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PA Forward Parent Loan Review
Parent Loan
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
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
Loan comparison
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 - Parent Loan
Other loans that PA Forward offers:
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