HARRISBURG – Rep. William F. Adolph, chairman of the board of the Pennsylvania Higher Education Assistance Agency (PHEAA), issued the following statement on the funding for grants for students contained in House Bill 1801
“The mission of the Pennsylvania Higher Education Assistance Agency is to assist Pennsylvania students in their pursuit to get a higher education. PHEAA achieves this by issuing grants and providing affordable loans to students so they can afford to get a degree after high school. PHEAA is nationally recognized as a leader in the loan industry. Because of this nationally recognized status, PHEAA also services loans for students throughout the United States. The profits generated from this help PHEAA to enhance the size and amount of grants being awarded to Pennsylvania students.
“PHEAA has already issued the grants to Pennsylvania students for this year. With the state appropriation of $266 million for grants to students and using $125 million in earnings, PHEAA will comfortably be able to fund the grants that have already been issued. Further after talking with the management at PHEAA, I can state with great certainty that PHEAA will be able to sustain its commitment of $125 million for grants to students in FY 2016-17.”
Representative William Adolph
165th Legislative District
Pennsylvania House of Representatives
Media Contact: John O’Brien