Updated: December 4, 2023

PA Forward Undergraduate Student Loan Review

Undergraduate Student Loan

Pricing disclosure

Residency Restrictions

Undergraduate
Student Loan Rating
3.5 of 5
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 all available discounts.
4.84% - 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 all available discounts.
Not Available
Repayment Terms
5, 10, 15 years
Important Information

Rewards: Autopay discount (0.25%), graduation discount (0.50%)

Eligibility: Must be a PA resident 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 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. 

Pros

  • No application, origination, or late fees
  • Offers cosigner release

Cons

  • Residency restrictions
PA Forward Ascent Student Loans Earnest
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 all available discounts.
Fixed:
4.84% - 9.20%
Variable:
Not Available
Fixed:
3.69% - 14.41%
Variable:
5.50% - 14.56%
Fixed:
3.69% - 16.49%
Variable:
5.62% - 16.85%
Loan repayment terms (Years) 5, 10, 15 years 5, 7, 10, 12, 15 years 5, 7, 10, 12, 15 years
Cosigner release? Yes, after 48 months on-time principal and interest payments Yes, after 12 months on-time principal and interest payments None

PA Forward Undergraduate 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, but note that students who are enrolled less than half-time are only eligible for the 5 and 10-year repayment terms.

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: Yes, $25
  • Interest-Only Repayment: Yes
  • Full Deferment: Yes
Repayment Details
  • Length of Grace Period: 6 months
  • Maximum Forbearance Period: 12 months
  • Cosigner Release Option: Yes, after 48 months on-time principal and interest payments
  • Death Discharge: Yes
  • Disability Discharge: Yes
Customer Service
  • US-Based Call Center: Yes
  • Hours of Operation (in addition to weekdays): No Evenings or Weekends
Extras
  • Financial Literacy Training: Yes

Other Loans that PA Forward Offers:

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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.