The Student Loan People – Major Overview & Their Loan Provided
The Student Loan People
With a name like The Student Loan People, you know they are going to provide some pretty epic options when it comes to student loans. If you are looking for more information on how The Student Loan People can help you, or you don’t know who they are and are looking for more information on this organization, below will be an indepth overview as well as all the details on the loans that they provide so you can get to know this company and decide whether they are the one you want to go with for getting money for school.
The Student Loan People – Overview
The Student Loan People is a Kentucky based program that was created under the loan lender called the Kentucky General Assembly as a way to provide students with student loans, and not just any student loans, but ones that are low cost loan programs, and with the goal of provding you with additional funds for college when your other sources aren’t cutting it. Among their other services are scholarships and grants as well. When it comes to loans that The Student Loan People offer, there are both ones for students as well as parents to apply for, and ecompass the same guidlines listed below for both studnent and parent applicants.
The Student Loan People currently have one universal loan that you can apply for called the Kentucky Advantage Education Loan, which offer the student 3 different repayment options which are:
Immediate Full Payment
- 2 percent fee (which is a way for them to make a profit)
- an interest rate at a fixed 7.25 percent
- 1/2 a percent off your your plans interest rate if you enroll in automatic monthly payments debit program
Interest Only Repayment
- This Student Loan People option includes everything that the Immediate Repayment includes, but requires that you are enrolled at least at the half time level.
- A fixed interest rate at 7.75 percent
- A fee of 3 percent
- You must be a half-time student
- 1/2 percent off your interest fee if you enroll in auto-debt
Benefits of The Student Loan People Loans
- As you may have noticed, each program has a fixed interest rate, meaning that they will never change.
- The fees that will find with their student loans are lower than almost any other you will find.
- You can take out up to between 1,000 to 75,000 with The Student Loan People Loans.
- The repayment program length is 10 years on any loan above the totoal of 10,000.
- There are no repayment penalties with this loan option.
- The Student Loan People offer many different defferment options to their clients, those being; Economic hardship, public service, unemployment, disability, Summer Bridge, Parent PLUS Borrower, working other and maternity, duty in the armed forces, education related, and while in school.
The Student Loan People – What You Need To Qualify
In order to qualify for the Kentucky Advantage Education Loan, The Student Loan People require that you fit these specifications:
- Be either a Kentucky resident, the school you are applying to doesn’t matter with Kentucky residents, or be a non-Kentucky resident who is looking to go to a school that is Kentucky Based.
- Either be a citizen of the USA or show a proof of residency card.
- You must have a credit score that is considered acceptable, or provide a cosigner that has an acceptable credit score.
- You must be at least 18 years of age.
Now that you know all about the Student Loan People and what they do, you can either choose to use them or not. Based on the information above, it is evident that they provide excellent benefits to their eligible applicants and can heavily assist you when it comes to having enough money for college. If you choose to go with The Student Loan People, you can vist their website at www.kheslc.com.