KITCHEN: ARMED FORCES LOAN FORGIVENESS PROGRAM EXTENDED

            PHILADELPHIA, June 25 – The Armed Forces Loan Forgiveness Program has once again been extended, according to state Sen. Shirley Kitchen.

            “Our dedicated servicemen and women have sacrificed so much to defend our nation,” Kitchen said. “This extension will greatly benefit those men and women who postponed their education, and so I urge them to apply for this beneficial program.” 

            The loan forgiveness program, administered by the Pennsylvania Higher Education Assistance Agency (PHEAA), provides up to $2,500 in a one-time loan forgiveness payment for student borrowers who served in the Armed Services in an active duty status between Sept. 11, 2001 and Dec. 31, 2007, provided they have an eligible loan and meet eligibility requirements.

            Eligible loans include PHEAA-guaranteed, AES-owned and/or AES-services Stafford, Consolidation, PLUS and SLS loans that were disbursed on or before Dec. 31, 2007. The loan cannot be in default.

            The Armed Forces Loan Forgiveness Program was introduced in 2003 to recognize the bravery, dedication and loyalty of our servicemen and women who served in the aftermath of the September 11^th attacks on our nation.

            Since its inception, nearly 7,500 student loans worth nearly $17.5 million have been forgiven.