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Pennsylvania Student Loans

Philadelphia, the City of Brotherly Love, is the capital of Pennsylvania, a state where equal opportunity is of the utmost importance. This applies to all aspects of life but most importantly in education. In order to make sure that all Pennsylvania residents have the same opportunity to achieve their goals and obtain a high quality postsecondary education, Pennsylvania student loans have been put in place to make sure all individuals can afford to attend a college or university of their choice. Whether through a federal source or through alternative lenders like the Pennsylvania Higher Education Assistance Agency (PHEAA), you can find a great, low cost loan to help you pay for an education in Pennsylvania.

While the PHEAA offers access to the standard FFELP loans, it also caters to Pennsylvania residents who are looking to attend a school on campus. The KeystoneBEST and KeystonePLUS loans are customized federal loan applications that are specifically funded as Pennsylvania student loans. There is also a more uniquely tailored option called the Upromise loan program. When using the KeystoneBEST loan, the terms will be very similar to a federal Stafford loan, except that repayment will show a reduction in costs. The PLUS version is like the federal PLUS loan, except that, again, it is more affordable than the federal government option.

The KeystoneEXTRA is an alternative loan option put in place to cover the additional cost of college not offered by federal loans. With this option, a loan of up to $7500 is available to assist undergraduates, with graduates having access to $15,000. This is an excellent, inexpensive alternative to taking out a second mortgage to put your child through school. It's also much less expensive than a standard personal loan through a bank, which aims to profit from lending to students.

Application for these Pennsylvania student loans requires a credit check, which means that students must either have a good credit history or obtain a cosigner who qualifies. While students can enroll in any college or university in the United States and still qualify, they must be able to prove state residency to be a candidate.

Paying for school is not easy, but we are here to help. OEDb's student finance section will help you find the money you need to pay your tuition and other college expenses. We cover scholarships, college grants, and student loans. Scholarships and grants are both forms of "free money", meaning they don't need to be paid back. Scholarships are typically awarded by businesses or individuals, with the money being earmarked specifically for tuition. They can be awarded based on a student's location or by religious affiliation, such as Catholicism or Islam. Grants are typically awarded by governments or non-profit organizations and the money often can be applied to several different expenses a student may incur, not solely tuition. They can be awarded based on location or ethnicity, for instance African American or Hispanic. Loans are not considered "free money", because unlike scholarships and grants, they do need to be paid back after graduation. Common federal loans include Perkins and Stafford. Loans are also available by location.