Pennsylvania College Grants and Loans
Pennsylvania GrantsPennsylvania’s State Grant Pennsylvania residents attending PHEEA approved schools may be eligible for this program. Most applicants need to submit the Free Application for Federal Student Aid (FAFSA) by May 1. Students enrolling in a business, trade or technical school, a hospital school of nursing, or a two-year terminal (i.e. nontransferable two-year degree) program at a community, junior, or four-year college must apply by August 1. Even if you miss the deadlines, you should still submit in case there are any funds left.
Pennsylvania Chafee Education and Training Grant Program Pennsylvania undergraduates who are aging out of Pennsyvania foster care and attending an approved higher ed program may be eligible for this grant. Submit the application.
Pennsylvania LoansKeystone BEST (Benefits Expanded for Student Tuition) Loans This is a special Stafford loan program for Pennsylvania residents or students attending Pennsylvania schools. The loans may be suubsidized or non-subsidized, students must submit the FAFSA to determine eligibility. There are other requirements.
KeystoneBEST for Parents This is a program for parents who either live in Pennsylvania or who have a student attending an accredited college in Pennsylvania. As long as the applicant is credit worthy, the loan will currently cost 8.5% and will never exceed 9%. You can borrow up to the cost of attendance less any other financial aid received. Although you need to start repaying KeystoneBEST for Parents loans about 60 days after the school receives the funds, you may be able to postpone repayment while your dependent student is still attending school at least half-time. The interest on the loan will continue to accrue. More information can be found at the Pennsylvania Higher Education Assistance Agency KeystoneBEST for Parents webpage.
KeystoneEXTRA This is a private loan program for Pennsylvania students. Applicants should have tried for all possible Stafford loans before applying for the KeystoneEXTRA.
Pennsylvania Loan Forgiveness ProgramsAgriculture Education Loan Forgiveness (AELF) Program Graduates in veterinary medicine or agriculture may have up to $2,000 per year forgiven on their eligible loans. Eligibility requirements include applicants must be a Pennsylvania resident, must owe an outstanding balance on an AES-administered, federally insured loan, and must work in a qualifying field in Pennsylvania. Other requirements may be seen at the AELF page.
Federal Teacher Loan Forgiveness Program The program allows loan forgiveness for teachers who complete at least five consecutive years teaching at certain elementary and secondary schools serving low-income families. These individuals may be eligible for $5,000 or even $17,500 loan forgiveness. Other requirements can be found at the Federal Teacher Loan Forgiveness Program page of American Educational Services.
For more information on Pennsylvania state grants and loans, please visit the Pennsylvania Higher Education Assistance Agency website.