How EDvestinU Can Help You Save Thousands on Student Loans

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Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.

Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the financial institution.

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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.

Check Out EDvestinU Now

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 2020!
LenderVariable APREligibility 
1.25% – 9.44%*,1Undergraduate and Graduate

Visit SallieMae

1.24%
11.98%
2
Undergraduate, Graduate, and Parents

Visit College Ave

1.24%
11.37%
3
Undergraduate and Graduate

Visit Discover

1.24%
11.44%
4
Undergraduate, Graduate, and Parents

Visit Earnest

2.73% – 13.01%5Undergraduate and Graduate

Visit Ascent

3.52% – 9.50%6Undergraduate and Graduate

Visit CommonBond

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

2 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.

  1. 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.
     
  2. 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 7/1/2020. Variable interest rates may increase after consummation. Lowest advertised rates require selection of full principal and interest payments with the shortest available loan term.


3 Important Disclosures for Discover.

Discover Disclosures

  1. 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.
  2. View Auto Reward Debit Reward Terms and Conditions at DiscoverStudentLoans.com/AutoDebitReward.
  3. Aggregate loan limits apply.
  4. Lowest APRs shown are available for the most creditworthy applicants 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 0.375% as of July 1, 2020. 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.
  5. Get a variable interest rate from 2.37% APR to 6.14% APR (3-Month LIBOR + 2.00% to 3-Month LIBOR + 5.77%) for either a 10-year or 20-year repayment term. Or lock in a fixed interest rate from 3.99% APR to 7.49% APR for a 10-year repayment term or from 4.24% APR to 7.74% APR for a 20-year repayment term. 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. The margin is based on your credit evaluation at the time of application and does not change. For variable interest rate loans, the 3-Month LIBOR is 0.375% as of July 1, 2020. 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.
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 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).


5 Important Disclosures for Ascent.

Ascent Disclosures

Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans may be funded by Richland State Bank (RSB). Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. Loan products may not be available in certain jurisdictions, and certain restrictions, limitations; and terms and conditions may apply. Ascent is a federally registered trademark of Turnstile Capital Management (TCM) and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.

  1. Competitive variable rates calculated monthly at the time of loan approval based on a margin plus the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent. The current LIBOR is 0.667%, which may adjust monthly. Your interest rate may increase or decrease, based on LIBOR monthly changes. Rates are effective as of 06/01/2020 and reflect an Automatic Payment Discount. 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. (See Automatic Payment Discount Terms & Conditions.)
    1. Undergraduate Loans: Variable rate loans have an Annual Percentage (APR) range between 2.73% – 13.01%. Fixed rate loans have an APR range between 3.84% – 14.50% based on your credit worthiness and your selected program. Rates reflect an Automatic Payment Discount of 0.25% (for Credit-Based Loans) on the lowest offered rate and a 2.00% discount on the highest offered rate (See Undergraduate Loan repayment examples.)
    2. Graduate Loans: Loans have an APR range between 4.11% and 10.78% based on your credit worthiness and your selected program. Rates reflect an Automatic Payment Discount of 0.25%. (See Graduate Loan repayment examples.)
  2. Payments may be deferred. Subject to lender discretion, forbearance and/or deferment options may be available for borrowers who are encountering financial distress.
  3. Making interest only or partial interest payments while in school will not reduce the principal balance of the loan. There are three (3) flexible in-school repayment options that include fully deferred, interest only and $25 minimum repayment. (See Undergraduate Loan repayment examples.)
  4. Flexible repayment plans may be offered up to a fifteen (15) year repayment term for a variable rate loan and ten (10) year repayment term for a fixed rate loan. Students must be enrolled at least half-time at an eligible school. Minimum loan amount is $2,000.
  5. Interest rate reduction of 0.25% for enrollment in automatic debit applies only when the borrower and/or cosigner signs up for automatic payments and the regularly scheduled, current amount due (including full, flat, or interest only payments, as applicable) is successfully deducted from the designated bank account each month. Interest rate reduction(s) will not apply during periods when no payment is due, including periods of In-School, Deferment, Grace or Forbearance. If you have two (2) returned payments for Nonsufficient Funds, we may cancel your automatic debit enrollment and you will lose the 0.25% interest rate reduction. You will then need to re-qualify and re-enroll in automatic debit payments to receive the 0.25% interest rate reduction.
  6. All applicants (individual and cosigner) are required to complete a brief online financial literacy course as part of the application process to be eligible for funding.
  7. Eligibility, loan amount and other loan terms are dependent on several factors, which may include: loan product, other financial aid, creditworthiness, school, program, graduation date, major, cost of attendance and other factors. Aggregate loan limits may apply. The cost of attendance is determined and certified by the educational institution.
  8. The legal age for entering into contracts is eighteen (18) years of age in every state except Alabama where it is nineteen (19) years old, Nebraska where it is nineteen (19) years old (only for wards of the state), and Mississippi and Puerto Rico where it is twenty-one (21) years old.
  9. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details. In order to be eligible for the 1% Cash Back Graduation Reward, borrower must meet the following criteria after graduation:
    • The student borrower has graduated from the degree program that the loan was used to fund.
    • The student borrower may change majors and/or transfer to a different school, but must obtain the same level of degree (e.g. – undergraduate or graduate)
    • The graduation date is more than 90 days and less than five (5) years after the date of the loan’s first disbursement.
    • Any loan that the student has borrowed under the Ascent loan is not more than 30-days delinquent or in a default status as of the graduation date and until any Graduation Reward is paid.
  10. Students can apply to release their cosigner and continue with the loan in only their name after making the first 24 consecutive regularly scheduled full principal and interest payments on-time and meeting the other eligibility criteria to qualify for the loan without a cosigner.

* Application times vary depending on the applicant’s ability to supply the necessary information for submission.


6 Important Disclosures for CommonBond.

CommonBond Disclosures

Offered terms are subject to change and state law restrictions. Loans are offered through CommonBond Lending, LLC (NMLS #1175900).

  1.  Rates are as of July 1, 2019 and include auto-pay discount. All loans are eligible for a 0.25% reduction in interest rate by agreeing to automatic payment withdrawals once in repayment. Variable rates may increase after consummation.

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.