FIA unveils PA Forward and Keystone loan programs for Pennsylvania students

On June 4, 2025, the Pennsylvania Higher Education Assistance Agency (PHEAA) held a meeting focused on student loan options available to residents. The discussion highlighted the agency's commitment to providing affordable loan programs through its PA Forward and Keystone initiatives, aimed at supporting students in Pennsylvania and neighboring states.

The PA Forward program is designed for Pennsylvania residents attending any school, while the Keystone program caters to students from bordering states studying in Pennsylvania or elsewhere. PHEAA representatives emphasized the importance of comparing loan options, noting that their average interest rate of 6.4% is significantly lower than the national average of 9% to 10% for private loans. This competitive rate, combined with the absence of fees, positions PHEAA as a potentially advantageous choice for borrowers.

The meeting also detailed the various loan types offered, including undergraduate and graduate loans, as well as options for parents and refinancing. The representatives clarified that while undergraduate loans often require a cosigner, graduate loans may not, depending on the borrower's credit history. They also pointed out that their graduate loan program is inclusive, allowing students in various fields, such as medicine and business, to access funding without restrictive conditions.

For those interested in exploring these loan options further, PHEAA encourages potential borrowers to visit their website at phia.org, where detailed information about the PA Forward and Keystone programs is readily available. The agency's focus on transparency and accessibility aims to empower students and families to make informed financial decisions regarding their education.

Overall, the meeting underscored PHEAA's role in facilitating educational access through affordable financing solutions, addressing the growing concerns surrounding student debt in Pennsylvania and beyond.