Created in 1963 by the Pennsylvania General Assembly, the Pennsylvania Higher Education Assistance Agency (PHEAA) has evolved from a state-based student loan guarantor to a major national provider of student financial aid services. Its mission is to create affordable access to higher education. PHEAA is known for administering the Pennsylvania State Grant Program and other state-funded aid programs. On a national level, it has operated under the names FedLoan Servicing and American Education Services (AES), servicing a massive portfolio of federal and private student loans. While it has ceased its federal loan servicing contract as of late 2021, it continues to service private loans through AES and manage various state grant programs.

Founded in

United States