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Nonprofit lender explains private student loans, expands PA Forward and Keystone outreach to border states
Summary
On the Higher Education Access Corner podcast, host Tiffany DeVan and Dr. Kim McCurry of the Pennsylvania Higher Education Assistance Agency (PHEAA) discussed when private (alternative) student loans are used, repayment trade-offs, and PHEAA's PA Forward and Keystone products and outreach resources for Pennsylvania and neighboring states.
On the Higher Education Access Corner podcast, host Tiffany DeVan and Dr. Kim McCurry, an account executive at the Pennsylvania Higher Education Assistance Agency (PHEAA), discussed private (alternative) student loans and how families should evaluate them when federal, state and institutional aid do not fully cover college costs.
"Alternative or private education loans are just one of the ways," Dr. McCurry said, explaining that families should exhaust grants, scholarships and federal student loans before considering private borrowing. She urged students and families to begin researching private options well before bills are due, noting that credit approvals for private loans typically last about 180 days.
Why it matters: Private loans can fill gaps on college bills but carry costs that affect household budgets and future borrowing. McCurry emphasized that families should consider…
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