SEN. WILLIAMS ANNOUCES AVAILABILTY OF KEYSTONEBEST STUDENT LOAN PROGRAM

HARRISBURG, March 18, 2002 – State Senator Constance H. Williams today announced that The Pennsylvania Higher Education Assistance Agency (PHEAA), in partnership with Pennsylvania’s lending community, has recently added new benefits to the KeystoneBEST student loan program. KeystoneBEST is now the nation’s most affordable Stafford student loan.

KeystoneBEST is available to Pennsylvania students with no up-front costs which will result in saving borrowers nearly $70 million annually.

"KeystoneBEST is especially unique because it combines immediate up-front savings with powerful long-term benefits during repayment," Williams (D-Montgomery/Delaware) said.

"This innovative program could save a typical KeystoneBEST borrower nearly $1,200 over the life of the loan allowing them to achieve their academic goals with the least possible financial burden."

To apply, applicants must complete a Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The participating lender, the school or PHEAA will then provide the applicant with the Stafford Loan promissory note which will then serve as the student loan application.

For more information on the KeystoneBEST student loan program, please visit PHEAA’s Website at www.pheaa.org or contact one of Senator Williams’ district offices at 610-992-9790 or 610-853-5433