KeystoneBEST

KeystoneBEST offers Pennsylvania borrowers a choice as a result of the partnership between PHEAA and its participating lenders.

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Eligibility

Special KeystoneBEST Stafford loan requirements:

You also must complete the FAFSA (Free Application for Federal Student Aid) and meet general Stafford loan eligibility requirements.

Features & Terms

Who Pays
  • The student repays the loan.
  • No payments are required while you attend school at least half-time.

Interest Rates
  • All federal Stafford loans disbursed on/after July 1, 2008, and before July 1, 2009, will be fixed at 6.8% with the exception of the undergraduate subsidized Stafford which will be fixed at 6%.

Interest Payments
  • Subsidized loans - the federal government pays the interest while you are in school, during your grace period or during any deferment period.
  • Unsubsidized loans - you are responsible for interest payments and can choose to pay them while in school or have them added to the principal balance.

Fees
  • PHEAA will pay the 1% federal default fee on behalf of lenders who participate in the KeystoneBEST loan program.
  • Origination fees will not exceed 1%. Participating lenders may offer a reduction in the origination fees. View the 2008-09 participating lender list.

Grace Period
  • A 6-month grace period begins when you leave school, graduate or drop below half-time enrollment.

Repayment
  • Take 10 years to pay - longer with flexible repayment options.
  • No penalties for paying your loan off early.

Loan Management
  • Once your loan(s) enter repayment, receive single-point customer service from American Education Services Exterior Link (AES). PHEAA's public service mission is powered by AES, our national commercial business enterprise.
  • Stafford loans in repayment or in a grace period are eligible for loan consolidation.
  • Manage your AES-serviced loans online any time.
  • Get single-statement billing for multiple loans.
  • We are with you every step of the way. Contact us.

Annual Loan Limits

Dependent Undergraduates
(Exclusive of students whose parents are unable to borrow under the PLUS program)		 Subsidized Total (Subsidized and Unsubsidized)
First Year $3,500 $5,500
Second Year $4,500 $6,500
Third year and beyond $5,500 $7,500
Aggregate Limits $23,000 $31,000
Independent Undergraduates
(And dependent students whose parents are unable to borrow under the PLUS program)		 Subsidized Total (Subsidized and Unsubsidized)
First Year $3,500 $9,500
Second Year $4,500 $10,500
Third year and beyond $5,500 $12,500
Aggregate Limits $23,000 $57,500
Independent Graduate and Professional Students Subsidized Total (Subsidized and Unsubsidized)
Graduate and professional students $8,500 $20,500
Aggregate Limits $65,500 $138,500

These annual loan limits apply to loans disbursed on/after July 1, 2008.

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