FUN Bank Partners with PHEAA for Student education loans :: exploreClarion.com
CLARION CO., Pennsylvania (EYT) – FUN Bank has partnered with the Pennsylvania Advanced schooling Assistance Agency (PHEAA) to assist customers finance their advanced schooling through the borrower-friendly PA Forward Student Loan Program.
The PA Forward Student Loan Program is a suite of trusted loans for undergraduate and graduate students and parent borrowers, plus a PA Forward Refinance mortgage that allows participating borrowers to combine all of their federal loans and private in one convenient payment per month.
Through this program, FUN Bank customers can borrow up to the entire price of participation with competitive interest rates along with a variety of upfront and repayment benefits.
The PA Forward Education loan Program leverages the combined resources from the Commonwealth of Pennsylvania to provide loans at reduced rates with better benefits for borrowers than most commercial private home loan programs. PHEAA serves as the lending company and loan agent for that program, with a tax-exempt allowance supplied by the Department of Community and Economic Development (DCED).
The PA Forward Education loan Program is designed specifically for students or parents/guardians of students enrolled or likely to sign up for a degree, certificate or diploma program. For parent loans, a student should be enrolled half-time. These loans are meant for:
- PA residents attending an approved school inside or outside the PA
- Students from an approved state (DE, MD, NJ, NY, OH, VA, and WV) attending an approved PA school
- U.S. citizens or eligible non-citizens of the United States
- Borrowers and/or co-signers who meet minimum credit requirements
The PA Forward Student Loan Program includes four student loan products:
- PA Forward Undergraduate Loan for students seeking a diploma, certificate or undergraduate degree
- PA Forward Graduate Loan for students seeking a higher degree such as masters, doctorate, law, health profession
- PA Forward Parent Loan for parents or guardians of dependent undergraduate students seeking an undergraduate degree, certificate or degree
- PA Term Refinance Loan for borrowers in repayment looking for the best easier method to manage their debt by combining all their federal and private student loans into one monthly payment under new conditions and terms
The program offers competitive fixed interest rates and benefits for undergraduate and graduate borrowers, including a 0.50% interest rate reduction for successful graduation. Additional benefits for all borrowers include no set-up or set-up fees, 0.25% rate of interest reduction for direct debit sign-up, flexible repayment options, and all-in-one payment options. the two weeks that can repay a loan sooner, saving borrowers even more money in interest.
PHEAA's earnings in the PA Forward Education loan Program are used to support the agency's public service mission for Pennsylvania Students and Families.
For more information, go to the FUN Bank website https://www.fun-bank.com/student-loans.html.