Who manages the loans, and what may PEF loans be used for?
• Individual loans are usually managed by local banks or other financial institutions. • The financial institution usually makes payments for school costs directly to the educational institution. • Typically, loans are used to pay for vocational or technical training that will be completed in two years or less. However, a participant may qualify for up to four years, depending on the course of study. • Loans are typically used only for the costs of school tuition, books, and fees.
