Lana Oconnell
EDvestinU is a private student loan product of Granite Edvance, a nonprofit organisation based in New Hampshire. It provides undergraduate and graduate students with competitive private student loans, making higher education more accessible. EDvestinU offers refinancing options for students who wish to refinance all or some of their loans while still enrolled in school. Students or their co-signers must meet certain requirements, including being a U.S. citizen or eligible non-citizen, being enrolled at least half-time at an eligible college or university, meeting credit requirements, and having a minimum individual annual gross income of $30,000. To pay your EDvestinU student loan, you can contact Firstmark Services at 844-399-7535 or secure.firstmarkservices.com.
| Characteristics | Values |
|---|---|
| Loan provider | Granite Edvance |
| Loan type | Private student loan |
| Interest rates | Fixed and variable rates available |
| Loan amount | $7,500 to $200,000 |
| Loan term | 5, 10, 15 or 20 years |
| Eligibility requirements | Be a U.S. citizen or eligible non-citizen, be enrolled at least half-time at an eligible college or university, meet credit requirements, have a minimum individual annual gross income of $30,000 ($50,000 for refinance balances over $100,000) |
| Application process | Apply online or schedule an in-person appointment or phone call with a loan specialist, fill out an application and upload required documentation, review rates, loan terms and other details, sign loan documentation |
| Approval time | Up to 10 business days |
| Loan disbursement | Disbursed directly to the school on their preferred date(s) |
| Repayment | Monthly payments on principal and interest, option for interest-only payments, hardship forbearance available for up to 24 months |
| Customer service | In-house customer service team available, one-on-one in-person assistance available for New Hampshire residents |
| Loan discharge | In the event of the borrower's death or total and permanent disability |
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What You'll Learn
- EdvestinU loans are not eligible for student loan forgiveness
- EdvestinU offers refinancing options for existing student loans
- EdvestinU provides loans for undergraduate and graduate students
- Granite Edvance, a 60-year-old nonprofit, owns EdvestinU
- EdvestinU borrowers can contact Firstmark Services for payment issues
EdvestinU loans are not eligible for student loan forgiveness
EdvestinU is a private student loan product of Granite Edvance, a nonprofit organisation based in New Hampshire. It provides undergraduate and graduate students with competitive private student loans to make higher education more accessible.
While EdvestinU offers refinancing options for student loans, its loans are not eligible for student loan forgiveness. This means that, unlike federal student loans, EdvestinU loans cannot be forgiven or cancelled, except in the case of the borrower's death. In this tragic circumstance, the remaining debt on the loan would be cancelled for both the borrower and the cosigner (if applicable). However, state laws may apply regarding total and permanent disability discharge.
It is important to note that EdvestinU is not a federal student loan provider. Federal student loans are funded and guaranteed by the government and can offer financial aid such as grants and scholarships. Before taking out a private student loan, such as those offered by EdvestinU, it is recommended to first explore federal loan options by submitting the Free Application for Federal Student Aid (FAFSA).
Comparing different private student loan options is also advisable to ensure borrowers get the best rate they qualify for. In addition to interest rates, borrowers should consider lenders' repayment alternatives and the flexibility they offer to those who struggle to make payments. EdvestinU, for example, offers an optional 0.25% automatic debit discount, which can reduce monthly payments and the overall loan cost.
To apply for an EdvestinU loan, borrowers can visit the EdvestinU website, where they can review loan details, complete an online application, and upload required documentation. The loan information is then sent to the borrower's school for certification and disbursement.
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EdvestinU offers refinancing options for existing student loans
EdvestinU's refinancing option allows borrowers to refinance both federal and private student loans into a single new loan with a new interest rate and repayment term. This can help to reduce monthly payments and potentially lower the total cost of the loan. The refinancing option is best suited for students who did not graduate and borrowers with a qualified co-signer.
The refinancing process with EdvestinU involves pre-qualifying and receiving custom rates, reviewing loan details and completing the online application, uploading required loan documentation, and reviewing rates and signing loan documentation. EdvestinU offers an optional 0.25% automatic debit discount, which can help borrowers reduce their interest rates.
It is important to note that EdvestinU does not allow students to take over parent PLUS loans borrowed on their behalf. The maximum loan amount for refinancing with EdvestinU is $200,000, which is lower than what most lenders offer. Before choosing EdvestinU, borrowers are encouraged to explore various refinancing options and compare interest rates, repayment alternatives, and flexibility offered by different lenders.
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EdvestinU provides loans for undergraduate and graduate students
EdvestinU is a private student loan product offered by Granite Edvance Corporation, a New Hampshire-based nonprofit. They provide competitive private student loans for undergraduate and graduate students, making higher education more accessible. Their loans are available to US citizens and eligible non-citizens (including international students) who meet the credit and income requirements or apply with an eligible co-signer.
The loan process is straightforward, with a short waiting period. Applicants are informed of their progress from application to disbursement. The Customer Experience Team is available Monday to Thursday, 8 am–8 pm EST, and Friday, 8 am–5 pm EST.
To apply, you must first pre-qualify and receive custom rates without affecting your credit score. You can then review the loan details and complete the secure online application. This step will impact your credit score. Next, upload the required loan documentation to your account, review your rates, configure your loan terms, and sign the loan documentation. Finally, your loan information will be sent to your school for certification. Once certified, the loan will be disbursed directly to your school on their preferred date(s).
It is important to note that EdvestinU loans are not eligible for student loan forgiveness. However, in the event of the borrower's death, the remaining indebtedness on the loan would be cancelled for both the borrower and co-signer (if applicable).
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Granite Edvance, a 60-year-old nonprofit, owns EdvestinU
EdvestinU is a private student loan product offered by Granite Edvance Corporation, a New Hampshire-based nonprofit that has been in operation for 60 years. Granite Edvance offers a range of loan options for undergraduate, graduate, and international students, as well as student loan refinancing options.
The organisation aims to empower students of all ages and backgrounds to achieve their educational and career goals. They provide funding for New Hampshire residents attending college, as well as those who are residents of the state. Granite Edvance also offers refinancing options for federal, private, or PLUS education loans, allowing borrowers to combine multiple education loans into a new refinance loan.
EdvestinU has received positive reviews from customers who have praised the smooth application process, with helpful and informative staff keeping them updated from application to disbursement. The loan process is reported to be straightforward, with a short waiting period.
In addition to its private student loans, EdvestinU also offers refinancing options for those looking to secure a new loan with better terms and conditions to pay off existing student loans. This includes refinancing parent PLUS loans, with a maximum loan amount of $200,000. However, it is important to note that EdvestinU loans are not eligible for student loan forgiveness, and borrowers should consider federal loan options first before turning to private lenders.
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EdvestinU borrowers can contact Firstmark Services for payment issues
EdvestinU is a private student loan product of Granite Edvance, a nonprofit organisation based in New Hampshire. It provides undergraduate and graduate students with competitive private student loans, making higher education more accessible.
If you are an EdvestinU borrower and are experiencing difficulties in making payments, you can contact Firstmark Services, their loan servicer, at 844-399-7535 to discuss your options. Firstmark Services is available by phone Monday through Friday from 8 a.m. to 9 p.m. ET. You can also reach them online at secure.firstmarkservices.com or by email at [email protected].
It is important to note that EdvestinU loans are not eligible for student loan forgiveness. However, in the unfortunate event of the borrower's death, the remaining debt on the loan would be cancelled for both the borrower and co-signer, if applicable. Additionally, EdvestinU offers a hardship forbearance option for up to 24 months for borrowers facing financial difficulties. Students enrolled at least half-time can also choose an in-school deferment, postponing payments during the repayment period.
Before taking out an EdvestinU student loan, it is recommended to explore federal student loan options first by submitting the Free Application for Federal Student Aid (FAFSA). Comparing various private student loan options is also advisable to ensure you get the best rate and terms that fit your needs.
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Frequently asked questions
You can pay your EdvestinU student loan online by logging into your MyAccount portal, powered by Campus Door.
If you are unable to log in to your MyAccount portal, you can call or email EdvestinU at (855) 887-5430 or [email protected].
EdvestinU borrowers with private loans should contact Firstmark Services at secure.firstmarkservices.com or (844) 399-7535.
