If you’re looking for private student loans or wondering whether you should refinance your current student loans, iHelp could be the right lender for you.
iHelp student loan refinancing overview
You should consider refinancing your student loans to get a lower interest rate or a more manageable payment.
Though iHelp calls its student loan refinancing a “consolidation loan,” it’s important to note that it’s actually refinancing, which is very different from the federal student loan consolidation process.
Here are a few perks of refinancing your student loans with iHelp:
| $10,000-$150,000 (undergraduate degree) and $10,000-$250,000 (graduate degree) |
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| Refinance federal, private, and ParentPLUS loans |
| 0.25% rate discount for payments made with automatic debit |
| Must be employed for at least two years with a minimum income of $24,000 |
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| Does not need to have graduated from a post-secondary school. In addition, the borrower does not need to have graduated or attended a school on the eligible school list |
| U.S. citizen or permanent resident |
| Cosigners may be eligible for release at any time after 24 months of consecutive on-time payments have been made, provided the borrower can meet the credit requirement at that time |
| Request up to two years of interest only payments as well as a graduated repayment scheduleForbearance available for qualified borrowers |
| Student Loan Finance Corporation |
How to refinance with iHelp
iHelp can be an excellent match for specific borrowers, especially if you want to support your local community. Each refinancing lender determines the rate they’ll offer you on a case-by-case basis — so it’s impossible to know your lowest possible rate without comparing multiple lenders.
Current student loan rates
iHelp private student loans overview
In addition to offering student loan refinancing, iHelp can also help borrowers currently enrolled in school and looking for a private student loan to help fund their education.
Here are a few perks of choosing a private student loan from iHelp:
| Minimum loan amount of $1,000 ($3,000 for Georgia residents)
Maximum of $100,000 for undergraduates and $150,000 for graduates |
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| 0.30% interest rate reduction for borrowers that qualified for the SOFR + 7.50% interest rate after 24 months of on-time payments. LIBOR has been replaced by SOFR — Secured Overnight Financing Rate — as of June 30, 2023 |
| 0.25% rate discount for payments made with automatic debit |
| Borrower or cosigner must be US citizen or permanent resident |
| Must be enrolled at least half time in an iHELP eligible school |
| Borrower or cosigner must have at least 2 years of positive credit history and annual income of $24,000 or more |
| Full deferment, interest only payments and principal and interest payments |
| Cosigner release available after 24 months of on-time payments |
| Student Loan Finance Corporation |
How to get private student loans with iHelp
Before taking out a private student loan with iHelp or any other lender, exhaust all of your federal student loan options. If you’re still struggling to pay for college, compare student loans from multiple lenders to ensure you’re getting the best rates and terms for you.
Meet the expert:
Matt Carter
Matt Carter has covered mortgages and student loans for over 20 years. He has provided his financial insight to CNBC, CNN Money, The New York Times, The Wall Street Journal, and The Washington Post.
