To use our online Advantage Education Loan application process, please upgrade your browser to a browser like Chrome, Firefox, Safari, or Edge.

Save some serious cash with Advantage Education Loans! Student and parent Loans - Fixed rates as low as 3.81% apr* with auto pay. Refinance Loans - Fixed rates as low as 3.75% apr with auto pay.

What is private student loan refinancing/consolidation?

With the Advantage Refinance Loan, you can refinance a single student loan or consolidate multiple student loans into a single payment. Refinancing/consolidation can ease the burden of making multiple payments to multiple lenders and lower your interest rate and monthly payment, helping you better manage your student loan debt.

Can I refinance my federal and private student loans together?

Yes! With the Advantage Refinance Loan, you can combine your federal Direct or Stafford, Parent PLUS, Graduate PLUS, federal Perkins, and private school-certified student loans into one convenient loan and lower your monthly payments. However, there are a few key benefits associated with federal loans which will go away after the refinance/consolidation transaction occurs. Visit https://studentaid.ed.gov/sa/types/loans/federal-vs-private to learn about all the available options.

Who is eligible for an Advantage Refinance Loan?

Anyone who has entered grace or repayment on the loans they wish to refinance.

An eligible borrower must be a U.S. citizen or non‐citizen with proof of residency card.

Student borrowers may refinance/consolidate their education loans and any parent loans for which they are the benefitting student. Parents may refinance/consolidate their own student loans and any parent loans they have.

Can I refinance or consolidate with an Advantage Refinance Loan if I have already refinanced or consolidated with another lender?

Yes, you can refinance or consolidate your student loans with an Advantage Refinance Loan even if you have already completed the process with another lender.

Are there any fees associated with an Advantage Refinance Loan?

There are no application, origination, guarantee or late fees, nor are there any prepayment penalties.

Are the interest rates fixed or variable?

All interest rates for the Advantage Refinance Loan are FIXED, which, depending on the size of the loan, could save you hundreds or even thousands of dollars compared to other lenders. If your current student loans have a variable interest rate, your monthly payments can change as the rate changes. If you refinance/consolidate into our FIXED rate loan, you’ll have the certainty of a constant monthly payment. Your FIXED interest rate is based on credit history, income, type of loans being refinanced, repayment term selected, borrower's state of residence and other factors, plus there are NO FEES! Take advantage of our auto pay service for even lower rates.

What are the terms of an Advantage Refinance Loan?

You may choose a 10-, 15-, or 20-year repayment term. Your monthly payment amount will be based on the repayment term you choose. The minimum monthly payment is $50.

What is an auto-debit/EFT discount?

If you elect to make your payments with our electronic fund transfer (EFT) using a checking or savings account, your interest rate on the Advantage Refinance Loan may be reduced by 0.25%. More info…

Example: A loan having a 3.99% interest rate would be reduced to 3.74% while using our EFT service.

Do I need a cosigner?

Cosigners are generally only required if a borrower does not meet certain minimum requirements such as having a good credit history, being employed and meeting the income-to-debt ratio. Applying with a creditworthy cosigner may help you qualify and/or receive a lower FIXED interest rate.

Can the cosigner be released?

Yes, a cosigner release option is available after 36 months of on-time, regularly-scheduled payments. The borrower must request the release. When you request a cosigner release, a credit review will be performed to insure you meet certain credit and eligibility requirements.

Do I need to refinance/consolidate all my student loans, or can I choose which loans to include in an Advantage Refinance Loan?

You select which loans you want to include in your Advantage Refinance Loan.

I forgot to include a loan in my Advantage Refinance Loan. Can I add it?

We understand things can be missed. In the event you forget to include loans on the application, you can add those in at any time. If additional loans are added more than 120 days after the original application, a new application will be required.

Is the Advantage Refinance Loan forgiven should I die or become totally and permanently disabled?

No one wants to think about the unfortunate things in life, but should the worst happen, relief may be available. If the borrower is the benefitting student and dies or becomes totally and permanently disabled prior to loan payoff, the borrower and cosigner (if applicable) are released from the outstanding debt. For parent borrowers, if the benefitting student dies prior to loan payoff, the parent and cosigner (if applicable) are released from the outstanding debt.

Does the Advantage Refinance Loan offer forbearance options if I have trouble making payments?

Yes, borrowers can request to temporarily suspend payments upon a proven economic hardship or during military deployment.

What are the repayment options?

The Advantage Refinance Loan offers the standard repayment and a graduated repayment option. The graduated repayment offers an initial reduced payment followed by a 10% increase in payments every two years for the remainder of the loan term.

Will my Advantage Refinance Loan be sent to a third party to manage payments and service the loan?

No, Advantage Refinance Loans are owned, managed and serviced by the Kentucky Higher Education Student Loan Corporation (KHESLC). We do not sell or subcontract our loans.

Is there a residency requirement?

Yes, an eligible borrower must be a U.S. citizen or non‐citizen with proof of residency card.

Do you have additional questions?

You can contact our Advantage Loan advisors toll‐free at 800‐988‐6333, Monday through Friday, 8:00 a.m.–7:30 p.m. (ET) or email advantageloans@kheslc.com anytime if you have additional questions.

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


Advantage Refinance Loans are private loans.

We reserve the right to modify or discontinue loan features or benefits or to discontinue loan programs at any time without notice. Advantage Refinance Loans are owned, managed and serviced by KHESLC, a state‐based non‐profit lender. We do not sell or subcontract our loans. Rates current as of 8/14/18.