INDUSTRY NEWS FROM OUR MEMBERS DETAILS

EDUCATION LENDER EXPANDS CONSOLIDATION OPPORTUNITIES

Jan 22, 2018
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Aberdeen, SD, January 10, 2018– To meet the rising costs of postsecondary education, iHELP Student Loans has made financing more available to all borrowers with student loan debt. Effective immediately, all students who have attended any institution are eligible to consolidate student loan debt with an iHELP Consolidation Loan.

“The prospect of paying for college and figuring out the best way to manage repayment can be overwhelming. This is a time at which students and their families need transparency and a trusted advisor to understand what their options are and what a loan entails,” explained Maria Sevareid, Marketing Manager

Student loan consolidation combines all current student loans into one manageable loan. This potentially gives the borrower a lower monthly payment, fewer monthly bills and sometimes even a lower interest rate.

“The iHELP consolidation program is now more flexible and competitive as it allows consolidation of loans from any school. Plus, both federal, including Parent PLUS, and private student loans can be included in the loan.” – Spencer Aberle, Chief Operating Officer

Borrowers have the choice of flexible repayment options and can choose from either fixed or variable rates. An iHELP Consolidation loan offers the option to release a cosigner after 24 months of consecutive on time payments.

“Private student loan consolidation products are a great way to provide graduates with more repayment options, take control of their financial planning and to save money,” explained Aberle.

Borrowers must meet certain credit history and income levels, or have a qualifying cosigner. There is no penalty if the loan is paid ahead of schedule. Credit criteria for consolidating loans through iHELP can be found at iHELPloan.com or by calling an iHELP Loan Consolidation Specialist at 1-800-645-7404.

If you would like more information about this topic, visit iHELPloan.com or contact Maria Sevareid at (605) 622-4507 or email at marias@slfc.com.

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About iHELP Student Loans – Based in Aberdeen, South Dakota, iHELP gives students and their families an opportunity to work with a real person, who understands student loan financing inside and out. Administered by RSLFC, student loans are made affordable by leveraging the financial strength of thousands of community banks.