loan agency has decided to suspend most of its program.

The Massachusetts Educational Financing Authority, or MEFA, said yesterday that turmoil in the financial markets meant it couldn't secure enough funding to provide loans for the upcoming Fall semester.

For a look at the impact of this development, WBUR's Deb Becker turns to Pat Reilly. She's Director of Financial Aid at Tufts University.