INvestEd Student Loans and Refi: A Solid Option for Indiana Students

2.8 _/5

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Private student and parent loans

• Low fixed interest rates compared to competitors
• Several repayment terms and in-school repayment plans
• Offers student and parent loans

• Applicants must be Indiana residents or attending school in Indiana
• Not listed on BBB or Trustpilot; Facebook company page contains several spam reviews
• High minimum credit score of 670 required

Student loan rates (APR)	4.62%+ fixed, 7.15%+ variable
Parent loan rates (APR)	4.95%+ fixed, 6.78%+ variable
Loan amounts	In-state Indiana students: $1,001 – cost of attendance (COA); Out-of-state students attending IN school, or IN residents attending school out of state: $2,001 – COA; Parent loans: $1,001 – COA
Repayment terms	5, 10, or 15 years

Refinance student loans

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• Refinance up to $250,000
• 4 repayment terms to choose from
• Low fixed rates compared to some competitors

• 670+ credit score required
• Only for borrowers who are residents of Indiana or attending school in Indiana

Fixed rates (APR)	5.58% fixed, 7.90% variable
Refi amounts	$5,000 – $250,000
Repayment terms	5, 10, 15, 20 years

INvestEd student loans and refinance student loans offer competitive interest rates, but they come with a major drawback—extremely limited eligibility. Only Indiana residents or students attending Indiana universities can apply, which significantly reduces the lender’s appeal compared to national ones. 

However, for those who qualify, INvestED is an option worth considering due to its community-focused approach and nonprofit mission.

What sets this lender apart is its commitment to student loan education. As a nonprofit with over 45 years of experience, the organization advocates for taking out federal loans first to minimize debt, reflecting its mission to support Indiana families in making sound financial decisions. INvestEd also engages with the community through more than 1,000 events each year, providing guidance on college funding and responsible borrowing.

Here’s everything you need to know if you’re an Indiana resident or attending school in the state and are considering this lender for your educational financing.

Table of Contents

1. InvestEd student loans
2. INvestEd parent loans
3. INvestEd student loan refinancing
4. How to apply

INvestEd student loans

INvestEd student loans are private loans designed to help bridge the gap when federal student loans aren’t enough to cover the cost of college. We recommend that students exhaust their federal loan options first because they typically offer more flexible repayment options and access to loan forgiveness programs.

But if you’ve reached your federal loan limit and still need funding, INvestEd private loans can help.

Loan amounts

The amount you can borrow with an INvestEd student loan depends on your school’s cost of attendance (COA) minus any other financial aid you receive. You can’t borrow more than the COA, but there are minimum amounts based on where you’re from and where you’re studying:

• If you’re an Indiana resident attending a college or university in Indiana, you can borrow at least $1,001.
• If you’re an Indiana resident going to school outside of Indiana, or if you’re from another state and attending an Indiana school, the minimum loan amount is $2,001.
  

Detail	What to know
FICO score	670+
Min. income	$3,333 gross monthly
Employment	2 years of continuous employment
Debt-to-income ratio (DTI)	30% or less
Financial history	No bankruptcies in the past 5 years; no repossessions or foreclosures; no delinquencies over 60 days in the past 2 years
Repayment terms	Full payment, interest-only, full deferment
Rates	4.62%+ fixed, 7.15%+ variable
Discounts	0.25% rate reduction for autopay
Cosigner release	After 12 consecutive on-time principal and interest payments + meeting credit criteria

Why consider INvestEd student loans?

INvestEd student loans may appeal to borrowers looking for a more personalized, borrower-friendly experience compared to big banks or national lenders. Since INvestEd is a nonprofit lender based in Indiana, it often offers more community-focused service and may be more understanding of local borrowers’ needs. 

Additionally, it has a straightforward cosigner release process after just 12 on-time payments, which can be harder to find with larger national lenders. If you value a more approachable and supportive lending experience—and are an Indiana resident or student—INvestEd could be a good fit.

INvestEd parent loans

INvestEd parent loans are designed for parents or supportive adults who want to take on the financial responsibility of funding their child’s education. Just like student loans, parent loans can also be cosigned to improve approval chances or secure lower rates.

What stands out about the INvestEd parent loans is the deferment options for active military and temporary financial hardship. These benefits don’t appear to be available for student loan borrowers. While we typically recommend keeping student loans in the student’s name with a parent as cosigner, the INvestEd parent loan might be a good option if you think you’ll need those deferment options later.

Aside from that, many of the details for INvestEd parent loans are the same as those for student loans, including eligibility requirements, the interest rate reduction benefit, and the cosigner release process. Below are the most noteworthy differences.

Detail	What to know
Rates	Principal and interest immediately upon disbursement
Deferment options	Active duty military; temporary hardship (up to 24 mo.)
Loan amounts	$2,001+

Why consider INvestEd parent loans?

INvestED parent loans might make more sense if you’re financially prepared to start making payments right away: Repayment begins as soon as the loan is disbursed. They’re also a good option if you value the added flexibility of deferment benefits, like active duty military or temporary hardship deferment, which aren’t available with student loans.

On the other hand, a student loan with a cosigner might be a better choice if your child wants to build their credit while still in school, or if you prefer repayment flexibility that includes deferment while studying.

INvestEd student loan refinancing

INvestEd’s refinance loans offer a practical solution for Indiana residents or those who attended school in Indiana and are looking to manage their student debt more efficiently. Whether you’re aiming to lower your interest rate, simplify your monthly payments, or access flexible repayment options, INvestEd’s refinancing program may be a good fit. 

INvestEd offers student loan refinancing, but like its other products, borrowers must meet specific criteria. Here are the details.

Detail	What to know
Min. income	$36,000/year
FICO score	670+
DTI	40% – 50% of gross monthly income
Employment	Show history from past year
Financial history	No 60+ day delinquencies or defaults
Refinance amounts	$5,000 – $250,000
Repayment options	5, 10, 15, or  20 years
Rates	5.58% fixed, 7.90% variable
Discounts	0.25% rate reduction for autopay
Deferment options	36-mo. in-school if you return to school; active duty military; 2 temporary hardship forbearances
Cosigners allowed?	Yes, release after 12 months + meeting other credit criteria

Why choose INvestEd’s student loan refinancing?

Borrowers might choose INvestEd’s refinance student loans over other options because it offers a community-focused approach tailored to Indiana residents or those who attended school in Indiana, providing competitive rates, personalized service, and local support that national lenders often lack.

 Plus, the interest rate reduction for automatic payments and flexible repayment terms make it a practical choice for eligible borrowers.

What current borrowers say about INvestEd

INvestEd doesn’t have a Trustpilot, Better Business Bureau, or dedicated Google account to read customer reviews, which makes it challenging to learn about its customer service, funding speed, or overall customer experiences. 

INvestEd has a Facebook business page with 11 reviews (as of May 2025) dating back to 2020. And only the first review from 2020 seems legitimate, while all the rest appear to be spam. INvestEd can improve this and should make it a priority. Monitoring Facebook reviews and establishing credibility on BBB or Trustpilot would show potential customers it’s a reputable lender.

Alternatives

If you aren’t eligible for INvestEd student loans or want to compare it to some of the best private student loan options, here are three alternatives we recommend.

INvestEd vs. College Ave

One of the best private student loan lenders is College Ave. College Ave is available in all 50 states. It consistently has low rates and multiple repayment terms and offers loans to students enrolled less than half-time. INvestEd also has low rates, but students must be enrolled at least half-time to be eligible for interest-only or deferred payments.

INvestEd vs. Sallie Mae

If you need to apply for a private student loan with a cosigner, lenders have different policies when it comes to releasing a cosigner from liability. Sallie Mae is available nationwide, and it’s the best private lender for cosigners because you can release your cosigner after making 12 on-time payments. 

INvestEd also has a policy of releasing cosigners after 12 consecutive payments, but these loans are only available to Indiana residents or students in Indiana colleges.

INvestEd vs. SoFi

SoFi is our pick for the best private student loan refinancing company. SoFi does not charge origination fees and offers numerous benefits, including reward points, events, and educational resources. SoFi also offers loans to borrowers in all 50 states and D.C., unlike INvestEd, which only offers loans to those from or studying in Indiana.

How to apply

If you meet INvestEd’s student loan qualifications and want to apply, here are the steps to take.

1. Go to INvestEd’s application page

First, navigate to INvestEd’s student loan application page. There, you’ll enter your first name, email address, phone number, and state of residency. If you choose Indiana, you’ll be prompted to select the location and name of your college. Check the box if you want INvestEd to call you. When you’re done, click “Next” and you’ll be redirected to a site called Campus Door.

2. Fill out an application with INvestEd’s loan processor

Several companies partner to evaluate your application, lend, process, and manage your student loans. INvestEd is your lender, and the company partners with Bank of Lake Mills. Campus Door is the loan processor, and American Education Services is the student loan servicer. 

On the Campus Door page, you’ll see a more thorough application, which determines your eligibility for a loan. You’ll answer questions about enrollment, your citizenship status, your age, and whether you’re signing with a cosigner. If you’re eligible, you’ll get to the next page, where you’ll provide more details and confirm your identity.

The full application will ask you for your name, address, and Social Security number. You’ll also select a password and security questions to create an account. 

3. Receive approval and accept your loan

Once you submit your information, you will get a decision on whether your loan is approved. You’ll have 30 days to accept your loan terms.

How we rated INvestEd student loans

We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared INvestEd to several student loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating, recapped below.

Product	Rating
Private student loans	2.8/5
Student loan refinance	Not rated