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Types of Loans   |   Student Loan   |   Parent Loan   |  
Refinance Loan   |   Benefits
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KHESLC reserves the right to modify or discontinue loan features or benefits or to discontinue loan programs at any time without notice.

Advantage Education Loans

Parent Loan

Advantage Parent Loan

The Advantage Parent Loan is a great option for parents of undergraduate and graduate students who need additional money for college. Once students have exhausted their grant, scholarship and federal loan options, it's good to know there's another education loan product for you to help them.

FIXED interest rates start at 4.45% and do not exceed 7.59%.

Your FIXED interest rate is based on the repayment plan selected, your credit history and other factors. Your interest rate will be reduced further if you use our automatic debit payment service.

Applying with a creditworthy cosigner may help you qualify and/or receive a lower FIXED rate.

Immediate Repayment – Principal Plus Interest

  • 4.45% to 7.09% FIXED interest rate
  • NO Fees!
  • Student status can be less than half‐time enrollment
  • 0.5% Interest rate reduction for using our auto-debit service
  • Repayment begins as soon as the loan is fully disbursed

Immediate Repayment – Interest Only

  • 5.09% to 7.09% FIXED interest rate
  • NO Fees!
  • Student must have at least a half‐time enrollment status
  • 0.5% Interest rate reduction for using our auto‐debit service
  • Interest payments begin as soon as the loan is fully disbursed
  • Full repayment begins six months after the student leaves school or drops below half‐time status

Postponed Repayment

  • 5.99% to 7.59% FIXED interest rate
  • NO Fees!
  • Student must have at least a half‐time enrollment status
  • 0.5% Interest rate reduction for using our auto-debit service
  • Repayment begins six months after the student leaves school or drops below half‐time status
Benefits and Features
  • Death Benefit —
    For the parent loan, if the benefitting student dies prior to loan payoff, the parent and cosigner (if applicable) are released from the outstanding debt.
  • Loans funded and serviced by a trusted nonprofit agency
  • Loans made after July 1, 2013, that were placed in Interest‐Only or Postponed Repayment receive a
    six‐month grace period
  • Minimum loan amount is $1,000
  • Minimum monthly payment is $50
  • Loans have a 10‐year repayment term. If your aggregate loan amount exceeds $10,000, you can request a 15‐year term.
  • Loans can be used to cover a prior year's balance as long as it is no more than 60 days past the end of the loan period and the student is enrolled in a subsequent term
  • No prepayment penalties
To qualify, the parent must:
  • Be the parent or stepparent of an eligible student
  • Be a U.S. citizen or non‐citizen with proof of residency card
  • Have an acceptable income and credit history or an approved cosigner
  • Have a cosigner if loan amount is greater than $30,000
  • Be a resident of, or have a benefitting student enrolled at an eligible school in any of the following states: AL, FL, GA, IN, KY, MS, MO, OH, TN, VA or WV

Or call 1–800–988–6333 to request an application.

The Advantage Education Loan is a private loan. You should always apply for eligible state and federal grants, scholarships and Direct Loans first.

KHESLC reserves the right to modify or discontinue loan features or benefits or to discontinue loan programs at any time without notice.

You can also Order a brochure


Advantage Education Loan

 



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