Jonestown Bank & Trust Co. (JBT) has announced that it has partnered with the Pennsylvania Higher Education Assistance Agency (PHEAA) to help their customers finance their higher education through the borrower-friendly PA Forward Student Loan Program.

The PA Forward Student Loan Program is a suite of loans for undergraduate and graduate students and parent borrowers. It is offered in addition to a PA Forward Refinance Loan that enables participating borrowers to combine all their federal and private loans into one monthly payment.

Through the program, JBT clients can borrow up to the total cost of attendance with competitive interest rates and a variety of upfront and repayment benefits.

The PA Forward Student Loan Program leverages the combined resources of the Commonwealth of Pennsylvania to provide loans at competitive rates with borrower benefits. PHEAA serves as the lender and loan servicer for the program, with tax-exempt allocation provided by the Department of Community and Economic Development (DCED).

The PA Forward Student Loan Program is designed specifically for students or parents/guardians of students who are enrolled or who plan to be enrolled in a degree, certificate or diploma granting program. For parent loans, the student must be enrolled at least half-time. Students enrolled for less than half-time also have borrowing options. These loans are meant for Pennsylvania residents attending an approved school in or out of Pennsylvania; students from an approved state, including Delaware, Maryland, New Jersey, New York, Ohio, Virginia and West Virginia attending an approved Pennsylvania school; U.S. citizens or eligible noncitizens of the U.S.; and borrowers and/or co-signers who meet the minimum credit requirements.

The PA Forward Student Loan Program includes four student loan products: a PA Forward Undergraduate Loan for students seeking an undergraduate degree, certificate or diploma; a PA Forward Graduate Loan for students seeking an advanced degree such as master's, doctoral, law or health profession; a PA Forward Parent Loan for parents or guardians of dependent undergraduate students seeking an undergraduate degree, certificate or diploma; and a PA Forward Refinance Loan for borrowers in repayment seeking a more streamlined way to manage their debt by combining all their federal and private student loans into a single monthly payment under new terms and conditions.

The program offers competitive fixed interest rates and borrower benefits for undergraduate and graduate loan borrowers, including a .50% interest rate reduction for achieving successful graduation. Additional benefits for all borrowers include no application or origination fees, a .25% interest rate reduction for enrolling in Direct Debit, flexible repayment options and biweekly payment options that can pay off a loan sooner, saving borrowers even more money in interest.

PHEAA's earnings from the PA Forward Student Loan Program are used to support the agency's public service mission for Pennsylvania students and families. For more information, visit http://www.jbt.bank or contact Jennifer Crain at 717-450-1222.