The Kentucky Advantage Education Loan is a great option if you need additional money for college. Once you have exhausted your grant, scholarship and federal loan options, it's good to know there is another education loan product for you.

Kentucky Advantage Education Loan offers a FIXED interest rate based on the repayment plan you choose! You will also find the fees associated with this loan are among the lowest in the nation.

The feature rates and fees of Kentucky Advantage Education Loan are:

Immediate Full Repayment

• 7.25% Fixed interest rate
• 2% Guarantee fee
• 0.50% Interest rate reduction for auto debit

Interest-Only Repayment

• 7.25% Fixed interest rate
• 2% Guarantee fee
• Student must be enrolled at least half-time
• 0.50% Interest rate reduction for auto debit

Postponed Repayment

• 7.75% Fixed interest rate
• 3% Guarantee fee
• Student must be enrolled at least half-time
• 0.50% Interest rate reduction for auto debit

• Death and Disability Benefit (If you die or become totally and permanently disabled while still in repayment, you and your co-signer are released from the outstanding debt.)
• Loans funded and serviced by a non-profit Kentucky agency
• The minimum loan amount is $1,000
• The aggregate loan amount is $75,000

• Be a Kentucky resident enrolled at an eligible school anywhere
• Be a non-Kentucky resident enrolled at an eligible Kentucky school
• Be 18 years of age or older
• Be a U.S. citizen or non-citizen with proof of residency card
• Have an acceptable income and credit history or an approved co-signer.
• Have a cosigner if loan amount is greater than $30,000.

The Kentucky Advantage Education Loan offers a 10-year repayment term and if your aggregate loan amount exceeds $10,000, you can request the repayment term to be extended to a 15-year term.

There are no prepayment penalties associated with this loan.

Or call 1-800-988-6333 to request an application for the Kentucky Advantage Education Loan.

You can also download or order a brochure

Updated: 7/10/2012