Overview

Where does iHELP do business?

iHELP is a lending platform based in Aberdeen, SD. It was founded in 1978 and offers student loans in 50 states (and Washington, DC).

What rates does iHELP offer for in-school private student loan?

iHELP has a variable APR that ranges from 3.89% up to 9.32%.

Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.

How much can you borrow from iHELP?

Available loan amounts may vary by applicant but iHELP has a minimum loan amount of $1,000 and offers loans up to $150,000.

Does iHELP charge an origination fee?

No, iHELP does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees. 

Does iHELP charge prepayment fees?

No, iHELP does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does iHELP offer?

iHELP provides repayment terms ranging from 10 to 20 years.

What type of borrowers will iHELP consider?

iHELP considers loans applications from:

• undergraduate students
• graduate students

What do you need to qualify for a loan with iHELP?

iHELP doesn’t disclose its credit score minimum. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.

Borrower or cosigner must have a minimum income of $24,000 to qualify. iHELP only considers borrowers who are employed and have an annual income of $24,000 or higher.

Only U.S. citizens and permanent residents can apply for a loan.