INvestED Snapshot

INvestED offers private student loans, parent loans, and student loan refinancing. INvestED’s student loan refinance offering is best if you are a resident of Indiana or student who attended school in Indiana seeking competitive interest rates and a variety of repayment options.

Fixed APR Range: 5.85% to 9.48%

Variable APR Range: 8.63% to 12.27%

Loan Amounts: $5,000 to $250,000

Minimum Credit Score: 670

Best Features Drawbacks
• Competitive interest rates
• You can refinance without a degree
• Offers up to 36 months of academic deferment


• Only available to students that are residents of or attended school in Indiana
• No biweekly payment via autopay
• You can’t refinance parent PLUS loans in your name
• Cosigner release option after 48 months of timely payments

What’s Inside

Best Features of Refinancing with INvestED

Competitive interest rates

When looking for a student loan, finding a low-interest rate is typically a top priority. If you qualify to refinance your student loans through INvestED, you’ll have access to competitive interest rates, and won’t have to pay origination fees, application fees, or prepayment penalties.

INvestED Student Loan Refinance
Fixed APR*5.85% – 9.48%
Variable APR*8.63% – 12.27%
*Rates as of November 1, 2023. May include 0.25% AutoPay Discount, which requires you to agree to make your scheduled monthly payments by an automatic monthly deduction (ACH) from a savings or checking account. 

You can refinance without a degree

While most lenders require you to have graduated in order to refinance, INvestED allows you to refinance in school and without a degree.

Offers up to 36 months of academic deferment

After refinancing your loan with INvestED, borrowers are eligible for up to 36 months of academic deferment if you decide to enroll in a graduate program at least half-time. This allows you to postpone making payments for 36 months while you pursue another degree.

Drawbacks of Refinancing with INvestED

Only available to students that are residents of or attended school in Indiana

While INvestED offers a high-quality student loan refinancing option, it is unfortunately only available to borrowers who are residents of Indiana or attended school in Indiana. If you are neither, you will need to apply with a different lender.

No biweekly payment via autopay

When you repay your student loan, your payments are due monthly by default. Instead, some borrowers choose to make biweekly payments via autopay, where you automatically pay half your monthly amount once every two weeks. Many borrowers use biweekly autopay in an effort to pay off their student debt faster and pay less in interest over the lifetime of the loan. 

Unfortunately, when you borrow through INvestED, you don’t have the option to make biweekly payments via autopay. 

You do, however, have the option to make greater-than-minimum payments via autopay. This means you have the option to pay more than your monthly balance in order to reduce the interest that accrues over time. With INvestED, you can set this up automatically so that the desired monthly payment is drawn from your bank account at the end of each month.

You can’t refinance parent PLUS loans in your name

If your parent has taken out a Parent PLUS loan or a private student loan in their name, your parent will not have the option to refinance that loan or transfer the loan to your name when refinancing with INvestED. 

Cosigner release option after 48 months

While INvestED offers the option to add a cosigner, their cosigner release policy does require 48 months of on-time payments, which is longer than some other lenders. INvestED could improve by offering a lower payment requirement for cosigner release.

INvestED: The Nuts and Bolts

Interest Rates, Fees, and Terms

Fixed APR Range5.85% to 9.48%
Variable APR Range8.63% to 12.27%
Loan Terms5, 10, or 15 years; 15-year term is only available for in-school refinancing.
Loan Amounts$5,000 to $250,000.
Ability to transfer a parent loan to the studentNo.
Application or Origination FeeNo.
Prepayment PenaltyNo.
Late FeesYes, 5% of the unpaid past due amount or $10, whichever is less.

Eligibility Requirements – Financial

Minimum Credit Score670.
Minimum Income$36,000.
Typical Credit Score of Approved Borrowers or CosignersDid not disclose.
Typical Income of Approved BorrowerDid not disclose.
Maximum Debt-to-Income Ratio50%.
Ability to qualify if you’ve filed for bankruptcyYes, but only after 5 years.

Eligibility Requirements – Personal

CitizenshipMust be a U.S. citizen or permanent resident.
LocationMust be a resident of Indiana or have attended a school in Indiana.
Must have graduatedNo.
Must have attended a school authorized to receive federal aidYes.
Percentage of borrowers who have a cosigner35%.

Repayment Options

Academic DefermentYes, up to 36 months of deferment for borrowers who enroll at least half-time at an eligible institution for a graduate degree.
Military DefermentYes.
Disability DefermentDid not disclose.
ForbearanceYes, up to 24 months of forbearance across the lifetime of the loan. Forbearance is available in increments of 1-3 months, and borrowers can only receive 2 forbearance periods in a 12-month period.
Cosigner ReleaseYes, after 48 months of on-time payments.
Death or Disability DischargeYes.
Loan discharge if cosigner dies or becomes disabledNo.
AutopayAllows for surplus payments via autopay: Yes.
Allows for biweekly payments via autopay: No.

Customer Service

Loan ServicerAmerican Education Services.
In-house Customer Service TeamYes.
Process for Escalating ConcernsYes.
Borrowers get assigned a personal customer service representativeNo.
Average time from approval to payoffAround 18 days.

Before you take out a loan from INvestED…  

Complete the Sparrow application to compare real rates from more than 15 different lenders to make sure you’re getting the best rate possible. 

See real rates, not rate ranges or estimates: Sparrow’s rates mimic those of our lenders so you know what rate you’re getting from each lender.  

No impact on your credit score: Checking your rates on Sparrow won’t impact your credit score.

Data Privacy: Sparrow doesn’t sell your information, so don’t worry about getting calls from that random number that won’t leave you alone. 

FAQ

Is INvestED a legitimate lender?

Yes, INvestED is a legitimate lender that has been working with students for over 40 years.

Is INvestED available in all 50 states?

No, INvestED is only available to borrowers who are studying in or residents of Indiana.

How long does it take to get an INvestED student loan?

Submitting an application through INvestED takes a few minutes. Once you’ve submitted your loan application, INvestED will instantaneously return a decision about your eligibility. If you qualify, you will receive the rate and terms of your loan.

It may take some time to actually receive your loan. Your school must approve the loan which may take between four to six weeks.

What happens if I don’t qualify for an INvestED student loan?

If you don’t qualify for an INvestED student loan, the company will inform you why. Depending on the reason, you may consider applying with a qualified cosigner or trying with a different lender. To check your rates across multiple lenders at once, try using Sparrow’s free search engine. In just two minutes, you can receive real, personalized offers from over 15 different lenders ready to help you. And best of all, it won’t impact your credit score.

Are INvestED student loans federal or private?

INvestED offers private student loans. Before you take out a private student loan, we recommend that you exhaust your federal funding options, including grants and scholarships.

Does applying for a loan through INvestED hurt my credit score? 

In order to see what rate you qualify for, INvestED conducts a hard credit check to verify your information. A hard credit check may temporarily impact your credit score.

See INvestED’s disclosures here.

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