PRINTER'S NO. 1033
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE RESOLUTION
No.
178
Session of
2019
INTRODUCED BY FONTANA, JUNE 19, 2019
INTRODUCED AND ADOPTED, JUNE 19, 2019
A RESOLUTION
Recognizing PHEAA's new PA Forward Student Loan Program as a
cooperative effort utilizing Commonwealth resources for
students and families in Pennsylvania.
WHEREAS, Many students experience difficulty affording the
full cost of higher education attendance even after taking
advantage of available grant, scholarships, campus-based aid and
Federal loans; and
WHEREAS, The Pennsylvania Higher Education Assistance Agency
(PHEAA) encourages students to initially exhaust all eligibility
for Federal Pell Grants, Pennsylvania State grants, scholarships
and other forms of gift aid, in addition to Federal student
loans before borrowing; and
WHEREAS, PHEAA serves as the lender and servicer for the new
PA Forward Student Loan Program that offers a variety of
borrower-friendly loans for undergraduate and graduate students
as well as parent borrowers; and
WHEREAS, The new PA Forward Student Loan Program is made
possible with tax-exemption allocations provided by the
Pennsylvania Department of Community and Economic Development
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
and support from the State Treasury; and
WHEREAS, A unique leveraging of Commonwealth resources allows
PHEAA to provide the new PA Forward Student Loan Program at low
rates with superior borrower benefits and protections; and
WHEREAS, Borrowers may receive an interest rate reduction
upon successful graduation and for enrolling in an immediate
repayment through direct deposit; and
WHEREAS, Students also benefit from an available six-month
grace period after graduation before the first payment is due;
and
WHEREAS, The PA Forward Student Loan Program combines all of
a borrower's Federal and private loans into one convenient
monthly payment, which could help lower monthly payments and
reduce the amount the borrower will pay over the life of the
loan; therefore be it
RESOLVED, That the Senate recognize PHEAA'S new PA Forward
Student Loan Program as a cooperative effort utilizing
Commonwealth resources for students and families in
Pennsylvania.
20190SR0178PN1033 - 2 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19