PA Forward Graduate Student Loan Review
Graduate Student Loan
PA Forward Graduate Student Loans are a good option for students who are Pennsylvania residents or residents of surrounding states who are attending a PA school. There are no fees and PA Forward offers both an autopay and graduation interest rate discount.
- No application, origination, or late fees
- Offers cosigner release
- Residency restrictions
How does this loan compare?
PA Forward Graduate Student Loans are available only for PA residents attending a Title IV school, or residents of neighboring states who are attending a PA institutions. PA Forward student loans are offered by the Pennsylvania Higher Education Assistance Agency. Borrowers who meet the residency and credit qualifications will have a fixed interest rate that has a lower cap than most private lenders we review. Moreover, borrowers enrolled in autopay enjoy a 0.25% interest rate reduction, and a 0.50% rate reduction upon graduation.
Borrowers who apply with a cosigner can release the cosigner from responsibility after 48 months of consecutive on-time payments. PA Forward offers four different repayment plans for students in school depending on their needs. There are three possible loan terms to choose from: 5, 10 or 15 years.
PA Forward - Private Student Loan Details
- Credit Check: Hard
- Repayment Terms: 5, 10, 15 years
- Minimum Borrowing Limit: $1,500
- Yearly Borrowing Limit: 100% of Cost of Attendance
- Aggregate Borrowing Limit: $300,000
- Application Fee: None
- Origination Fee: None
- Prepayment Penalty: None
- Late Fee: None
- Minimum Credit Score: 670
- Immediate Principal and Interest Repayment: Yes
- Fixed Monthly Repayment: Yes, $25
- Interest-Only Repayment: Yes
- Full Deferment: Yes
- Length of Grace Period: 6 months
- Cosigner Release Option: Yes, after 48 months on-time principal and interest payments
- Death Discharge: Yes
- Disability Discharge: Yes
- US-Based Call Center: Yes
- Hours of Operation (in addition to weekdays): No Evenings or Weekends
- Financial Literacy Training: Yes