How You Can Support Your Community With a Student Loan From iHelp

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Refinancing with Earnest

Refinancing rates from 2.54% APR. Checking your rates won’t affect your credit score.

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When it comes to taking out student loans, there are plenty of banks eager to lend to you. But student loan program iHelp is one of the few services that connects you with community banks.

Unlike big banks, community banks reinvest money back into the towns they serve. When you support a small bank, you’re also supporting local families, jobs, and small businesses. Plus, community banks factor in more than just your credit score when they consider you for a loan. They look at your individual circumstances and make “relationship banking” a priority.

If you’re looking to borrow or refinance your student loans, check out this iHelp review to see if it’s right for you.

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iHelp review: For people who prefer community banks

iHelp is an online service that connects borrowers with student loans from community banks. Through iHelp, you can apply for a private student loan or refinance your existing private and federal student loans.

It’s easy to apply for a loan through iHelp. You can complete the entire process online, plus you can check right away whether you meet income requirements. If you don’t, you’ll need to apply with a cosigner.

iHelp also shows you upfront what your interest rate on a private student loan will be. Depending on your credit, you could get one of four possible interest rates. Instead of waiting weeks, you’ll have a sense of your interest rate before you even apply.

Refinanced student loans, on the other hand, work a little differently. If you apply for student loan refinancing, you could get a range of interest rates depending on your credit score. The stronger your credit history, the lower rate you’ll get.

Note that most interest rates you’ll find through the iHelp program are not the most competitive in the student loan lending space. Because each loan comes from a community bank, it won’t necessarily have the lowest rate.

That being said, community banks offer perks like flexible repayment plans and great customer service. Plus, they’re especially transparent when it comes to eligibility requirements, interest rates, and fee structures.

The iHelp program opens the door for student loan borrowers, but iHelp is not actually a lender or loan servicer. Instead, it’s a service brought to you by the Independent Community Bankers of America and the Student Loan Finance Corporation (SLFC).

iHelp manages the application process and connects you with local banks. After you choose a loan, a community bank provides funds. Finally, the SLFC will service the loan and manage your repayment plan.

iHelp products

iHelp started as a marketplace for private student loans before it later introduced its iHelp student loan refinance program. At first, only borrowers in certain states could borrow through the iHelp platform. Today, the program operates in all 50 states and the District of Columbia.

Private iHelp student loans

You can take out private loans through the iHelp program starting at $1,000 (or $3,000 if you’re a student in Georgia). iHelp also sets a student debt limit of $100,000 for undergrads and $150,000 for grad students. This includes all your student loan debt, not just your iHelp student loans. For example, if you already have $70,000 in student loans as an undergrad, you won’t be able to take out more than $30,000 through iHelp.

Most undergrads will have to apply with a cosigner, as iHelp requires at least three years of positive credit history. Plus, all its student loans are school-certified, so your college will need to review and approve the loan amount. Before applying, make sure your college or university falls on the list of iHelp’s eligible schools.

Refinanced iHelp student loans

iHelp also connects college graduates with their “consolidation loans” (i.e., refinanced loans). When you refinance your student loans, you combine some or all of your existing student loans into one new loan with different terms.

If you have strong enough credentials (or apply with a cosigner who does), you could get a much lower interest rate than what you have now. Both federal and private student loans are eligible for refinancing. Note that if you refinance federal loans, you lose access to federal programs such as income-driven repayment.

That being said, iHelp offers flexible repayment options for refinanced loans. Its graduated repayment plan lets you make interest-only payments for a set amount of time. You might also be able to temporarily pause your payments by putting your loans into forbearance.

To refinance your student loans through iHelp, you must have graduated from an eligible school. Depending on your education level, you can refinance up to $150,000 (undergrad) or $250,000 (grad). For terms, you can choose a 10-year fixed rate, 15-year fixed rate, or 20-year variable rate.

To be eligible for the iHelp student loan refinance program, your debt-to-income (DTI) ratio cannot exceed 45 percent. If you’re not sure where your DTI falls, use our debt-to-income calculator to find out.

Using the iHelp online platform

iHelp’s online platform won’t blow you away with its design, but it is relatively easy to use. You can check your rates in under a minute with iHelp’s instant preapproval process. All you have to do is provide a few basic pieces of information.

Applying for a private student loan

Here’s what the preapproval form looks like for borrowers who want to take out a private student loan. If you don’t meet the eligibility requirements, you’ll need a cosigner who does.

ihelp student loans

Image via iHelp

After filling out the above form, iHelp will run a soft credit check to see if you qualify. This soft credit inquiry won’t affect your credit score. If you pre-qualify, your next step is to submit a full application with your or your cosigner’s information.

After you finish the application, iHelp will send a request to your college to certify the loan amount. Once it’s approved, the funds will be sent directly to your school.

Since these are private student loans, interest starts accruing from the date of disbursement. If you can afford to, you might benefit from paying off the interest while you’re still a student. If you wait until the grace period ends, you’ll have a lot more interest to pay off.

Applying for student loan refinancing

As with a private student loan, you can go through an instant pre-application process for a refinanced student loan. Here’s what the form looks like.

ihelp student loan refinance

Image via iHelp

After you submit the form through iHelp, you can review loan offers. If you find one you like, select it and move on to the full application. You’ll need to enter your:

  • Personal information
  • Employment information
  • Two personal references
  • List of student loans for consolidation

In terms of documents, you’ll provide proof of employment, such as pay stubs or a job offer letter. You’ll also upload detailed loan statements for all the loans you wish to refinance.

After submitting your application, keep paying your current student loans until you have approval.

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iHelp interest rates and fees

On a private student loan, you could qualify for one of four interest rates, depending on your credit score. When it comes to a refinanced loan, interest rates vary depending on your (or your cosigner’s) creditworthiness. After you apply, iHelp looks at factors such as your income, credit score, and history of debt repayment to assign an interest rate.

Private student loan rates

For private students loans, iHelp relies on the London Interbank Offered Rate (LIBOR). The LIBOR is a worldwide benchmark that banks use for certain loan types. All of iHelp’s private student loans have variable rates, so you rate could fluctuate along with the LIBOR.

Depending on your profile, you’ll get one of the following annual percentage rates:

  • LIBOR + 2.50% (3.53% APR)
  • LIBOR + 4.50% (5.41% APR)
  • LIBOR + 5.75% (6.54% APR)
  • LIBOR + 8.50% (8.98% APR)

There are no origination or repayment fees on private student loans you take out through iHelp.

Student loan refinancing rates

For refinanced student loans, you have a choice of three loan repayment terms: 10, 15, or 20 years. Here are the options and interest rate ranges for each, according to the iHelp website.

  • 10-year fixed with rates that range from 4.75% to 8.00%
  • 15-year fixed with rates that range from 5.50% to 9.00%
  • 20-year variable with rates that range from LIBOR + 2.50% to LIBOR + 8.50%

As with private student loans, refinanced loans have no supplemental fees.

iHelp eligibility requirements

Unlike many other lending marketplaces, iHelp is very transparent about its eligibility requirements. It tells you exactly what income you or your cosigner need to apply.

Rules for private student loans

Here are the eligibility requirements for taking out a private student loan with one of iHelp’s partner community banks. You must:

  • Be a U.S. citizen or permanent resident
  • Be enrolled at least half-time in an eligible school
  • Meet your state’s legal age requirement for borrowing
  • Have at least three years of positive credit history
  • Meet other credit requirements, including no bankruptcy for the past seven years, no open collections in the past two years, and no history of student loan default
  • Have an annual income of $18,000 or greater for the past two years

Note that if you don’t meet the income or credit requirements, you can apply with a cosigner who does.

Requirements for refinanced student loans

If you wish to refinance your student debt, you’ll need to:

  • Be a U.S. citizen or permanent resident
  • Have graduated from an eligible school
  • Meet the legal age requirements of your state
  • Have at least two years of positive credit history and meet other credit expectations
  • Have an annual income of at least $24,000 for the past two years
  • Have a debt-to-income ratio lower than 45 percent

You’ll notice the income requirement is $6,000 higher than the one for taking out a loan.

More about iHelp

iHelp is the online program that connects you with community banks. It manages your application and checks your qualifications, but your actual loan will come from a community bank. The Student Loan Finance Corporation (SLFC) will service your repayment plan.

SLFC has been disbursing and servicing student loans for over 30 years. The company, along with all its partner banks, has a reputation for attentive customer service. This kind of support is one reason many borrowers prefer community banks over national ones.

Learn More

iHelp contact info

Have questions that weren’t answered in this iHelp review? Head to the iHelp website to live chat with a customer support representative or send a direct message. You can also call 800-645-7404 or email gethelp@ihelploan.com.

Learn more about student loans and college options on the iHelp blog and learn about company developments on its Facebook and Twitter pages.

Need a student loan?

Here are our top student loan lenders of 2019!
LenderVariable APREligibility 
1 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. Ascent rates are effective as of 03/01/2019 and include a 0.25% discount applied when a borrower in repayment elects automatic debit payments via their personal checking account. Competitive rates calculated monthly at the time of loan approval.
    Ascent Tuition Cosigned Loan: Variable rate loans are based on a margin between 2.00% and 11.00% plus the 1-Month London Interbank Offered Rate (LIBOR), rounded to the nearest 1/100th of a percent. The current LIBOR is 2.481%, which may adjust monthly. Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an APR range between 4.23% – 13.23%. Fixed rate loans have an APR range between 5.21% – 14.28%. For Ascent Tuition loan current rates and repayment examples visit www.AscentTuition.com/APR.
    Ascent Independent Non-Cosigned Loan: Variable rate loans are based on a margin between 4.00% and 12.50% plus the 1-Month London Interbank Offered Rate (LIBOR), rounded to the nearest 1/100th of a percent. The current LIBOR is 2.481%, which may adjust monthly. Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an APR range between 5.87% – 13.15%. Fixed rate loans have an APR range between 6.80% – 13.55%. For Ascent Independent non-cosigned loan current rates and repayment examples visit www.AscentIndependent.com/APR.
  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.
  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 applicants ability to supply the necessary information for submission.


2 Important Disclosures for CollegeAve.

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. All rates shown include the auto-pay 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 an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7% variable Annual Percentage Rate (“APR”): 96 monthly payments of $179.28 while in the repayment period, for a total amount of payments of $17,211.20. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
  3. As certified by your school and less any other financial aid you might receive. Minimum $1,000.

Information advertised valid as of 2/1/2019. Variable interest rates may increase after consummation.


3 Important Disclosures for Discover.

Discover Disclosures

  1. At least a 3.0 GPA (or equivalent) qualifies for a one-time cash reward of 1% of the loan amount of 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 Terms and Conditions at DiscoverStudentLoans.com/AutoDebitReward.

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

5 Important Disclosures for SunTrust.

SunTrust Disclosures

Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. To view and compare the available features of SunTrust private student loans, visit https://www.suntrust.com/loans/student-loans/private.

Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue this loan program without notice. Availability of all loan programs is subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.

SunTrust Bank, Member FDIC. ©2019 SunTrust Banks, Inc. SUNTRUST, the SunTrust logo and Custom Choice Loan are trademarks of SunTrust Banks, Inc. All rights reserved.

  1. Interest rates and APRs (Annual Percentage Rates) depend upon (a) the student’s and cosigner’s (if applicable) credit histories, (b) the repayment option and repayment term selected, (c) the requested loan amount and (d) other information provided on the online loan application. If approved, applicants will be notified of the rate applicable to your loan. Rates and terms effective for applications received on or after 3/1/2019. The current variable APRs for the program range from 4.251% APR to 13.250% APR and the current fixed APRs for the program range from 5.351% APR to 14.051% APR (the low APRs within these ranges assume a 7-year $10,000 loan, with two disbursements and no deferment; the high APRs within these ranges assume a 15-year $10,000 loan with two disbursements). The variable interest rate for each calendar month is calculated by adding the current One-month LIBOR index to your margin. LIBOR stands for London Interbank Offered Rate. The One-month LIBOR is published in the Money Rates section of The Wall Street Journal (Eastern Edition). The One-month LIBOR index is captured on the 25th day of the immediately preceding calendar month (or if the 25th is not a business day, the next business day thereafter), and is rounded up to the nearest 1/8th of one percent. The current One-month LIBOR index is 2.500% on 3/1/2019. The variable interest rate will increase or decrease if the One-month LIBOR index changes. The fixed rate assigned to a loan will never change except as required by law or if you request and qualify for the auto pay discount.
  2. Any applicant who applies for a loan the month of, the month prior to, or the month after the student’s graduation date, as stated on the application or certified by the school, will only be offered the Immediate Repayment option. The student must be enrolled at least half-time to be eligible for the partial interest, fully deferred and interest only repayment options unless the loan is being used for a past due balance and the student is out of school. With the Full Deferment option, payments may be deferred while the student is enrolled at least half-time at an approved school and during the six month grace period after graduation or dropping below half-time status, but the total initial deferment period, including the grace period, may not exceed 66 months from the first disbursement date. The Partial Interest Repayment option (paying $25 per month during in-school deferment) is only available on loans of $5,000 or more. For payment examples, see footnote 7. With the Immediate Repayment option, the first payment of principal and interest will be due approximately 30-60 calendar days after the final disbursement date and the minimum monthly payment is $50.00. There are no prepayment penalties.
  3. The 15-year term and Partial Interest Repayment option (paying $25 per month during in-school deferment) are only available for loan amounts of $5,000 or more. Making interest only or partial interest payments while in school deferment (including the grace period) will not reduce the principal balance of the loan. Payment examples within this footnote assume a 45-month deferment period, a six-month grace period before entering repayment and the Partial Interest Repayment option. 7-year term: $10,000 loan disbursed over two transactions with a 7-year repayment term (84 months) and 8.468% APR would result in a monthly principal and interest payment of $199.90. 10-year term: $10,000 loan disbursed over two transactions with a 10-year repayment term (120 months) and 8.938% APR would result in a monthly principal and interest payment of $162.92. 15-year term: $10,000 loan disbursed over two transactions with a 15-year repayment term (180 months) and 9.423% APR would result in a monthly principal and interest payment of $136.90.
  4. The 2% principal reduction is based on the total dollar amount of all disbursements made, excluding any amounts that are reduced, cancelled, or returned. To receive this principal reduction, it must be requested from the servicer, the student borrower must have earned a bachelor’s degree or higher and proof of such graduation (e.g. copy of diploma, final transcript or letter on school letterhead) must be provided to the servicer. This reward is available once during the life of the loan, regardless of whether the student receives more than one degree.
  5. Earn an interest rate reduction for making automatic payments of principal and interest from a bank account (“auto pay discount”). Earn a 0.25% interest rate reduction when you auto pay from any bank account and an extra 0.25% interest rate reduction when you auto pay from a SunTrust Bank checking, savings, or money market account. The auto pay discount will continue until (1) automatic deduction of payments is stopped (including during any deferment or forbearance) or (2) three automatic deductions are returned for insufficient funds during the life of the loan. The extra 0.25% interest rate reduction when you auto pay from a SunTrust Bank account will be applied after the first automatic payment is successfully deducted and will be removed for the reasons stated above. In the event the auto pay discount is removed, the loan will accrue interest at the rate stated in your Credit Agreement. The auto pay discount is not available when payments are deferred or when the loan is in forbearance, even if payments are being made.
  6. A cosigner may be released from the loan upon request to the servicer provided that the student borrower is a U.S. citizen or permanent resident alien, has met credit criteria and met either one of the following payment conditions: (a) the first 36 consecutive monthly principal and interest payments have been made on-time (received by the servicer within 10 calendar days after their due date) or (b) the loan has not had any late payments and has been prepaid prior to the end of the first 36 months of scheduled principal and interest payments in an amount equal to the first 36 months of scheduled principal and interest payments (based on the monthly payment amount in effect when you make the most recent payment). As an example, if you have made 30 months of consecutive on-time payments, and then, based on the monthly payment amount in effect on the due date of your 31st consecutive monthly payment, you pay a lump sum equal to 6 months of payments, you will have satisfied the payment condition. Cosigner release may not be available if a loan is in forbearance.
  7. If the student dies after any part of the loan has been disbursed, and the loan has not been charged off due to non-payment or bankruptcy, then the outstanding balance will be forgiven if the servicer is informed of the student’s death and receives acceptable proof of death. If the student becomes totally and permanently disabled after any part of the loan has been disbursed and the loan has not been charged off due to non-payment or bankruptcy, the loan will be forgiven upon the servicer’s receipt and approval of a completed discharge application. If the student borrower dies or becomes totally and permanently disabled prior to the full disbursement of the loan, and the loan is forgiven, all future disbursements will be cancelled. Loan forgiveness for student death or disability is available at any point throughout the life of the loan.

6 Important Disclosures for LendKey.

LendKey Disclosures

Additional terms and conditions apply. For more details see LendKey


7 Important Disclosures for CommonBond.

CommonBond Disclosures

A government loan is made according to rules set by the U.S. Department of Education. Government loans have fixed interest rates, meaning that the interest rate on a government loan will never go up or down.

Government loans also permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled.

Depending on what type of government loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active-duty service member and you obtained your government loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan.
If you are unable to pay your government loan, the government can refer your loan to a collection agency or sue you for the unpaid amount. In addition, the government has special powers to collect the loan, such as taking your tax refund and applying it to your loan balance.

A private student loan is not a government loan and is not regulated by the Department of Education. A private student loan is instead regulated like other consumer loans under both state and federal law and by the terms of the promissory note with your lender.
If you refinance your government loan, your new lender will use the proceeds of your new loan to pay off your government loan. Private student loan lenders do not have to honor any of the benefits that apply to government loans. Because your government loan will be gone after refinancing, you will lose any benefits that apply to that loan. If you are an active-duty service member, your new loan will not be eligible for service member benefits. Most importantly, once you refinance your government loan, you will not able to reinstate your government loan if you become dissatisfied with the terms of your private student loan.

If your private student loan has a fixed interest rate, then that rate will never go up or down. If your private student loan has a variable interest rate, then that rate will vary depending on an index rate disclosed in your application. If the interest rate on the new private student loan is less than the interest rate on your government loans, your payments will be less if you refinance.
If you are a borrower with a secure job, emergency savings, strong credit and are unlikely to need any of the options available to distressed borrowers of government loans, a refinance of your government loans into a private student loan may be attractive to you. You should consider the costs and benefits of refinancing carefully before you refinance.

If you don’t pay a private student loan as agreed, the lender can refer your loan to a collection agency or sue you for the unpaid amount.

Remember also that like government loans, most private loans cannot be discharged if you file bankruptcy unless you can demonstrate that repayment of the loan would cause you an undue hardship. In most bankruptcy courts, proving undue hardship is very difficult for most borrowers.


8 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Undergraduate Rate Disclosure: Variable rate, 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 March 1, 2019, the one-month LIBOR rate is 2.48%. Variable interest rates range from 4.45%-12.42% (4.45%-12.32% APR) and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.74%-12.19% (5.74% – 12.09% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school 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. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan.
  2. Graduate Rate Disclosure: Variable rate, 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 March 1, 2019, the one-month LIBOR rate is 2.48%. Variable interest rates range from 4.45% – 12.18% (4.45% – 11.82% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.74% – 11.95% (5.74% – 11.65% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school 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. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. You will be presented with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan.
  3. Citizens One Student Loan Eligibility: Borrowers must be enrolled at least half-time in a degree-granting program at an eligible institution. Borrowers must be a U.S. citizen or permanent resident or an international borrower/eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For borrowers who have not attained the age of majority in their state of residence, a co-signer is required. Citizens One reserves the right to modify eligibility criteria at anytime. Interest rate ranges subject to change. Citizens One Student Loans private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens One Student Loans-participating school. Please Note: International Students are not eligible for the multi-year approval feature.
  4. Co-signer Release: Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest. For the purpose of the application for co-signer release, on-time payments are defined as payments received within 15 days of the due date. Interest only payments do not qualify. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release. Borrowers must complete an application for release and provide income verification documents as part of the review. Borrowers who use deferment or forbearance will need to make 36 consecutive on-time payments after reentering repayment to qualify for release. The borrower applying for co-signer release must be a U.S. citizen or permanent resident. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received. Terms and conditions apply. Borrowers whose loans were funded prior to reaching the age of majority may not be eligible for co-signer release. Note: co-signer release is not available on the Student Loan for Parents or Education Refinance Loan for Parents.
4.23% – 13.23%1Undergraduate and Graduate

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4.20%
11.44%
2
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4.84%
13.49%
3
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4.50% – 10.11%*,4Undergraduate and Graduate

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4.25% – 13.25%5Undergraduate and Graduate

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3.95%
9.81%
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4.45%
12.42%
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Undergraduate, Graduate, and Parents

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