KeystoneBEST for Parents

KeystoneBEST is Pennsylvania's preferred Federal Family Education Loan Program (FFELP).

AES' Keystone Family of Educational Loans has been the cornerstone of student aid packages for millions of Pennsylvania students since 2001. Hundreds of lenders remain committed to this private-public partnership which provides affordable loans to students that may not be able to access funding otherwise. KeystoneBEST offers access, choice, and service.

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Eligibility

Special KeystoneBEST requirements:

  • Be a Pennsylvania resident with a child attending any accredited school or
  • Be an out-of-state resident with a child attending any accredited school in Pennsylvania.

You also must meet general Parent PLUS loan eligibility requirements.

Features & Terms

Who Pays
  • The parent repays the loan.

Interest Rates
  • The current fixed rate is 8.5% for loans paid out on/after July 1, 2006, and is adjusted each July 1st.
  • Your lender may offer additional interest rate reductions. Be sure to ask.
  • Will never exceed 9.0%.
  • Interest payments can be tax deductible.

Fees
  • Origination fees will not exceed 3%.
  • Federal default fee will not exceed 1%.

Annual Loan Limits
  • Borrow the difference between your child’s cost of attendance and financial aid award - up to 100% of total costs.
  • Use loan funds for all associated costs – including tuition, room and board, books, transportation, computer, etc.

Rebates
  • Select lenders may offer additional rebates.

Repayment
  • Repayment begins within 60 days after the school receives the loan funds.
  • Take 10 years to pay – longer with flexible repayment options.
  • Postponement of repayment may be available upon request while your dependent student is enrolled at least half-time.
  • No penalties for paying your loan off early.

Loan Management

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  • No income requirements
  • Poor credit? May still qualify with credit-ready endorser

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