On July 28, the Massachusetts Educational Financing Authority (MEFA) announced that it will not be able to provide loans for fall semester 2008. The non-profit organization also said that "families awaiting education loans through MEFA will need to make alternate financing arrangements to ensure timely payment of their upcoming higher education bills."

There's no need to panic; there are still lots of places at which you can apply for loans for the upcoming semester. Check with your financial aid office or even MEFA directly if you've applied for a MEFA loan. Additionally, you can head to the great resources that Allen Grove, About.com Guide to College Admission, has on his site or the long lists of college funding sources that Ken Clark, About.com Guide to College Savings, has on his site as well.