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EDvestinU is a loan program offered by the New Hampshire Higher Education Assistance Foundation, a nonprofit which provides private student loans and student loan refinancing nationwide.
As a nonprofit, EDvestinU provides borrower incentives that can reduce the cost of borrowing, as well as scholarship programs and educational outreach.
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.
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| Rates from (APR) | Fixed: 4.41%+5 Variable: 2.70%+5 |
| 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 36 consecutive on‑time payments. Borrowers must meet conditions that include:
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| Loan servicer | Granite State Management & Resources (GSM&R) |
| Best if |
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All APRs reflect autopay and loyalty discounts where available | 5 EDvestinU Disclosures |
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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
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| Rates from (APR) | Fixed: 4.41%+5 Variable: 2.70%+5 | Fixed: 4.89%+2 Variable: 3.89%+2 | Fixed: 3.49%+¹ Variable: 2.72%+¹ |
| Loan repayment terms (Years) | 5, 10, 15, 20 | 5 to 20 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 36 consecutive payments | Not offered for refinancing | Yes, applications accepted after 36 consecutive payments |
| Transfer parent loan to child? | No | No | No |
| Loan servicer | Granite State Management & Resources (GSM&R) | University Account Service (UAS) | Firstmark Services |
| Best for | Those who didn't graduate | Graduates seeking flexible loan terms | Refinancing large loan balances |
All APRs reflect autopay and loyalty discounts where available | 1Citizens Bank Disclosures | 2College Ave Disclosures | 3 ELFI Disclosures | 4SoFi Disclosures | 5EDvestinU Disclosures |
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Citizens Bank Education Refinance Loan Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of May 1, 2020, the one-month LIBOR rate is 0.44%. Variable interest rates range from 2.72%-8.38% (2.72%-8.38% APR) and will fluctuate over the term of the borrower's loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 3.49% - 8.63% (3.49% - 8.63%APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown are for eligible, creditworthy applicants with a graduate level degree, require a 5-year repayment term and include our Loyalty discount and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty and Automatic Payment Discount disclosures. The maximum variable rate on the Education Refinance Loan is the greater of 21.00% or Prime Rate plus 9.00%. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of their loan. |
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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.
Credible makes it easy to compare top rates from EDvestinU and other student loan refinancing lenders with just one form. You’re able to check your prequalified rates without a hard credit pull, so it won’t affect your credit.
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, you have a choice of a fixed or variable interest rate and a wide range of repayment terms and options.
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| Rates | Fixed: 4.09%+8 Variable: 2.21%+8 |
| Loan amounts |
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| Loan terms | 7, 10, 15 years |
| Min. credit score | 750 |
| Min. income | $30,000 (borrower or cosigner) |
| Residency |
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| Repayment plans | Defer payments until 6 months after leaving school, or:
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| Fees | No application, origination, or disbursement fees |
| Prepayment penalty | None |
| Key benefits | 0.50% autopay discount |
| Enrollment | Must be enrolled at least half time at an eligible institution |
| Cosigner release | Applications accepted after 36 consecutive on‑time payments. Borrowers must meet conditions that include:
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| Loan servicer | Granite State Management & Resources (GSM&R) |
| Best if |
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All APRs reflect autopay and loyalty discounts where available | 8 EDvestinU Disclosures |
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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 0.50% 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, 12, 15, or 20 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
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| Rates from (APR) | Fixed: 4.09%+8 Variable: 2.21%+8 | Fixed: 4.39%+2,3 Variable: 2.49%+2,3 | Fixed: 4.40%+1 Variable: 1.47%+1 |
| Loan terms (Years) | 7, 10, 15 | 5, 8, 10, 15, 20 | 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 | Granite State Management & Resources (GSM&R) | 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 Bank Disclosures | 2,3College Ave Disclosures | 6Discover Disclosures | 8EDvestinU Disclosures | 9Sallie Mae Disclosures |
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Citizens Bank Student Loan Rate Disclosure Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of May 1, 2020, the one-month LIBOR rate is 0.44%. Variable interest rates range from 1.47%-9.80% (1.47%-9.65% APR) and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 4.40%-12.19% (4.40% - 12.04% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co- signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan. |
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How to take out student loans with EDvestinU
As a nonprofit providing money-saving borrower incentives, EDvestinU is a private student lender 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 rates from EDvestinU and other top private student lenders without affecting your credit.
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 36 months when refinancing
- Easily qualify for a private student loan without a cosigner
The company above is one of Credible’s approved partner lenders. Because they compete for your business through Credible, you can request rates from them by filling out a single form. Then, you can compare your available options side-by-side. Requesting rates is free, doesn’t affect your credit score, and your personal information is not shared with our partner lenders unless you see an option you like. Credible receives compensation if you close a loan with one of our partner lenders. The rates you receive and the fees you pay (if any) are not impacted by this compensation.
