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iHELP Student Loans Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
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iHelp is a private student lending program administered by Reunion Student Loan Finance Corporation, a student loan originator and servicer with over 30 years of experience in the industry, and the Independent Community Bankers of America.

It was founded in 1997 and is headquartered in Aberdeen, South Dakota.
 
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How is iHELP rated?

Breakdown

4.5/5
Loan Details
4.5/5
Eligibility Criteria
4.3/5
Customer Experience
5.0/5
Additional Benefits

Overall Rating: 4.6 / 5 (Excellent)

Compared to its competitors, iHELP only offers variable interest rates with three longer-than-average loan terms.

The program offers a low minimum loan amount, which will allow students to borrow small amounts, as well as deferment and forbearance programs.

iHELP promotes student lending from community banks instead of large lending institutions, which some students may find attractive.

iHELP Loan Specifics

Loan Details - 4.5 / 5

iHELP offers undergraduate and graduate student loans with a variable rate only.

It also offers three repayment options and three terms with a minimum loan amount of $1,000 available in most states.

There are no origination fees or a prepayment penalty. It also offers deferment, as well as forbearance on all loans.
Loan Types
Undergraduate
Graduate
Minimum Loan Amount
$1,000, $3,000 (Georgia only)
Maximum Loan Amount
$100,000 (undergraduate), $150,000 (graduate)
Loan Term
10, 15, or 20 years
Interest Rates
Variable
Repayment Options
Deferred
Fixed
Interest-Only
Grace Period
Deferment or Forbearance
Cosigner Release

Variable APR Range

4.75%-9.00%

iHELP Qualifications

Eligibility Criteria - 4.5 / 5

The applicant must be a U.S. citizen or permanent legal resident who has had an annual income of $24,000 or higher for more than two years as well as a positive credit history of three years or more.

A cosigner is not required on undergraduate or graduate loans.
Cosigner Required
Course Load
Half-time
Citizenship Requirement
U.S. Citizen
Permanent Legal Resident
Study Abroad Program Eligible

iHELP Customer Experience

Customer Experience - 4.3 / 5

The program provides an "instant online credit decision" and offers an interest rate reduction discount with a specific interest rate that starts after repayment of 24 consecutive repayments.

There is no student loan calculator on the program's website.
Student Loan Calculator
Online Quotes

Discounts

0.30% interest rate reduction, after graduation for the LIBOR + 8.50% interest after loan enters repayment and after 24 consecutive repayments.

iHELP Company Reputation

Additional Benefits - 5 / 5

iHELP is jointly administered by Reunion Student Loan Finance Corporation and the Independent Community Bankers Of America, which has a BBB rating of A+ with no negative reviews.

There is no Trustpilot rating or reviews.
Lender Type
Marketplace
Year Founded
1930
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
0
Date Collected
2018-03-29

Company Profile

Full Name
iHELP Student Loans
Company Website
https://www.slfc.com/ihelploan/
Headquarters
105 1st Ave SW, Aberdeen, SD, 57401
Mailing Address
PO Box 4500, Aberdeen, SD, 57402

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Top Rated
Our Partner

  • Competitive interest rates starting at 4.07% APR

  • Cover up to 100% of your cost of attendance: tuition, fees, and other costs2

  • Option to start repaying immediately or after you complete your degree

  • Choose how long it takes to repay your loan based on your budget

  • No application, origination, or prepayment fees

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