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Parent Loan Rates

Starting at 5.74% APR1,2
Nationally Recognized as One of the Best Education Loans.
RISLA is a non-profit organization based in Rhode Island that provides loans to customers nationwide. Our Parent Loan is an alternative to the Federal PLUS loan and does not have any origination fees. This can result in significant savings for you right from the beginning.


Fixed Rates Starting at



The process of borrowing for college can be stress-free and easy with the help of our loan experts, who are available to answer your questions directly without any recordings. Borrowing responsibly has never been easier.

Requesting a rate will not impact your credit score.


As a non-profit State agency, RISLA consistently offers some of the lowest rates in the industry.


This can include school-certified costs such as tuition, housing, books, and more. Annual and aggregate loan limits apply.


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


Our borrower protections go above and beyond what most private lenders offer, including Income-Based Repayment.

Borrower Benefits

Looking for a student loan that meets your current and future needs? Look no further. RISLA, a non-profit organization that lends to students nationwide, offers low fixed rates, flexible terms, and zero fees—all while providing the support your student needs to succeed. So why wait? Apply today!


Peace of Mind

A multi-year program that provides a convenient way to bridge the financial gap.


Auto-Pay Discount

With auto-pay, there is a rate reduction of 0.25% for monthly payments.


Reward Programs

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


Zero Fees

There are no fees for the application, origination, late payment, or insufficient funds.


Why Choose RISLA?

We are with you for the journey.

RISLA firmly believes that the future relies on the success of today's and tomorrow's students. That's why RISLA is committed to supporting students throughout their college journey by guiding them through the college planning process. Additionally, RISLA strives to educate families on how to obtain financial aid and provide them with tools to make informed and responsible borrowing choices for college.

RISLA, a non-profit education loan lender, offers loan programs with low fixed interest rates to help students borrow responsibly in all 50 states and Washington, D.C. 

Student Loan Programs

2024 - 2025 Academic Year
Immediate Repayment


Deferred Repayment3


Parent Only


Fixed Interest Rates

4.05% - 8.64%

5.99% - 8.99%

5.74% - 8.74%

With Auto-Pay

APR Range

4.05% - 8.64%

5.79% - 8.54%

5.74% - 8.74%

With Auto-Pay
Zero Fees
Term Length

120 Months

180 Months

120 Months

Per $10K Borrowed
$103 - $127 Estimated Monthly Payment
$107 - $141 Estimated Monthly Payment
$112 - $128 Estimated Monthly Payment
Eligible for Cosigner Release
Loan Advantages
Shorter Term Than Deferred
No Payment Required while in School
Student is not obligated to the loan
Loan Disadvantages
Payment is required while the student is enrolled in school.
Higher overall cost due to term length of student loan.
A higher interest rate than the Immediate Repayment Loan.

Student Loan Borrowing Limits

How much should you borrow for college?

It is recommended that you borrow only the necessary amount to cover your educational expenses. The more you borrow now, the more student loan debt you will have to pay back later, along with the added interest. To determine the appropriate amount of student loan you should take, you need to calculate your cost of attendance.

Minimum of $1,500
  • Per academic year.
Maximum of $50,000
  • Per academic year.
Loan Amount
  • It cannot exceed the total Cost of Attendance (COA) minus other financial aid received.

Student Loan Eligibility

Are you eligible for student loans?

All RISLA Loans are credit-based, with additional eligibility requirements.

Must be enrolled in an eligible school or program
  • A Title IV Degree granting school.
  • Public or non-profit institutions of higher education.
Must meet credit and income requirements
  • Subject to credit check.
  • Documentation of Income.
May require a cosigner
  • Loan approval may or may not require a cosigner.  However, having a cosigner may result in a lower interest rate.
Must be a US citizen or eligible noncitizen
  • Both borrower, cosigner, and benefiting student must be a US citizen or a permanent resident with a non-conditional green card.

Applying for your student loan is easy.

Our team of student loan specialists is available to answer any questions you may have with your online application.

Speak with our student loan specialist to answer your questions at 800-758-7562

Get Pre-Qualified

Getting your rate is quick and easy without impacting your credit score!

Confirm Your Rate & Term

Compare rates and terms to choose a loan that fits your budget. This may lower your monthly payment or reduce the total interest paid over time.

E-Sign Your Loan

Confirm your acceptance of the loan by completing your e-signature. The loan will be approved after this process is completed.


Contact Our Student Loan Specialist

RISLA is here to help answer your questions.

We'd be delighted to help you with your application and find ways to save money with your student loans.

What customers are saying about RISLA



Student Loans FAQ

Many students and families have questions when preparing for college. We are here to help answer those questions.

We are with you for the journey.

College Planning

A free service aimed at helping students achieve their goal of attending college and paying for it. The CPC assists thousands of students and families each year in planning for higher education.

Scholarship Hub

Check out how to prepare for college—access free tools and resources.  Find local scholarships for college, and parents and students can enter to win $2,000 in college scholarships!


With our refinancing options, you can enjoy the benefits of low fixed interest rates, no fees, and an auto-pay discount. Take advantage of this opportunity to save money and simplify your finances. 

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 Discount.

2. RI ADVANTAGE DISCOUNT: 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. DEFERRED APR: Interest rates are the same for graduate students. However, the APR range differs from the range shown above for undergraduate students.

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