PHEAA
PHEAA is a Pennsylvania state-chartered agency created in 1963 that administers 20+ financial aid programs and operates the AES national student loan servicing subsidiary, serving millions of students, families, and higher education institutions.
- Company typePrivate
- Founded1963
- HeadquartersHarrisburg, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What PHEAA does
PHEAA (Pennsylvania Higher Education Assistance Agency) is a state-chartered agency created by the Pennsylvania General Assembly in 1963, headquartered in Harrisburg, Pennsylvania, with statutory responsibility for administering higher education financial aid in the Commonwealth. The agency oversees more than 20 financial aid programs, including the PA State Grant Program (awards up to $6,000 per year), PA Forward and Keystone Student Loans, Grow PA Scholarship Grants and Tuition Waivers, PA-TIP, PA HELPS, work-study, and targeted workforce development initiatives, and it administers PA 529 college savings plans that have supported approximately 146,000 beneficiaries with $4.8 billion in expenses.
The agency's core technology and delivery infrastructure was modernized through a mainframe-to-cloud transition completed in January 2026, anchored by the GrantUs platform launched in May 2024 to centralize administration of multiple state financial aid programs. Through its subsidiary American Education Services (AES), PHEAA performs national-scale student loan servicing for FFELP and private education loans, with reported industry-leading customer service ratings. Distribution is augmented by 13 designated Higher Education Access Partners embedded in Pennsylvania schools and communities.
PHEAA's revenue is generated through federal and private student loan servicing fees earned by AES, guaranty agency collections on defaulted FFELP loans, PA 529 program administrative fees, state appropriations, and investment earnings. Earnings are returned to support the public service mission and reduce costs to the Commonwealth, which PHEAA states saves millions of dollars annually. Leadership includes President and CEO James H. Steeley, CFO Kyle Lefever, CIO Michael Hendler, CLO Jean Svoboda, and senior vice presidents overseeing AES, federal relations, public affairs, guaranty/strategy, and internal audit.
PHEAA firmographics
Firmographics- Name
- PHEAA
- Legal name
- Pennsylvania Higher Education Assistance Agency
- Website
- https://pheaa.org
- Company type
- Private
- Founded year
- 1963
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- PHEAA is a Pennsylvania state-chartered agency created in 1963 that administers 20+ financial aid programs and operates the AES national student loan servicing subsidiary, serving millions of students, families, and higher education institutions.
- Ownership category
- akta.pro rank
PHEAA industry classification
Industry- Product category
- State Student Financial Aid Administration
- NAICS
- Educational Support Services (611710), Grantmaking and Giving Services (81321), Administration of Urban Planning and Community and Rural Development (92512)
- SIC
- Federal & Federally-Sponsored Credit Agencies (6111), Services-Educational Services (8200)
- akta.pro primary industry
- Financial Aid Systems, Disbursement & Payment Operations (EDADAHAJ)
- akta.pro secondary industries
- Financial Aid Administration & Packaging (EDALAJAA), Government Student Financial Aid Agencies (EDADAHAA), Student Loan Programs & Servicers (Public/Nonprofit) (EDADAHAE), Federal Student Loans (Direct/FFEL/Perkins) (FSAKAEAA)
Keywords
Where PHEAA is headquartered
LocationHeadquarters
- HQ city
- Harrisburg
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
PHEAA business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Loan Servicing (AES): PHEAA conducts student loan servicing operations nationally as American Education Services (AES), servicing FFELP and private education loan products. Revenue generated supports public service mission and administration of state programs.
- Guaranty Operations: PHEAA serves as a guarantor for FFELP loans, managing default prevention services including the Default Loan Rehabilitation Program. Earnings support agency operations.
- State Program Administration: PHEAA administers the PA State Grant Program and other state-funded student aid programs. The agency notes that its earnings contribution saves the Commonwealth millions of dollars each year in administration costs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | PA State Grant Program - Maximum award $6,000 per year for 2026-27 academic year |
| Subscription | Annual | Grow PA Scholarship Grant - Maximum $5,000 per year |
| Subscription | Annual | Grow PA Tuition Waiver - Covers out-of-state tuition difference at PASSHE schools |
| Subscription | Annual | PA-TIP (Targeted Industry Program) - Up to $6,000 per year |
| Subscription | Annual | PA Student Loan Relief for Nurses (SLRN) - Up to $2,500 per year, max $7,500 |
| Usage-based | Pay-as-you-go | PA Forward Student Loans - Variable rates |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels9 records
PHEAA product offering
Product offeringCore offering
PHEAA administers more than 20 Pennsylvania state-funded student financial aid programs, including grants, scholarships, tuition waivers, work-study subsidies, and state-sponsored student loans, while also operating American Education Services (AES) to service federal and private student loans on a commercial basis nationwide. In May 2024, PHEAA launched GrantUs, a cloud-based platform that centralizes access to its state aid portfolio for students, families, and partner organizations. AES is one of the largest student loan servicers in the United States, handling borrower account management, repayment, and default aversion for federal direct loans and legacy FFELP portfolios.
Product overview
PHEAA operates as a comprehensive student financial aid organization offering a portfolio of 20+ financial aid programs administered through its cloud-based GrantUs platform. The core offerings include the PA State Grant Program (up to $6,000 for eligible PA residents), PA Forward and Keystone Student Loans for undergraduate/graduate financing, and the Grow PA Scholarship Grant Program (up to $5,000/year for in-demand occupations). PHEAA also administers specialized workforce development programs including PA-TIP, PA Student Teacher Support, PA HELPS for mental health internships, and the Grow PA Tuition Waiver for out-of-state students at PASSHE schools. Additional support includes work-study programs, loan rehabilitation services for defaulted loans, and resources for foster youth (Chafee ETG, FosterEd) and military members. The organization conducts student loan servicing nationally as American Education Services (AES), with complementary planning tools including EducationPlanner, MySmartBorrowing, and YouCanDealWithIt.com.
Differentiator
Problem solved
Functional benefit
Products and services
- PA State Grant Program Need-based grant program for Pennsylvania undergraduate students attending approved postsecondary institutions, with a maximum award of $6,000 for the 2026-27 academic year.
- PA Forward Student Loan Program Fixed- and variable-rate state-funded student loans for Pennsylvania students and families, covering up to the cost of attendance minus other aid.
- Keystone Student Loan Program State-sponsored private student loan offered to Pennsylvania borrowers in conjunction with PA Forward loans when additional funding is needed.
- PA State Work-Study Program State-subsidized part-time employment program that pairs Pennsylvania students with public and private employers, providing wages and career experience.
- Grow PA Scholarship Grant Program Scholarship grant for Pennsylvania students pursuing in-state postsecondary education, supporting retention of state talent.
- Grow PA Tuition Waiver Program Tuition waiver program providing cost relief for eligible Pennsylvania students attending in-state institutions.
- PA Student Teacher Support Program State-funded support program for Pennsylvania students preparing to enter the teaching profession, providing financial assistance during their educator preparation.
- PA HELPS Targeted state financial aid program designed to support specific categories of Pennsylvania students with higher education costs.
- PA-TIP (Pennsylvania Targeted Industry Program) Pennsylvania Targeted Industry Program created in 2012 to encourage students to pursue degrees in critical shortage occupations and connect them with related employment opportunities.
- PA Student Loan Relief for Nurses (SLRN) Loan forgiveness/relief program for Pennsylvania nurses providing service in the state, supporting the healthcare workforce pipeline.
- Chafee Education and Training Grant (ETG) Federal-state grant program for Pennsylvania youth who have experienced foster care, supporting postsecondary education and training.
- FosterEd State-supported program providing educational financial assistance and support services to Pennsylvania foster youth pursuing postsecondary education.
- American Education Services (AES) Student Loan Servicing Commercial federal and private student loan servicing operation providing borrower account management, repayment, default aversion, and rehabilitation services nationwide.
- Default Loan Rehabilitation Program Rehabilitation program for borrowers with defaulted federal student loans serviced through AES, enabling loan reinstatement and restoration of federal benefits.
- GrantUs Platform Cloud-based platform that centralizes access to PHEAA's portfolio of more than 20 state-funded financial aid programs for students, families, and partner organizations.
Quantifiable outcome
- PA 529 savings plans have facilitated over $4.8 billion in higher education expenses
- +1 more outcomes
Companies that use PHEAA
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles4 records
PHEAA technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
PHEAA partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Pennsylvania Local Education Agencies (LEAs) and Non-Public SchoolscoreOver 200 LEAs and non-public schools participate in PHEAA-administered programs including the PA Student Teacher Support Program, PA HELPS, and PA State Grant Program. Schools certify student eligibility, participate in work-study programs, and receive program funds.
- Pennsylvania Department of EducationcorePHEAA administers state-funded programs in coordination with PDE, including PA State Grant Program, Grow PA Grant, PA-TIP, and educator support programs. PDE provides program approvals and policy guidance.
- Pennsylvania Postsecondary InstitutionscoreColleges, universities, and technical schools throughout Pennsylvania participate in PHEAA programs by administering grants, work-study funding, and serving as intermediaries for student applications.
- PASSHE (Pennsylvania State System of Higher Education)corePASSHE universities participate in the Grow PA Tuition Waiver Program, offering in-state tuition rates to out-of-state students pursuing in-demand occupations.
- Pennsylvania EmployersminorEmployers partner with PHEAA through the PA State Work-Study Program, hiring students for jobs that may align with their future career fields. Employers can hire work-study eligible students up to 40 hours per week.
- Pennsylvania School Counselors and K-12 PartnerscoreK-12 counselors throughout Pennsylvania receive free resources, training, and support from PHEAA's 13 Higher Education Access Partners to help students plan for and afford higher education.
- Pennsylvania Tuition Account Program Advisory BoardminorPHEAA's Board Chair serves on this advisory board, which provides guidance on Commonwealth's PA 529 savings plans that have helped pay more than $4.8 billion in higher education expenses for nearly 146,000 beneficiaries.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
PHEAA competitors and assessment
Company assessmentEmerging players
- SoFi: Digital-first private student loan lender and refinancer competing for the same borrower segments as PA Forward and Keystone. Brings stronger fintech UX, faster underwriting, and aggressive marketing against established agencies.
- College Ave Student Loans: Online-focused private student loan lender offering undergraduate, graduate, and parent loans. Competes directly with PA Forward for in-state Pennsylvania families and with Keystone across the Mid-Atlantic and Northeast.
Direct peers
- California Student Aid Commission: Administers Cal Grant, Middle Class Scholarship, and other California state aid programs through a comparable structure of public funding, school partnerships, and grant/loan administration. Operates the largest state grant program in the U.S.
- New York State Higher Education Services Corporation (HESC): New York's state student aid agency administers the TAP grant and other state-funded programs, mirroring PHEAA's mandate. Both agencies run statewide grant administration, school partnerships, and default prevention services for state residents.
- Illinois Student Assistance Commission (ISAC): State agency administering the Monetary Award Program (MAP) grant and other Illinois financial aid programs, providing the closest comparable to PHEAA's portfolio of state-funded grants, scholarship programs, and school partnerships.
- Texas Higher Education Coordinating Board (THECB): Texas state higher education agency administering the Texas Grant, TEXAS Grant, and other state-funded aid programs. Comparable in scale of state-funded portfolio and legislative accountability, though operating in a much larger and more demographically diverse state.
- Navient (now part of MOHELA ecosystem / Aidvantage): Federal student loan servicer with overlapping FFELP and private loan servicing capabilities competing for the same third-party servicing mandates and institutional relationships as PHEAA's AES division.
- Nelnet Servicing: Major federal student loan servicer that operates in the same national loan-servicing market as PHEAA's American Education Services (AES), handling FFELP and private loan portfolios with comparable scale, contact centers, and claims processing capabilities.
- Florida Department of Education Office of Student Financial Assistance: Administers Florida Bright Futures Scholarships and other state-funded financial aid programs through a state-government structure analogous to PHEAA, including school partnerships and direct-to-student grant administration.
Broad incumbents
- Sallie Mae: National private student loan originator and servicer that competes directly with PA Forward and Keystone loans. Operates at much greater scale and brand recognition across all 50 states, making it the dominant private-market comparator for PHEAA's lending business.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
PHEAA social profiles
Digital presencePHEAA compliance and trust
Trust signalCompliance1 record
PHEAA financial estimates
Financial estimateRevenue estimate
Valuation estimate
PHEAA leadership team
Management profileNumber of profiles
Profiles8 records
PHEAA subsidiaries and ownership
Company hierarchySubsidiaries2 records
PHEAA funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PHEAA M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PHEAA
What does PHEAA do?
PHEAA administers more than 20 Pennsylvania state-funded student financial aid programs, including grants, scholarships, tuition waivers, work-study subsidies, and state-sponsored student loans, while also operating American Education Services (AES) to service federal and private student loans on a commercial basis nationwide. In May 2024, PHEAA launched GrantUs, a cloud-based platform that centralizes access to its state aid portfolio for students, families, and partner organizations. AES is one of the largest student loan servicers in the United States, handling borrower account management, repayment, and default aversion for federal direct loans and legacy FFELP portfolios.
Is PHEAA a public or private company?
PHEAA is a private company. It is classified as state government owned and is currently operating.
When was PHEAA founded?
PHEAA was founded in 1963. It employs 1,001 to 5,000 people.
Where is PHEAA based?
PHEAA is headquartered in Harrisburg, United States, in the North America region.
How does PHEAA make money?
Three revenue lines are on record. Loan Servicing (AES) is the primary driver. The others are guaranty Operations and state Program Administration.
Who are PHEAA's main competitors?
Emerging players on record are SoFi and College Ave Student Loans. Direct peers are California Student Aid Commission, New York State Higher Education Services Corporation (HESC), Illinois Student Assistance Commission (ISAC), Texas Higher Education Coordinating Board (THECB), Navient (now part of MOHELA ecosystem / Aidvantage), Nelnet Servicing and Florida Department of Education Office of Student Financial Assistance. Sallie Mae is listed as a broad incumbent.
Does PHEAA have an API?
No public API is recorded for PHEAA.
What industry is PHEAA in?
PHEAA's product category is State Student Financial Aid Administration. Its primary akta.pro industry code is EDADAHAJ, Financial Aid Systems, Disbursement & Payment Operations, with a secondary code of EDALAJAA, Financial Aid Administration & Packaging. Its NAICS code is 611710 and its SIC code is 6111.