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Students
 
Many times Advantage Education Loans and Advantage Parent Loans are more cost effective than federal loans. Our loans are great if you need additional money for college. Below is our comparison chart for more information.

What loans are best for you?
  ADVANTAGE LOANS Federal Stafford: Undergraduate students Federal Stafford: Graduate & Professional students Federal PLUS: Graduate & Professional students, and Parents of undergraduate students
STUDENT LOAN PARENT LOAN
STUDENTS
Available for undergraduate students enrolled in degree–granting colleges, universities and community colleges YES Check out the parent section below YES N/A N/A
Available for graduate and professional students YES Check out the parent section below N/A YES YES
PARENTS
Available for parents of undergraduate students enrolled in degree–granting colleges, universities and community colleges Check out the student section above YES NO NO YES
Available for parents of graduate and professional students Check out the student section above YES NO NO NO


Benefits
  ADVANTAGE LOANS Federal Stafford: Undergraduate students Federal Stafford: Graduate & Professional students Federal PLUS: Graduate & Professional students, and Parents of undergraduate students
STUDENT LOAN PARENT LOAN
Low interest rates are FIXED* FIXED interest rates range from 4.95% to 7.59%, based on creditworth- iness and payment plan you choose. FIXED interest rates range from 4.95% to 7.59%, based on creditworth- iness and payment plan you choose. Fixed at 4.66% Subsidized and unsubsidized Stafford loans. Fixed at 6.21% Unsubsidized Stafford loans. Fixed at 7.21% Unsubsidized PLUS loans.
Origination / Guarantee fee 0% to 3% 0% to 3% 1.072% which increases to 1.073% as of 10/1/14 1.072% which increases to 1.073% as of 10/1/14 4.288% which increases to 4.292% as of 10/1/14
Interest rate reduction for auto debit YES, 0.50% YES, 0.50% YES, 0.25% YES, 0.25% YES, 0.25%
A loan can be made to a student enrolled less than half time YES, when on the Immediate Repayment – Principal Plus Interest Plan YES, when on the Immediate Repayment – Principal Plus Interest Plan NO NO NO
State–based YES YES NO NO NO
Owned and serviced by KHESLC, originated and disbursed by KHEAA YES YES NO NO NO
Several repayment plans YES YES YES YES YES
Minimum loan amount $1000 $1000 $100 $100 $100
Student loan: Death benefit (If the student dies or becomes totally and permanently disabled prior to loan payoff, the student and cosigner are released from the outstanding debt.) YES N/A YES YES N/A
Parent loan: Death benefit (If the benefitting student dies, the parent will be released from the outstanding debt.) N/A YES N/A N/A YES
10–year repayment term YES YES YES YES YES
Depending on your aggregate loan amount, you may be able to extend the loan term beyond 10 years YES YES YES YES YES
Prepayment penalty NO NO NO NO NO
Deferment or reduced payments are available if having trouble making payments YES YES YES YES YES

* Many companies who offer private loans do so with variable interest rates. Ours are FIXED! So you will not have the risk of unforeseen interest rate increases.

KHESLC is a public, nonprofit organization. Advantage Loans are offered to both students and their parents.


Updated: 7/15/2014

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