EDvestinU Student Loan Refinance Review

Our Rating: B- (Compare)

EDvestinU® may be a good option for residents of the state of New Hampshire or borrowers who attended a New Hampshire college. This nonprofit direct lender is part of the New Hampshire Higher Education Assistance Foundation (NHHEAF) Network.

Loan Limits $7,500 – $200,000
Fixed Rates 5.91%* – 9.78%
Variable Rates 6.46% – 8.21% (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

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 5.91% and 9.78%. Variable rates are between 6.46% and 8.21%. Note that the lowest rates always include a 0.25% interest rate reduction for enrolling in auto-pay.

In 2022, EDvestinU has increased its lowest available fixed rate for new loans 51.2% (from 3.91% APR) but raised the highest fixed rate 49.8% (from 6.53% APR). The lowest variable rate has increased 256.9% (from 1.81% APR) and the highest starting variable rate is up 85.3% (from 4.43% APR).

Refinance Loan Rates
Term Fixed Rate Variable Rate
5 Year 5.91% – 8.78% 6.46% – 7.21%
10 Year 6.41% – 9.28% 6.96% – 7.71%
15 Year 6.56% – 9.43% 7.11% – 7.86%
20 Year 6.91% – 9.78% 7.46% – 8.21%

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 30-day SOFR (3.75% as of this writing) as of the second-to-last business day of the previous month. Previously, variable rates were based on the 1-month LIBOR.
  • 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 Undisclosed
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

EDvestinU offers a 0.25% rate reduction for enrolling in automatic payments.

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: available in 48 states, excluding California and Washington.

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

EdvestinU has an unclaimed profile on TrustPilot.com with no reviews posted.

EDvestinU Consumer 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 16, 2020, consumers have submitted 75 complaints about the New Hampshire Higher Education Loan Corporation (EDvestinU) to the CFPB for an average of one (1) complaint every 11 days, 13 hours, which is over five (5) times as high as the average daily complaint rate among reviewed lenders.

In 2022, NHHELC’s consumer complaint rate is 65.8% lower (as of this writing) than it is in an average year. Zero (0) complaints specifically reference EDvestinU. In 2021, NHHELC received 39 complaints, which is 19.1% above its average annual complaint rate.

In 2020, consumers filed 27 complaints about the NHHELC, which is equivalent to one (1) complaint for every $2.030 million of that year’s corporate revenue or 13.5 complaints per employee.

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 2020's first fiscal quarter (2020Q1, 0 complaints), 2020Q2 (2), 2020Q3 (13), 2020Q4 (12), 2021Q1 (9), 2021Q2 (8), 2021Q3 (11), 2021Q4 (11)

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

Complaint 5919452

“From XXXX I have struggled and struggled with this company. Used to be granite state- they constantly were telling me on the phone to put loan into forbearance and said interest wouldnt matter. I listened and did as directed. That interest sure crept up after every forbearance ended and another one started. I struggled making payments. customer service was only about forbearance. I had to consolidate since granite wasnt going to be a company much longer from word of mouth. Now I have huge monthly payment, cant afford it. Would of saved me thousands if granite wouldnt of kept pressing forbearance. Than I was told by XXXX via phone call my loan is considered into the XXXX settlement. Called them months later and they acted like they new nothing. They had me call Ohio attorney general who than redirected me to another company. Im struggling mother here and I feel so betrayed and taken full advantage off by granite state loans. Interest sky high, to forbearance periods to income driven repayments to late payments. No one at that place were on the same page.”

Complaint 5703766
South Carolina

“In XXXX, my husband and I consolidated our student loans, otherwise known as spousal consolidation. At that time our combined loan balance was {$110000.00} with an 8 % interest rate. Today, despite paying a total of {$130000.00}, our balance is {$220000.00} and growing. Although we both have the required amount of payments as educators, we are excluded from the Public Servant Loan Forgiveness program, because of the spousal consolidation. Additionally, our balance continues to grow because of outrageous capitalized interest rules under the income based repayment plan which is intended to support borrowers with manageable payments. When we are in our XXXXs and set to retire, that inflated balance driven up by predatory interest will become taxable income under the XXXX plan. At that time we will have likely paid our loans back twice over, but the balance will be close to {$300000.00}. In no other industry would it be ethical to collect five times what was borrowed. We have spoken to our loan servicer many times and have been encouraged over the phone and via written communication to apply for PSLF, however we continue to not qualify because our loans are in spousal consolidation. We have attempted to convert them to a direct loan, but that is impossible under the law. In XXXX we were led to believe that we were being financially responsible by consolidating our loans, but it has turned out to be a discriminatory and predatory step that was allowed by the government for a short time. Spousal consolidations were ended in XXXX with no way to detangle and with no inclusion for loan forgiveness options offered to others.”

Complaint 5494378

“Granite State Resources and Management XXXXXXXX XXXX XXXXXXXX XXXX Early, mid, and end of early XXXX. For yrs as a single mother in section 8 I was given the only option of going into forbearance yr after yr. There was no other option of Income Driven repayment plans offered.”

For a full list of 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 may be a good option for residents of the state of New Hampshire and/or borrowers who attended a New Hampshire college or university.
  • Does EDvestinU have a minimum credit score requirement?
    Yes, EDvestinU requires a minimum credit score of 700 in order to qualify for student loan refinancing; a lower credit score may be acceptable if the borrower has a qualifying co-signer.
  • 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?
    EDvestinU does not disclose a timeline; 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?
    EDvestinU offers a 0.25% interest rate reduction with enrollment in automatic payments.
  • What happens if I file for bankruptcy?
    Filing for bankruptcy does not necessarily discharge an EDvestinU refinance loan.
  • Does EDvestinU partner with any major refinance lender marketplaces?
    EDvestinU does not partner with Credible as part of its multilender marketplace but does appear on its website as a featured lender. SuperMoney also advertises EDvestinU as a featured lender.

Compare Student Loan Refinance Reviews

Lender Rating
Brazos A
CommonBond A
Credible A
Advantage A-
Laurel Road A-
Mpower Financing A-
Splash Financial A-
Purefy B+
UW Credit Union B+
LendKey B+
College Ave B
PenFed B
SoFi B
Earnest B-
EDvestinU B-
INvestEd B-
Sparrow B-
Yrefy B-
Citizens Bank C+
Lend-Grow C+
SELF Refi C+
SuperMoney C+
First Tech Federal C
Navy Federal C-
First Republic Bank D+
iHelp D+
Discover D
Nelnet Bank D
PNC Bank D-
NaviRefi F


  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: New Hampshire Higher Education Loan Corporation
  6. Better Business Bureau, Search Businesses and Charities