Washington, D.C. (Nov. 17, 2017)—The Independent Community Bankers of America® (ICBA) has extended its Preferred Service Provider relationship with iHELP® to help students and their families cover the gap between the cost of education and other financial resources such as scholarships, grants and federal student loans. More than 450 ICBA community bank members have participated in the program, providing more than $300 million in private student loans to more than 22,000 students since the program’s inception in 2000.
“Rising tuition costs should not derail higher education goals,” said Chris Lorence, ICBA group executive vice president of member engagement and strategy. “Through the iHELP loan program, community banks can provide financial resources and guidance to help students achieve higher education and make informed decisions that will affect their future career prospects and long-term financial goals.”
iHELP provides community banks with more opportunities to meet their customers’ educational financial needs while diversifying their portfolios and attracting new customers. ReliaMax Surety provides insurance services for community banks on all iHELP loans.
The iHELP program is fully administered by Reunion Student Loan Finance Corp. (RSLFC), which provides ICBA community bank members with a turnkey loan origination, servicing and compliance solution supported by RSLFC staff. Additionally, iHELP offers a student loan consolidation program to help college graduates simplify and lower their monthly payments and take greater control of their financial planning. For more information, visit www.ihelploan.com.
“Our nearly 20-year partnership with ICBA has been instrumental in making funding for education available to students and their families,” said Steve Kohles, president and CEO of RSLFC. “ICBA community bank members provide outstanding products and services that their customers need and want.”
The Independent Community Bankers of America®, the nation’s voice for more than 5,700 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit www.icba.org.
About iHELP private student loans
The iHELP Private Student Loan Program is currently provided through more than 300 community minded member banks of the Independent Community Bankers of America (ICBA). iHELP and its lending partners are committed to helping students and their families make informed decisions about their plans for higher education. Reunion Student Loan Finance Corp. administers iHELP for its banks and has nearly 40 years of experience in the student loan business. www.ihelploan.com.