Deadline Extended for Armed Forces Loan Forgiveness

HARRISBURG – The deadline to apply for the Armed Forces Loan Forgiveness Program has been extended to give more soldiers the chance to sign up for financial relief, according to Senator James J. Rhoades (R-29).

Through the Armed Forces Loan Forgiveness Program, the Pennsylvania Higher Education Assistance Agency (PHEAA) has helped ease the financial burden of more than 7,500 military personnel. It is estimated that PHEAA has provided $17.5 million in relief since launching the initiative in 2003.

"Our fighting men and women have earned this benefit through their dedicated service to our nation, and I strongly urge them to apply for this loan forgiveness," Rhoades said.

To be eligible, the borrower must hold one of four connections to Pennsylvania:

1. Currently a resident of Pennsylvania;

2. Any Pennsylvania resident who was living in Pennsylvania at the time of enlistment and was in the military continuously through at least September 11, 2001, regardless of current place of residence;

3. A nonresident who left a Pennsylvania school due to a call to active duty; or

4. Any non-resident who attended a PA-approved institution of postsecondary education, who went directly from this postsecondary enrollment into the Armed Forces of the United States, and was in the military continuously through at least September 11, 2001, regardless of current place of residence.

PHEAA does not rely on taxpayer dollars to provide this financial relief program. Funds are derived from excess revenues PHEAA generates from its business operations outside of Pennsylvania. As a public corporation, PHEAA generates roughly $200 million annually in public service benefits to Pennsylvania families.

Applications and more information regarding the Armed Forces Loan Forgiveness Program are available at www.pheaa.org or www.aesSuccess.org. Applications can also be requested by calling PHEAA's toll-free Customer Service number at 1-800-233-0557.