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Kentucky Higher Education Student Loan Corporation (KHESLC) is a private company established by the Kentucky state government to help residents access higher education. In addition to being behind Advantage Education Loan, it also handles repayments for federal and private student loans.
KHESLC has multiple options when it comes to how you can repay your student loans. If you’re making a repayment for the first time, you might need to have your bank account and routing numbers on hand.
Electronic funds transfer (EFT) involves signing up to have repayments automatically deducted from your checking account on the due date. It’s the most hands-off way of repaying your student loans. Plus, federal and Advantage Education Loan holders get 0.25% knocked off their interest rate.
Follow these steps to sign up for EFT:
While EFT is easy to use, keep these factors in mind before you sign up:
KHEPAY is KHESLC’s online repayment portal. With this option, you can schedule a one-time payment for direct withdrawal from your checking or savings account up to six months in advance.
Follow these steps to pay with KHEPAY:
Your repayment will go through the same day if you schedule it before 3 p.m. ET. Otherwise, it’s processed the next business day.
KHEPAY is more flexible than EFT, but you won’t be able to qualify for a rate discount. If you want to make additional repayments on your loan, KHEPAY is the simplest way to go.
You can pay off your loan over the phone by calling 800-693-8220. Have the account and routing numbers for your checking or savings account on hand before you get started.
You can send a repayment by check to one of the following addresses, depending on your loan type and repayment status. Include your account number on the check and mail it at least five to seven business days before it’s due to ensure it gets there on time.
Loan type | Mailing address |
---|---|
| KHESLC Payments PO Box 9001774 Louisville, KY 40290-1774 |
| KHEAA Payments PO Box 4869 Frankfort, KY 40604-4869 |
Prefer paying with plastic? KHESLC allows you to make one-time repayments using your debit card through the Kentucky Interactive website. Kentucky Interactive charges a 2.75% processing fee for each repayment, so you might want to save this option for emergencies.
Follow these steps to make a debit card repayment:
You can pay your loans off early online with KHEPAY, over the phone or by mail. If you make an extra repayment, your loan will automatically go into paid ahead status, which means your next repayment due date will be later.
If you don’t want your loan to go into pay ahead status, you have to specify how you’d like the extra repayment to be applied. If you’re sending a repayment by mail, you need to submit a Special Payment Allocation Worksheet, which you can download on its website.
Otherwise, follow the directions to make a repayment by phone or online with KHEPAY. If paying online, click Schedule a Payment followed by Other Payment. Then enter details on how you’d like your repayment to be applied.
Like with most student loan servicers, you can contact KHESLC by phone, mail, email and fax. It has different departments for different types of requests and loans.
You can send KHESLC a secure email by logging in to your online account.
KHESLC
PO Box 24328
Louisville, KY 40224-0328
Think KHESLC made an error when reporting your loans to one of the three main credit bureaus? Complete a Credit Dispute Form available on its website and send it to the following address:
KHESLC
Attn: Credit Dispute Department
PO Box 24328
Louisville, KY 40224-0328
According to Kentucky state law, you can send a written request to receive copies of any of KHESLC’s public records. This may help if you’re filing a complaint with the Consumer Financial Protection Bureau or another consumer protection organization.
KHESLC Open Records Request
10180 Linn Station Road, Suite C200
Louisville, KY 40223
Borrowers can fax documents and other correspondence to the following numbers:
You can refinance your KHESLC loans by taking out a new loan with a private lender to pay off your current student debt. It’s the only way to switch servicers if you have an Advantage Education Loan — and can potentially get you more favorable rates and terms.
But if you have federal loans and want to take advantage of income-driven repayment plans, forgiveness programs and other benefits, you might want to look into a federal Direct Consolidation Loan first. Consolidating your loans allows them to stay federal while giving you a chance to switch servicers.
Along with servicing federal student loans, KHESLC also handles repayments for Advantage Education loans as well as loans formerly serviced by Georgia Student Finance Authority.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
KHESLC is a small servicer, so relatively few customers have filed complaints against the company. As of February 2019, it only clocked 45 complaints with the Consumer Financial Protection Bureau (CFPB). And only four customers filed complaints with the Better Business Bureau (BBB), which gives it an A+ rating based on factors like time in business and transparency.
Still, there are two issues to watch out for when working with this servicer.
One of the most common complaints about KHESLC is that it reported incorrect information to the three main credit bureaus. Some also noticed that the servicer failed to report details about their account. One borrower complained to the CFPB that they were unable to resolve this issue with the company.
Several borrowers reported problems applying for an alternative repayment plan with KHESLC. At least one borrower who was at risk of default reported having trouble qualifying for more flexible repayments. Another claimed KHESLC attempted to collect on a loan while it was in deferment.
KHESLC is a relatively user-friendly servicer with few complaints compared to other companies. But if you’re one of the few that are unhappy with your experience, you might want to consider consolidating your federal student loans or refinancing with a different student loan provider.
Want to see how KHESLC stacks up to the competition? Read our guide to student loan servicers.
Learn more about KHESLC with these answers to common questions.
You can apply for deferment or forbearance with KHESLC by submitting a form, depending on what type of deferment or forbearance you’re interested in. You can find the forms by going to the KHESLC website and clicking Forms in the left-hand menu.
Check out our guide to putting your student loans on hold to see which option is best for you.
If you have federal loans, you can switch your repayment plan by submitting a form to KHESLC. Otherwise, you’re stuck with the repayment plan you originally chose.
Which form you need to complete depends on what type of student loan repayment plan you’re interested in. You can download it by going to the KHESLC website and clicking Forms in the left-hand menu.
You can, but you’ll have to apply with a written application. You can download the application on the KHESLC website and send it — along with a voided check from that account — to the following address:
KHESLC
PO Box 24328
Louisville, KY 40224-0328
You can also fax your application to 502-329-7077.
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
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