CERTIFICATE LOANS

RISLA WITH YOU FOR THE JOURNEY.

For degree granting, title IV eligible public or non-profit institutions of higher education.

 

APPLY NOW
PEACE OF MIND
PEACE OF MIND

A convenient multi-year solution for bridging the financial gap.

RATE DISCOUNT
RATE DISCOUNT

0.25% Interest rate reduction when you make automatic monthly payments.

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NO UP-FRONT FEES

No application, origination, or upfront fees of any kind.

BORROWER PROTECTIONS
BORROWER PROTECTIONS

When things don't go as planned, RISLA has your back.

EDUCATION LOANS FOR
CERTIFICATE PROGRAMS
Student Lending Made Easy.

Our goal isn’t to make a large profit at the borrower’s expense. RISLA’s non-profit education loan programs help students borrow at an affordable simple interest rate (not compounding rates like credit card debt). RISLA loans are available to students in all 50 states and Washington DC.

Your Future is our Future

RISLA cares about your success. In fact, we believe building the skills and competencies of American workers is essential to ensuring the competitiveness of business in the global economy. That’s why RISLA offers our low fixed rate education loans to eligible certificate program students.

FEDERAL UPDATE

IMPORTANT INFORMATION FOR FEDERAL STUDENT LOANS

As a State-based, non-profit private lender, RISLA loans are not eligible for the recently announced federal student loan forgiveness or updated COVID-19 loan payment pause program.  To learn more about the Biden Administration's federal student loan forgiveness or COVID-19 student loan payment pause program please click on the links below.

STUDENT DEBT RELIEF PLAN
ONE-TIME DEBT RELIEF
PAUSE PAYMENT EXTENDED
INCOME DRIVEN ACCOUNT ADJUSTMENT
PROTECT YOURSELF FROM SCAMS
UPDATES TO FEDERAL STUDENT LOAN FORGIVENESS
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RISLA EDUCATION LOANS
START YOUR APPLICATION TODAY.
APPLY NOW

NATIONAL RECOGNITION

Forbes Advisor ranked RISLA as having one of the best education loan programs in the country. Recognizing that for decades, RISLA’s fixed rate education loan programs are among the most affordable of any in the nation.

EDUCATION LOAN OPTIONS

2022 - 2023 ACADEMIC YEAR
IMMEDIATE REPAY
STUDENT & COSIGNER
INTEREST RATE
FIXED INTEREST RATE2
WITH AUTO-PAY
4.99%  
WITH RI ADVANTAGE3
5.99% 
WITHOUT RI ADVANTAGE
APR
APR4
WITH AUTO-PAY
4.99%  
WITH RI ADVANTAGE
5.99% 
WITHOUT RI ADVANTAGE
UP-FRONT FEES
UP-FRONT FEES
NONE
STANDARD REPAY TERM
STANDARD REPAY TERM
120 MONTHS
ESTIMATED MONTHLY PAYMENT
ESTIMATED MONTHLY PAYMENT
$107 WITH RI ADVANTAGE
$112 WITHOUT RI ADVANTAGE
PER $10K BORROWED
REPAYMENT START
REPAYMENT START
15 DAYS
AFTER FINAL DISBURSEMENT
COSIGNER RELEASE
COSIGNER RELEASE5
YES
ELIGIBLE FOR RELEASE AFTER ENTERING REPAYMENT.
THE FIRST 24 MONTHLY PAYMENTS NEED TO BE MADE CONSECUTIVELY AND ON-TIME. 
ADVANTAGES
ADVANTAGES
SHORTER TERM, LOWER INTEREST RATE
DISADVANTAGES
DISADVANTAGES
PAYMENT REQUIRED WHILE STUDENT  IS ATTENDING SCHOOL

 

DEFERRED REPAY1
STUDENT & COSIGNER 
FIXED INTEREST RATE
FIXED INTEREST RATE
WITH AUTO-PAY
6.74%
WITH RI ADVANTAGE
6.94% 
WITHOUT RI ADVANTAGE
APR
APR
WITH AUTO-PAY
6.49%
WITH RI ADVANTAGE
6.67% 
WITHOUT RI ADVANTAGE
UP-FRONT FEES
UP-FRONT FEES
NONE
STANDARD REPAY TERM
STANDARD REPAY TERM
180 MONTHS
ESTIMATED MONTHLY PAYMENT
ESTIMATED MONTHLY PAYMENT
$114 WITH RI ADVANTAGE
$116 WITHOUT RI ADVANTAGE
PER $10K BORROWED
REPAYMENT START
REPAYMENT START
6 MONTHS
AFTER STUDENT LEAVES SCHOOL
COSIGNER RELEASE
COSIGNER RELEASE
YES
ELIGIBLE FOR RELEASE AFTER ENTERING REPAYMENT.
THE FIRST 24 MONTHLY PAYMENTS NEED TO BE MADE CONSECUTIVELY AND ON-TIME. 
ADVANTAGES
ADVANTAGES
NO PAYMENT REQUIRED WHILE IN SCHOOL
DISADVANTAGES
DISADVANTAGES
HIGHER OVERALL COAST DUE TO TERM LENGTH

 

PARENTS
PARENT ONLY
FIXED INTEREST RATE
FIXED INTEREST RATE
WITH AUTO-PAY
6.34%
RI ADVANTAGE NOT APPLICABLE

 

 

APR
APR
WITH AUTO-PAY
6.34%
RI ADVANTAGE NOT APPLICABLE

 

 

UP-FRONT FEES
UP-FRONT FEES
NONE
STANDARD REPAY TERM
STANDARD REPAY TERM
120 MONTHS
ESTIMATED MONTHLY PAYMENT
ESTIMATED MONTHLY PAYMENT
$114
RI ADVANTAGE NOT APPLICABLE
PER $10K BORROWED
REPAYMENT START
REPAYMENT START
15 DAYS
AFTER FINAL DISBURSEMENT
COSIGNER RELEASE
COSIGNER RELEASE
NO
THIS IS ONLY AVAILABLE ON STUDENT LOANS

 

 

 

ADVANTAGES
ADVANTAGES
STUDENT IS NOT OBLIGATED ON THE LOAN
DISADVANTAGES
DISADVANTAGES
HIGHER INTEREST THAN FIXED RATE IMMEDIATE REPAY OPTION WITH STUDENT AS THE PRIMARY BORROWER
Student Loan Limits & Eligibility

LOAN LIMITS

$1,500 - $45,000 per year, This can not exceed the total Cost of Attendance (COA) minus other financial aid received.

  • Deferred and immediate repayment options.

  • No prepayment penalties.

  • Interest you pay on this loan may be tax deductible. Consult your tax advisor.

LOAN ELIGIBILITY

All RISLA Loans are credit-based with additional eligibility requirements, such as a minimum income requirement of $40,000, debt-to-income, and liquidity requirements and others.

  • Attend a Title IV Degree Granting School.

  • Eligible Public or Non-Profit Institution of Higher Education.

  • Available to Non-Matriculating Students.

  • Student must be a US citizen or permanent resident.

WE GOT YOU COVERED.

RISLA has programs to assist when times get tough for borrowers with options for a temporary pause, monthly payment restructure or forgiveness due to unfortunate events.

HOW TO APPLY

The easiest and fastest way to apply  for a Certificate Loan.
APPLY NOW
NUMBER 1
APPLY ONLINE
Quick

Your application can be completed online. It will approximately take 5-10 minutes involving the following:

  • Credit Report Inquiry
  • Application can not be processed if a freeze is active on your credit file
  • Note:  We have to pull your credit report for the full application.
NUMBER 2
UPLOAD DOCUMENTS
Safe

Once approved, you can upload supporting documentation through our secure portal using a computer or mobile device, including:

  • Valid Identification
  • Social Security Number
  • Employment & Income Verification
  • Bank Account & Asset Information
NUMBER 3
E-SIGN LOAN
Secure

Instructions will be sent to your email address. In order to complete your loan application process, you must confirm the following:

  • Received Confirmation Email
  • Accept Your Loan
  • Self-Certify
  • E-Signature to complete loan application
  • Congratulations! You Did It!

E-GUIDES

Learn more about our products and services with our educational guides to walk you through preparing, planning, and paying for college.

RISLA's online e-guides are free and easy to download.

E-BROCHURES

We are here to help every step of the way.  Programs for Undergrads, Graduate, Certificate students and more.  Download one of our e-brochures for an overview of how we can help.

RISLA's online e-brochures are free and easy to download.

COLLEGE SAVINGS CALCULATORS

Crunch the numbers with one of our helpful calculators to assist with estimates for the important decisions to be made on how you will pay for college.

Free and easy to use.  Know before you owe!

HAVE A QUESTION?

You are not alone. Many students and families have questions when preparing for college. We are here help answer those questions.

KEEP UP WITH
RISLA NEWS!
Learn more on how to plan, prepare, and pay for college.

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Excellent Organization

Excellent communication each step of the way. Phone calls answered by a friendly, real person with real information and assistance. Seamless, easy-to-use, efficient application process. Great interest rates. Zero complaints or concerns. Would do business with RISLA again in a heartbeat.

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M.C.
RISLA Customer
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Simple and Clear

The Process was extremely simple and straightforward. The loan details are clear and easy to understand. There were no hidden fees or surprises. We will continue to use RISLA for our future education loan needs.

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Michael N.
RISLA Customer
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Easy & Quick

Very simple, easy to fill out questionnaire. Also very quick from application to disbursement. Percentages are LOWER than federal financial aid! Recommend without reservations.

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John K.
RISLA Customer
RISLA PRODUCTS & SERVICES
COLLEGE PLANNING CENTER

Students and families can be overwhelmed with planning and how to pay for college.  We have experienced counselors that offer one on one assistance helping families understand all their options start to finish.

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EDUCATION LOANS

We have been offering low cost, fix rate education loans for almost 30 years.  Helping students and families borrower responsibly to help achieve their higher education dreams.

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REFINANCE

Refinancing may help you simplify and save when repaying student loans.  Combining outstanding balances, and securing a low interest rate with RISLA may reduce your overall repayment amount and possibly your monthly payment.

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EMPLOYER REPAY

Employer Student Loan Repayment assistance is a tax-free benefit allowing employers to contribute towards the repayment of employee student loans.  This newest in-demand employee benefit helps reduce financial stress for employees while increasing retention and loyalty to employers.

LEARN MORE
Application Disclosures | Fixed Rate Student Loan | Parent Loan
TERMS & CONDITIONS

1. ASSUMPTIONS FOR DEFERRED EXAMPLE: Calculations are based on equal disbursements in September and January. Fifty-four (54) months pass (48 month in-school and 6 months grace) at which time accrued interest is capitalized and a 180-month repayment term begins. Interest accrues during deferment period and is capitalized (added to) principal balance at time loan enters repayment. The maximum deferment time is 72 months.

2. INTEREST RATES: Rates are for loans first disbursed on or after July 1, 2022 for the 2022/23 academic year and include 0.25% reduction for making automatic monthly payments (auto-pay feature). Each repayment option is subject to funds availability. Funds will be awarded on a first-come, first-served basis. The rates and terms disclosed above are available while funds last. New funds may be subject to different rates and/or terms. 

3. RHODE ISLAND ADVANTAGE applies to any Rhode Island Students attending school in any state or Non-Rhode Island Students attending a school in Rhode Island who select an Immediate or Deferred Repayment loan.

4. APR:  The Annual Percentage Rate (APR) reflects the estimated total cost of the loan, including origination fees ($0), accruing interest, and the effect of capitalized interest. Interest begins accruing after each loan disbursement.  Rate shown includes the 0.25% interest rate reduction for using the auto-pay feature. If monthly payment is calculated to be less than $50 per month for full term, lowest payment is $50 per month with term reduced.

5. THE COSIGNER RELEASE PROGRAM:  is not offered to residents of Colorado, Connecticut, or Maine. 

2022 recognition from Forbes Advisor, ©2022 Forbes Media LLC.