iHelp

Overview

iHelp, a collaboration between the Reunion Student Loan Finance Corporation (RSLFC) and the Independent Community Bankers of America (ICBA), takes the good and streamlines the bad by simplifying the application process. Rates aren’t the most competitive but you’ll have access to graduated and income-based repayment plans while supporting the underdogs.

Reunion Student Loan Finance Corporation (RSLFC) originates and services private education loans for school and offers refinancing options after graduation. RSLFC is a highly respected student loan originator and loan servicer with over 35 years of experience in student lending. RSLFC, in association with the Independent Community Bankers of America (ICBA), offers iHELP to help students finance their education. Most of your contact will be with RSLFC, which is known for it’s warm, personalized customer service.

Loan Features

Private Student Loan
Fund your education with private student loans from community lenders you can trust. You’ll work directly with an expert, who knows education loans inside and out.

BENEFITS INCLUDE:
A 0.30% interest rate reduction may be available for borrowers that qualified for the LIBOR + 8.50% interest rate, once the borrower enters repayment. In order to be eligible to receive the reduction the borrower must make the first 24 monthly payments on time. The reduction will continue as long as payments continue to be made on time.

Cosigners may be eligible for release at any time once the loan enters repayment and after 24 months of on-time payments have been made, provided the borrower can meet the income and credit requirements at the time.

We offer three repayment options while the borrower is attending an eligible school, at least half time attendance:
Defer payments until you graduate or attend school less than half time.
Make interest only payments. We encourage this because it lowers the overall cost of the loan.
Make principal and interest payments.

Deferment and forbearance options are available for those who qualify after you graduate or drop below at least half time attendance.

Consolidation Loan
Manage all of your federal and private student loans by refinancing and consolidating them into one single loan with a competitive interest rate and one monthly payment.

Parent Loans
We provide answers and resources to help you prepare for college, develop your career, refinance student debt and much more. We’ve got a wealth of knowledge tailored for you.

Application Process

How do I qualify for the iHELP Private Student Loan?
If you are not able to qualify on your own, you can apply with a cosigner.

To qualify for this loan:
The borrower must be a U.S. citizen or permanent resident.
The borrower and cosigner must be of legal age as defined by their state of permanent residence.
The borrower or cosigner must have at least 3 years of positive credit history and meet other creditworthy requirements.
The borrower or cosigner must have an annual income of $24,000 or greater for the past 2 years.
The minimum loan amount is $1,000 except for borrowers attending a school in Georgia, in which case the minimum loan amount is $3,000.
The cosigner may not exceed the debt to income threshold of 45%.

The maximum loan amount is:
Undergraduate: $100,000
Graduate: $150,000

How do I qualify for the iHELP Consolidation Loan?
If you are not able to qualify on your own, but you meet the minimum credit requirements you will be able to apply with a cosigner.

To qualify for this loan:
The borrower must be a U.S. citizen or permanent resident.
The borrower 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.
The borrower and cosigner must be of legal age as defined by their state of permanent residence.
The borrower or cosigner must have at least 2 years of positive credit history and meet other creditworthy requirements.
The borrower or cosigner must have an annual income of $24,000 or greater for the past 2 years to qualify for the iHELP Consolidation Program.
The borrower or cosigner may not exceed the debt to income threshold of 45%. The minimum loan amount is $10,000.

The maximum loan amount is:
Undergraduate: $250,000
Graduate: $250,000

How does the application process work?
If you are applying without a cosigner:

1. You will need to select “Apply Now” and login or register (if you are not currently registered).
2. We will ask you to answer a few initial questions, provide some personal information and indicate if you are going to apply with a cosigner. You can complete any part of the application in any order.
3. We will provide you with an instant online credit decision. We will also email you the results. If you are approved you will be able to move forward in the application. If you are declined you may have the opportunity to apply with a cosigner.
4. The next step will be to choose one of the signing options. You can print, sign and mail in the application or you can electronically (eSign) the application.
5. Be sure to submit your application.
6. The promissory note, self-certification and disclosures will be available in step 5; “Let’s Finish”. Step 5 will also explain what supporting documents need to be provided and how the school certification information is gathered and processed.

If you are applying with a cosigner:

1. The borrower will need to select Apply Now and login or register (if you are not currently registered).
2. As the borrower we will ask you to answer a few initial questions, provide some personal information and indicate if you are going to apply with a cosigner. You can complete parts of the application in any order.
3. The borrower can invite a cosigner.
4. The borrower will have a Connection page within the application. From this page is where the borrower can send an email invitation to the cosigner. The email invitation will contain a link for the cosigner to click on for them to start their application. The cosigner must receive this email before starting the application.
5. You will still see and fill out seperate applications while you are in the online application but once you both submit your applications we will electronically combine them into one application.
6. We will ask you to provide some personal information and references. Any part of the application can be completed in any order.
7. We will provide you with an instant online credit decision. We will also email you the results. If the cosigner is pre-approved they will be able to move forward and select a signing option – either eSign or print, sign and mail. If the cosigner is declined you may have the opportunity to apply with a new cosigner.
8. For you and your cosigner the next step will be to choose how you want to sign the application. You can print, sign and mail in the application or you can electronically (eSign) the application.
9. The final step is to submit the application.
10. It is important to remember that we must have both your signature and the cosigners on the same application.
11. Be sure to submit your application.
12. The promissory note, self-certification and disclosures will be available in step 5; “Let’s Finish”. Step 5 will also explain what supporting documents need to be provided and how the school certification information is gathered and processed.

Repayment Terms

iHELP Private Student Loan
INTEREST RATE
The Interest Rate and APR are variable for the life of the loan.
The Variable Rate is based upon the three month LIBOR Rate.
The LIBOR Rate and APR may increase after the loan is made.
The interest rate you qualify for is dependent upon your credit or your cosigner’s credit.

FEES
$0 – There is no Origination Fee for this loan.
$0 – There is no Repayment Fee for this loan.

VARIABLE RATES RANGE FROM
LIBOR + 2.50% (3.89% APR)
LIBOR + 4.50% (5.75% APR)
LIBOR + 5.75% (6.89% APR)
LIBOR + 8.50% (9.32% APR)

iHELP Consolidation Loan
INTEREST RATE
The Interest Rate and APR are either fixed or variable for the life of the loan depending on the loan program you choose.
The Variable Rate is based upon the three month LIBOR Rate.
The LIBOR Rate and APR may increase after the loan is made.
The interest rate you qualify for is dependent upon your credit or your cosigner’s credit.

FEES
$0 – There are no Supplemental Fees charged to the borrower.

INTEREST RATE FOR THE LIFE OF THE LOAN
4.75% – 8.00%
10 year fixed rates

5.50% – 9.00%
15 year fixed rates

LIBOR + 2.50% – LIBOR + 8.50%
20 year variable rates

Customer Support

+1 800-645-7404
ihelp@slfc.com

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