PA Forward Parent Loan
A Parent Loan through PHEAA’s PA Forward Student Loan Program is a loan designed specifically for parents or guardians of dependent undergraduate students enrolled or who plan to be enrolled at least half-time in a degree, certificate, or diploma granting program. This loan is meant for parents or guardians of students who are Pennsylvania residents attending an approved school in or out of state, or students from an approved state (DE, MD, NJ, NY, OH, VA, and WV) attending an approved PA school.
Key Features Arrow pointing Down
- No fees
- Low fixed interest rates
- Multiple repayment options
- Interest rate reduction for Direct Debit
Product Details Arrow pointing Down
Through the PA Forward Student Loan Program, the Pennsylvania Higher Education Assistance Agency (PHEAA) offers private student loan options to enable Pennsylvania students to pursue their higher education dreams and to make managing their loans easier and more convenient. You can even borrow up to 100% of the certified cost of attendance (tuition, fees, room & board, books, etc.) up to the aggregate limit of $150,000.
Eligibility Arrow pointing Down
The PA Forward Parent Loan is designed specifically for parents or guardians of students who are enrolled or who plan to be enrolled in a degree, certificate, or diploma granting program. For Parent Loans, the student must be enrolled half-time. These loans are meant for parents or guardians of:
- PA residents attending an approved school in or out of 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 U.S.
- Borrowers and/or co-signers who meet the minimum credit requirements
Before You Apply Arrow pointing Down
Qualifying for a PA Forward Parent Loan
PHEAA uses credit score, employment history, monthly debt payments, and income among other factors when considering whether or not to approve your application.
The Borrowing Process
Our objective is to make the borrowing process simple and straightforward. To apply for a PA Forward Parent Loan, you will want to have the following information available when you apply online:
- Name, address, and telephone number
- Date of birth and Social Security Number
- Email address
- Name and location of school your student attends or plans to attend
- Annual income
- Grade level and anticipated graduation date of the student
- Academic period for which you would like to receive the loan
- Co-signer’s name and email address (if applicable)
- Mobile phone to receive one-time passcode for electronic signature