Student Loans for Every Stage of Your Education

Wherever you are on your educational journey, Somerset Trust is here to help. Through our partnership with PHEAA, we connect students and families with trusted student loan solutions to help make achieving educational goals possible.

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Private Student Loans

If you find yourself still needing extra funds to cover college costs beyond federal, state, and other aid, our partner, the Pennsylvania Higher Education Assistance Agency (PHEAA) offers the PA Forward and Keystone Student Loan programs. These state-based student loans feature competitive fixed rates, no application or origination fees, and great benefits!

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Looking to refinance your existing student loans?

PHEAA offers the PA Forward Reliance Loan to residents of MD, PA, DE, NJ, NY, OH, VA, and WV. There are benefits to refinancing with PA Forward, such as:

Lower monthly payments *
Get a lower interest rate **
One bill, one lender
No pre-payment penalties
Fixed interest rate
Different repayment terms to fit your personal situation ***

Learn more

*Your payment could increase depending on the selected repayment term.
**Interest rate depends on credit score and other factors.
***You could pay more interest over the life of the loan with a longer loan term.

Getting Started Is Easier Than You Think

Whether you're applying for a student loan, helping a student pay for school, or exploring refinancing options, understanding the next step can make the process feel more manageable.

Explore Your Options

Review available loan paths and identify the option that best fits your educational goals and financial needs.
Apply Through PHEAA

Complete the application process and provide any required information or documentation.
Move Forward With Confidence

Once approved, you'll have the resources you need to help pay for education or manage existing student loan debt.

Student Loan FAQs

Paying for education comes with plenty of questions. These answers can help you better understand student loan options before you take the next step.

Do I have to be a Pennsylvania resident to apply?

Eligibility varies by loan program. Some options are available to Pennsylvania residents attending approved schools, while others may be available to students from neighboring states attending approved schools in Pennsylvania. Review program requirements for details.

Can a parent apply on behalf of a student?

Yes. Certain loan options are designed specifically for parents or guardians who want to help cover education costs for a dependent undergraduate student.

Can student loans be used for more than tuition?

Eligible education expenses may include tuition, fees, books, housing, meal plans, and other approved school-related costs. Program requirements and limits apply.

When do student loan payments begin?

Repayment terms vary by loan program. Some loans may offer deferred payments while a student is enrolled, while others may have different repayment structures. Review program details for specific requirements.