About PHEAA
The Pennsylvania Higher Education Assistance Agency (PHEAA) has grown from a small student loan guarantor in 1964, with a guaranty volume of only 4,600 student loans to one of the largest, full-service financial aid organizations in the nation. Today, PHEAA manages more than $84.4 billion in total assets and serves millions of students and thousands of schools nationally through its state grant, guaranty, servicing, and financial aid processing systems.
Since 1964, PHEAA has devoted its energy, resources and imagination to creating affordable access to higher education for students and their families. The Agency continues to take a leadership role in developing innovative ways to ease the financial burdens of students and borrowers, while streamlining delivery systems for schools and lenders.
PHEAA's Keystone family of low-cost student loan programs is another innovation that has helped make higher education more affordable. The Keystone family of loans -- which includes Stafford, PLUS and private loan programs -- has not only helped lower the cost of student loan borrowing, but it has also increased efficiency, flexibility and lender choice within the financial aid community.
Beyond the disbursement of funds, PHEAA remains committed to eliminating financial risk for customers and ensuring that affordable funds remain readily accessible to all students. Extensive and highly successful default prevention initiatives have furthered this effort and have yielded the Agency the lowest default rate (1.62 percent) among all major guarantors.
Over the years, PHEAA has also established a reputation as a pioneer of new technology, as a result of their continuous efforts to increase efficiency and accuracy. The Agency saves schools more than $24 million in administrative costs through its advanced financial aid delivery products and services. PHEAA’s new OneLINKSM Loan Guaranty System is continuing that tradition by providing the most complete delivery solution available anywhere in the nation.
While these examples highlight just a few achievements, they all reflect how PHEAA has evolved to become more responsive to customers' needs, expanding and enhancing their programs and services. With the same innovative spirit, PHEAA will continue to build and grow, remaining a trusted partner and visionary force in the financial aid industry.