iHelp Review: Student Loan Refinancing and Private Student Loans

Whatever your student loan needs, iHelp can help. Learn more about iHelp student loans review, eligibility criteria, and more.

By Matt Carter

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Written by

Matt Carter

Freelance writer

Matt Carter has covered mortgages and student loans for over 20 years. He has provided his financial insight to CNBC, CNN Money, The New York Times, The Wall Street Journal, and The Washington Post.

Edited by Ashley Harrison

Written by

Ashley Harrison

Freelance writer

Ashley Harrison has over six years of finance experience and is an expert on credit and loans. Her work has been featured by Fox Business and Yahoo Money.

Updated April 1, 2024

Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”

If you’re looking for private student loans or wondering whether you should refinance your current student loans, iHelp could be the right lender for you.

iHelp student loan refinancing overview

You should consider refinancing your student loans to get a lower interest rate or a more manageable payment.

Though iHelp calls its student loan refinancing a “consolidation loan,” it’s important to note that it’s actually refinancing, which is very different from the federal student loan consolidation process.

Here are a few perks of refinancing your student loans with iHelp:

Loan amounts	$10,000-$150,000 (undergraduate degree) and $10,000-$250,000 (graduate degree)
Loan terms	10, 15, and 20 years
Loan qualifications	Refinance federal, private, and ParentPLUS loans
Discounts	0.25% rate discount for payments made with automatic debit
Income	Must be employed for at least two years with a minimum income of $24,000
Fees	No fees
Education	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
Citizenship/Residency	U.S. citizen or permanent resident
Cosigner release	Cosigners may be eligible for release at any time after 24 months of consecutive on-time payments have been made, provided the borrower can meet the credit requirement at that time
Other perks	- Request up to two years of interest only payments as well as a graduated repayment schedule - Forbearance available for qualified borrowers
Loan servicer	Student Loan Finance Corporation

How to refinance with iHelp

iHelp can be an excellent match for specific borrowers, especially if you want to support your local community. Each refinancing lender determines the rate they’ll offer you on a case-by-case basis — so it’s impossible to know your lowest possible rate without comparing multiple lenders.

Current student loan rates

iHelp private student loans overview

In addition to offering student loan refinancing, iHelp can also help borrowers currently enrolled in school and looking for a private student loan to help fund their education.

Here are a few perks of choosing a private student loan from iHelp:

Loan amounts	Minimum loan amount of $1,000 ($3,000 for Georgia residents) Maximum of $100,000 for undergraduates and $150,000 for graduates
Loan terms	20 years
Fees	0.30% interest rate reduction for borrowers that qualified for the SOFR + 7.50% interest rate after 24 months of on-time payments. LIBOR has been replaced by SOFR — Secured Overnight Financing Rate — as of June 30, 2023
Discounts	0.25% rate discount for payments made with automatic debit
Citizenship/Residency:	Borrower or cosigner must be US citizen or permanent resident
Enrollment	Must be enrolled at least half time in an iHELP eligible school
Income	Borrower or cosigner must have at least 2 years of positive credit history and annual income of $24,000 or more
Repayment	Full deferment, interest only payments and principal and interest payments
Cosigner info	Cosigner release available after 24 months of on-time payments
Loan servicer	Student Loan Finance Corporation

How to get private student loans with iHelp

Before taking out a private student loan with iHelp or any other lender, exhaust all of your federal student loan options. If you’re still struggling to pay for college, compare student loans from multiple lenders to ensure you’re getting the best rates and terms for you.

Meet the expert:

Matt Carter

Twitter

Matt Carter has covered mortgages and student loans for over 20 years. He has provided his financial insight to CNBC, CNN Money, The New York Times, The Wall Street Journal, and The Washington Post.