Options to help repay your student loans are listed below.
Each repayment plan has its own advantages, so you should carefully consider
the benefits of each. There is no prepayment penalty for any of these repayment
options. For more information, click on the plan.
Federal Loan Repayment Plans
- Standard Repayment: Equal monthly payments over 10 years.
Equal monthly payments of principal and interest are calculated
so that your student loans are repaid within the standard 10-year term. By not extending the repayment period, interest is minimized. However, your minimum monthly payment may be higher than with other repayment options.
- Income-Based Repayment: Takes into consideration your income, family size, and federal education loan debt.
- Extended Repayment: A possible option if you owe more than $30,000 in student loans.
- Graduated Repayment
Start out making reduced payments for the first 2 years. Your
payment amount then increases by 10% every 2 years for the remaining loan term. Please contact us
for an estimated payment amount.
Get more information about repaying your federal loans here
Advantage Education Loan Repayment Plans (private loans only)
Make a Payment
Once a loan is disbursed, the repayment plan selected during the application process cannot be changed.
You have your choice of five payment methods. Click on the type for more information.
How Payments Are Applied
- Electronic Funds Transfer (EFT): Payments
are automatically deducted from your checking or savings account. You may get an interest rate
reduction with EFT.
Online payment system that allows to you make one-time payments or schedule recurring payments up to 6 months in advance. You may also make special allocations to a single loan or group. Frequently Asked Questions.
- Pay by phone:
An Interactive Voice Response (IVR) bill payment program can be accessed by calling our toll-free number 1-800-693-8220. Please have your checking or savings account and routing numbers ready.
- U.S. mail: Make your payments by mail.
Please make checks payable to KHESLC. Be sure to include your account number on the check.
PO Box 9001774
Louisville KY 40290-1774
Loans not in default, all Advantage Education Loans/Advantage Parent Loans and all loans formerly owned by Georgia Student Finance Authority
PO Box 4869
Frankfort KY 40604-4869
Defaulted Loans (except Advantage Education/Advantage Parent Loans)
ChargeSmart – Debit Card payment (additional fee): Make a payment with your debit card. You may make a one–time payment or schedule recurring payments.
In addition to your payment amount, a convenience fee will be charged for each transaction. This convenience fee is charged by ChargeSmart, LLC, a third–party payment processor.
To make a payment login to you account.
Payments are applied in the following order, unless in an Income-Based Repayment Plan:
- Outstanding fees
- Outstanding accrued interest
Payments cannot be applied to principal unless all fees and accrued interest are paid.
Special Allocations For any payment type, if you would like to allocate a
payment to a specific group or loan please complete and return the following form:
Special Payment Allocation Worksheet. This form may be mailed along with your payment to the appropriate address listed on the worksheet. Payments will
be applied normally and then adjusted per special instructions in approximately three
Please note: Additional or large payments may advance your due date unless
otherwise instructed. Subsidized and unsubsidized consolidation loans made on the same
date will be adjusted to have the same due date.
Payment reallocations must be requested within 60 days of the payment posting date.