Armed Forces Loan Forgiveness Program
Short summary:
Were you a PA resident when you enlisted in the Military? YES or. NO. I understand that if I am approved for the Armed Forces Loan Forgiveness program that ...
Long summary:
Armed Forces Loan Forgiveness Program The Armed Forces Loan Forgiveness Program is funded by the Pennsylvania Higher Education Assistance Agency. This program will provide a one-time forgiveness benefit, up to $2,500, for eligible borrowers. To qualify for loan forgiveness under this Program the applicant must: • have served in the Armed Forces in an active duty status (not a two-week active duty assignment for training status) between September 11, 2001 and December 31, 2007. • hold one of four connections to Pennsylvania: (1) Currently a resident of Pennsylvania, (2) A non-resident of Pennsylvania who left a PA approved institution of postsecondary education due to a call to active duty, (3) A non-resident of Pennsylvania who was living in Pennsylvania at the time of enlistment, or (4) A non-resident of Pennsylvania who enlisted in the military immediately after attending a PA approved institution of postsecondary education. • have an eligible, non-defaulted loan(s): PHEAA guaranteed, AES owned and/or AES serviced Stafford, Consolidation, PLUS, and SLS loans that are disbursed on or before December 31, 2007. Eligible loans also include HEAL and Keystone EXTRA loans that are disbursed on or before December 31, 2007. The loan(s) cannot be in default. After reviewing the above eligibility information, if you believe you qualify, please return the completed application by June 30, 2008 to the following address: PHEAA Armed Forces Loan Forgiveness Program AES Loan Forgiveness Group PO Box 2461 Harrisburg, PA 17105-2461 If your application is approved, please keep in mind that loan forgiveness award payments will be applied to reduce your principal balance only and will not satisfy interest or scheduled monthly installment amount(s). You will still be responsible to remit monthly payments in accordance with your repayment obligation. AES/PHEAA is obligated to issue a form 1099-C to the I.R.S. and the student borrower reporting all forgiveness of inde ...
Source: www.aessuccess.org
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