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ReliaMax Review


Rating: 8.9 / 10 (Excellent)
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ReliaMax Surety Company was created in 2006 for the purpose of acquiring HEMAR, a private student loan business founded in 1986. ReliaMax currently provides insurance solutions for over 400 financial institutions throughout the nation and insures loans for qualifying students attending public and private colleges and universities.

ReliaMax - Overview

ReliaMax is an online portal that acts as a go between for student borrowers and lending institutions. The company offers administration, origination, servicing and insurance services and provides up to 100% protection against loan defaults. ReliaMax is basically an insurance company that partners with over 500 banks and credit unions, as well as online aggregators, to issue student loans with more favorable terms to both lenders and borrowers because they are insured. The company originally began insuring student loans as HEMAR Insurance Corporation of America in 1986, but was purchased by the newly formed ReliaMax in 2006. In the acquisition ReliaMax came into possession of HEMAR's data, hardware, software, and analytics and began insuring student loans of their own. To date, the company has insured over $3 billion in private student loans. 

ReliaMax is domiciled and and licensed as an insurance carrier in South Dakota. They are the country's only insurer of private student loans.

Student Loans Offered - ReliaMax Connext

The bulk of ReliaMax's business is connecting students with in-school private undergraduate and graduate loans. To that end ReliaMax powers its Connext Private Student Loan solution. These loans can either finance the education outright, or be used to supplement a shortfall in federal loans. ReliaMax partners with lenders and fully administrates the entire loan process from origination to pay off. The company deals 100% with the borrower, offering customer assistance and advice. As the one taking out the student loan, you get the benefit of a personal relationship with ReliaMax experts who will customize your payment plan to your budget and offer options in times of financial hardship.

  • Undergraduate
  • Graduate
  • Refinance

Maximum Loan Limit

Minimum Loan Amount

varies by lender

Maximum Loan Amount

varies by lender

 

Repayment Options

ReliaMax runs a tight ship and reports late payments monthly to credit bureaus. As an insurer, the company is able to provide private loans to customers with favorable terms. The flip side to this is, since they are guaranteeing loans for the lender, they encourage fiscally responsible habits from the borrower and assist them in planning their repayment strategy. In light of this, the company offers several repayment options:

  • Immediate Repayment of principal and interest
  • In-School Deferment
  • Interest-Only Repayment — pay interest only while in school
  • Partial Interest — set ammount partial interest payments while in school

Student Loan Rates

Fixed Rate

Variable Rate

Examples of the lowest interest rates ReliaMax offers through its Connext® loans for undergraduate and graduate programs are:

Variable: 2.87%
Fixed: 5.40%

Loan Terms

The repayment period for ReliaMax loans completely depends on the individual lender's terms. Typically though, student loans can be paid off in 5, 7, 10, or 15 years.

Qualifying

Eligibility for ReliaMax's Connext Undergraduate or Connext Graduate loan programs are as follows:

  • Must be a US citizen or permanent resident
  • 18 years old
  • Meet given lender's credit requirements or have a cosigner who does
  • Enrolled at least half time at qualifying institution

Online Application

College Scholarship Search

Student Loan Calculator

Application Process Time

A few minutes

 

Loan Related Fees

Origination Fee

Loan Application Fee

Early Repayment Penalty

Student Loans with ReliaMax

One of the biggest advantages ReliaMax provides is expert assistance and customer service. ReliaMax loans are meant to be equally as attractive to the lender as the borrower. The company's representatives truly build a relationship with each student and their family to get an accurate picture of their financial situation and provide them with the best loan possible, along with a realistic plan for future payment.  And since the loans ReliaMax provides are of low risk to lenders, they are able to offer great rates and less stringent qualification. 


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Top Rated
9.5 / 10
  • Multiple In-School Repayment Options
  • Online Account Provided
  • Undergraduate and Graduate Student Loans Offered
  • Check Application Status Online
  • Loan E-signing
  • Free Scholarship Registration
  • BBB A+ Rating