TWO PHEAA PROGRAMS TO ASSIST WITH HIGHER ED. COSTS
Harrisburg, Dec. 1, 2003 – State Sen. Connie Williams is pleased to announce two additional programs are available to help students finance their higher education.
The Pennsylvania Higher Education Assistance Agency Academic Scholarship Award Program offers scholarships to State Grant recipients eligible for the Robert C. Byrd Honors Scholarship Program, but who do not receive funding from the Byrd Program.
The Quality Early Education Loan Forgiveness Program offers loan forgiveness equal to one-sixth of the qualifying loan debt annually, based on outstanding principal to child-care workers who qualify.
“These programs provide financial assistance to help students achieve their career goals,” Williams said. “I encourage students to look into the programs to see if they qualify. Even if they don’t qualify for either of these programs, they may qualify for other financial aid assistance in the form of grants or loans.”
The Academic Scholarship Award Program will provide scholarships to incoming freshmen attending Pennsylvania post-secondary schools in Fall 2004 and Fall 2005, who have qualified to receive State Grants and who meet all academic requirements for the Byrd Program, but do not receive a Byrd award for that academic year.
More than two-thirds of new qualifying Byrd applicants who receive a State Grant do not receive Byrd awards because of insufficient funding of the federal program. The new PHEAA program will provide the equivalent of the Byrd Scholarship ($1,500) for the first year of college, with funding for additional years if the student continues to meet the program requirements.
Qualified Byrd Program applicants automatically will be considered for the PHEAA program; no additional application process will be required.
To qualify for the Quality Early Education loan forgiveness program, applicants must be a Pennsylvania resident and have a current outstanding balance on a federally insured Stafford loan that is guaranteed and serviced by AES/PHEAA and must have earned a bachelor’s degree and Pennsylvania Early Childhood Certificate or an associate’s degree in Early Childhood Education or Child Development during the 2003-04 academic year.
Additionally, qualified applicants must have a gross income of no more than $23,000 from employment in a Pennsylvania Department of Welfare-approved day care or group child day care home. Applicants can’t be in default on any federally guaranteed student loan and must be employed full time in a DPW-approved day care center or group child day care home within six months of entering the Stafford loan grace period with respect to the loans to be forgiven.
Under the program, PHEAA will forgive up to a maximum of $3,300 per year for up to three years for those who qualify.
For more information about the programs, constituents may call either of Williams’ offices at (610) 992-9790 or (610) 853-5433, or visit PHEAA’s Web site at www.pheaa.org.