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.
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 two possible loan terms to choose from: 10 or 15 years, but note that students who are enrolled less than half-time are only eligible for the 10-year repayment term.
PA Forward - Private Student Loan Details
- Credit Check: Hard
- Repayment Terms: 10 years, 15 years
- Minimum Borrowing Limit: $1,500
- Yearly Borrowing Limit: 100% of Cost of Attendance
- Aggregate Borrowing Limit: $100,000
- Application Fee: None
- Origination Fee: None
- Prepayment Penalty: None
- Late Fee: None
- Minimum Credit Score: 680
- Immediate Principal and Interest Repayment: Yes
- Fixed Monthly Repayment: Yes, $25
- Length of Grace Period: 6 months
- Cosigner Release Option: Yes, after 48 months on-time payments
- Death Discharge: Yes
- Disability Discharge: Yes
- Financial Literacy Training: Yes