Interest rates, student loan terms, minimum borrowing limits

Advantage Education Loan provides the best repayment plans, loan terms and no rigid conditions attached for borrowing limits. Know more about its advantages.

Advantage Education Loan is a private student loan developed to help pay educational costs after you’ve received federal aid. It’s a part of the Kentucky Higher Education Student Loan Corporation, which aims to help Kentucky residents access higher education, though you might be eligible if you live outside of Kentucky. Students can borrow anywhere from $1,000 up to your school-certified cost of attendance, which includes transportation, textbooks, housing, and other school-related expenses.

You’ll have to live in the right state to be eligible. And higher loan amounts come with more rigid credit requirements. Though you have the option of applying with a cosigner to help you qualify to receive student loans. They provide Student loan refinancing options, Private student loans, and Parent loans to parents who intend to help their kids with their educational expenses.

Refinancing through Advantage Education Loan could make all the difference if you’re just starting your career and can’t afford your private student loan payments, thanks to its graduated student loan repayment option. Its student loans interest rates are lower compared to other private lenders.

Reviews of Advantage Education Loan

The Advantage Education Loan is a private education loan provider which provides different types of education loan like student loans, parent loans, and refinancing loans, etc. The Advantage Student Loans provides loans undergraduate, graduate, and professional-level students who need additional funds, they provide a way to help pay for college expenses. Their student loans have low fixed rates from 3.50% to 6.74% APR* on using autopay. They provide 3 repayment terms and you can choose which options suit you better. You can refinance federal loans including the PLUS loans taken by parents. The minimum money you can borrow from the Advantage education loan is $18,000. And just after 36 months of regular payments, if you wish for cosigner release you can apply for the same. Similarly, cosigner release is provided for death and permanent disability.

Eligibility criteria for Advantage Education Loan

The Eligibility Criteria is the same as many private lenders use but with slight changes and with fixed interest rates and debt to income ratio

Why choose Advantage Education Loan

Competitive rates, especially if you live in Kentucky’s APRs start only slightly higher than what you’d get with federal loans and have the potential to even be lower if you sign up for autopay

Less than half the time Federal funds won’t cover the cost of one or two courses, but Advantage Education Loan will

To cover unpaid costs from last semester as long as it ended less than 60 days ago and you’re enrolled for another term

No prepayment, application, or any penalties fees are charged for refinancing with them fees Like very few other lenders they do not charge late fees

You can borrow as much loan amount as needed as there is no restriction like high salary and excellent credit eligibility to satisfy

Why you should not choose Advantage Education Loan

Limited eligibility information – Eligibility is on a case-by-case basis. It’s difficult to tell if you’ll qualify without applying, which involves a hard credit check that can temporarily hurt your credit score

Repayment options of Advantage Education Loan

Advantage Education Loan offers three different types of repayment options while you’re in school. Having a good credit school or finding a job immediately after graduation is not everybody’s cup of tea. Therefore Advantage Education Loan provides grace periods and different types of repayment options so that you can make choices more flexible for your financial standings. During economic hardship or military deployment, Advantage Education Loan also offers forbearance when your repayments will be suspended. While forbearance might help you out of a pinch, it can increase your debt in the long run. As the Advantage Education Loan capitalizes your interest rates once you start your full repayments. Below is a list of repayment options provided for you to make flexible choices.