INvestED is a medium-sized lender that allows current or ex-students to refinance their student loans, even if they didn’t graduate, and also offers private student loans for those who live or go to college in Indiana. It’s a not-for profit organization, which aims to pass those savings on to you through lower interest rates.
Why get a student loan from INvestED?
The lender will be especially appealing to those who didn't graduate, as it’ll still refinance your loan regardless of college completion. This is unusual for a major lender. It also offers student loan forbearance benefits, which is very useful to those who are having a tough year.
What student loans does INvestED offer?
INvestED offers former and current students the ability to refinance an ongoing loan that they have outstanding, or to take out a new private student loan altogether.
Student Loan Refinancing Information
Anyone can choose to refinance their student loan with INvestED, even if they didn't graduate. You’ll just need a minimum credit score of 670 and to have a cosigner.
Fixed rates from:
|Variable rates from:||1.87%|
|Loan repayment terms:||5, 10, 15, 20 (Years)|
|Loan amount:||$5,000 to $250,000|
Private student loans
It’s important to note that while anyone can refinance their student loan, only those who attended college in Indiana can take out a private student loan. If you’re eligible, you should first be confident that you’ll earn your degree. If this describes you then you may want to consider a private loan with INvestED, where you can fund the total cost of your attendance with a term of up to 15 years, a fixed rate starting at 3.83%, and a variable APR beginning at just 1.64%.
More about rates and fees of INvestED’s loan options ( July 2020)
As is always the case, these services, unfortunately, don't come for free. Below are the relevant terms and fees for refinancing and taking out a private student loan.
Fixed rates from:
|Variable rates from:||1.64%|
|Late fee:||5% of unpaid amount due ($15 maximum)|
|Returned payment fee:||$10|