Simple and understandable loan terms:

• iHELP is an affordable student loan provided by Student Loan Finance Corporation, a reputable company in the student loan business for over 30 years, and is sponsored by the Independent Community Bankers of America, an association of over 6,000 local community banks across the United States.
• The iHELP program provides private student loans designed to supplement, but not replace scholarships, grants and other financial aid including Federal Student Loans currently offered on college campuses. Please find out about all your Federal Student Aid options. Then if you still have a college financing gap, the iHELP student loan is a great low interest way to pay for all your remaining college costs. iHELP compares very favorably to many of the existing student loan programs being offered by major banks today - please see the current Comparison Chart of the maximum APR's being charged on the ihelploan.com website.
• One low interest rate for everyone.
  • ✓There are no teaser rates or "as low as rates" for which few, if any people actually qualify. Our program has one low interest rate and one set of modest loan fees for all borrowers. It's simple and understandable.
  • ✓The program has chosen to include some loan fees to keep the interest rate as low as possible. These fees are also clear and provided to you before you apply. The combination of low fees and a low interest rate makes iHELP a very affordable and competitively priced loan. That is why you should always compare the Annual Percentage Rate (APR) with identical variables to compare true loan costs. We can help you make that comparison with our loan calculator.
• You will know all of your loan terms BEFORE you are asked to actually apply.
  • ✓Some programs require you to go all the way through the loan origination process in order to find out what your rates and fees are. We tell you what your interest rate is and what your fees will be prior to your submitting an application, or even giving us your Social Security Number.
• An interest rate reduction of .25% is available during repayment.
  • ✓Using auto debit, which helps you make your payments on time, gives you an interest rate reduction of .25%.

Loan Fees:

• Fees only apply if you qualify and accept the loan; fees are added to your loan amount not deducted from your loan
  • ✓$97.00 Origination Fee
  • ✓Guarantee Fee of:
    • 2.00% at disbursements plus
    • 3.00% for cosigned loans at repayment or
    • 5.00% for non-cosigned loans at repayment
• Fees have only a modest impact on your overall Annual Percentage Rate (APR), the best way to identify the true cost of your loan. Be sure to compare APR's not just interest rates or fees to get the true cost of your loan.

Click Here To Close

The interest rate itself:

• The interest rate is variable and is adjusted quarterly over the life of the loan.
• Interest rate is set equal to the three month LIBOR rate + 6.00%. Over the past 10 years LIBOR has averaged about 2.75% and has been as high as 6.82% and as low as 0.25%.
• You do not need to pay your accruing interest while you are in school. You can let that interest accrue and be added to your loan balance at repayment. That interest will be capitalized (added) to your principal balance just once - at repayment - rather than monthly, quarterly or annually like some programs. This will also save you interest costs

A loan students (and parents) actually like:

• Likely your parents or some other credit worthy individual will need to cosign with you in order to meet the following eligibility criteria:
  • ✓The applicant must be a U.S. citizen or permanent resident
  • ✓Enrolled at least half time at an eligible not for profit college
  • ✓At least the age of majority at the time of the application based on state of permanent residence
  • ✓At least 3 years of credit history or apply with a cosigner who meets that credit history requirement
  • ✓Minimum income requirement of $18,000. Cosigner (if applicable) must have a debt to income ratio not to exceed 45%.
• Cosigner release early into repayment
  • ✓If you meet the credit requirements, we will release your cosigner after 48 months of repayment. Your parents will not need to be obligated on the loan beyond that time.
• No membership to join or other accounts to open
  • ✓We are not a Credit union that you have to join or a bank that requires you to have other accounts.
• No fees are deducted from your loan
  • ✓All of the fees are added to your loan so that the loan amount for which you are eligible is the amount you will receive.

Loan Limits:

• $1,000 minimum loan amount
• Maximum amount is determined by cost of education less other financial aid awarded your school will identify this for you
• $100,000 maximum aggregate limit for undergraduate borrowers
• $150,000 maximum aggregate limit for graduate borrowers

Click Here To Close

Convenient repayment options:

• No payments required while in school
  • ✓You can pay interest as it accrues during the in school period and we encourage you to do so, however no payments are required while you are in school and for 6 months afterwards
• Up to 20 years to repay
  • ✓This will increase that total of your payments, but give you the smallest monthly payments.
• No prepayment penalties
  • ✓If you want to pay your loan off early, no problem and no penalty
• Six month grace period upon entering repayment.
  • ✓This is the time you need to find a job and get settled in
• Deferment and forbearance options.
  • ✓If you go back to school or can't make payments for a while, forbearance options will be available.
• 0.25% interest rate reduction for automatic payment deductions.

Your application process is easy:

• Apply on line in as little as 15 minutes
• Loans available for all of your school costs, not just tuition
  • ✓This will include room and board, transportation and other costs determined by your school
• Although not required, it is a very good idea to explore your other financial aid options first
• Talk to the Financial Aid office at your school and apply for scholarships, grants and Federal Loans

Click Here To Close