How EDvestinU Can Help You Save Thousands on Student Loans

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Refinancing with Laurel Road

Refinancing APRs starting at 1.89%. Checking your rates won’t affect your score.

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If you’re struggling to cover the cost of college this semester, you might be shopping around for private loans. Or, perhaps you’ve already graduated and are looking to refinance your debt with a low-interest loan. Regardless of your situation, EDvestinU offers financial solutions that can help you with your goals.

This EDvestinU review will cover what kind of products the company offers, if you’re eligible for their loans, and how you can apply.

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EDvestinU review

Although there are many student loan companies, EDvestinU is different than other lenders. One of the features that sets them apart is their willingness to lend to international students. Most companies require borrowers to be U.S. citizens or permanent residents.

In addition, EDvestinU is one of a select group of lenders who will work with you to refinance your student loans even if you didn’t graduate.

EDvestinU products

EDvestinU offers a range of products to help you meet your educational goals, including:

  • Private student loans: If you have exhausted federal student loans for school, you might turn to private student loans. EDvestinU offers loans for both undergraduate and graduate school.
  • Student loan refinancing: If you graduated from school and have high-interest student loans, refinancing could help make your loans more manageable. EDvestinU allows you to refinance your debt to get a lower payment or save money over time.

Although federal loans tend to offer lower interest rates and more generous repayment options, EDvestinU offers comprehensive solutions. While you’re in school, EDvestinU allows you to defer your student loan payments until you graduate as long as you’re enrolled at least half-time.

After graduation, if you have trouble affording your payments each month, you can postpone your payments by qualifying for an economic hardship deferment. This deferment is offered in three-month increments, though you can renew for up to one year.

Using EDvestinU online

The EdvestinU website is easy to use and intuitive. When you access the site, you can choose between new student loans and consolidation. If you’re interested in refinancing your student loans, for example, click on the “Consolidation” tab.

In the refinancing section, EDvestinU provides information about their rates and features. To help you through the process, they offer an estimated savings and monthly payment calculator. You can use it to estimate your new monthly payment amount and how much you could save by refinancing before you even apply.

EDvestinU offers both fixed- and variable-rate loans. Variable interest rates tend to be lower than fixed rates, but they can fluctuate over time. Fixed rates tend to be higher than variable interest rates, but they stay the same for the length of your loan.

Decide which is right for you, then select “apply now” in the appropriate section.


The site will prompt you to enter your information, such as your location, university, and cosigner name, if applicable.

By clicking on “Am I Eligible?” at the bottom, you’ll find out if you’re likely to be approved or denied for a loan. If you’re eligible, the site will prompt you to proceed with your application. The whole process takes just minutes to complete.

EDvestinU refinancing

Image via EDvestinU

If you’re approved for a loan, you have 30 days to accept or deny the offer. If you miss the 30-day deadline, you’ll have to resubmit your information and start the process over again.

EDvestinU doesn’t currently offer a mobile app, but their site is mobile-friendly.

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EDvestinU interest rates and fees

As a nonprofit, EDvestinU offers some of the most competitive interest rates on the market for both student loans and refinancing. If you’re interested in refinancing, you can consolidate your debt with an interest rate as low as 3.86%.

The company also offers several different repayment terms you can choose from. If you want to pay off your debt aggressively, you can choose a five-year repayment period. If you need more wiggle room in your budget, opt for a 10- or even 20-year term.

EDvestinU eligibility requirements

For private student loans, EDvestinU requires that you’re a U.S. citizen or permanent resident. However, the company is one of the few lenders out there who will work with international students. To apply for a private loan, international students just need a cosigner who is a U.S. citizen or private resident.

You also must attend a Title-IV college or university at least half-time to qualify, and there’s a minimum income requirement of $30,000. If you don’t earn enough, you will need a cosigner who makes at least that amount.

If you’re looking to refinance your student loans, you must be a U.S. citizen or permanent resident. You have to be at least 18 years old and have either private or federal loans that were used to attend a Title-IV school.

Unlike many other lenders, EDvestinU doesn’t require you to graduate in order to refinance. That can be a huge help for students who left school before getting their degree.

To qualify for EDvestinU refinancing, you must have a loan balance of at least $7,500. The maximum you can refinance is $200,000.

If you currently have under $100,000 in student loans you’d like to refinance, EDvestinU has a minimum income requirement of $30,000. For borrowers with over $100,000 in loans, you must make at least $50,000. If you do not meet that criteria, you could still be eligible for refinancing if you have a cosigner who does.

If you do need to use a cosigner, EDvestinU offers a cosigner release. After 24 months of consecutive and on-time payments, you can remove your cosigner from your account.

See If You’re Eligible

EDvestinU customer service

EDvestinU prides itself on customer service. As a smaller company, they can provide more personalized assistance to customers.

Besides phone and email support, the company also offers in-person assistance at their New Hampshire offices. Before applying, you can meet a loan counselor to help you navigate the process. In addition, you can meet with a counselor once your loans are in repayment to discuss any issues.

More about EDvestinU

Based in New Hampshire, EDvestinU is a national loan program managed by the New Hampshire Higher Education Loan Corporation (NHHELCO), a non-profit organization.

As a non-profit, NHHELCO uses the proceeds from EdvestinU loans to fund initiatives that benefit students, such as scholarships and educational programs. By working with the lender, you’re also able to help other borrowers avoid debt later on.

The company’s mission is to reduce young people’s reliance on student loans and to improve completion of higher education.

EDvestinU contact information

To get more information or to contact EDvestinU with any questions, you can call them at 855-887-5430. You can also use that phone number to schedule an in-person consultation with a loan professional.

If you’d like to connect with EDvestinU on social media, you can follow them on Facebook.

Need a student loan?

Here are our top student loan lenders of 2021!
LenderVariable APREligibility 
1.04% – 11.98%1Undergraduate, Graduate, and Parents

Visit College Ave

1.25% – 11.35%*,2Undergraduate, Graduate, and Parents

Visit SallieMae

1.24% – 11.99%3Undergraduate and Graduate

Visit Discover

1.78% – 11.89%4Undergraduate and Graduate

Visit SoFi

1.05% – 11.44%5Undergraduate and Graduate

Visit Earnest

1.19% – 11.51%6Undergraduate and Graduate

VISIT CITIZENS

2.46% – 12.98%7Undergraduate and Graduate

Visit Ascent

* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.

1 Important Disclosures for College Ave.

CollegeAve Disclosures

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
 
This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. This informational repayment example uses typical loan terms for a first year graduate student borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.10% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $141.66 while in the repayment period, for a total amount of payments of $16,699.21. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 1/27/2021. Variable interest rates may increase after consummation. Lowest advertised rates require selection of full principal and interest payments with the shortest available loan term.


2 Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.

3 Important Disclosures for Discover.

Discover Disclosures

  1. Aggregate loan limits apply.
  2. Students who get at least a 3.0 GPA (or equivalent) qualify for a one-time cash reward on each new Discover undergraduate and graduate student loan. Reward redemption period is limited. Please visit DiscoverStudentLoans.com/Reward for any applicable reward terms and conditions.
  3. Lowest APRs shown for Discover Student Loans are available for the most creditworthy applicants for undergraduate loans, and include an interest-only repayment discount and Auto Debit Reward. The interest rate ranges represent the lowest and highest interest rates offered on Discover student loans, including undergraduate and graduate loans. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable margin percentage. For variable interest rate loans, the 3-Month LIBOR is 0.250% as of January 1, 2021. Discover Student Loans may adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Our lowest APR is only available to customers with the best credit and other factors. Your APR will be determined after you apply. It will be based on your credit history, which repayment option you choose and other factors, including your cosigner’s credit history (if applicable). Learn more about Discover Student Loans interest rates.
  4. Lowest APRs shown for the Discover Private Consolidation Loan are available for the most creditworthy applicants and include a 0.25% interest rate reduction while enrolled in automatic payments.The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable margin percentage. For variable interest rate loans, the 3-Month LIBOR is 0.250% as of January 1, 2021. Discover Student Loans may adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Our lowest APR is only available to customers with the best credit and other factors. Your APR will be determined after you apply. It will be based on your credit history, which repayment option you choose and other factors, including your cosigner’s credit history (if applicable). Visit Discover.com/student-loans/consolidation.html for more information, including up-to-date interest rates and APRs.
Lowest APRs shown for Discover Student Loans are available for the most creditworthy applicants for undergraduate loans, and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments.

4 Important Disclosures for SoFi.

sofiDisclosures

UNDERGRADUATE LOANS: Fixed rates from 4.23% to 11.26% annual percentage rate (“APR”) (with autopay), variable rates from 1.88% to 11.66% APR (with autopay). GRADUATE LOANS: Fixed rates from 4.13% to 11.37% APR (with autopay), variable rates from 1.78% to 11.73% APR (with autopay). MBA AND LAW SCHOOL LOANS: Fixed rates from 4.30% to 11.52% APR (with autopay), variable rates from 1.95% to 11.89% APR (with autopay). PARENT LOANS: Fixed rates from 4.60% to 10.76% APR (with autopay), variable rates from 1.88% to 11.16% APR (with autopay). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin and your APR may increase after origination if the LIBOR increases. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Lowest rates are reserved for the most creditworthy borrowers. If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 11/04/2020. Enrolling in autopay is not required to receive a loan from SoFi. SoFi Lending Corp., licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. NMLS #1121636 (www.nmlsconsumeraccess.org).


5 Important Disclosures for Earnest.

Earnest Disclosures

  1. Rates include 0.25% Auto Pay Discount
     
  2. Explanation of Rates “With Autopay” (APD)
    Rates shown include 0.25% APR discount when client agrees to make monthly principal and interest payments by automatic electronic payment. Use of autopay is not required to receive an Earnest loan.

    Available Terms
    For Cosigned loans – 5, 7, 10, 12, 15 years. 
    Primary Only – 10, 12, 15 years

    In school deferred payment is not available in AL, AZ, CA, FL, MA, MD, MI, ND, NY, PA, and WA).


6 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

Undergraduate Rate Disclosure: Variable interest rates range from 1.19% – 11.51% (1.19% – 10.67% APR). Fixed interest rates range from 3.99% – 11.80% (3.99% – 10.92% APR).

Graduate Rate Disclosure: Variable interest rates range from 1.37% – 11.41% (1.37% – 11.12% APR). Fixed interest rates range from 4.39% – 11.70% (4.39%-11.39% APR).

Business/Law Rate Disclosure: Variable interest rates range from 1.37% – 9.55% (1.37% – 8.83% APR). Fixed interest rates range from 4.13% – 9.84% (4.13% – 9.12% APR).

Medical/Dental Rate Disclosure: Variable interest rates range from 1.37% – 8.35% (1.37% – 8.05% APR). Fixed interest rates range from 4.03% – 8.64% (4.03% – 8.34% APR).

Parent Loan Rate Disclosure: Variable interest rates range from 2.11% – 7.42% (2.11%-7.42% APR). Fixed interest rates range from 4.69% – 7.83% (4.69% – 7.83% APR).

Bar Study Rate Disclosure: Variable interest rates range from 4.47% – 9.61% (4.47% – 9.54% APR). Fixed interest rates range from 7.39% – 12.94% (7.38% – 12.81% APR).

Medical Residency Rate Disclosure: Variable interest rates range from 3.56% – 7.06% (3.56% – 6.78% APR). Fixed interest rates range from 6.99% – 10.49% (6.97% – 10.08% APR).

Variable Rate Disclosure: Variable Rates are based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the
preceding calendar month. As of Feburary 1, 2021, the one-month LIBOR rate is 0.12%. Variable interest rates will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable rate is the greater of 21.00% or Prime Rate plus 9.00%. 

Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer.

Lowest Rate Disclosure: Lowest rates require a 5-year repayment term, immediate repayment, a graduate degree (where applicable), and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Rates are subject to additional terms and conditions, and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.

Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer.  Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.

Eligibility Criteria: Applicants must be a U.S. citizen, permanent resident, or eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For applicants who have not attained the age of majority in their state of residence, a co-signer is required. Citizens Bank reserves the right to modify eligibility criteria at any time. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/Promissory Note, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens Bank participating school.

Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.

Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.


7 Important Disclosures for Ascent.

Ascent Disclosures

Ascent Student Loans are funded by Richland State Bank (RSB), Member FDIC. Loan products December not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions December apply.  For Ascent Terms and Conditions please visit: www.AscentStudentLoans.com/Ts&Cs

Rates are effective as of 12/01/2020 and reflect an automatic payment discount of 0.25% on the lowest offered rate and a 2.00% discount on the highest offered rate.  Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month.  For Ascent rates and repayment examples please visit: www.AscentStudentLoans.com/Rates

1% Cash Back Graduation Reward subject to terms and conditions. Click here for details.