If you’re interested in knowing what’s going on in college planning and preparation, sign up for the monthly Your KHEAA College Connection. We’ll email you a link to the latest edition of this electronic newsletter each month.

You’ll find stories about planning, preparing and paying for college for students of all ages, as well as general education news that you can use. Check out the latest edition to see what it’s like.


Paying for College

Sometimes scholarships, grants and family resources aren't enough to pay for college. Two ways parents can help their children are through a college savings account and parent loans.

Saving for College

One of the best ways to deal with the cost of college is to start saving when your child is young. It works especially well if you can save a certain amount on a regular basis, such as through payroll deduction. But it’s not too late to start saving, even if your child is already in high school. You may not be able to save as much, but every dollar you do save is a dollar that you or your student won’t have to borrow to pay for college.

You need to be realistic about how much you can save. You also need to pick the saving option that will work best for you. The two major types are called 529 plans and Coverdell accounts.

The Kentucky Education Savings Plan Trust (KESPT), also called "KY Saves 529" is the state's official 529 plan.

Private Education Loans

KHEAA and its sister agency, KHESLC, offer Advantage Education Loans for parents who want to help their children with the cost of a higher education. The interest rates are fixed for the life of the loan and much more competitive than most lenders. Unlike Federal PLUS Loans, Advantage Education Loans are available to help students attending college less than half time and students attending graduate and professional schools.