Kentucky student loans are resources that allow these students to make up the difference between what the government can provide and what is still needed to pay for a degree.

Have you ever seen the bluegrass of Kentucky or smelled the fresh air of the land? If not, you may have a hard time understanding the magnetic draw that makes high school graduates want to stay within their home state to attend college. However, it also becomes difficult to go to college at all because much of Kentucky is rural, and students must travel or stay on campus in many cases to attend school, making it costly. Kentucky student loans are resources that allow these students to make up the difference between what the government can provide and what is still needed to pay for a degree.

The Kentucky Higher Education Assistance Authority and the Student Loan People work hand in hand to provide information on the available funds for college as well as to actually provide loans and loan management for students. The role of the KHEAA is to education students in the many financial aid options available to them as they enter college while the SLP actually manages the group of federal loans in the FFELP program group, as well as financing an alternative loan known as the SLP Advantage Loan.

When it comes to funding federal loans, it is less expensive to do so through a state-sanctioned organization like the SLP because these entities have access to tax exempt bonds that are held back by the state just for such purposes, meaning that the state saves on the tax and can pass on savings to borrowers through a removal of origination fees and an incentive to pay on time that results in interest rate cuts. The SLP Advantage Loan is a low-cost loan to take up the slack for remaining monies owed after federal funds are applied. It comes in two forms: the Advantage Higher Education Loan is obtained by students attending a traditional college program, while the Advantage Career Education Loan is for non-traditional students who are seeking a professional certification as opposed to a degree and are enrolled in school less than half time. Upon approval after a credit check, Kentucky student loans are disbursed in amounts between $1000 and $25,000.