EDvestinU Student Loan Refinance Review

Last Updated: September 21, 2021 by Melanie Hanson

Our Rating: B (Compare)

Loan Limits $7,500 – $200,000
Fixed Rates 3.91% – 6.53%*
Variable Rates 1.81% – 4.43% (21.00% Cap)
Terms 5, 10, 15 or 20 years
Min. Credit Score 700 (without co-signer)
Apply Link

*Lowest rates always include the 0.25% interest reduction for enrolling in auto-pay.

Skip to: Rates & Fees | Eligibility Requirements | Repayment Options | Consumer Reviews & Complaints | FAQ

EDvestinU® is a nonprofit direct lender and part of the New Hampshire Higher Education Assistance Foundation (NHHEAF) Network under New Hampshire Higher Education Loan Corporation (NHHELC). Refinance loans are serviced by Granite State Management & Resources (GSM&R).

Loan Refinancing Options
Private student loans
Private parent loans
Federal student loans
Federal Parent PLUS loans (in parent’s name only)

EDvestinU Refinance Rates & Fees

EDvestinU’s fixed rates are between 3.91% and 6.53%. Variable rates are between 1.81% and 4.43%. Lowest rates always include the 0.25% interest reduction for enrolling in auto-pay.

Refinance Loan Rates
Term Fixed Rate Variable Rate
5 Year 3.91% – 5.53% 1.81% – 3.43%
10 Year 4.41% – 6.03% 2.31% – 3.93%
15 Year 4.56% – 6.18% 2.46% – 4.08%
20 Year 4.91% – 6.53% 2.81% – 4.43%

Additional information about EDvestinU refinance rates:

  • Checking your rate with EDvestinU will not affect your credit score. They will conduct a soft, not hard, credit inquiry (learn the difference).
  • EDvestinU does offer a discount for setting up auto-pay: 0.25% interest rate reduction.
  • Variable rates are adjusted monthly based on the 1-month LIBOR (0.086% as of this writing) as it’s published in the “Money Rates” section of The Wall Street Journal on the last business day of each preceding calendar month plus a margin of 1.970% to 4.340%.
  • Variable rates are capped at 21.00%.

Student Loan Refinancing Calculator

Based on advertised rates, use the calculator below to determine what your new monthly payment and potential savings may be if you refinance with EDvestinU.

Additional Fees

Beyond interest rates, there are a number of fees a refinance lender may charge up-front or during the loan servicing period. Below is a list of these fees that EDvestinU does or does not charge.

Fee Type Amount Charged
Application Fee Undisclosed
Loan Origination Fee None
Disbursement Fee Undisclosed
Prepayment Penalty None
Late Payment Fee 5% of monthly payment amount
Returned Payment Fee Undisclosed
Collection Fee Unspecified
  1. Application fee – fee to apply for rates & approval.
  2. Loan origination fee – fee to create the new loan.
  3. Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.
  4. Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.
  5. Late payment fee – fee for making a late payment.
  6. Returned payment fee – fee for failed payments due to insufficient funds, also known as a “bounced check”.
  7. Collection fee – fee for collection activity on a defaulted debt. EDvestinU discloses: “In the event of a default, the borrower may incur additional collection charges as permitted under applicable law.”

Current Promotions & Offers

The 603 EDvantage™ program provides a 0.25% interest rate reduction to borrowers who are New Hampshire residents or who are attending a New Hampshire college or university.

EDvestinU also offers a 0.25% rate reduction for enrolling in autopay.

EDvestinU Refinance Eligibility Requirements

To qualify for refinancing with EDvestinU, all borrowers must meet the criteria below.

  • Citizenship Requirement: U.S. citizenship or permanent residence.
  • Income Requirement: a maximum 43% debt-to-income ratio -AND- a minimum gross income of $30,000 for loans up to $100,000 and $50,000 for loan balances above $100,000 (without an eligible co-signer).
  • Credit Score Requirement: 700 (without an eligible co-signer).
  • Graduation Requirement: none.
  • Location Requirement: none.

Additional restrictions apply for specific individuals and loans.

  • Refinance loan applications must include two references who do not share an address with the applicant.
  • Residents of the state of New Hampshire may be eligible for reduced finance charges.
  • Borrowers must not have any past defaulted loans, “foreclosures, repossessions, wage garnishments, unpaid tax liens, unpaid judgements or other public records having an open balance exceeding $100 during the last 7 years.”
  • Borrowers may not be involved in ongoing bankruptcy proceeding or had any bankruptcy filings during the past 10 years.

EDvestinU Student Loan Repayment Options

Lenders vary greatly on the benefits and options provided to borrowers during the loan servicing period. Additionally, benefits may only be available on a case-by-case basis. EDvestinU offers some relief options.

Deferment & Forbearance

EDvestinU offers deferment in the event of economic hardship. It is unclear what other conditions may make a borrower eligible for deferment, if any.

Refinance loan servicer GSMR may also offer some deferment or forbearance options.

Condition Coverage
Returning to grad school Undisclosed
Disability rehabilitation Undisclosed
Active military duty Undisclosed
Involuntary unemployment Undisclosed
Economic hardship Deferment, up to 12 months*
Natural disaster Undisclosed
Temporary hardship Undisclosed

*Deferment due to economic hardship is approved in 3-month increments up to a maximum of 12 months.

Additional Options

EDvestinU may offer other opportunities for relief or contract modification.

  • Borrowers may apply for 3-month deferment periods of up to 12 months total over the term of their loan.
  • Borrowers enrolled in school at least half–time may make interest-only payments.
  • Co-signer release after 36 consecutive qualifying payments.
  • Death / disability discharge is available in the unfortunate circumstance that a borrower passes away regardless of co-signer status.

EDvestinU Reviews, Complaints & Lawsuits

Beyond our own findings, our team also collected the most genuinely insightful customer experiences we could find, including any instances of legal action against the company in which the details became public.

EDvestinU Online Reviews

Because the NHHESLC launched EDvestinU just a few short years ago, there aren’t many customer reviews available on public forums. We’ve included what commentary we could find below for its value as unedited, uncensored, and unsolicited user experiences. Note that these reviews are unverified, may include inaccuracies, and may provide outdated information (about rates, bonus offers, etc.).

“Loan Amount: $49K Credit score ~760-800 (I don’t know why but 1 bureau has me 40 points below the other 2) Pre-cosigner: 5.45% Variable, 10-year, Deferred (EDvestinU via Credible) With cosigner (Dad): 3.35% Variable, 10-year, Deferred (EDvestinU via Credible)

Also if anyone doesn’t understand white/wealth privilege, I am literally a case study in that.”mbathrowaway152 on reddit, 6/19/2020

“It was a very easy process., I was walked through step by step on what I needed to do and the documents that I needed to get. Edvestinu website was very user friendly and they were very quick to get back with me with any questions and results of my loan refinance. Would definitely reccommend!”Hannah on TrustSpot, 2/2/2019

“There’s a graduate repayment plan or GRP for 1 year where you pay interest only with [a major lender]. I took advantage of this during my contract position. Also look into [comparison sites] to see if you can qualify for consolidation through another company. Personally I went with EDvestinU with a 20 year term, cutting my payments in half while I wait for life to make large payments possible.”vballboss on reddit, 9/7/2017

More (unfiltered) customer reviews of EDvestinU are available at TrustSpot.com (4.5 out of 5).

EDvestinU CFPB Complaints

As consumer finance companies, student loan refinancing lenders fall under the jurisdiction of the Consumer Financial Protection Bureau (CFPB), a federal agency. As part of its mission, the CFPB allows consumers to log official complaints. These complaints are publicly available on the CFPB official website.

Since June 2020, consumers have submitted 47 complaints about the New Hampshire Higher Education Loan Corporation (EDvestinU) to the CFPB for an average of 3.6 complaints per month.

The allegations made in these complaints are unverified, are not necessarily representative of all consumers’ experiences with EDvestinU, and may contain outdated information (about rates, bonus offers, etc.). Note that a lender with a large customer base is likely to have a higher number of complaints when compared with smaller lenders.

Line Graph: EDvestinU Consumer Complaints, Public Complaints Filed with the Consumer Financial Protection Bureau from June 2020 to July 2021

Below we have included the 3 most recent complaints (as of this writing) in which the consumer consented to share their details.

Complaint 4315083

“According to the federal law 15 USC 1605 ( a ) a finance charge is a ” sum of all charges ” payable directly or indirectly by the person to whom the credit is extended, and imposed directly or indirectly by the creditor as an incident to the extension of credit. So there should have no late payments in my credit report so there should have no late payments in my credit report.”

Complaint 4166536

“I had 4 private loans from lenders ( XXXX and XXXX ) serviced via XXXX company and I started my residency training in XX/XX/2020 and I submitted my residency verification documents in XX/XX/2020, however they kept denying my residency verification and default my loans in forbearance and keep default my loans into debt collection with delay payment fees and increased my loan interested rate. I kept trying to call them to resolve this issue and every time I received a reassurance that it will be fixed but they never have it resolved. In turned they kept asking me to submit an updated residency verification and more documents while I try my best to do it in time manner. This process delay for months while I still pay them monthly payment of minimal {$100.00} per month for each account. Please help!”

Complaint 4128691

“This company violated my consumer rights and heavily impacted my credit score on XXXX, XXXX and XXXX by sending them to collections and on my credit accounts it states that it was opened on XX/XX/XXXX and two others on XX/XX/XXXX ; I have no knowledge of this and want this removed due to fraudulence. According to the Fair Credit Reporting Act, Section 609 ( a ) ( 1 ) ( A ), ” It states an entity, company, person and etc. are required by federal law to verify – through the physical verification of the original signed consumer contract – any and all accounts an entity, company, person and etc. post on a credit report. ” And due to Grnte Dir Ln also known as XXXX/XXXX XXXX XXXX not being able to verify the account numerous of times nor provide any type of proof I would like this removed.”

For a full list of the 47 complaints made against NHHELC (EDvestinU) in the CFPB’s Consumer Complaint Database, click here.

EDvestinU Lawsuits

Since its launch in 2014, EDvestinU has not been subject to any lawsuit, criminal investigation, or other such legal activity.

Note that while this information is updated regularly, ongoing legal action is subject to change with no prior notice.

Frequently Asked Questions

These are the most common questions consumers have about student loan refinancing with EDvestinU.

  • Is EDvestinU good for refinancing student loans?
    EDvestinU is a good option for residents of the state of New Hampshire and/or borrowers who attended a New Hampshire college or university.
  • Are EDvestinU loans federal?
    EDvestinU loans are not federal. EDvestinU has no affiliation with the federal government or the U.S. Department of Education.
  • Does EDvestinU charge a prepayment penalty?
    There are no penalties for early payments or repaying a loan in full before its term is over.
  • Does checking your rates with EDvestinU hurt your credit score?
    For their prequalification process, EDvestinU performs a soft credit check, which will not hurt your credit score. If you proceed with an application, however, EDvestinU will perform a hard credit check that may affect your credit score.
  • Is EDvestinU a bank?
    EDvestinU is not a bank, nor is it affiliated with any bank.
  • Can I refinance a EDvestinU loan?
    You can refinance a EDvestinU student loan or a student loan from another private lender. There is no limit to the number of times a borrower may refinance with EDvestinU. Note, however, that every new line of credit requires a hard credit check that may affect your FICO score.
  • Can I refinance just some of my loans with EDvestinU?
    Yes, you can refinance some, all, or just one of your qualifying student loans with EDvestinU. You may choose to refinance your private loans only or refinance private and federal loans together.
  • Can I refinance loans that have already been refinanced?
    Yes, you can refinance loans as many times as you want with EDvestinU. Note that each time you refinance, you will have to submit a new application; every application requires a hard credit check that may affect your credit score.
  • Can my spouse and I refinance our loans together with EDvestinU?
    EDvestinU does not allow for this manner of debt consolidation. Only primary borrowers may apply to refinance their loans.
  • How long does it take to refinance with EDvestinU?
    Refinancing with EDvestinU takes at least 4 weeks. Your refinance loan’s first payment comes due 30-45 days after disbursement.
  • Who services EDvestinU refinance loans?
    Granite State Management & Resources (GSM&R) services refinance loans from EDvestinU.
  • Does EDvestinU offer a grace period?
    No, EDvestinU does not offer a grace period.
  • How often do variable rates change?
    EDvestinU updates its variable rates monthly according to the 1-month LIBOR as it is reported in the “Money Rates” section of The Wall Street Journal on the last business day of each preceding calendar month.
  • Can I get any special rates or discounts with EDvestinU ?
    In addition to an autopay discount, New Hampshire residents or students who used their loans to attend a New Hampshire college or university may be eligible for further reduction from EDvestinU.
  • What happens if I file for bankruptcy?
    Filing for bankruptcy does not necessarily discharge an EDvestinU refinance loan.
  • Is EDvestinU a Credible lender?
    Yes, EDvestinU does partner with Credible as part of its lender marketplace.

Compare Student Loan Refinance Reviews

Lender Rating
Advantage B+
Brazos A
Citizens Bank B-
College Ave A-
CommonBond A+
Discover D+
Earnest B+
EDvestinU B
First Republic Bank B
First Tech Federal C-
iHelp D
Laurel Road A-
NaviRefi D-
Navy Federal C+
Nelnet Bank D-
PenFed B+
PNC Bank C
SELF Refi C+
SoFi B-
UW Credit Union A


  1. EDvestinU, Refinance Loan FAQ
  2. EDvestinU, Refinance Loan Rates & Terms
  3. Consumer Financial Protection Bureau, Consumer Complaint Database
  4. CampusDoor, Solicitation and Disclosure
  5. Dun & Bradstreet, Business Directory
  6. Better Business Bureau, Search Businesses and Charities