PA Forward Parent Loan Review
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.
How does this loan compare?
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: 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: $150,000
- Application Fee: None
- Origination Fee: None
- Prepayment Penalty: None
- Late Fee: None
- Minimum Credit Score: 680
- Minimum Annual Income: None
- Approved Schools Include: Title IV
- Immediate Principal and Interest Repayment: Yes
- Fixed Monthly Repayment: None
- Interest-Only Repayment: Yes
- Full Deferment: None
- Length of Grace Period: None
- Maximum Forbearance Period: 12 months
- Cosigner Release Option: None
- Death Discharge: Yes
- Disability Discharge: Yes
- US-Based Call Center: Yes
- Application Timeline: Not specified by lender
- Sponsors a Scholarship: None
- Job and Career Assistance: None
- Financial Literacy Training: Yes