EdvestinU Review: Student Loan Refinancing and Private Student Loans 2023

EdvestinU is a loan program offered by Granite Edvance Corporation, a nonprofit which provides private student loans and student loan refinancing nationwide.

As a nonprofit, Granite Edvance provides borrower incentives that can reduce the cost of borrowing, as well as scholarship programs and educational outreach.

• EdvestinU student loan refinancing review
• EdvestinU private student loans review

EdvestinU student loan refinancing review

Best if:

• You didn’t graduate
• You don’t need to refinance more than $200,000
• You don’t need a cosigner

While EdvestinU won’t refinance as much debt as some of its competitors, it does offer a wide range of loan terms and a choice of a fixed or variable interest rate. Also, unlike many private lenders, EdvestinU doesn’t require you to have earned your degree — you can refinance your student loans as long as you meet the company’s income and credit requirements.

EdvestinU refinancing: Interest rates and loan details

If you have the income to support repayment, you can refinance up to $200,000 in student loan debt with EdvestinU. That’s less than the ceiling set by some lenders, but should be enough to cover most borrowers’ undergraduate and even graduate school debt. If you’re coming out of medical school or law school with more than $200,000 in debt, some of the best companies to refinance offer higher limits.

Credible rating	3.8
Rates from (APR)	Fixed: 6.0%+ Variable: 8.05%+
Loan amounts	$7,500 to $200,000
Loan terms	5, 10, 15, and 20 years
Loan types	Any private or federal student loan (including PLUS loans)
Min. credit score	700
Min. income	$30,000 to $50,000 (depending on loan amount)
Residency	U.S. citizen or permanent resident
Transfer parent loan to child?	No
Death discharge available	Yes, cosigner released if borrower dies
Fees	No application, origination, or disbursement fees
Prepayment penalty	None
Key benefits	0.25% autopay discount
Education	Degree not required
Cosigner release	Applications accepted after 24 consecutive on‑time payments. Borrowers must meet conditions that include: FICO score greater than 699 Min. gross income of $30,000 for loans up to $100,000 Min. gross income of $50,000 for loans over $100,000 Debt-to-income ratios of 43% or less No defaults on education loans
Loan servicer	Firstmark Services
Best if	You didn't graduate You don’t need to refinance more than $200,000 You don't need a cosigner
All APRs reflect autopay and loyalty discounts where available | 5 EdvestinU Disclosures

EdvestinU student loan refinancing review

EdvestinU offers competitive rates that can make it an attractive refinancing option for borrowers with good credit.

An analysis of $142 million in loans recently refinanced by EdvestinU provides some insights into the kind of borrowers they’ve helped:

• Average credit score: 784
• Average income: $126,816
• Average debt-to-income ratio: 29.3%
• Average amount refinanced: $51,553

Those healthy borrower characteristics allowed the typical EdvestinU customer to refinance into a fixed-rate loan with an average interest rate of 6.23%. Those who authorized automatic payments did even better, securing a fixed rate of 6.11% after factoring in the 0.25% autopay discount.

How to qualify

If you want to refinance your loans on your own with EdvestinU, you’ll need a credit score of at least 700.

EdvestinU also has minimum income requirements that correspond to the amount of debt being refinanced:

• Loans up to $100,000: minimum gross income of $30,000
• Loans over $100,000: minimum gross income of $50,000

Repayment

EdvestinU offers a wide range of repayment terms, from five to 20 years, making it easier to achieve your goals. The longer you take to repay your loan, the lower your monthly payments, but the higher your total repayment costs.

How EdvestinU compares to other refinancing lenders

	Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.	Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.	Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates from (APR)	Fixed: 6.0%+ Variable: 8.05%+	Fixed: 6.99%+2 Variable: 6.99%+2	Fixed: 7.0%+1 Variable: 7.29%+1
Loan repayment terms (Years)	5, 10, 15, 20	5 to 15 years	5, 7, 10, 15, 20
Loan amount	$7,500 to $200,000	$5,000 to $300,000	$10,000 to $500,000 (depending on level of education)
Cosigner release?	Yes, applications accepted after 24 consecutive payments	Not offered for refinancing	Yes, applications accepted after 36 consecutive payments
Transfer parent loan to child?	No	No	No
Loan servicer	Firstmark Services	University Account Service (UAS)	Firstmark Services
Best for	Those who didn't graduate	Graduates seeking flexible loan terms	Refinancing large loan balances
Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 1Citizens Disclosures | 2,3College Ave Disclosures | 11Custom Choice Disclosures | 7EdvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures| 10Ascent Disclosures

How to refinance student loans with EdvestinU

EdvestinU can be a great match for certain borrowers. Because each refinancing lender determines the rate they’ll offer on a case-by-case basis, you should compare multiple lenders to find your lowest possible rate.

You can use Credible to fill out a single form in two minutes and compare prequalified rates from other lenders who offer student loan refinancing.

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EdvestinU private student loans

Best if:

• You have a cosigner with strong credit
• You’re comfortable making automatic payments
• You don’t need to borrow more than $200,000

EdvestinU offers private student loans with no origination, disbursement or prepayment fees. But be prepared to apply with a cosigner — most students don’t have the credit history or income to qualify for private student loans on their own.

EdvestinU private student loans: Interest rates and loan details

With an EdvestinU private student loan, offered by Granite Edvance, you have a choice of a fixed or variable interest rate and a wide range of repayment terms and options.

Credible rating	4.8
Rates	Fixed: 6.25%+ Variable: 8.13%+
Loan amounts	$1,000 minimum Up to 100% cost of attendance (aggregate borrowing limit of $200,000)
Loan terms	7, 10, 15 years
Min. credit score	750
Min. income	$30,000 (borrower or cosigner)
Residency	U.S. citizen or permanent resident International students eligible with a creditworthy U.S. citizen or permanent resident cosigner
Repayment plans	Defer payments until 6 months after leaving school, or: Pay interest only while in school Begin full repayment while in school
Fees	No application, origination, or disbursement fees
Prepayment penalty	None
Key benefits	0.25% autopay discount
Enrollment	Must be enrolled at least half time at an eligible institution
Cosigner release	Applications accepted after 24 consecutive on‑time payments. Borrowers must meet conditions that include: FICO score greater than 750 Minimum gross income of $30,000
Loan servicer	Firstmark Services
Best if	You have a cosigner with strong credit You’re comfortable making automatic payments You don’t need to borrow more than $200,000
All APRs reflect autopay and loyalty discounts where available | 7 EdvestinU Disclosures

EdvestinU private student loans review

For borrowers and cosigners with good credit, EdvestinU private student loans offer rates that can be competitive with federal parent PLUS loans.

Looking at a recent pool of $72 million in private student loans made by EdvestinU provides some insights into who can benefit:

• Average credit score (cosigner): 789
• Average income (cosigner): $116,975
• Average loan balance: $15,576

Nearly nine in 10 borrowers in the pool of loans analyzed chose a fixed-rate loan, with an average rate of 7.22%. Those who opted for automatic payments did even better, with an average rate of 6.86% after factoring in the 0.25% autopay discount.

How to qualify

Although it’s possible to qualify for a private student loan without a cosigner, most borrowers will require one. Even if you don’t need a cosigner to qualify, having one can help you get a better rate.

The minimum credit score needed to qualify for a private student loan on your own with EdvestinU is 750. In addition to minimum credit score, EdvestinU requires that the borrower (or cosigner) have at least $30,000 in gross income.

Repayment

EdvestinU offers a wide range of loan terms and repayment terms, helping you fit your loan payments to your monthly budget.

Depending on how much you borrow, you can repay your loan over seven, 10, or 15 years. While you can put off making any payments until six months after leaving school, keep in mind that interest will start racking up as soon as you take your loans out.

EdvestinU will also let you pay just the interest you owe while you’re still in school, which keeps your loan balance from growing. You’ll save even more if you can begin full repayment while still in school, although that’s not an option many borrowers can afford.

How EdvestinU’s student loans compare to other lenders

	Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.	Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.	Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Rates from (APR)	Fixed: 6.25%+ Variable: 8.13%+	Fixed: 4.49%+2,3 Variable: 5.59%+2,3	Fixed: 4.99%+1 Variable: 6.37%+
Loan terms (Years)	7, 10, 15	5, 8, 10, 15	5, 10, 15
Loan amount	$1,000 up to 100% of certified cost of attendance ($200,000 aggregate loan limit)	$1,000 up to 100% of cost of attendance	$1,000 minimum, up to school's cost of attendance (Aggregate limits apply)
Cosigner release available?	Yes	Yes	Yes
Loan servicer	Firstmark Services	University Account Service (UAS)	University Account Service (UAS)
Best for	Those who don’t need to borrow more than $200,000	Students and parents seeking flexible loan terms	Professional students (law, medicine, and MBA)
Lowest APRs reflect autopay, loyalty, and interest-only repayment discounts where available | 1Citizens Disclosures | 2,3College Ave Disclosures | 11Custom Choice Disclosures | 7EdvestinU Disclosures | 8INvestEd Disclosures | 9Sallie Mae Disclosures| 10Ascent Disclosures

How to take out student loans with EdvestinU

As a nonprofit providing money-saving borrower incentives, Granite Edvance’s EdvestinU product is worth considering. There are a growing number of lenders competing to make educational loans, so it’s wise to get rates from multiple lenders to find the best deal.

With Credible, it only takes a few minutes to fill out a form and request private student loan rates from EdvestinU and other top private student lenders without affecting your credit.

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How EdvestinU can improve

If you’re looking for a private student loan, or to refinance existing student loan debt, EdvestinU has a lot to offer. But EdvestinU would be even better if they allowed you to:

• Refinance loan balances of more than $200,000
• Apply for cosigner release before 24 months when refinancing
• Easily qualify for a private student loan without a cosigner

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