The rising cost of higher education continues to place a heavy burden on Pennsylvania students and families. Too many are forced to rely on private student loans with high, variable interest rates that can take decades to repay. As a result, Pennsylvania consistently ranks among the states with the highest levels of student debt—limiting opportunity and weakening our workforce.
 
This legislation establishes a Low-Interest Student Loan Program to provide affordable, fixed-rate loans to Pennsylvania students attending approved institutions of higher education. As a condition of participation, borrowers will complete a personal finance course, ensuring they are equipped to manage debt responsibly and build long-term financial stability.
 
Loans will be available to all Pennsylvania students, regardless of household income, field of study, or background—ensuring access to affordable financing for those who do not qualify for financial aid but still struggle to afford college.
 
States such as Minnesota, Iowa, and North Dakota have demonstrated that low-interest student loan programs reduce long-term debt burdens, retain graduates, and strengthen state economies.
 
By pairing affordable financing with financial literacy, this program will reduce reliance on high-interest private loans, expand educational opportunity, and invest directly in Pennsylvania’s future workforce.
 
Please join me in co-sponsoring this legislation to make higher education more affordable and attainable for all Pennsylvanians.