- Rate discount for New Hampshire students and autopay
- No application, origination, or prepayment fees
- Loans starting at $1,000
- A loan quote requires a hard credit check
- $200,000 aggregate limit on loans
- Stringent credit score and income requirements to qualify
EDvestinU at a Glance
|Online experience||Student loan and refinancing payment calculators, no access to rates without a hard credit check, no mobile app, apply and pay bills online|
|Customer services and support||In-person consultations in NH, Education Resources team available by phone from 8 am–5 pm ET (Monday–Friday), 24/7 online account access, email support available at firstname.lastname@example.org|
|Repayment flexibility||Immediate repayment, interest-only repayment, deferred repayment, economic hardship deferment, discretionary forbearance for up to 12 months, cosigner release after 36 months of consecutive on-time payments, no disability discharge, no personalized repayment plans|
|Eligibility||A minimum credit score of 750 for individual borrowers, a minimum credit score of 675 for cosigners, minimum income of $30,000 per year for individual borrowers or cosigners, international students eligible with a cosigner, approved Title IV and nonprofit schools including community colleges|
|Variety of Loan Types||Variable and fixed-rate private student loans with and without a cosigner, student loan refinancing|
Founded in 1962, EDvestinU is the independent private student loan provider for the New Hampshire Higher Education Loan Corporation. It provides undergraduate and graduate loans, student loan refinancing, and a quarterly scholarship giveaway to US and international students nationwide. It is a TrustSpot verified company boasting an average user rating of 4.5 out of 5 stars. Currently, EDvestinU is not rated by the Better Business Bureau.
With its New Hampshire Students Incentive Program, EDvestinU is suited for New Hampshire residents and students attending college or university in the Granite State. Through the program, students qualify for a 1% rate reduction on fixed loans and a 0.25% reduction on variable loans. In addition to a rate reduction, New Hampshire students also receive customizable loan terms and access to local, in-person education support in Concord, NH. Students can contact customer service to inquire about customizable loan terms.
EDvestinU offers variable and fixed-rate loans with 7, 10, and 15-year repayment terms. If you wish to refinance an existing loan, you can choose between a 5, 10, 15, or 20-year term. Although students cannot pre-qualify for a quote online, you can estimate your interest rate and payments with EDvestinU’s student loan payment calculator. Loans of between $1,000–$200,000 are available and may be used for tuition and covered education expenses, including books and housing costs.
Proceeds from the provider’s loan programs support a quarterly $1,500 scholarship drawing and college access activities in public high schools throughout New Hampshire. In addition to allowing loan cosigners, EDvestinU grants the opportunity to release a cosigner after 36 months of consecutive on-time payments. While late payments may incur a 5% fee, EDvestinU does not charge any application, origination, deferment, disbursement, or repayment fees.
The Application Process
Students can complete a loan application entirely online on EDvestinU’s website. At this time, EDvestinU does not offer applicants the opportunity to get pre-approval for a loan. Additionally, a complete application requires a hard credit check.
Application documents may include:
- Government-issued photo ID (driver’s license, passport, etc.)
- Social security card
- Income verification for cosigners (pay stubs, tax docs, benefit award letter, etc.)
When evaluating your application, EDvestinU considers your income, credit score, loan amount, and payment history. If you apply with a cosigner, your cosigner’s income and credit score will also need to meet eligibility standards. The average loan application takes one week to review and complete.
EDvestinU student loans are available to US and international students nationwide. However, at this time, EDvestinU is not available to primary borrowers living in California or Washington. Additionally, international students must apply with an eligible cosigner. To qualify, primary borrowers must have a yearly income of at least $30,000 and a credit score of 750. If you apply with a cosigner, your cosigner must have an annual income of at least $30,000 and a credit score of 675.
Loan rates vary depending on your credit score, income, payment history, repayment terms, and loan amount. By signing up for automatic payments, you may qualify for a 0.50% interest rate reduction. If you receive the reduction, your APR for a variable loan may range from 2.20%–6.17%, while your APR for a fixed loan will be between 3.02%–7.72%. In addition to improving your chances of qualifying for a loan, applying with a cosigner may help you secure a lower rate. EDvestinU does not indicate your rate before completing a full application, which requires a hard credit check.
Repayment for variable and fixed-rate loans is available in 7, 10, and 15-year terms. If you sign up for automatic payments, you can qualify for a 0.50% interest rate reduction on your loan. With this reduction, APR for variable loans ranges from 2.20%–6.17%, while APR for fixed loans ranges from 3.02%–7.72%. EDvestinU offers immediate, interest-only, and deferred repayment options. Although it provides economic hardship deferment and forbearance for up to 12 months, EDvestinU does not provide disability discharge or loan forgiveness.
How Safe Is It?
To protect your information, EDvestinU maintains strict physical and technical controls. It encrypts secure areas of its website using Secure Socket Layer (SSL) technology and regularly screens for proper handling of personal information. In addition, EDVestinU does not sell user data to third parties.
Loan specialists are available for in-person consultations at EDvestinU’s office in Concord, NH. If you live outside of NH, phone support is offered from 8 am–5 pm ET, Monday–Friday. Existing borrowers may access account details online 24/7. Additionally, you can email questions to the Education Resources team at email@example.com.
EDvestinU’s knowledgeable loan specialists can help answer questions around loan details, repayment options, and account access.
How EDVestinU Compares
|APR||Variable APR from 2.20%–6.17%, fixed APR from 3.02%–7.72%||Variable APR from 0.99%–11.98%, fixed APR from 2.99%–12.99%||Variable APR from 1.15%–10.41%, fixed APR from 4.18%–10.95%|
|Minimum credit score||750 (individual borrower), 675 (with a cosigner)||Mid 600s||No set credit score requirement|
|Loan amounts||$1,000–$200,000||$1,000–100% of the cost of attendance||$1,000–100% of the cost of attendance (aggregate limits apply)|
|Suitable for||New Hampshire residents and students||Borrowers seeking flexible loan terms||Students seeking an advanced degree (law, medicine, etc.)|
Based in Concord, New Hampshire, EDvestinU is a private student loan provider that offers student loans, loan refinancing, and scholarships to US and international students nationwide. You can apply with or without a cosigner so long as you meet minimum income and credit score requirements. APR for variable loans ranges from 2.20%–6.17%, while APR for fixed loans ranges from 3.02%–7.72% with a 0.50% autopay reduction. New Hampshire students are eligible to receive an additional 1% reduction on fixed loans and 0.25% reduction on variable loans. While an application requires a hard credit check, EDvestinU does not charge application, origination, or prepayment fees.
This review was created with information from EDvestinU’s website, reviews on comparison sites, and conversations with customer service representatives.