Low Interest Rates

With our competitive, fixed interest rates, you never need to worry about your interest rate going up!

PA Forward Student Loan Refinance

Refinancing allows you to combine one or more existing student loans into a single new loan with one monthly payment which can help you navigate successful student loan repayment much more conveniently.

*Your payment could increase depending on the selected repayment term.
**Interest rate depends on credit score and other factors.
***You could pay more interest over the life of the loan with a longer loan term.

Loan Information

Helping you make managing your student loans as easy as possible is exactly why the PA Forward Refinance Loan was created.

• Borrow up to $300,000 (including capitalized interest)
• Minimum loan amount: $5,0002
• No pre-payment penalty
• No origination or application fees

Loan Eligibility

The PA Forward Refinance Loan is a loan designed specifically for those who are in repayment and want assistance with managing their student debt. This loan is meant for:

• Any PA resident or resident of an approved state (DE, MD, NJ, NY, OH, VA, and WV) who is the borrower or co-signer for the student loans
• Borrowers who are currently in repayment
• U.S. citizens or eligible non-citizens of the U.S.
• Borrowers and/or co-signers who meet the minimum credit requirements

Immediate Repayment Plan

Payments and Terms

• The minimum monthly payment for a PA Forward Refinance Loan is $50.00/month.
• You have the option to choose between five loan terms based on your balance to make repayment fit your needs.

Loan Term and Minimum Loan Amount

NOTE: The longer your term the more interest you could pay over the life of the loan.

Co-signer Information

Co-signer Release

The PA Forward Student Loan Program allows for co-signers to be released from their responsibilities after meeting certain requirements.

Co-signer release requirements include:

• Making 48 consecutive on-time payments of principal and interest while in repayment, excluding deferment and forbearance time.
• Payments are considered on-time if they are received no later than 15 days after the due date.
• A lump sum payment counts as one qualifying payment.
  
  NOTE: Due to the Coronavirus (COVID-19) pandemic, all payments due between 3/13/2020 and 9/30/2020 count as a qualifying payment for the purposes of co-signer release, regardless of if the payment was made.
• Upon completion of making 48 consecutive on-time payments, the borrower must provide proof of income, as well as pass a debt-to-income calculation and credit check.
• Must be in repayment making your full billed monthly payment amount.
• The use of any deferment or forbearance will not count towards the co-signer release payment counter. The payment counter will resume once the deferment or forbearance ends.

If you would like to apply for this benefit or have questions, please contact the servicer of the loan, American Education Services (AES) at 1-800-233-0557 Monday to Friday, 7:30 AM to 9:00 PM (ET).

NOTE: Both the borrower and any co-signer remain responsible for the student loan account until the co-signer release request is approved, if applicable.

Once the co-signer is released, they will no longer be held responsible for the repayment of loan. This responsibility will remain solely with the original borrower of the loan.

Save Time and Money with Direct Debit

Direct Debit is a free service that sets up an electronic deduction from your checking or savings account each month. You will qualify for a 0.25% interest rate reduction upon Direct Debit approval.

Biweekly Payments

Making biweekly payments can help you pay off your student loans faster, while saving you money! By paying half of your monthly payment every 2 weeks, you end up making an extra payment every year. Check out the example below detailing the time and money you could save by making biweekly payments while being enrolled in Direct Debit.