Pennsylvania State Student Aid

7 min read

The Penn State Student Loan Program is administered by theDepartment of Education Department of Education and provides loans, grants,grants, and other financial assistance to eligible undergraduate students at public and private colleges and universities throughout Pennsylvania. Loans may be repaid over a period of time ranging from six months to ten years,years, depending on the loan program selected by the student borrower. A repayment plan is established at the time of application and is based upon individual circumstances. Students may borrow up to $10,000 per academic year (fall or springfall or spring).

The FederalThe Federal Stafford Loan Program

TheFederal Stafford Loan Program Federal Stafford Loan Program is a federal program funded by the U.S. Department of Education that provides that provides low-interest subsidized student loans for qualified borrowers. Eligible undergraduateundergraduate and graduate students who have been accepted into programs leading to a bachelor’s degree or higher level diploma may receive direct loans from theU.S. Department U.S. Department of Education and its designated lending agency, the United States Department of Agriculture. Loans may be applied for at any time between the date of acceptance into a college or university program and the graduation date of the student. Borrowers should complete the Free Application for Federal Student Aid (FAFSA) before submitting their loan request.

Program for Pell GrantsProgram for Pell Grants

ThePennsylvania Public Service Commission Pennsylvania Public Service Commission (PSC) administers theNational Grant and Landolt Scholarship Act National Grant and Landolt Scholarship Act (Pell Grants), which was designed to assist needy individuals pursue postsecondary education. The Act authorizes funds to be awarded to eligible students enrolled in institutions of higher education in the Commonwealth of Pennsylvania regardless of race, color, religion, national origin, sex, age, veteran status,status, or disability. Applications should be submitted annually beginning January 1st to the PSC’s Office of Post Secondary Admissions and Assistance. Please visit www.psc.state.pa.us for additional information.

Loan Guarantee ProgramsLoan Guarantee Programs

These programs offer private lenders guaranteed returns for student loans. Private lenders enter into contract agreements with the U.S. Treasury guaranteeing the repayment of certain amounts of loans. In exchange, these lenders receive the same amount of money upfront plus interest. Under this arrangement, the lender receives back their principal investment plus a profit margin. If a borrower defaults on his or her loan, the lender may demand full repayment of the guaranteed loan. Interest rates for these loans range from 0% to 6%. The maximum amount of a single borrower’s guaranteed loan can never exceed $75,000.

An AlternativeAn Alternative Repayment Plan

This is a special payment option offered by some lenders. Unlike traditional fixed payments, alternative repayment plans allow borrowers to set up flexible monthly payments that fit their budget. These plans are ideal if the borrower anticipates changes in income or expenses after enrolling in school and would prefer not to lock themselves into a rigid payment schedule.

A RefundableA Refundable Loan Program

Under this government-sponsored program, eligible students can use the proceeds of federally-subsidized educational loans to pay for tuition, fees, books, supplies and equipment, room and board, and other necessary costs associated with attending school. After meeting eligibility requirements, including having no outstanding balance on prior loans, the unused portion of the loan amount can be refunded. This loan does not need to be paid back.

Pay As You Earn SchemePay As You Earn Scheme

This is a scholarship program where borrowers make payments directly to their schools in accordance with how much they are earning. There are two types of PAY AS YOU EARN (PAYE) scholarships: Direct Subsidies  and Indirect Subsidies. Both require applicants to submit documentation of financial need. Direct subsidies are awarded solely on the basis of demonstrated financial need; indirectindirect subsidies take into account both financial need and merit factors.

Pennsylvania State Student Aid.Aid.

Pennsylvania State Student Aid (PSSA)

As of 2016, Pennsylvania state students receive financial aid in the form of grants and scholarships. Most schools offer some sort of assistance to their students. However. However, not all scholarship programs are equal when it comes to eligibility requirements. There are several different types of awards offered to students at Penn State,State, including merit-based awards, need-based awards, and tuition waivers. Students who do not qualify for any type of award may still be eligible for a grant or work study program depending on the school they attend. In order to apply for these funds, students should visit www.pssa.psu.org/apply/www.pssa.psu.org/apply/. Students need to complete thethe FAFSA before applying.

The National Association of Scholars

The National Association of Scholars (NAS) was founded in 1994 to promote academic freedom and excellence. NAS members have a commitment to free inquiry and open debate across academic disciplines. As a non-profit organization, the goal of the group is to encourage college-level education among American citizens. The association publishes a journal called Knowledge Quest.

The Foundation for Individual Rights in Education (FIRE)

“FIRE””FIRE” stands for Foundation for Individual Rights in Higher Education. Its mission is to defend individual rights at universities around the world. FIRE works to protect academic freedom, due process, the right to protest, and the freedom of conscience on college campuses. The foundation’s primary tactics in its defense involve litigation and legal advocacy.

The College Board Scholarship Search

The College Board provides funding for students to take SAT tests and ACT exams. Students who earn high scores on these standardized tests may qualify for scholarships based on their test results. To become eligible for a test refund, students must first register online via the College Board website. After registering, students can begin searching for scholarships.

The Thomas More Society

The ThomasThe Thomas More Society is a nonprofit organization dedicated to preserving and promoting the values of faith, family, freedom, and responsibility. Founded in 1989, the groupgroup has played a major role in defending religious liberties and fighting political extremism. Many of the society’s projects focus on higher education, specifically Catholic colleges and universities.

Pennsylvania State Student Aid.Aid.

The Pennsylvania State Student Aid (PSSA) program is designed to provide financial assistance to eligible students who attend school in Pennsylvania. To qualify for PSSA, Pennsylvanians need to meet certain requirements and file applications.

Requirements

To be eligible for the PSSA Program, applicants must meet both federal and state eligibility criteria. Federal eligibility includes being a U.S. citizen or permanent resident, having a Social Security number, residing in Pennsylvania, not being incarcerated, and having received no income tax refund over the last two years.Students must be enrolled full-time in any degree-seeking institution, have attended at least half-time (at least 12 credits per semester), and have maintained satisfactory academic progress throughout their enrollment. Students must be enrolled full-time in any degree-seeking institution, have attended at least half-time (at least 12 credits per semester), and have maintained satisfactory academic progress throughout their enrollment.

In order tobe eligible be eligible for PSSA, students must complete a FAFSA application. All students must do this before they begin attending college. If a student does not submit a completed FAFSA application in a timely manner, he/she will forfeit his/her right to receive PSSA funds. Students may apply directly to the Pennsylvania Higher Education Assistance Agency (PHEAA) online.

Application Deadlines

Students applying for the 2013-2014 award year must file a PSSA application by January 31st, 2014. Applications submitted after the deadline date will only be accepted if space permits.

How Much Do I Qualify forQualify for?

If you qualify for Pennsylvania State Student Aid, you will receive a letter informing you of your final PSSA award amount. Your award amount depends upon your family’s taxable adjusted gross income and whether you are considered to be an independent studentor a or a dependent student. Independent students are those who havegraduated from graduated from high school without receiving special education services or who were home educated. Dependent students are those who are younger than age 18, under 21, were raised by a single parent, were enrolled in high school while working full time, were placed in foster care, or were homeless. You should also know that the amount of PSSA awarded to eligible students varies according to the type of institution they are enrolled in. Most institutions offer three types of aid programs: traditional, enhanced, and maximum. Traditional aid offers basic financial need-basedneed-based grants. Enhanced aid provides additional aid based on merit. Maximum aid awards grant-in-aid, which is supplemental funding given towards a specific program, subject matter, or area of study.

PSSA Eligibility Requirements…Requirements…

When considering an applicant’s PSSA eligibility, PHEAA looks at four components: the total cost of attendance;; family resource income;; household size;; and institutional participation.

Total Attendance CostTotal Attendance Cost

For each individual student, PHEAA considers the current school year’s tuition rate, room and board, books, fees, transportation costs, supplies, personal clothing, and incidental expenses.  For each individual student, PHEAA considers the current school year’s tuition rate, room and board, books, fees, transportation costs, supplies, personal clothing, and incidental expenses.  These amounts are then added together to determine the total cost of attendance.This figure includes any state scholarships or grants that the student may be eligible for. This figure includes any state scholarships or grants that the student may be eligible for.

The Pennsylvania Higher Education Assistance Agency (PHEAA) is funded by the Commonwealth of Pennsylvania and provides financial assistance to qualifying students who want to attend postsecondary educational institutions in the state.

Pell Grant

Pell Grants are provided to low-income undergraduates who havenot yet not yet received their bachelor’s degree. Students must be enrolled at least half-timehalf-time to qualify.

Perkins Loan

Perkins Loans are given to graduate students who demonstrate exceptional need but cannot afford to pay out of pocket. These loans are renewable and may be extended if the program does not work out.

Work Experience ProgramWork Experience Program

Work study programs allow eligible students to earn money while attending school. There are two types:: guaranteed and non-guaranteed. Students interested in applying should contact thefinancial aid financial aid office at the college that they plan on attending for more information about each program.

►HEY, we’ve got more valuable information here: ►CLICK HERE LOANS FOR STUDENTS◄

►Cloud of related items ▼

►Loans For Students◄

 

bloque1x