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CLOSED Monday,
May 27th
Memorial Day
REGULAR HOURS:
Monday, Tuesday,
Wednesday, Friday:
9:00 a.m. - 5:00 p.m.
Thursday:
9:00 a.m. - 6:00 p.m.
Closing or delay due to weather? Check WFMZ:
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Student Loans
These loans are available as…
- Subsidized: The federal government will pay the interest on a subsidized loan while the student is in school. You must have "financial need" to qualify for this interest subsidy.
- Unsubsidized: Students are responsible for all the interest on an unsubsidied loan from the date it is disbursed. The federal government does not pay any interest on your behalf. This type of loan is limited to the cost of your education minus your other student aid.
Students must complete a FAFSA application (available at http://www.fafsa.ed.gov) to determine student aid eligibility.
KeystoneBEST Immediate Savings
KeystoneBEST is available with no up-front costs, because:
- Students save 1% since the PHEAA pays the federal default fee.
- Students save an additional 1% in origination fees, underwritten by PHEAA.
- Students can save an additional 1% in origination fees, underwritten by lenders.
KeystoneBEST Additional Benefits
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Benefit
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Loans Disbursed Prior To July 1, 2006
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Loans Disbursed On or After July 1, 2006
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Consecutive on-time payments required for a 2% rate reduction.
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48
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36
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Students receive a 1% Graduation Credit for completing their education.
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No
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Yes
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.25% rate reduction for automatic direct debit of payments
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Yes
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Yes
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Flexibility of combined or separate billing for multiple loans
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Yes
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Yes
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Single point of contact for customer service for the life of the loan
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Yes
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Yes
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KeystoneBEST Student Loan Eligibility Requirements
- Must be a Pennsylvania resident, attending any school approved by the U.S. Department of Education (DOE), regardless of the location of the school, OR, be an out-of-state resident attending any DOE-approved school in Pennsylvania .
- Does not have to satisfy an income requirement (but must have financial need to receive a subsidized loan).
- Must meet the standard Stafford eligibility requirements.
- Must be a U.S. citizen or eligible non-citizen.
- Must be accepted for enrollment in a participating school; or, if enrolled, be making satisfactory progress.
- Must be classified as at least a half-time student and working toward a degree or certificate.
- Cannot be in default on an education loan.
- Must be registered with the Selective Service, if required.
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The Parent PLUS loan is a program in the Federal Family Education Loan Program (FFELP). Together with lending institutions throughout the Pennsylvania community, however, we customized a version of this loan program to create the KeystonePLUS loan program for Parents. The KeystonePLUS for Parents loan helps parents meet educational costs not covered by their child’s financial aid package.
Advantages of the KeystonePLUS loan program:
- Rebate up to 2% of the loan amount (1% rebate for the first 24 consecutive,
on-time payments, and 1% at the 48th consecutive, on-time payment).
- Interest rates vary but cannot exceed 9% annually.
- Interest payments may be tax deductible.
- Interest rate reduction of .25% for using Direct Debit to repay your loan.
- Participating lenders may discount the interest rate by an additional percentage at first disbursement (Please check with your lender for further details).
- Access to account information 24 hours/day.
- Single-statement billing available.
Eligibility Requirements for KeystonePLUS:
- Must be Pennsylvania residents with a child attending any Department of Education-approved school or may be out-of-state and have a child
attending any Pennsylvania Department of Education-approved school.
- Do not have a family income limit but must be credit-worthy.
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