The Pennsylvania Higher Education Assistance Agency
has built itself from a small student loan organization in1964
with a guaranty
volume of only 4,600 student loans to certainly one of the largest, financial aid organizations
in the country
. Today, PHEAA
oversees in excess of $33 billion
in total assets
and serves almost 4,000,000 students
nationally through its state grant, guaranty, servicing and financial aid systems.
For more than 35 years, PHEAA has been devoted to managing affordable access to higher education for students and their families. The Agency takes leadership in creating innovative ways to ease the financial stress of borrowers, and streamlining systems for schools and lenders.
Beyond the distribution of funds, PHEAA remains committed to reducing financial risk and ensuring that inexpensive funding remains accessible to all students. Thorough and successful default prevention programs have have allowed the PHEAA the lowest default rate (1.62%) among major guarantors.