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For Immediate Release
January 21, 2004
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White: Area College Students
Received $22.4 Million in State Grants for College Aid
Harrisburg -- State Sen. Mary Jo White
(R-21) today announced that more than $22.4 million in student aid was
distributed in 2002-03 to 10,853 students in Venango, Clarion, Forest,
Warren, Erie and Butler counties via the Pennsylvania State Grant
Program.
The total includes 4,264 students in the
21st Senatorial District, which covers all or part of the six counties.
The senator said the General Assembly
appropriated $347.911 million for the State Grant program for the
2002-03 academic year. More than 154,000 Pennsylvania students were
awarded a State Grant -- 4,000 more than the previous year.
"Students and
parents know that paying for college is a challenge, but there is help
available," said White. "Students in our area and across Pennsylvania
will receive the education they need to become community leaders due the
support they receive from the Commonwealth."
The grants are administered by American
Educational Services/Pennsylvania Higher Education Assistance Agency.
White said all money appropriated by
legislators goes directly to students; AES/PHEAA self-funds all
administrative costs at no expense to Pennsylvania taxpayers. The
Pennsylvania State Grant Program is one of the largest and most
effective programs of its kind in the nation.
In addition to receiving grants, more than
$1.8 billion in student loans were approved for Pennsylvania students
during 2003. However, while other federal student loans charge as much
as four percent of the loan amount in up-front fees, AES/PHEAA offers
Pennsylvania students KeystoneBEST, which is a zero-fee loan. Since
AES/PHEAA and the lending community pay these fees for the borrower,
Pennsylvania students and families save more than $70 million each year.
A typical KeystoneBEST borrower saves as much as $1,100 over the life of
the loan.
"I urge families who
are concerned about paying for college tuition to look into to these
programs and take advantage of the vast array of assistance that is
within reach," said White.
Further information on the many student
aid programs available to Pennsylvania students can be found at
http://www.PHEAA.org.
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