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Updated: August 21, 2022

KHESLC Parent Student Loan Review

Advantage Parent Loans

Kentucky Higher Education Student Loan Corporation (KHESLC) logo
Kentucky Higher Education Student Loan Corporation (KHESLC)
Fixed apr
2.84% - 6.23%
Variable apr
Not Available
Repayment terms
10 years, 15 years

Rewards: Autopay Discount

Yearly Loan Limits: 100% Cost of Attendance

Overall Loan Limits: $1,000 (minimum)

Cosigner Terms: Cosigner optional, offers cosigner release after 36 months

The bottom line

Charging below-average costs and offering remarkable repayment policies, Kentucky Higher Education Student Loan Corporation (KHESLC) has one of the best parent loans. That being said, expect some shortcomings when it comes to customer service and don’t expect to have the option of a variable-rate loan.

Pros
  • Offers a full deferment in-school repayment option
  • Offers a graduated repayment plan
  • Offers a partial forbearance option 
Cons
  • Performs a hard credit inquiry, even for a pre-application rate check
  • Only offers two repayment terms, 10 years or 15 years
  • Call center is not available on evenings or weekends

Full review

KHESLC provides one of the most desirable parent loans out there, especially when it comes to repayment. They offer a full deferment in-school repayment option, allowing you to start repaying the loan after the student graduates. Other lenders require payments to begin while the student is still in school. After the student graduates, you can select a graduated repayment plan or level payment plan. If you run into financial trouble, they offer a partial forbearance option, allowing you to lower your monthly payments without letting your loan balance grow out of control. 

 

When it comes to overall costs, their rates are below average and they don’t charge any fees. However, if you’re looking to take advantage of swings in the interest rate market, note that KHESLC only offers fixed-rate loans.

 

The biggest drawback to KHESLC, however, is their customer service. If you have a question, ask it on a weekday during normal business hours, because they don’t have weekend or evening call centers open. If you’re curious about your rate before applying, they’ll perform a hard credit inquiry before giving it to you (something many other lenders do not do).

Kentucky Higher Education Student Loan Corporation (KHESLC) - Advantage Parent Loans

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Other loans that Kentucky Higher Education Student Loan Corporation (KHESLC) offers:

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