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Loan with Pennsylvania Students in Mind  

Through the PA Forward Student Loan Program, the Pennsylvania Higher Education Assistance Agency (PHEAA) offers private  student loan options to enable Pennsylvania students to pursue their higher education dreams and to make managing their loans  easier and more convenient.  

The PA Forward Student Loan Program has the following benefits: 

• No application or origination fees 
• Low fixed interest rates 
• Multiple repayment options 
• Potential interest rate rewards 
• No prepayment penalty 

For undergrad, grad, and parent loans, you can even borrow up to 100% of the certified cost of attendance (tuition, fees, room,  board, books, etc.). 

Eligibility for Undergrad, Grad, or Parent Loans 

The PA Forward Student Loan Program is designed specifically for students or parents/guardians of students who are enrolled or  who plan to be enrolled in a degree, certificate, or diploma granting program. For Parent loans, the student must be enrolled half time. These loans are meant for: 

• PA residents attending an approved school in or out of PA 
• Students from an approved state (DE, MD, NJ, NY, OH, VA, and WV) attending an approved PA school • U.S. citizens or eligible non-citizens of the U.S. 
• Borrowers and/or co-signers who meet the minimum credit requirements 

Eligibility for Refinance Loans 

The PA Forward Refinance Loan is a loan designed specifically for those who are in repayment and want assistance with managing  their student debt. This loan is meant for: 

• Any PA resident or resident of an approved state (DE, MD, NJ, NY, OH, VA, and WV) who is the borrower for the student loans • Borrowers who are currently in repayment 
• U.S. citizens or eligible non-citizens of the U.S. 
• Borrowers and/or co-signers who meet the minimum credit requirements 

Co-signer 

The PA Forward Student Loan Program does not require you to have a co-signer unless you have not met the age of majority  based on your law of your state of residence or you do not meet the minimum credit requirements. However, you may benefit  from a creditworthy co-signer. Having a co-signer may increase your chances that the loan will be approved and, perhaps, may get  you a better interest rate. 

Loan Types

Currently there are four loan types in the PA Forward Student Loan Program. 

 

Plan Ahead & Be a Smart Borrower

The world of student aid can sometimes be difficult to navigate. However, it doesn’t have to be. We have gathered information that will make it easier for you to understand.