Kentucky Higher Education Assistance Authority
LOUISVILLE, Ky. (June 12, 2006) — Kentuckians repaying student loans should act quickly to take advantage of the great consolidation benefits offered by The Student Loan Peoplesm, Kentucky’s largest provider of federal student loans.
To get these benefits, student loan borrowers must submit a consolidation loan application to The Student Loan People no later than June 30. This will allow borrowers to lock in interest rates that will be 1.84 percentage points lower than if they wait until July, saving borrowers thousands of dollars.
For example, someone paying back $20,000 in student loans over a 10-year period may save about $2,200 by consolidating those loans no later than June 30. The Student Loan People will apply the lower interest rate to applications received online at studentloanpeople.com or kheaa.com and those received by mail as long as the applications are postmarked by June 30.
The Student Loan People are known for their exceptionally low-cost student loans (BestStart) for all students and generous loan forgiveness programs (Best in Class, Best in Care and Best in Law) for certain teachers, nurses and public service attorneys working in Kentucky.
For more information about student loans, call (888) 678-4625 or write The Student Loan People, P.O. Box 24328, Louisville, KY 40224-0328. For more information about Kentucky scholarships and grants, call (800) 928-8926, ext. 7381, or write KHEAA, P.O. Box 798, Frankfort, KY 40602-0798. Visit www.GoHigherKY.org to learn how to plan and prepare for higher education.