INvestEd Student Loan Refinancing Review September 2025

INvestEd has been offering student loans, parent loans, and refinance loans at affordable rates for over 45 years. The lender also offers information on college planning at more than 1,000 events annually.

While INvestEd can be a great refinancing option due to its low rates, not everyone can borrow with this lender, as loans are restricted to Indiana residents and those attending school in the Hoosier State.

This INvestEd student loan refinancing review offers insight into the lender and its offerings so you can decide if it's right for you. 

INvestEd student loan refinancing review

Best for: Extended forbearance

INvestEd offers more repayment flexibility on refinance loans than some private lenders, including extended forbearance when you’re facing financial hardship.

If you’re struggling financially, you can be granted up to two forbearances in any 12-month period, with a duration between one and three months. Over the life of the loan, you can put your loan into forbearance for a cumulative total of 24 months. This is twice as long as some other lenders.

Pros and cons

Eligibility requirements 

To be eligible for student loan refinancing with INvestEd, you must:

• Be either a U.S. citizen or permanent resident
• Have a FICO score of 670 or higher
• Have an annual income of $36,000 or higher
• Have a debt-to-income ratio (including all student loans and other debts) below 40% to 50% of your gross monthly income, depending on income level
• Have been continuously employed over the prior year, unless you are disabled, receiving a verified income, are retired, or recently graduated
• Have no delinquencies of 60 or more days over the past 2 years
• Have no repossessions, foreclosures, or wage garnishments
• Have no bankruptcies in the past 5 years
• Have no history of defaulting on private or government student loans

If you can't qualify for a refinance loan on your own, you can apply with an eligible cosigner. Your cosigner can be released from their obligation after 12 consecutive, on-time payments if you meet certain criteria.

Borrowing limits

INvestEd allows you to refinance your student loans if you have:

• A minimum of $5,000 in loans
• A maximum of $250,000 in loans

Current student loan refinance rates

Repayment terms

INvestEd offers borrowers the option to repay their refinance loan over the following terms:

• 5 years
• 10 years
• 15 years
• 20 years

Notable benefits 

INvestEd offers a choice of fixed- or variable-rate refinance loans at very competitive rates, making it an affordable borrowing option. 

Borrowers can also qualify for an interest rate reduction of 0.25 percentage points for opting to make automatic payments, and can qualify for cosigner release after just 12 months of on-time payments.

What to consider before refinancing student loans with INvestEd

INvestEd requires you to submit a full application to find out your personalized rate, unlike other lenders that provide rate quotes and pre-approval with a soft credit check only. The good news is that you receive an instant decision when you apply.  

On the downside, INvestEd only provides student loan refinancing to Indiana residents and those attending Indiana schools. The lender also has a refinance loan maximum of $250,000, so borrowers with very high balances may not qualify. 

How to apply for student loan refinancing with INvestEd 

To apply for refinancing with INvestEd:

1. First, consider whether refinancing is right for you. If you have federal student loans, you'd be giving up important borrower benefits by refinancing, so be aware of this downside. 
2. Next, decide if you'll apply to refinance with a cosigner or without a cosigner, as you'll need to include your cosigner’s information in your application. A cosigner with good to excellent credit can help you get approved for a lower rate.
3. Visit INvestEd’s website and click “Apply Now” to submit your application.
4. Complete the required forms.

If you’re approved, you can select an interest rate (fixed or variable) and repayment term for your refinance loan. If you want to repay your loan faster, you can choose a shorter term. Keep in mind that a shorter loan term will give you higher monthly payments, while a longer term will give you lower payments, but you’ll pay more in total interest.

Why you can trust our Credible experts

The Credible editorial team is independent and unbiased. Partners do not influence our editorial content. To help you find the best student loan for your situation, we conduct thorough research and analyze thousands of lender data points. Using data-driven methodologies, we score criteria that are important to you. This allows us to objectively rank student loan lenders and products. To learn more, read our methodology below.

Methodology

To determine INvestEd’s lender rating, Credible collected more than 1,000 points of data on two dozen private student loan refinance companies and evaluated them on several different categories: repayment options, eligibility, interest rates, loan terms, and customer support. We assigned a score out of five stars to each lender based on our findings. Below are the weightings assigned to the general categories for the best student loan refinance companies — which comprise individual criteria that are also weighted.

• Repayment options: 30%
• Eligibility: 25%
• Interest rates: 20%
• Loan terms: 15%
• Customer support: 10%

While the best lender for you will depend on your unique needs and financial circumstances, these findings should help answer your questions and assist you in your search for the best student loan.

Learn more about our methodology.