REFINANCE LOANS

REFINANCE, SIMPLIFY, AND SAVE.

Why pay back more than you have to?

REPAYMENT OPTIONS
REPAYMENT OPTIONS

IMMEDIATE or DEFERRED refinancing is for students in-school, out of school, or parents.

RATE DISCOUNT
RATE DISCOUNT

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

ZERO UP-FRONT FEES
ZERO 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.

REFINANCE LOANS FOR
STUDENTS & PARENTS
Finding a better way to repay.

Whether you are an enrolled student still in school, a former student or a parent, you can refinance your education loans now to lower your rate with the choice to repay now or later!

IMPORTANT NOTICE

Before you refinance any federal loans, please carefully consider the current temporary suspension of interest and payments issued by the federal government through August 31, 2022 and other federal loan benefits such as Public Service Loan Forgiveness. In addition, the current administration has raised the possibility of federal loan forgiveness for certain student loan borrowers, but there are no specifics at this time.

Refinancing Education Loans

RISLA has two options, pay now or pay later.

 
IMMEDIATE REFINANCING
Are you Ready to Get Your Rate?
Rate Requests will have no impact on credit score.
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IMMEDIATE REFINANCING
Start Your Application Today
Online application is quick, easy and secure.
 
DEFERRED REFINANCING
Are you Ready to Get Your Rate?
Rate Requests will have no impact on credit score.
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DEFERRED REFINANCING
Start Your Application Today
Online application is quick, easy and secure.
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For Students

IMMEDIATE REFINANCING

You can begin repayment now, why not with a lower interest rate and possibly save thousands with an affordable monthly payment that fits your budget.

DEFERRED REFINANCING (IN-SCHOOL)

You can lower your student loan interest rates while still in school and no payments are due until 6 months after leaving school.

For Parents

IMMEDIATE REFINANCING

Parents have the opportunity to lower interest rates and possibly save thousands by refinancing high cost Federal PLUS and/or private loans currently in repayment. The immediate repay refinance has the option to add your student to the loan obligation, but it is not required.

DEFERRED REFINANCING (IN-SCHOOL)

Students must be obligated on the loan. As a parent cosigning for this refinancing loan, both you and your student share the debt obligation and do not begin repayment until 6 months after the student leaves school.

NATIONAL RECOGNITION

Forbes Advisor ranked RISLA as having one of the best education loan programs in the country. Recognizing that for twenty-eight (29) years RISLA’s fixed rate education loan programs are among the most affordable of any in the nation.

REFINANCING OPTIONS

IMMEDIATE REPAY
IMMEDIATE REFINANCE 
DEFERRED REPAY1
IN-SCHOOL REFINANCE 
Student Loan Limits & Eligibility

LOAN LIMITS

Loan limits for refinancing educational loans must meet the following requirements.

  • Minimum:  $7,500 - per year

  • Maximum: Up to  $250,000 (based upon level and discipline of degree)

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.

This loan program is available to undergrad and graduate students, as well as parent borrowers. Educational loans must have been used for attendance at eligible Title IV degree-granting (for-profit schools excluded) institutions in the United States. 

 

  • Student must be a US citizen or permanent resident
  • Pass a credit check.

  • Meet additional credit-related eligibility requirements.

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QUESTIONS ABOUT REFINANCING?

Learn more about refinancing your student loans.

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.

GET READY TO REFINANCE WITH THESE EASY STEPS

NUMBER 1

APPLY ONLINE

Quick

Your application can be completed online.

  • Takes 5-10 Minutes to Complete Application
  • Requires Credit Check for Application Processing
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 YOUR 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
  • E-Signature to complete loan application
  • Congratulations! You Did It!
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Quick and Easy Process

The process to refinance my student loans with RISLA was very easy and at a rate better than anywhere else I found.

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Christopher
RISLA Customer
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Immediate Help Every Step of the Way

I always get so much service, understanding, and knowledgeable assistance. I am very thankful for RISLA!

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Rebecca
RISLA Customer
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RISLA Refinancing

RISLA was easy to apply for, very clear in what they needed from you, and always kind and helpful when I needed help. I spoke to multiple people while applying and they were all super nice and made this experience less stressful for me. I can't speak enough on how thankful I am for their kindness and I appreciate the help.

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Marisa C.
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.

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.

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.

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.

TERMS & CONDITIONS

1. ASSUMPTIONS FOR UNDERGRAD DEFERRED EXAMPLE: Rates for graduate students differ from rates shown.

2.THE ANNUAL PERCENTAGE RATE (APR) IMMEDIATE REPAY: reflects the estimated total cost of the loan, including upfront fees ($0), accruing interest, and the effect of capitalized interest ($0). Interest begins accruing after each loan disbursement. Rates shown include 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. Not all borrowers qualify for the lowest rate. The rate you will receive (ranging from 4.29% – 7.04% APR with auto-pay) is based on the term of the loan, if the loan is cosigned (which lowers your rate), if you are a Rhode Island resident (which lowers your rate), your credit score & financial history, your cosigner's credit score (if applicable), and other factors. Rate shown is for 5-year term. First payment will be due approximately 30 days after the loan is disbursed View application disclosure. The rates and terms disclosed above are available while funds last. New funds may be subject to different rates and/or terms. 

3. THE ANNUAL PERCENTAGE RATE (APR) DEFERRED REPAY:
reflects the estimated total cost of the loan, including upfront fees ($0), accruing interest, and the effect of capitalized interest.  Interest begins accruing after each loan disbursement. Rates shown include 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. Not all borrowers qualify for the lowest rate. The rate you will receive (ranging from 6.47% - 6.79% APR with auto-pay) is based on the term of the loan, if you are a Rhode Island resident or go to school in Rhode Island (which lowers your rate), your credit score & financial history, your cosigner's credit score (if applicable), and other factors. Rate shown is for 15-year term. View application disclosure.The rates and terms disclosed above are available while funds last. New funds may be subject to different rates and/or terms.

2021 Award from Forbes Advisor, ©2021 Forbes Marketplace Operations, Inc.