STUDENT LOANS

FOR UNDERGRADUATE & GRADUATE

* Requesting a rate will not impact your credit score.

PEACE OF MIND
PEACE OF MIND

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

AUTO-PAY RATE DISCOUNT
AUTO-PAY RATE DISCOUNT

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

ZERO UP-FRONT FEES
ZERO UP-FRONT FEES

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

REWARDS
REWARDS

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

STUDENT LOANS FOR
UNDERGRADUATE & GRADUATE
RISLA, With You For The Journey.

Our goal isn’t to make a large profit at the borrower’s expense. RISLA’s non-profit education loan programs help students borrow responsibly at affordable simple interest rates. RISLA loans are available to students in all 50 states and Washington DC.

Your Future is Our Future.

RISLA believes that the future depends on the success of today’s and tomorrow’s students. RISLA is with you every step of the college journey, walking you through the college planning process, educating families on how to obtain financial aid, and providing tools that can help families make informed and responsible borrowing choices for college.

EDUCATION LOAN OPTIONS
2023 - 2024 ACADEMIC YEAR
IMMEDIATE REPAY
STUDENT & COSIGNER
DEFERRED REPAY2
STUDENT & COSIGNER 
PARENTS
PARENT ONLY
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
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RISLA EDUCATION LOANS
START YOUR APPLICATION TODAY!

* Requesting a rate will not impact your credit score.

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.

NATIONAL RECOGNITION
RISLA IN THE NEWS
HOW TO APPLY

Applying for an Education Loan has never been easier or quicker.

* Requesting a rate will not impact your credit score.

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!

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.

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 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

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Great Rates &
Multi-Year Loans

Not only does RISLA have great interest rates and loan options, but they have a multi-year loan program where they can fast-track subsequent student loans.

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James H.
RISLA Customer
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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!

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Phyllis K.
RISLA Customer
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Excellent Experience

RISLA had the best rates and the process was quick and easy - better than my very large federal credit union of which I am a member. RISLA serviced my student loans 30+ years ago and is helping my kids be able to attend the colleges they wanted.

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Darlene S.
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.

Application DisclosuresFixed Rate Student Loan  |  Parent Loan
TERMS & CONDITIONS

1. 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.

2. ASSUMPTIONS FOR DEFERRED EXAMPLE: Calculations are based on equal disbursements in September and January. For undergraduate students, 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.  For graduate students, calculations are based on thirty months deferment (24 month in-school and 6 months grace) with a maximum deferment time of 36 months.

3. INTEREST RATES: Rates are for loans first disbursed on or after July 1, 2023, for the 2023/24 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. 

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.  The 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 Colorado, Connecticut, or Maine residents.