KeystoneBEST is Pennsylvania’s low-cost student loan for parents.
Eligibility
Special KeystoneBEST requirements:
- Be a Pennsylvania resident with a child attending any accredited school, or
- Be an out-of-state resident with a child attending any accredited school in Pennsylvania.
You also must meet general Parent PLUS loan eligibility requirements.
Features & Terms
Who Pays |
- The parent repays the loan.
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Interest Rates |
- The current fixed rate is 8.5% for loans paid out on/after July 1, 2006, and is adjusted each July 1st.
- Your lender may offer additional interest rate reductions. Be sure to ask.
- Will never exceed 9.0%.
- Interest payments can be tax deductible.
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Fees |
- Origination fees will not exceed 3%.
- PHEAA will pay the 1% federal default fee on behalf of lenders who participate in the KeystoneBEST loan program.
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Annual Loan Limits |
- Borrow the difference between your child’s cost of attendance and financial aid award - up to 100% of total costs.
- Use loan funds for all associated costs – including tuition, room and board, books, transportation, computer, etc.
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Rebates |
- Select lenders may offer additional rebates.
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Repayment |
- Repayment begins within 60 days after the school receives the loan funds.
- 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
 (AES). PHEAA's public service mission is powered by AES, our national commercial business enterprise.
- KeystoneBEST loans in repayment are eligible for loan consolidation.
- Manage your AES-serviced loans online any time.
- Get one billing statement for all AES-serviced loans.
- We are with you every step of the way. Contact us.
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Apply for this Loan
- No income requirements
- Poor credit? May still qualify with credit-ready endorser
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