Our offices will be closed on Monday, January 21, 2019, in observance of Martin Luther King, Jr. Day. We apologize for any inconvenience this may cause.
Compare Advantage Student and Parent Loans to Federal Loans
Many times Advantage Education Loans and Advantage Parent Loans are more cost effective than federal loans. Our loans are great if you need additional money for college. Below is our comparison chart for more information.
|ADVANTAGE LOANS||FEDERAL LOANS|
|Undergraduate Students||Graduate & Professional Students||PLUS: Graduate & Professional Students, and Parents of Undergraduate Students|
|Available for undergraduate students enrolled in degree–granting colleges, universities and community colleges||YES||Check out the parent section below||YES||N/A||N/A|
|Available for graduate and professional students||YES||Check out the parent section below||N/A||YES||YES|
|Available for parents of undergraduate students enrolled in degree–granting colleges, universities and community colleges||Check out the student section above||YES||N/A||N/A||YES|
|Available for parents of graduate and professional students||Check out the student section above||YES||N/A||N/A||N/A|
|ADVANTAGE LOANS||FEDERAL LOANS|
|Undergraduate students||Graduate & Professional students||PLUS: Graduate & Professional students, and Parents of undergraduate students|
|Low interest rates are FIXED*||FIXED interest rates range from 3.80% to 6.99%, based on creditworth- iness and payment plan you choose.||FIXED interest rates range from 3.80% to 6.99%, based on creditworth- iness and payment plan you choose.||Fixed at 5.05%, subsidized and unsubsidized loans.||Fixed at 6.60%, subsidized and unsubsidized loans.||Fixed at 7.60% unsubsidized PLUS loans.|
|Interest rate reduction for auto pay||YES, 0.25%||YES, 0.25%||YES, 0.25%||YES, 0.25%||YES, 0.25%|
|Origination / Guarantee fee||NO Fees!||NO Fees!||Yes, 1.069% (changes to 1.062% as of 10/1/18)||Yes, 1.069% (decreases to 1.062% as of 10/1/18)||Yes, 4.276% (decreases to 4.248% as of 10/1/18)|
|Available for students enrolled less than half-time status||YES, when on the Immediate Repayment – Principal Plus Interest Plan||YES, when on the Immediate Repayment – Principal Plus Interest Plan||NO||NO||NO|
|Owned and serviced by KHESLC, originated and disbursed by KHEAA||YES||YES||NO||NO||NO|
|Several repayment plans available||YES||YES||YES||YES||YES|
|Minimum loan amount||$1000||$1000||$100||$100||$100|
|Student loan: Death and Disability Benefit||YES (If the student dies or becomes totally and permanently disabled prior to loan payoff, the student and cosigner are released from the outstanding debt.)||N/A||YES||YES||YES for Graduate & Professional Students|
|Parent loan: Death Benefit||N/A||YES (If the benefitting student dies, the parent will be released from the outstanding debt.)||N/A||N/A||YES for Parent PLUS loans (If the parent or the benefitting student dies,the parent will be released from the outstanding debt. Disability benefit also applies.)|
|10–year repayment term||YES||YES||YES||YES||YES|
|Deferment or reduced payments are available if having trouble making payments||YES||YES||YES||YES||YES|
* Many companies who offer private loans do so with variable interest rates. Ours are FIXED! So you will not have the risk of unforeseen interest rate increases.
KHESLC is a public, not-for-profit organization. Advantage Loans are offered to both students and their parents.
Updated August 2018