iHelp Student Loan Refinance Review

Our Rating: C ⓘ (Compare)

iHELP® is the student lending program from ZuntaFi (formerly Reunion Student Loan Finance until September 2020). iHelp may be a fine choice for someone in an eligible U.S. state who values access to economic hardship forbearance.

*Lowest rates always include the 0.25% interest reduction for enrolling in auto-pay.
**Variable and fixed hybrid rates are only available with 20-year terms.

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

‡Parents may refinance their own parent loans -OR- transfer the debt to their child, but only if the child has graduated.

iHelp Refinance Rates & Fees

iHelp’s offers fixed and variable rates with no cap. There is a 20-year fixed hybrid rate available starting at 8.55% to 9.53% APR.

Note that the lowest rates always include the 0.25% interest reduction for enrolling in auto-pay.

†For loan terms of 20 years, the APR is a fixed hybrid rate, meaning it’s fixed for the first 5 years and is then adjusted every 5 years according to the Secured Overnight Financing Rate (SOFR).

Additional information about iHelp refinance rates:

• Checking your rate with iHelp will not affect your credit score. They will conduct a soft, not hard, credit inquiry (learn the difference).
• Variable rates are based on the 90-day SOFR (5.305% as of this writing) as published by the Federal Reserve Bank of New York rounded up to the nearest one-eighth of one percent (0.125%).
• Variable rates are not capped.

iHelp refinance rates recent history:

Over a two-year period (2022-2024) increased its highest and lowest available student refinance APRs by an average of 138%.

In 2023, iHelp increased its lowest fixed rate 51.5% (from 3.92% APR) and its highest fixed rate 113% (from 5.60% APR). iHelp’s variable rate increased 96.3% (from 4.31% APR) and its highest variable rate 83.9% (from 5.27% APR); its fixed hybrid rates went up 70.2% (from a low of 4.97% APR) and 69.8% (from a high of 5.56%).

In 2022, iHelp increased its lowest and highest variable rates 60.8% and 44.8%, respectively; fixed rates did no increase.

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 iHelp does or does not charge.

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; iHelp presumably considers a payment late on the first day it is overdue.
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.

Current Promotions & Offers

iHelp offers a 0.25% interest rate reduction with enrollment in automatic payments.

This lender also partners with local and community financial institutions in Maryland, Pennsylvania, Virginia, or West Virginia. These institutions may offer their own benefits and promotions in conjunction with iHelp.

iHelp Refinance Eligibility Requirements

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

• Citizenship Requirement: U.S. citizenship or permanent residence.
• Income Requirement: minimum $24,000 income for the past two (2) years and a debt-to-income ratio of 45% or less.
• Credit Score Requirement: 2-year credit history with no minimum score specified.
• Graduation Requirement: none.
• Location Requirement: limited to borrowers in Iowa, Maryland, Minnesota, North Dakota, Pennsylvania, South Dakota, Virginia, West Virginia, and Wisconsin.

Additional restrictions apply for specific individuals and loans.

• Applicants who do not meet the above criteria may still be eligible for refinancing if they have a co-signer who meets all qualifications.
• No previous defaults on any education loans.

iHelp 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. iHelp offers some relief options.

Deferment & Forbearance

iHelp does offer forbearance for unspecified periods.

Additional Options

iHelp may offer other opportunities for relief or contract modification, including alternative payment plans.

• Co-signer release is available after 24 months of qualifying, consecutive payments.
• Death / disability discharge is available in the unfortunate circumstance that a borrower passes away or suffers total permanent disability.
• With the income sensitive repayment plan, monthly payments are based on your gross income but are no less than the monthly interest accrual.
• A graduated repayment plan includes monthly payments that are greater than or equal to the monthly interest accrual. These payment amounts gradually increase.

iHelp 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.

iHelp Online Reviews

Few iHelp customer reviews are available on public forums. We’ve included what comments we found for their 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.).

“IHELP WORST PRIVATE LOAN COMPANY!

Background History: I had just graduated from college with my Bachelor’s in Biology and was ready to take the next step in my career by applying to a private health institute. The next step into any career whether its going to a graduate school or obtaining a Doctorates degree has to be funded through loans. What many school fail to educate students is how financial aid is no longer available once your reach a certain degree and the only way to fund your education is through loans.

Unfortunately, the school I wanted to attend was not accredited until the following year and the only way to fund my education was through private loans.

Fun Fact: Private loans can give you a lower interest rate than federal loans.

I came upon the organization called iHelp. I was approved for a loan at the beginning of the month of June, 2018 where I had signed everything and was ready to take the next step in my career. But on June 11, 2018 I was informed through my future classmates that iHelp is no longer associated with the school??? In fact, I never received a call about their current situation and In a matter of a month iHelp issue with their type of insurance in the state of Florida has ceased all loans.. . DO NOT ATTEMPT TO APPLY FOR A LOAN!!! I REPEAT DO NOT ATTEMPT TO APPLY FOR A LOAN!!!” – Anonymous on The College Investor, 7/13/2018

“I used iHelp, which I think I accessed through [a lender marketplace]. I refinanced with my husband as my co-signer, and we got a much, much better rate than I had with my old servicer. I’m really glad I did it – I’m saving $100 a month on what used to be a $415 payment, so my payments got cut by almost 25% a month. Part of the reason that’s the case is that my term is longer and part is the interest rate, but we just needed to get our mutual head out from underwater long enough to start getting ahead on this loan.

You’ll have to weigh your own situation, obviously – if you don’t think you’ll ever be able to make more than your monthly payment, refinancing with a longer term might not be a great choice unless you get such a huge reduction in your interest rate that it makes up for the longer term in the end.” – and_so_obvs on reddit, 12/3/2017

More (unfiltered) customer reviews of iHelp (ZuntaFi) are available at TrustPilot.com (4.4 out of 5).

iHelp 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.

Complaints about iHelp are filed under ZuntaFi Corp in the CFPB complaint database. Since August 2020, consumers have submitted 62 complaints about ZuntaFi Corp for an average of one (1) complaint every 28 ½ days, a complaint rate that is nearly twice as high as the average daily complaint rate among reviewed lenders.

In 2022, ZuntaFi’s consumer complaint rate is up 50.7% (as of this writing) compared to an average year. Also in an average year, consumers file one (1) complaint for every $417,323 in estimated corporate revenue or four (4) complaints for every 17 employees.

Between 2012 and September 2020, complaints about iHelp were filed under the Student Loan Finance Corporation name. During that time, the highest number of annual complaints SLFC saw was in 2014, when consumers filed 13 complaints to the CFPB.

The allegations made in these complaints are unverified, are not necessarily representative of all consumers’ experiences with iHelp, 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.

Consumers provided detailed narratives for 37 (60%) of all ZuntaFi complaints. Because ZuntaFi Corp services all iHelp refinance loans, we’ve included three (3) of the most recent complaints (as of this writing) in which the consumer consented to share their details.

Complaint 8512643
3/9/2024
Washington

“Zuntafi has still not provided competent evidence to substantiate the alleged debt. The call between me centers around them providing proper validation, signing, and returning the last XXXX pages of my letter ( the notice of adequate assurance of due performance ). I have not received the unaltered document with the affidavit, as requested by the alleged lender representative. The debt is still not validated with competent evidence. However, Zuntafi erroneously reports the compliance condition code to the consumer reporting agencies, including reporting as delinquent when the alleged debt and account is not validated with competent evidence. I have sent Zuntafi and the lender twice ( first on XX/XX/2023, and XX/XX/2023 ) a non-negotiable notice of adequate assurance of due performance, which has not been signed and returned. Zuntafi has failed to respond to the notice and dishonored the notice. Please see the attachment for the notice of non-negotiable notice of adequate assurance of due performance. Pursuant to 15 U.S.C. 1692 ( g ) ( 4 ) Validation of Debts, if you have evidence to validate your claim that the attached presentment of yours does not constitute fraudulent misrepresentation and that one owes this alleged debt, this is a demand that, within XXXX ( XXXX ) days, you provide such validation and supporting evidence to substantiate your claim. Until the requirements of the Fair Debt Collection Practices Act have been met and your claim is validated, you have no authority to continue any collection activities.”

Complaint 8648267
3/28/2024
Minnesota

“I contacted the Minnesota Attorney Generals office regarding my private student loans. The issued loans are deemed unlawful and meets the criteria of The Holder Rule as it pertains to the network of XXXX XXXX XXXX XXXX XXXX XXXX XXXX, and XXXX XXXX. Attached are the statute details supporting the loans that are in violation from XXXX XXXX from the defective good ( s ) and services that were provided by the XXXX XXXX XXXX XXXX, the loan has also been deemed to violate excessive usury as evident in the XXXX XXXX XXXX XXXX interest rates youve been collecting on. I requested both a discharge application as well as a full refund for past payments on both principal and interest, as they continue attempting to collect on a fraudulent private loan. That request has now been formally submitted ( XX/XX/24 ), ( XX/XX/24 ) regarding the loan/s.”

Complaint 8342316
2/15/2024
Tennessee

“I submitted a dispute to all 3 credit bureaus ( XXXX, XXXX and XXXX ) regarding a fraudulent student loan account that I noticed on my credit reports. There is a student loan account with a company called Zuntafi ( which I’ve never heard of ) and it is not mine. The results of my dispute with XXXX said that the company verified my information as being accurate and that this account belongs to me. This account was reportedly opened on XX/XX/2010 and I have documentation and records to prove that I was at XXXX basic training during that time, so it is extremely impossible that I opened this account. The report also shows that the account is being paid on monthly and I absolutely have no documentation of those payments coming from my account. I’ve never heard of this company, I never opened this account, and the payments for this loan are not coming from my bank account. I don’t know what else needs to be done to prove this account isn’t mine and needs to be removed from my credit report. They have no documentation to prove that this account was opened by me and they have no documentation to prove that these payments are coming from my account, because they are not!”

For a full list of complaints made against ZuntaFi in the CFPB’s Consumer Complaint Database, click here.

iHelp Lawsuits

ZuntaFi has not been subject to any major recent lawsuits. While this information is updated regularly, ongoing legal action is subject to change.

Frequently Asked Questions

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

• Is iHelp good for refinancing student loans?
  iHelp may be a fine choice for someone with a steady income and a relatively low debt balance.

• Does iHelp have a minimum credit score requirement?
  iHelp does not disclose a minimum credit score to qualify for student loan refinancing.

• Are iHelp loans federal?
  iHelp loans are not federal. iHelp has no affiliation with the federal government or the U.S. Department of Education.

• Does iHelp 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 iHelp hurt your credit score?
  For their prequalification process, iHelp performs a soft credit check, which will not hurt your credit score. If you proceed with an application, however, iHelp will perform a hard credit check that may affect your credit score.

• Is iHelp a bank?
  No, iHelp is not a bank; iHelp partners with banks to provide lending services to bank customers.

• Is iHelp part of Independent Community Bankers of America (ICBA)?
  No, ICBA advertises iHelp as its preferred lending partner on its website.

• Is iHelp the same as ZuntaFi?
  iHelp is a turn-key loan servicing product administered by ZuntaFi. Lending services are available to borrowers via local and community financial institutions that offer the iHelp program.

• Can I refinance a iHelp loan?
  You can refinance a iHelp student loan or a student loan from another private lender. There is no limit to the number of times a borrower may refinance with iHelp. 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 iHelp?
  Yes, you can refinance some, all, or just one of your qualifying student loans with iHelp. 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 iHelp. 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 iHelp?
  No, spouses may not combine debt into a single iHelp student refinance loan. A spouse may act as co-signer on a refinance loan, however.

• How long does it take to refinance with iHelp?
  iHelp does not disclose a definitive timeline, but refinancing your student loans with iHelp will likely take between 6 and 18 weeks.

• Who services iHelp refinance loans?
  ZuntaFi is the iHelp administrator and services all iHelp student refinance loans.

• Does iHelp offer a grace period?
  Yes, iHelp does offer a 30- to 60-day grace period after refinancing.

• How often do variable rates change?
  iHelp’s variable rate updates quarterly according to the 90-day SOFR. With a fixed hybrid loan, the rate is adjusted every 5 years according to the SOFR.

• Can I get any special rates or discounts with iHelp ?
  iHelp offers a 0.25% APR reduction for setting up automatic payments. iHelp partners with local and community financial institutions, which may offer their own benefits and promotions.

• What happens if I file for bankruptcy?
  iHelp does not specify a standard operating procedure in cases of bankruptcy but does disclose “[i]f you file for bankruptcy you may still be required to pay back this loan.”

• Does iHelp partner with any major student refinance lender marketplaces?
  iHelp does not appear to partner with any major multilender marketplaces.

Compare Student Loan Refinance Reviews

Sources

1. Justia Dockets & Filings, Booth v. Trans Union, LLC et al: Filing 33
2. Student Loan Finance Corporation, iHELP Private Variable Refinance Application and Solicitation Disclosure
3. ZuntaFi, Student Loan Refinance
4. Zuntafi, COVID-19 FAQ
5. Consumer Financial Protection Bureau, Consumer Complaint Database