Last Updated: 04/18/2025
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Highlights
Fixed APR
7.56% - 11.01%
Variable APR
4.94% - 9.42%
Amount Range
$10,000 - $250,000
iHELP Private Student Loan Review
iHELP Private Student Loan is offered by iHELP, a financial services company founded in 1978 and based in Aberdeen, SD. iHELP Private Student Loan are available in 50 states and Washington, DC.
iHELP Private Student Loan FAQ
What rates does iHELP Private Student Loan offer for in-school private student loan?
iHELP Private Student Loan has a variable APR that ranges from 4.94% up to 9.42% .
It offers a fixed APR that ranges from 7.56% up to 11.01% .
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 Private Student Loan?
Available loan amounts may vary by applicant but iHELP Private Student Loan has a minimum loan amount of $10K and offers loans up to $250K.
Does iHELP Private Student Loan charge an origination fee?
No, iHELP Private Student Loan 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 Private Student Loan charge prepayment fees?
No, iHELP Private Student Loan 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 Private Student Loan offer?
iHELP Private Student Loan provides repayment terms ranging from 5 to 20 years.
What type of borrowers will iHELP Private Student Loan consider?
iHELP Private Student Loan considers loans applications from:
What do you need to qualify for iHELP Private Student Loan?
iHELP Private Student Loan does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher. iHELP Private Student Loan does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by iHELP Private Student Loan.
Is iHELP a legit company?
iHELP was founded in 1978, it is a well-established company that has been in business for 48 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from our editor
What Do We Love About the iHelp Student Loans?
When it comes to student loan coverage, iHelp holds a unique position. It covers the gap between the total education and the amount a student gets in federal loans, scholarships, or grants. Technically, iHelp loans are certified and qualify as education expenses.
Just like other student loans, iHelp doesn’t charge prepayment or origination fees. However, it charges a variable interest rate that can increase or decrease over months. Instead of a call center support, iHelp assigns a dedicated origination specialist to process the application.
These specialists offer assistance until you complete and submit your loan application. One of the best things about iHelp is that it doesn’t require payments while you’re in school. It also offers a separate forbearance program to meet the specific hardships of students.
As far as servicing and funding go, SLFC (Student loan Finance Corporation) administers iHelp loans. SLFC possesses more than 30 years of student lending experience. It is the source that borrowers will use to resolve any questions or concerns about their loans.
What Could the iHelp Student Loans do Better?
Unfortunately, like many other student loan companies, iHelp’s application process also comes across as confusing. Although you can get help from an origination specialist to process the application process, it still doesn’t change the fact that application requirements are extensive.
Furthermore, the platform offers solely variable rate loans. The presumption that “all” people prefer variable rate loans needs revision. Plus, it would also get rid of high-risk payments. Like other lenders, iHelp should offer a discount for automatic enrollment payments.
The Backstory of iHelp
ICBA (Independent Community Bankers of America), the major trade association hub for small banks in the United States sponsors iHelp. In fact, ICBA members serve as the originating lenders on all iHelp loans. Therefore, when a borrower applies for a loan with iHelp, it receives the ICBA’s rates. As of now, it represents around 5,000 banks across the country.
The Verdict
If you’re just out of school and don’t have a stable financial income, iHelp would serve as an attractive and flexible choice. The company takes into account the issues and concerns of the students. If you want an income-sensitive loan plan, iHelp deserves your consideration.
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Student Loan Refinancing
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iHELP Private Student Loan Community Reviews
Would you recommend iHELP Private Student Loan to your friends?
U
Anonymous
Jul 13, 2018
May or may not recommend
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 ...Show More
KK
Ki K.
Feb 23, 2018
May or may not recommend
iHELP makes the process simple. Their experts are friendly and easy to work with, and they really know their stuff!
U
Anonymous
Sep 28, 2017
May or may not recommend
Ron Lacher was passive aggressive and had no customer service. I asked for explanation of why the loan was being denied and he kept giving me the same response. A little detail would have helped. I am not in finance, so I was asking for a little more detailed explanation, which he refused to give.
U
Anonymous
Jun 20, 2017
May or may not recommend
I love working with iHELP! They always pick up the phone when I call and have made financing my education easy.
Showing 4 of 4 reviews
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