August 2, 2007
Contact:
 Anna Gustafson
717-787-2637
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Senate Update
by
Senator James J. Rhoades

The Armed Forces Loan Forgiveness Program was launched by the Pennsylvania Higher Education Assistance Agency in 2003 to recognize the bravery, dedication, and loyalty of our servicemen and women who served our nation in the aftermath of the September 11 terrorist attacks. The program has helped to ease the financial burden of more than 7,500 military personnel, providing $17.5 million to our soldiers since it was launched.

The Armed Forces Loan Forgiveness program provides a one-time loan forgiveness benefit of up to $2,500 for student borrowers who served in the Armed Forces in active duty between September 11, 2001, and December 31, 2007. Borrowers must have an eligible loan and meet eligibility requirements.

Eligible loans include PHEAA guaranteed, AES owned and/or AES serviced Stafford, Consolidation, PLUS, SLS, HEAL and Keystone EXTRA loans that are disbursed on or before December 31, 2007.

To be eligible for the program, a student borrower is required to hold one of four connections to Pennsylvania:

(1) Currently a resident of Pennsylvania.
(2) A non-resident who left a Pennsylvania school due to a call to active duty.
(3) A non-resident of Pennsylvania who was living in Pennsylvania at the time of enlistment.
(4) A non-resident of Pennsylvania who enlisted in the military immediately after attending a Pennsylvania approved institution of post-secondary education.

Our fighting men and women have earned a place of honor for their devoted service in protecting our freedom. If you or a loved one may be eligible for this program and would like more information, please feel free to contact my district offices to learn more about this valuable program.

More information on the Armed Forces Loan Forgiveness Program is also available by calling toll-free at 1-800-233-0557, ext 5473. Loan forgiveness counselors are available Monday-Friday 8:00 a.m.-5:00 p.m.

Senator Rhoades represents the 29th Senatorial District, which includes all of Schuylkill County and parts of Berks, Carbon, Lehigh, Monroe and Northampton Counties.