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Rhode Island Student Loan Authority
Review
9.9
Zero Fees
  • Loan Pre-qualification with Soft Credit Check
  • 0.25% Interest Rate Reduction for Auto-Pay
  • Loan Deferment Options
  • In-house Customer Service

Rhode Island Student Loan Authority

Updated on: December 2024

Short in Time

  • If you're short on time, here’s the summary: RISLA offers competitive rates and flexible repayment plans specifically geared toward Rhode Island residents and students, making it a solid local choice for student loan refinancing.

Introduction

Welcome to Money Verdict’s comprehensive review of Rhode Island Student Loan Authority (RISLA), a popular choice for student loan refinancing among Rhode Island residents. This organization offers several perks, such as competitive interest rates and excellent customer service.

Who is RISLA a Good Fit For?

If you are a resident of Rhode Island or attend a school in the state and are looking for a reliable, local service to refinance your student loans, RISLA could be the perfect fit for you. Their targeted services make them an attractive option for borrowers within their service area.
Zero Fees

Application Process

The application starts online, where you'll fill out a form asking for personal, educational, and financial information. After submitting, a soft credit check is performed for pre-qualification. If you decide to proceed, you will need to submit additional documentation for verification. A hard credit pull is performed before the loan is finalized.
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Qualification

Applicants must be U.S. citizens or permanent residents and either residents of Rhode Island or attending an eligible school in Rhode Island. A minimum credit score of 680 is typically required, along with proof of income and graduation from the school you initially took the loan for.

Our Verdict

Our final verdict for RISLA is highly favorable. With competitive interest rates and strong customer service, the only real limitations are the geographical restrictions and lack of a co-signer release option. If you fit the eligibility criteria, RISLA is a strong contender for student loan refinancing.

Pros
  • Competitive Interest Rates
  • No Origination Fees
  • Flexible Repayment Options
  • High Customer Satisfaction
  • Local, Trustworthy Service
Cons
  • Limited to Rhode Island Residents or Students
  • No Co-signer Release Option
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Common Questions (FAQ)

It's available for both Rhode Island residents and students attending an eligible school in Rhode Island.

A credit score of at least 680 is usually required for loan approval.

No, RISLA does not charge any origination fees.

Currently, RISLA does not offer a co-signer release option.

Customer service is available from 9 AM to 5 PM EST, Monday through Friday.

Zero Fees