ZuntaFi Student Loan Review: What You Need To Know In 2020

In 2014, the company became involved in the student debt consolidation market and entered into a partnership with Reunion Financial Services Corporation, changing its name to Reunion Student Loan Finance Corporation.

Today, the company is known as ZuntaFi and provides borrowers with access to various student lending products and student debt consolidation.

Why Get A Student Loan From ZuntaFi?

Besides being a well-established lender, ZuntaFi student loans offer flexible payment options, including income-sensitive repayment and graduated payment plans.

Income sensitive repayment plans provide low-income individuals with a monthly payment equal to a percentage of their gross monthly income. Although this will result in an increased debt load, it gives those in this situation access to a student lending product they can afford.

A graduated plan offers interest-only payments for the first two years of the lending product’s term. This may be attractive to individuals who expect their income level to increase over the debt tenure.

What Student Loans Does ZuntaFi Offer?

ZuntaFi has come a long way since its beginnings as a non-profit organization focused on providing federal student loans. Currently, they offer educational lending products for undergraduate and graduate school, medical school, student debt refinancing, and even pilot school.

Private Student Loans

To qualify for a ZuntaFi student loan, one must apply through the iHelp platform. Those wishing to be approved will need to have a minimum of three years of positive credit history and a debt-to-income ratio of 45% or less.

ZuntaFi also offers a cosigner option, which may be useful for those who don’t meet minimum approval requirements.

Fixed-Rate	6.50% - 9.75%
Variable Rate	2.34% - 6.99%
Repayment Term	5, 10, 15, and 20 years
Loan Amount	$1,000 - $100,000
Application Fee	None
Late Payment Fee	$10 or 5% of the past due amount, whichever is smaller
Prepayment Fee	None
Origination Fee	None

Private Graduate Student Loans

ZuntaFi’s graduate school lending products follow the same lending criteria as the undergraduate financing option. The major difference between the two is the maximum loan amount. The company’s graduate school financing can stretch as high as $150,000. However, financing for undergraduates won’t exceed $100,000.

Fixed-Rate	6.50% - 9.75%
Variable Rate	2.34% - 6.99%
Repayment Term	5, 10, 15, and 20 years
Loan Amount	$1,000 - $150,000
Application Fee	None
Late Payment Fee	$10 or 5% of the past due amount, whichever is smaller
Prepayment Fee	None
Origination Fee	None

Student Loan Refinancing Information

Those with a healthy credit score and secure financial position may decide to take advantage of lower interest rates by refinancing their private student loan. ZuntaFi offers fixed and variable student debt refinancing options at competitive rates.

It should be noted that although one doesn’t need to have graduated to refinance their lending product, they’ll still require at least three years of positive credit history to qualify. If you’re looking to refinance your student loan, ZuntaFi may be a quality option due to its large lending amount and variable repayment term options.

Fixed-Rate	3.99% - 5.65%
Variable Rate	2.34% - 6.99%
Repayment Term	5, 8, 12, and 20 years
Loan Amount	$10,000 - $250,000
Application Fee	None
Late Payment Fee	$10 or 5% of the past due amount, whichever is smaller
Prepayment Fee	None
Origination Fee	None

Medical School Private Student Loans

Unlike its undergraduate and graduate lending products, ZuntaFi’s medical school loans are granted on a fixed 15-year payment schedule without flexible payment options. ZuntaFi allows applicants to include a cosigner, so long as this individual has a positive credit report and a minimum annual income of $60,000.

IF borrowers are still in school at least part-time, they’re not required to make any payments towards their debt. Furthermore, all recipients receive a six-month grace period upon graduation, during which they’re not required to make any payments.

Deferment and forbearance options are available in some cases to those who qualify.

Fixed Rate	NA
Variable Rate	Prime + 1.25% - Prime + 4.45%
Repayment Term	15 years
Loan Amount	$2,500 - $350,000
Application Fee	None
Late Payment Fee	$10 or 5% of the past due amount, whichever is smaller
Prepayment Fee	None
Origination Fee	2%

How To Apply For A Student Loan at ZuntaFi?

Step 1: Create an account

The registration process is straightforward. It first requires you to fill out your personal information including full name, email address, Social Security number, and date of birth.

Step 2: Log in

Once all the appropriate information has been entered, ZuntaFi will send a confirmation email, and the account is automatically created. At this point, you can log in through the ZunaFi website and continue with the application process.

Step 3: Enter personal and financial information

Upon logging in, you’ll be prompted to provide further information regarding your financial history, references, and school of study. In addition, you’ll have to submit a credit check.

The type of information you’ll be required to supply depends on whether you’re the borrower or cosigner.

Step 4: Enter the desired loan amount

After all the necessary personal and financial information has been successfully submitted, you’ll be asked to identify your school, enrollment date, program length, and desired loan amount.

ZuntaFi will also want to know the total cost of enrollment for your program of choice and any financial assistance you may be receiving from family or scholarships. The company will use this information as part of its application approval process.

Step 5: Submit application

When all the necessary information has been provided, you can then submit your application and wait for it to be approved.

ZuntaFi’s application process is similar to other competitors and is fairly streamlined and uncomplicated. Should you apply for financing for a school/educational institution that’s not listed, the university will have to contact ZuntaFi directly, which will add to the overall application time.

Conclusion

As we conclude our ZuntaFi review, we can see that the lender offers competitive rates and great payment options compared to its competitors. It also provides cosigner options, limited/no fees for undergraduate/graduate school loans, as well as forbearance and deferment options for those either in school or facing hardship.

The major drawback of ZuntaFi is its approval requirements. Without a cosigner, many undergraduate applicants won’t meet the minimum yearly earnings requirement of $24,000. Furthermore, the lender only operates in 11 states, meaning borrowers who don’t reside in one of these states can’t apply.