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Students
Types of Loans   |   Student Loan   |   Parent Loan   |   Benefits
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Need more information on state-based loans?

Call us toll-free at 888-678-4625

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What We Offer

Parent Loan

Advantage Parent Loan
 

If your parents are willing to help with college expenses, a solution may be to use the Advantage Parent Loan.

Interest rates start at 4.95% and do not exceed 7.59%.

The exact FIXED rate will depend on creditworthiness, choice of payment plan and if you use auto debit.

The feature rates and fees are:

Immediate Repayment – Principal Plus Interest*

  • 4.95% to 7.09% Fixed interest rate
  • NO FEES, unless on the Postponed Repayment Plan (3%)
  • Student can be enrolled less than half time
  • 0.5% Interest rate reduction for auto debit

Immediate Repayment – Interest Only**

  • 5.59% to 7.09% Fixed interest rate
  • NO FEES, unless on the Postponed Repayment Plan (3%)
  • Student must be enrolled at least half time
  • 0.5% Interest rate reduction for auto debit

Postponed Repayment***

  • 6.49% to 7.59% Fixed interest rate
  • 3% Guarantee fee
  • Student must be enrolled at least half time
  • 0.5% Interest rate reduction for auto debit

*Repayment begins as soon as the loan is fully disbursed.

**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.

***Repayment begins six months after the student leaves school or drops below half–time status.

Other features include:
  • Available for undergraduate and graduate students
  • Death Benefit (If the benefitting student dies prior to loan payoff, the parent and cosigner (if applicable) are released from the outstanding debt.)
  • Loans made after July 1, 2013 that were placed in Interest–Only or Postponed Repayment receive a six–month grace period
  • Loans funded and serviced by a trusted non–profit agency
  • The minimum loan amount is $1,000
  • Loans can be used to cover a prior year's balance as long as it is no more than 60 days bast the end of the loan period and the student is enrolled in a subsequent term.
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

The Advantage Loans offer a 10‐year repayment term. 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 these loans.

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


You can also order a brochure


Kentucky Advantage Loan

 



Updated: 7/15/2014

KENTUCKY HIGHER EDUCATION STUDENT LOAN CORPORATION   |    TERMS AND CONDITIONS   |   PRIVACY POLICY   
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