The Missouri Family Education Loan Program (MOFELP) is a private loan program awarded on a first come, first served basis to qualified students. The annual loan limit is $5,000 with a 0% interest rate. There are no additional fees. Borrowers are responsible for a $5 monthly keep-in-touch payment while they are enrolled in school. Qualified students must meet the following criteria:
- Be enrolled full-time
- Exceptions - (1) students graduating and in their last semester. (2) students attending summer classes and were full-time the previous term
- Making Satisfactory Academic Progress (SAP)
- EFC of $20,000 or less
- At least 17 years of age
- U.S. citizen
- Permanent Missouri resident
- Not have a bachelor’s degree
- At least 21 on ACT or 1500 on SAT; or have an overall cumulative GPA of 2.5 or higher earned at Southeast Missouri State University
- New Freshmen and New Transfer students can now qualify with a 2.50 cumulative GPA from high school (freshman) or as a transfer GPA to Southeast – this is for the first semester immediately after the transfer. After that, the student needs to have a 2.50 at Southeast going forward.
- Not have a conviction of fraud
- Two-year credit history (or have a cosigner with two-year credit history)
- Must receive annual loan limits for Federal Direct Subsidized and Unsubsidized Loans
For additional information and to request an application, visit the MOHELA website.