KeystoneBEST

KeystoneBEST offers Pennsylvania borrowers a choice as a result of the partnership between PHEAA and its participating lenders.

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Eligibility

Special KeystoneBEST Stafford loan requirements:

You also must complete the FAFSA (Free Application for Federal Student Aid) and meet general Stafford loan eligibility requirements.

Features & Terms

Who Pays
  • The student repays the loan.
  • No payments are required while you attend school at least half-time.

Interest Rates
  • All federal Stafford loans disbursed on/after July 1, 2008, and before July 1, 2009, will be fixed at 6.8% with the exception of the undergraduate subsidized Stafford which will be fixed at 6%.

Interest Payments
  • Subsidized loans - the federal government pays the interest while you are in school, during your grace period or during any deferment period.
  • Unsubsidized loans - you are responsible for interest payments and can choose to pay them while in school or have them added to the principal balance.

Fees
  • PHEAA will pay the 1% federal default fee on behalf of lenders who participate in the KeystoneBEST loan program.
  • Origination fees will not exceed 1%. Participating lenders may offer a reduction in the origination fees. View the 2008-09 participating lender list.

Grace Period
  • A 6-month grace period begins when you leave school, graduate or drop below half-time enrollment.

Repayment
  • Take 10 years to pay - longer with flexible repayment options.
  • No penalties for paying your loan off early.

Loan Management
  • Once your loan(s) enter repayment, receive single-point customer service from American Education Services Exterior Link (AES). PHEAA's public service mission is powered by AES, our national commercial business enterprise.
  • Stafford loans in repayment or in a grace period are eligible for loan consolidation.
  • Manage your AES-serviced loans online any time.
  • Get single-statement billing for multiple loans.
  • We are with you every step of the way. Contact us.

Annual Loan Limits

Annual Loan Limits Subsidized and/or Unsubsidized Loan Additional Unsubsidized Eligibility For Independent Students*
1st Year Undergraduate $3,500 $4,000
2nd Year Undergraduate $4,500 $4,000
3rd, 4th or 5th Year Undergraduate $5,500 $5,000
Graduate or Professional Student $8,500 $12,000

*Or dependent students whose parents are denied a federal Parent PLUS Loan.

These annual loan limits apply to loans disbursed on/after July 1, 2007.

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