Pennsylvania Higher Education Assistance Agency
Encyclopedia
Created in 1963 by the Pennsylvania General Assembly, the Pennsylvania Higher Education Assistance Agency (PHEAA) has evolved into one of the nation's leading student aid organizations. Today, PHEAA is a national provider of student financial aid services, serving millions of students and thousands of schools through its loan guaranty, loan servicing, financial aid processing, outreach, and other student aid programs.
PHEAA's earnings are used to support its public service mission and to pay its operating costs, including administration of the Pennsylvania State Grant and other state-funded student aid programs. PHEAA continues to devote its energy, resources, and imagination to developing innovative ways to ease the financial burden of higher education for students, families, schools, and taxpayers.
PHEAA conducts its student loan servicing activities nationally as American Education Services (AES) and FedLoan Servicing.
AES was created to guarantee and service a variety of Federal Family Education Loan Program (FFELP) and private (alternative) student loan products for lending partners throughout the nation. AES is a national leader in providing quality customer service to millions of student loan borrowers through its highly trained and experienced customer service representatives. For more information, visit www.aesSuccess.org.
Building on PHEAA's 45-plus years of student aid experience, FedLoan Servicing was established to support the U.S. Department of Education's ability to service student loans owned by the federal government. FedLoan Servicing is one of a limited number of organizations approved by the Department of Education to service these loans and is dedicated to supporting borrowers with easy and convenient ways to manage their student loans. For more information, visit www.MyFedLoan.org.
PHEAA’s earnings are used to support its public service mission and to pay its operating costs, including administration of the Pennsylvania State Grant and other state-funded student aid programs.
AES/PHEAA's board of directors is composed of members of the Pennsylvania General Assembly, the Secretary of Education, and gubernatorial appointees. The legislative members of the Board were successful in passing legislation that restructures the PHEAA Board of Directors, which was signed into law by the Governor on July 9, 2010. This legislation was based on a PHEAA Board resolution that called upon the General Assembly to replace legislative seats on the Board with new private-sector individuals who could provide additional leadership expertise in an increasingly complex financial environment. Specifically, the legislation reduces the number of lawmakers serving on the 20-member Board from 16 to 12. The four legislative seats will be replaced with private-sector professionals with experience in banking, investments and information technology; adding their expertise to the decisions that the Board makes on behalf of Pennsylvania students and families. The legislation also reduces the six-year Board term to four years.
PHEAA's earnings are used to support its public service mission and to pay its operating costs, including administration of the Pennsylvania State Grant and other state-funded student aid programs. PHEAA continues to devote its energy, resources, and imagination to developing innovative ways to ease the financial burden of higher education for students, families, schools, and taxpayers.
PHEAA conducts its student loan servicing activities nationally as American Education Services (AES) and FedLoan Servicing.
AES was created to guarantee and service a variety of Federal Family Education Loan Program (FFELP) and private (alternative) student loan products for lending partners throughout the nation. AES is a national leader in providing quality customer service to millions of student loan borrowers through its highly trained and experienced customer service representatives. For more information, visit www.aesSuccess.org.
Building on PHEAA's 45-plus years of student aid experience, FedLoan Servicing was established to support the U.S. Department of Education's ability to service student loans owned by the federal government. FedLoan Servicing is one of a limited number of organizations approved by the Department of Education to service these loans and is dedicated to supporting borrowers with easy and convenient ways to manage their student loans. For more information, visit www.MyFedLoan.org.
PHEAA’s earnings are used to support its public service mission and to pay its operating costs, including administration of the Pennsylvania State Grant and other state-funded student aid programs.
AES/PHEAA's board of directors is composed of members of the Pennsylvania General Assembly, the Secretary of Education, and gubernatorial appointees. The legislative members of the Board were successful in passing legislation that restructures the PHEAA Board of Directors, which was signed into law by the Governor on July 9, 2010. This legislation was based on a PHEAA Board resolution that called upon the General Assembly to replace legislative seats on the Board with new private-sector individuals who could provide additional leadership expertise in an increasingly complex financial environment. Specifically, the legislation reduces the number of lawmakers serving on the 20-member Board from 16 to 12. The four legislative seats will be replaced with private-sector professionals with experience in banking, investments and information technology; adding their expertise to the decisions that the Board makes on behalf of Pennsylvania students and families. The legislation also reduces the six-year Board term to four years.