Armed Forces Loan Forgiveness Program Extended, Says Cox
10/1/2007
The Pennsylvania Higher Education Assistance Agency has extended the Armed Forces Loan Forgiveness Program to provide a one-time loan forgiveness benefit to servicemen and servicewomen, said Rep. Jim Cox (R-Berks).
 
The Armed Forces Loan Forgiveness Program was created to recognize the bravery, dedication, and loyalty of servicemen and servicewomen who served in the aftermath of Sept. 11, 2001. This program has since been extended seven times.
 
The program provides a one-time loan forgiveness benefit of up to $2,500 for student borrowers who served in the Armed Forces in an active duty status between Sept. 11, 2001, and Dec. 31, 2007. Applicants must have an eligible, non-defaulted loan such as a PHEAA Guaranteed Loan, an AES Stafford, Consolidation, PLUS, or SLS loan. These loans must be disbursed on or before Dec. 31, 2007.
 
Eligible applicants must meet one of three following criteria: 
  • A current resident or a state resident who was living in Pennsylvania at the time of enlistment and was in the military continuously through at least Sept. 11, 2001, regardless of current residence.
  • A non-resident of Pennsylvania who left a Pennsylvania-approved institution of post-secondary education due to a call to active duty.
  • A non-resident of Pennsylvania who enlisted in the military immediately after attending a Pennsylvania-approved institution of post-secondary education.  
Applications for the Armed Forces Loan Forgiveness program can be downloaded online at Cox’s Web site. If a borrower is overseas and cannot complete the application, a signature by the Power of Attorney will be accepted with supporting documentation. Applications must be completed and returned to PHEAA by Dec. 31, 2007.
 
More information, including applications for the Armed Forces Loan Forgiveness Program, is available by contacting Cox’s office toll-free at or by visiting his Web site at www.RepJimCox.com.
 
Rep. Jim Cox
129th District
Pennsylvania House of Representatives
(610) 670-0139
(717) 772-2435
Contact: Joe Pistorio
jpistori@pahousegop.com
(717) 787-2932
Member Site: RepJimCox.com
Caucus Site: PAHouseGOP.com