 |
Youth Menu |
 |
Ages 0 to 13
Ages 14 to 22
|
 |
|
|
Education Loans |
|
 Riverfront
offers KeystoneBEST education loans to students, parents and graduate students
to make financing higher education more affordable. We do this through a
partnership with the Pennsylvania Higher Education Assistance Agency (PHEAA).
Whether you're a student, parent or graduate student, you can call AES/PHEAA
Loan Guaranty and Grant Services toll free at 800-692-7392 to request an
application or contact lending@riverfrontfcu.org for more information.
For Students (Lender Code 813381KB):
We offer the KeystoneBEST (Benefits Expanded for Student Tuition) loan program
which includes the following…
• Save 1.0% in origination fees which is underwritten by Riverfront.
• No default insurance fee. PHEAA pays the 1% fee.
• Flexibility of combined or separate billing for multiple loans.
• Single point of contact for customer service for the life of the loan.
Depending on the student’s financial need, the KeystoneBEST loan may be
subsidized or unsubsidized:
• Subsidized Federal Stafford Loan - The federal government pays the interest
while the student is in school. The student pays the interest during the time
they are repaying the loan.
• Unsubsidized Federal Stafford Loan - Students are responsible for the interest
from the date the loan is disbursed.
Before applying for a KeystoneBEST loan, borrowers should first complete the
Free Application for Federal Student Aid (FAFSA). This application is used to
determine eligibility for federal student loans. Once accepted, students may
file a loan application with Riverfront.
For Parents (Lender Code: 813381KB):
This program offers the following…
• 1% interest rate reduction immediately at first disbursement.
• Interest rates vary, but cannot exceed 9% annually.
• Interest payments may be tax deductible.
• Single-statement billing available.
• Access to account information 24 hours/day.
• Low 3% origination fee.
• Borrowers may be eligible for an extended repayment term of up to 25 years.
For Graduate Students (Lender Code: 813381KB):
We offer the GraduatePLUS program to graduate students attending approved
Pennsylvania schools or are Pennsylvania residents. The benefit structure for
this program is identical to the KeystoneBEST (see For Parents), except that it
is provided directly to graduate students. A credit check is required for this
loan
To determine eligibility under the KeystoneBEST programs, please visit PHEAA’s
website for more information by accessing http://www.pheaa.org.
Tax Tips:
The IRS offers tax credits intended to ease the burden for taxpayers attempting to pursue higher education or finance higher education for a family member. For more information on the following tax credits, consult a tax accountant or visit the IRS’s website at
www.irs.gov and search for the publications noted.
- The Hope Credit (of up to $1,500 for each eligible student) may be available to taxpayers who paid qualified tuition and related expenses. Refer to IRS Publication 970 Tax Benefits for Education.
- A Lifetime Learning Credit (of up to $1,000) may be available to you if you pay higher education costs. Refer to IRS Publication 970 Tax Benefits for Education.
- The Child Tax Credit is for taxpayers with children. Refer to IRS Publication 17 Your Federal Income Tax.
- The Earned Income Tax Credit is for taxpayers with low or moderate incomes. Refer to IRS Publication 596 Earned Income Credit (EIC).
- Tax payments on education loans may be tax deductible.
Some tax credits affect student loan repayment. Visit the American Education Services’ national website at
www.aesSuccess.org to learn more about student loan repayment. Also, consult your tax advisor regarding the applicability of tax credits and deductibility of education expenses related to your financial situation.
Contact Lending@riverfrontfcu.org
for more information.
|
