CLARION CO., Pennsylvania (EYT) – FUN Bank has partnered with the Pennsylvania Higher Education Assistance Agency (PHEAA) to help customers finance their higher education through the borrower-friendly PA Forward Student Loan Program.
The PA Forward Student Loan Program is a suite of trusted loans for undergraduate and graduate students and parent borrowers, plus a PA Forward Refinance Loan that allows participating borrowers to combine all of their federal loans and private in one convenient monthly payment.
Through the program, FUN Bank customers can borrow up to the full cost of participation with competitive interest rates and a variety of upfront and repayment benefits.
The PA Forward Student Loan Program leverages the combined resources of the Commonwealth of Pennsylvania to provide loans at low rates with better benefits for borrowers than most commercial private loan programs. PHEAA serves as the lender and loan agent for the program, with a tax-exempt allowance provided by the Department of Community and Economic Development (DCED).
The PA Forward Student Loan Program is designed specifically for students or parents/guardians of students enrolled or planning to enroll in a degree, certificate or diploma program. For parent loans, the student must be enrolled half-time. These loans are intended for:
- PA residents attending an approved school inside or outside the 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 United States
- Borrowers and/or co-signers who meet minimum credit requirements
The PA Forward Student Loan Program includes four student loan products:
- PA Forward Undergraduate Loan for students seeking a diploma, certificate or undergraduate degree
- PA Forward Graduate Loan for students seeking a higher degree such as masters, doctorate, law, health profession
- PA Forward Parent Loan for parents or guardians of dependent undergraduate students seeking an undergraduate degree, certificate or degree
- PA Term Refinance Loan for borrowers in repayment looking for an easier way to manage their debt by combining all their federal and private student loans into one monthly payment under new terms and conditions
The program offers competitive fixed interest rates and benefits for undergraduate and graduate borrowers, including a 0.50% interest rate reduction for successful graduation. Additional benefits for all borrowers include no set-up or set-up fees, 0.25% interest rate reduction for direct debit sign-up, flexible repayment options, and all-in-one payment options. the two weeks that can pay off a loan sooner, saving borrowers even more money in interest.
PHEAA’s earnings from the PA Forward Student Loan Program are used to support the agency’s public service mission for Pennsylvania Students and Families.
For more information, visit the FUN Bank website https://www.fun-bank.com/student-loans.html.
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