PARENT LOANS

Our rates speak for themselves.

* Requesting a rate will not impact your credit score.

GET MY RATE*
PEACE OF MIND
PEACE OF MIND

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

RATE DISCOUNT
AUTO-PAY RATE DISCOUNT

With auto-pay, receive a rate reduction of 0.25% with monthly payments.

ZERO UP-FRONT FEES
NO FEES

No application fees, origination fees, late fees, or insufficient funds fees.

REWARDS
REWARDS

Internships can earn $2,000 in student loan forgiveness. Nurses can pay zero interest on student loans for up to 4 years.

EDUCATION LOANS FOR
PARENTS
Lending for parents made easy.

The RISLA parent loan is an alternative option to the Federal PLUS loan with no origination fees, which can offer you a savings right from the start.  Your student is not obligated for repayment on this loan.  This loan begins repayment 30 days after funds are disbursed.

For parents who are interested in having their student obligated on the loan, they should consider our Immediate Repay Student loan with parent as cosigner.  Immediate repay student loans offer the lowest rates offered by RISLA.

RISLA NATIONAL RECOGNITION

FORBES_ADVISOR_01
INVESTOPEDIA_02
MONEY.COM_03
NERDWALLET_04
US_NEWS_05
YAHOO.COM_06

EDUCATION LOAN OPTIONS

2023 - 2024 ACADEMIC YEAR
IMMEDIATE REPAY
STUDENT & COSIGNER
INTEREST RATE
FIXED INTEREST RATE
WITH AUTO-PAY
4.45%  - 8.45%
 
APR
APR1
WITH AUTO-PAY
4.45% - 8.45%
 
UP-FRONT FEES
UP-FRONT FEES
NONE
STANDARD REPAY TERM
STANDARD REPAY TERM
120 MONTHS
ESTIMATED MONTHLY PAYMENT
ESTIMATED MONTHLY PAYMENT
$105 - $126
PER $10K BORROWED
REPAYMENT START
REPAYMENT START
15 DAYS
AFTER FINAL DISBURSEMENT
COSIGNER RELEASE
COSIGNER RELEASE3
YES
ELIGIBLE FOR RELEASE AFTER ENTERING REPAYMENT.
THE FIRST 24 MONTHLY PAYMENTS NEED TO BE MADE CONSECUTIVELY AND ON-TIME. 
ADVANTAGES
ADVANTAGE
SHORTER TERM THAN DEFERRED, LOWER INTEREST RATE
DISADVANTAGES
DISADVANTAGE
PAYMENT IS REQUIRED WHILE THE STUDENT IS ATTENDING SCHOOL

 

DEFERRED REPAY
STUDENT & COSIGNER 
FIXED INTEREST RATE
FIXED INTEREST RATE
WITH AUTO-PAY
5.99% - 8.99%
 
APR
APR
WITH AUTO-PAY
5.79% - 8.86%
 
UP-FRONT FEES
UP-FRONT FEES
NONE
STANDARD REPAY TERM
STANDARD REPAY TERM
180 MONTHS
ESTIMATED MONTHLY PAYMENT
ESTIMATED MONTHLY PAYMENT
$97 - $141
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
ADVANTAGE
NO PAYMENT REQUIRED WHILE IN SCHOOL
DISADVANTAGES
DISADVANTAGE
HIGHER OVERALL COST DUE TO TERM LENGTH

 

PARENTS
PARENT ONLY
FIXED INTEREST RATE
FIXED INTEREST RATE
WITH AUTO-PAY
5.74% - 8.74%

 

APR
APR
WITH AUTO-PAY
5.74 - 8.74%

 

UP-FRONT FEES
UP-FRONT FEES
NONE
STANDARD REPAY TERM
STANDARD REPAY TERM
120 MONTHS
ESTIMATED MONTHLY PAYMENT
ESTIMATED MONTHLY PAYMENT
$112 - $128
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
ADVANTAGE
STUDENT IS NOT OBLIGATED TO THE LOAN
DISADVANTAGES
DISADVANTAGE
HIGHER INTEREST THAN IMMEDIATE REPAY OPTION WITH STUDENT AS THE PRIMARY BORROWER
Student Loan Limits & Eligibility

LOAN LIMITS

$1,500 - $50,000 per year. This can not exceed the total Cost of Attendance (COA) minus other financial aid received.

  • Minimum:  $1,500 - per year

  • Maximum:  $50,000 per year

  • Loan amount can not exceed the total Cost of Attendance (COA) minus other financial aid received.

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 Institutions of Higher Education

  • Available to Non-Matriculating Students 

  • Student must be a US citizen or permanent resident
noun_click_26173_WHITE
RISLA EDUCATION LOANS
START YOUR APPLICATION TODAY!

* Requesting a rate will not impact your credit score.

GET MY RATE*

WE'VE GOT YOU COVERED.

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

HOW TO APPLY

The easiest and fastest way to apply for an education loan.

* Requesting a rate will not impact your credit score.
GET STARTED*
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!

TOOLS & RESOURCES

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.

SIGN-UP FOR OUR RISLA BLOG
left-quote Created with Sketch.
GREAT EXPERIENCE

They made the process very easy! I’m very happy with RISLA and will continue to use them throughout my daughter’s education.

RISLA LOGO
Ben C.
RISLA Customer
left-quote Created with Sketch.
RISLA WONDERFUL CUSTOMER SERVICE

RISLA has made the student loan process as quick, easy & painless as possible!!! Customer representatives are absolutely THE BEST EVER!!! Always professional & polite!!! It has been a pleasure to have done business with them for the last 4 years!

RISLA LOGO
Phyllis K.
RISLA Customer
left-quote Created with Sketch.
GREAT TO WORK WITH

For my first time sending a child off to college, there was a lot of anxiety and confusion around how to help my child pay for college. I did much research and found that RISLA seemed to be the best option for me. They made the process simple to understand, easy to complete, and best of all, every time I called, I spoke with a live person. They typically responded in a very short time to questions that I had. Thank you, RISLA team, for your professionalism through the loan process.

RISLA LOGO
Parent
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.

LEARN MORE
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.

LEARN MORE
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.

LEARN MORE
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
Fixed Rate Student Loan  |  Parent Loan

1. 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. The rate shown includes the 0.25% interest rate reduction for using the auto-pay feature and RI Advantage.

2. RHODE ISLAND ADVANTAGE: applies to any Rhode Island resident students attending school in any state or Non-Rhode Island resident students attending a school in Rhode Island.

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