For Immediate Release
June 28, 2007
Contact:  Carol Maravic
Ph: 717-787-6725
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LOAN FORGIVENESS PROGRAM FOR SOLDIERS EXTENDED

More Than $17 Million Forgiven for Our Servicemen and Women

HARRISBURG - Thanks to a recently extended deadline, Pennsylvania's soldiers may be eligible to receive financial relief on higher education loans through the Armed Forces Loan Forgiveness Program, according to Senator Jane Earll (R-Erie).

PHEAA said the state is able to offer some much needed financial relief to our soldiers through an initiative launched by the Pennsylvania Higher Education Assistance Agency (PHEAA), which is a national leader in helping students and families gain access to an affordable higher education.

Through the Armed Forces Loan Forgiveness Program, 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.

"We owe our military a debt of gratitude that can never be repaid, but I am glad that PHEAA can provide this help for our service men and women," said Senator Earll. "We're thankful that we can at least ease the financial burden of higher education loans that are confronting these families."

The borrower must hold one of four connections to Pennsylvania:

(1) Currently a resident of Pennsylvania;
(2) A nonresident who left a Pennsylvania school due to a call to active duty;
(3) 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, 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.