PA's Low-Cost Way to Pay for College

Parent Loan

Competitive Interest Rates

Competitive Interest Rates

With our competitive, fixed interest rates, you never need to worry about your interest rate going up!

4.87%–9.20% APR1

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Interest Rate Reward

With our great interest rate reward, you could save a total of 0.25% off your fixed interest rate!

.25% Rate Reduction 0.25 % Rate Reduction

Save Time and Money with Direct Debit!

Direct Debit is a free service that sets up an electronic deduction from your checking or savings account each month. You will qualify for a 0.25% interest rate reduction upon Direct Debit approval.

Are you a Pennsylvania Commonwealth or PHEAA employee?
See if you qualify for an additional 0.25% interest rate reward.


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Loan Information

Helping parents or guardians cover the costs of college is exactly why the PA Forward Student Loan Program was established.

  • Borrow up to 100% certified cost of attendance (tuition, fees, room, board, books, etc.) up to the aggregate limit of $150,000
  • Minimum loan amount: $1,500
  • No pre-payment penalty
  • No origination or application fees
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Application Process Made Easy

1

Step One

Check your eligibility

2

Step Two

Create an account

3

Step Three

Tell us about yourself

4

Step Four

Submit your application

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Helpful Tips


Here is what you need to have ready when filling out your application:

  • Name, address, and telephone number
  • Date of birth and Social Security number
  • Email address
  • Name and location of the school your student plans on attending
  • Annual income
  • Grade level and anticipated graduation date
  • Academic period for which you would like to receive the loan
  • Mobile phone to receive one-time passcode for electronic signature
Still Have Questions?

Still Have Questions?

Visit frequently asked questions about PA Forward's Parent Loan.

See Questions

1 Annual Percentage Rate (APR) Calculations: The lowest APR is based on the following assumptions: a loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan, monthly payments of $188.16 for a period of 60 months, a fixed periodic interest rate of 5.13% and total payments of $11,289.78. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period. This APR is an estimate and may differ from the actual rate received.
The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Interest Only Repayment Plan and a repayment term of 180 months, monthly payments of $76.92 for 46 months and monthly payments of $102.80 for the remainder of the repayment term, a fixed periodic interest rate of 9.23% and total payments of $22,042.06. The borrower in this sample did not qualify for any interest rate discounts.
These APRs are estimates and may differ from the actual rate received.

2 Repayment Terms (No interest rate discounts were applied to these examples.):

  • A borrower of a $10,000 loan who selects a 5-year (60 months) repayment term may receive an APR between 5.12% and 8.20%, monthly principal and interest payments between $189.31 and $203.87, and a total amount repaid between $11,358.51 and $15,386.82.
  • A borrower of a $10,000 loan who selects a 10-year (120 months) repayment term may receive an APR between 6.31% and 8.70%, monthly principal and interest payments between $112.68 and $125.22, and a total amount repaid between $13,522.19 and $18,372.80.
  • A borrower of a $10,000 loan who selects a 15-year (180 months) repayment term may receive an APR between 6.81% and 9.20%, monthly principal and interest payments between $88.94 and $102.80, and a total amount repaid between $16,008.31 and $22,042.06.

NOTE: Subject to aggregate loan limits.

The PA Forward Student Loan Program is a credit-based loan program. Applicants are subject to credit qualifications, completion of an application and credit agreement, and verification of application information. PHEAA uses applicants FICO scores to determine eligibility and interest rates. Higher credit scores may mean an applicant is offered a lower interest rate. PHEAA reserves the right to discontinue all programs or benefits without prior notice.

PHEAA is Invested in You!

We have been helping students since 1963; and our mission has been to create affordable access to higher education for students and families.