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The Advantage Student Loans is a product of the nonprofit Kentucky Higher Education Student Loan Corporation. These loans feature fixed rates and borrower-friendly features, including no late fees, default loan recovery, and a 24-month extension if you face financial hardship and unemployment. You can also get an Advantage refinance loan without a degree.
Advantage Student Loans at a glance
- You can refinance without a degree.
- Generous leniency for distressed borrowers.
- The maximum loan amount depends on your credit rating and debt-to-income ratio.
How to Improve Advantage Student Loans
Like other 5-star loans, Advantage Student Loans are not perfect. They can improve by offering additional programs such as:
- Deferred readmission borrowers.
- Bi-weekly student loan payments via autopay.
Before refinancing with Advantage Student Loans
Before choosing a Advantage Student Loans lender, compare student loan refinancing options to make sure you’re getting the best interest rate for you. In addition to interest rates, compare lenders’ repayment options and the flexibility they offer borrowers who are struggling to repay.
If you are not eligible to refinance through Advantage
If the Advantage Refinance Loan denies your refinancing application, the lender will tell you why. Depending on the reason, you may need to consider other lenders or require co-signers.
NerdWallet recommends pre-qualifying with multiple funding providers before applying. This will tell you which lenders you may be entitled to without affecting your credit score.
Student Loan Refinancing Options
Our survey of more than 29 banks, credit unions, and online lenders offering student loans and student loan refinancing includes the top 10 lenders by market share and the top 10 lenders by online search volume, as well as the top 10 lenders serving professional or lenders in non-traditional markets.
We looked at 41 characteristics and data points for each financial institution. Depending on the category, these include bi-weekly payments via autopay, disclosure of minimum credit and income requirements, availability for borrowers in all states, extended grace periods and in-house customer service.
The stars represent a rating from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half star.
Private student loan review
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Undergraduate and graduate students can take advantage of educational loans from the Kentucky Higher Education Student Loan Corporation.
If you’re less than half-time enrolled, you can use the Advantage Student Loans, provided you get into repayment immediately, and for non-graduate programs such as certification programs. This makes these loans a good option if you are a non-traditional student or attend school part-time.
Advantage Educational Loans Private Student Loans at a Glance
- Funding is available if you are registered for less than half the time.
- There is only one repayment period: 10 years.
- The maximum loan amount depends on your credit rating and debt-to-income ratio.
How to Improve Advantage Educational Loans
- Advantage education loans can be enhanced by offering additional programs such as:
- Offers multiple repayment terms.
- Borrowers are allowed to defer payments if they return to school after the grace period.
Parent loan review
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Advantage Parent Loans have the same details – including interest rates and repayment options – as lenders’ undergraduate and graduate loans. But they handle credit forgiveness differently:
for death. Undergraduate and graduate loans are repaid upon the death of the borrower. Parental loans are only repaid when the child benefiting from the loan dies; if the borrower’s parents die, their estate will be responsible for the loan.
In the case of total and permanent disability. Student and graduate loans are repaid when the borrower is totally and permanently disabled. Parental loans are only repaid if the child benefiting from the loan is totally and permanently disabled
To protect themselves, parents considering Advantage Education Loans should consider co-signing an undergraduate loan instead of applying for a parent loan. Advantage Parent Loan is a better option only if parents don’t want their child’s name on the loan.
Advantage Parent Loans Private Student Loans at a Glance
- Funding is available if the student is registered for less than half the time.
- There is only one repayment period: 10 years.
- The maximum loan amount depends on your credit rating and debt-to-income ratio.
How Advantage Parent Loans Improves
- Advantage education loans can be enhanced by offering additional programs such as:
- Offers multiple repayment terms.
- The loan is repaid if the borrower’s parent dies or becomes disabled.
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