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Updated: December 4, 2023
PA Forward Parent Loan Review
Parent Loan
Pricing disclosure
Fixed APR
i
x
While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
4.87% - 9.20%
Variable APR
i
x
While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
Not Available
Repayment Terms
5, 10, 15 years
Important Information
Rewards: Autopay discount (0.25%)
Eligibility: Must be a PA resident with a student attending any Title IV school or surrounding state resident attending a PA school
Overall Limits: $150,000 aggregate
The bottom line:
PA Forward Undergraduate Student Loans are a good option for parents who are Pennsylvania residents or residents of surrounding states whose students are attending a PA school. There are no fees and PA Forward offers an autopay discount.
Pros
- No application, origination, or late fees
- Autopay discount
Cons
- Residency restrictions
How does this loan compare?
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 |
 |
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|---|---|---|---|
| Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available. |
Fixed:
4.87% - 9.20%
Variable:
Not Available
|
Fixed:
6.75% - 7.00%
Variable:
Not Available
|
Fixed:
4.23% - 13.60%
Variable:
3.09% - 12.13%
|
| Loan repayment terms (Years) | 5, 10, 15 years | 10, 15 years | 5 years, 10 years, 15 years |
| Cosigner release? | None | None | Yes, after 24 months on-time principal and interest payments |
Full Review
PA Forward Parent Student Loans are available only for PA residents borrowing for attendance at 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.
Borrowers cannot apply with a cosigner. PA Forward offers four different repayment plans for students in school depending on their needs. There are two possible loan terms to choose from: 5, 10 or 15 years.
PA Forward - Private Student Loan Details
Interest Rates, Fees and Terms
- 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: $150,000
- Application Fee: None
- Origination Fee: None
- Prepayment Penalty: None
- Late Fee: None
Requirements to Qualify
- Minimum Credit Score: 670
- Minimum Annual Income: None
- Approved Schools Include: Title IV
Repayment Options
- Immediate Principal and Interest Repayment: Yes
- Fixed Monthly Repayment: None
- Interest-Only Repayment: Yes
- Full Deferment: None
Repayment Details
- Length of Grace Period: None
- Maximum Forbearance Period: 12 months
- Cosigner Release Option: None
- Death Discharge: Yes
- Disability Discharge: Yes
Customer Service
- US-Based Call Center: Yes
- Application Timeline: Not specified by lender
Extras
- Sponsors a Scholarship: None
- Job and Career Assistance: None
- Financial Literacy Training: Yes
Other Loans that PA Forward Offers:
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