Student loan monthly payments can be automatically
deducted from your checking or savings
- Guarantees that monthly payments are never
late or lost in the mail. Also, the electronic
funds withdrawal is available with all KHESLC
- Receive a 0.25% interest rate reduction on federal
loans and/or a 0.50% for Kentucky Advantage Education loans.
This means you benefit with even lower interest rates for
the convenience of having funds withdrawn automatically.
Note: The interest rate reduction will be removed if a payment is returned from your bank for reasons that include, but are not limited to, non-sufficient funds, invalid account information, or a closed account.
Additional payments or large payments will advance your due date and will prevent your EFT payment from being pulled. Please advise us if you do not want to advance your due date.
If at any time your bank account or routing information needs to be changed, you must submit those changes in writing to our office at least five days prior to your EFT payment date.
To set up electronic funds transfer for your account, download
the Electronic Funds Transfer request form. Complete, sign and mail your form and a voided check to:
P.O. Box 24328
Louisville, KY 40224-0328
You may also fax the form and a copy of a voided check to:
Remember: You may select to have
funds withdrawn on the 1st, 5th, 10th, 15th, or 20th of the
month. The 10th will be used if you do not select a date. If your payment pull
date falls on a weekend or holiday, it will process on the next business day.
Don't forget to put your account number on all correspondence. Any questions? Call us toll free at 800.693.8220.