Facebook Pixel
Updated: October 13, 2023

PA Forward Refinance Loan Review

Refinance Loan

PA Forward logo
PA Forward
Fixed apr
4.86% - 10.18%
Variable apr
Not Available
Repayment terms
5, 7 or 10 (minumum $5,000 balance), 15 ($10,000 balance), or 20 years (minimum $20,000)

Rewards: Autopay discount (0.25%)

Eligibility: Any PA resident or resident of an approved state (DE, MD, NJ, NY, OH, VA, and WV) who is the borrower or co-signer for the student loans

Overall Limits: $300,000 aggregate 

The bottom line

PA Forward Refinance Student Loans are a good option for students who are Pennsylvania residents or residents of surrounding states who attended a PA school. PA Forward does charge late fees on refinanced loans, but not application, origination, or prepayment fees.

Pros
  • No application or origination fees
  • Autopay discount
Cons
  • Late fees (4% of amount past due or $5.00 whichever is less)
  • Residency restrictions

Full review

PA Forward Refinance Student Loans are available to any PA resident or resident of an approved state (DE, MD, NJ, NY, OH, VA, and WV) who is the borrower or co-signer for the student loans. 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. If you’re an existing PA Forward borrower, you can reduce your final interest rate by 0.35% when you choose to consolidate at least one undergrad, graduate, or parent PA Forward loan into a new PA Forward Refinance Loan.

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. Loan terms to choose from include 5, 7 or 10 years (minumum $5,000 balance), 15 years ($10,000 balance), or 20 years (minimum $20,000).

PA Forward - Refinance Loan

Check rates

Savingforcollege.com provides our readers with free access to objective information, articles and tools to help them make informed decisions about saving and paying for education. We are able to do this because we are compensated by our partners, including some private student lenders. Some, though not all, of the products featured here are offered by partners who may pay us a sales commission. Our partnerships do not influence our ratings or reviews, which are based on in-depth research and objective methodologies, though they may influence which products we write about and where those products appear on our site. Our opinions are our own.

Wondering how much that loan is going to cost you? Check out our free Loan Calculator

Input your loan terms and we’ll tell you how much you can expect to pay monthly and in total

Get started
Helping families save for college since 1999
Join our email list

The latest articles and tips to help parents stay on track with saving and paying for college, delivered to your inbox every week.

Frequently featured in:

Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.

20533 Biscayne Blvd Ste 4 #199 Miami, FL 33180-1501Phone: (585) 286-5426Copyright © 2025 Saving for College, LLC. All Rights Reserved