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Refinancing Made Easy.

Rates Starting at 6.34%1

Are you ready to save some money on your student loans? We offer refinancing options with low fixed interest rates, no fees, and even a rate discount if you sign up for auto-pay.  You may be able to lower your monthly payments and free up cash with our low student loan refinance rates.

Refinance, Simplify, & Save on Your Student Loans

Why pay back more than you have to? 

Rates Starting at



RISLA Refinance Benefits

  • Competitive Low Rates
  • No Degree Required
  • No Fees
  • Borrower Protections
  • Flexible Repayment Terms
  • Income-Based Repayment

Our refinance specialist can help you find the best rate and term when refinancing your student loans. Call with questions and concerns today.

Call Us Today 866-268-9419

Why refinance your student loans with RISLA?

RISLA is a nonprofit state-based agency that refinances student loans and offers student loans to undergrads, graduate students, and parents. RISLA is recognized nationally by several finance industry publications as being among the best private student loan lenders for low rates, program benefits, and excellent service.


Low Fixed Rates

Refinance your student loans and possibly lower your monthly payment with RISLA's low rates. Apply easily online.


Absolutely No Fees

No application fees, origination fees, late fees, or insufficient funds fees. Our application process is simple with zero fees.


Pay Now or Pay Later

Pay Now.  For borrowers no longer in school and ready to begin repayment, lower rates may help you save thousands of dollars in interest costs. 

Pay Later.  For students still attending school wanting to lower the interest rate(s) on current loans that are accruing interest while in deferment.



Borrower Protections

RISLA stands out from other lenders because of our borrower protection programs, including an income-based repayment option that offers loan forgiveness after 25 years of payments.




Refinance Calculator

Should you refinance your student loans?

Let the savings number help you decide.  Try out our refinance calculator, which can help you determine how much you can save with a lower interest rate or shorter loan terms when refinancing your student loans.

How Refinancing Your Student Loans Works

Refinancing your student loans is quick and easy. Get started now.

Speak with our refinance specialist to answer your questions  at 866-268-9419

Get Pre-Qualified

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

Confirm Your Rate & Term

Choose a loan that fits your budget by comparing rates and terms. 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. After completing this process, the loan will be approved.

Ready to refinance your student loans?
Start your application today!

* Requesting a rate will not impact your credit score.

Refinancing Student Loans
RISLA offers refinancing for students still attending school.
Start saving while still in school.

We offer a pay-later student loan refinance option that defers your repayment until after you graduate.  Repayment begins six months after you have left school.  At RISLA, you can refinance while still attending school to help lower the cost of accruing interest while current loans are deferred. 



Refinancing Your Parent PLUS Loans.

Are you ready to save on the cost of your child's education? Refinance your Parent PLUS loans with RISLA and you could benefit from competitive, low-fixed rates and great service. Say hello to savings! 






I had zero issues or obstacles working with RISLA. Refinancing my loans has been very emotional for me and I am so grateful that the process was easy!

Brielle N.



Good interest rate, call center answered quickly and was helpful, information that was asked for was applicable and explained well

Nicole G.



Easy to navigate through questions. I needed more time to get statements after explaining why. I was given the time needed to do so.


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Still Have Questions?

Here are some frequently asked questions that may address your concerns about refinancing your student loans.

What will my interest rate be?

Your interest rate will be determined after your pre-qualification and will be based on several factors, including:

  • The repayment term you choose
  • The credit score of the borrower and cosigner (if applicable)
  • Whether you live, work, or went to school in Rhode Island

Use our Get My Rate feature to see what rate you would qualify for by providing some initial information.  Finding out your rate will not negatively impact your credit score.

Are there any fees to apply?

No. This loan has no application, origination, disbursement, or repayment fees. The only times you may be charged a fee(s)  is if you default on your loan.

Do I need a cosigner?

Cosigners are not required if you can qualify for the loan on your own. However, having a cosigner who qualifies will help you get a lower interest rate.

Do I or my cosigner need a bachelor's degree to apply?

No, as long as you meet the other loan qualifications, you are not required to meet any minimum degree level. However, your degree level may affect your maximum loan limit.

What are the qualifications for the loan?

Borrowers who reside in any state may apply for this loan program. 

Borrowers and cosigners (if applicable) will be required to pass a credit check, meet a minimum income requirement, meet liquidity requirements (savings), and meet debt-to-income needs. Eligible loans include private student loans, Federal Stafford Loans, Federal PLUS Loans, and Federal Unsubsidized and Subsidized Loans used to attend a Title IV school. 

Borrowers residing at the same address must make a combined household income of at least $40,000 annually. For borrowers living at separate addresses, at least one must earn $40,000 annually.


Do I have to be a Rhode Island resident to apply?

No, residents from any state may apply for this loan and receive a great low-interest rate. However, you may be eligible for an even lower interest rate if you live, work, or attend Rhode Island college or university.

When will I find out if I am approved?

You will receive an instant pre-approval as soon as your application is submitted. (In rare cases, if we cannot pull your credit, it could take another business day). You can verify the information you entered. Once you receive final approval, typically within 1-2 business days after your supporting application materials have been sent to RISLA.

Documents may be sent to RISLA through our secure site.

What are the loan limits?

The amount you are eligible to borrow is dependent upon:

  • Whether the primary borrower is the student who benefited from the loan proceeds being refinanced and the highest degree earned by that borrower

  • The minimum amount you can borrow is $7,500. The maximum amount you are eligible to borrow will be between $100,000 and $250,000


What is the term of the loan?

You may choose a 5-year, 10-year, or 15-year repayment term when applying.   If you are interested in a shorter loan term, you can select any longer-term loan and pay more than the minimum required amount to pay the balance faster.  Additional funds received are applied toward the principal with no prepayment fee.

When does repayment begin?
  • If you have selected an immediate repayment loan, you will enter repayment 30 days after the funds have been disbursed.
  • If you have selected a deferred repayment loan, you will enter repayment six months after the student leaves school.
What is the minimum payment amount?

Your minimum monthly payment is calculated based on the amount of principal borrowed, the interest rate, and the term of the loan.  There are no fees included in calculating the minimum payment amount.  If the calculation to pay the full amount of principal and interest over the loan's full term is below $50.00, then $50.00 is the minimum payment amount, and the term will be reduced accordingly.

Are there any prepayment penalties?

No, you may pay off your loan early without any penalty.

What supporting documents are required?

After applying and being pre-approved, you must verify the information you input into the Refinance Loan application. The documents you will need to send in are:

  • Most recent billing statements for each loan you wish to refinance (existing RISLA loans are exempt)

  • Most recent billing statement for all loans you are refinancing (existing RISLA loans are exempt)

  • Paystubs or other income verification

  • W2s

  • Documents verifying liquid assets 

  • Additional information, such as promissory notes, may be requested.

A detailed list will be included in your pre-approval package. Documents may be sent to RISLA through our secure site.

What options are available for forbearance?

Forbearance for instances such as unemployment, disability, and hardship may be available to you.  Loans disbursed on or after July 1, 2021, are eligible for up to 24 months of forbearance time.  Forbearance eligibility for loans first disbursed before July 1, 2021, is in accordance with the Promissory Note.

Can I defer my loan if I go back to school?

Yes, however, you must be enrolled at least half-time in a graduate degree-granting program and must notify us of enrollment.  Also, you must make at least one payment before a deferment can be granted.  The maximum deferment time is 36 months for graduate students.  RISLA Refinance Loans are not eligible for a grace period. 

How long will current interest rates last?

Funds are awarded on a first-come, first-served basis. Apply now to ensure you have access to these low-cost funds. Once approved for your loan, your interest rate will be fixed at the rate in your disclosures until your loan is paid in full.


RISLA is here to help answer your questions.
Speak with one of our refinancing specialists.
We'd be delighted to help you with your application process and find ways for you to save by refinancing your student loans.
Application Disclosures | Immediate Refinance Disclosure

1. 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 the monthly payment is calculated to be less than $50 per month for the full term, the lowest payment is $50 per month with the term reduced. Not all borrowers qualify for the lowest rate. The rate you will receive (ranging from 6.34% – 8.29% 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. The rate shown is for a 5-year term. The first payment will be due approximately 30 days after the loan is completely disbursed. The rates and terms disclosed above are available while funds last. New funds may be subject to different rates and/or terms.