ISL Student Loan Refinancing Review

By Mentor Staff | Edited By Mentor Staff

Updated On March 7, 2022

Editorial Note: This content is based solely on the author's opinions and is not provided, approved, endorsed or reviewed by any financial institution or partner.

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ISL is a top lender for student loan refinancing. ISL refinances student loans for all types of student loan borrowers, including doctors, dentists and residents. ISL will even refinance student loans if you’re still in school or don’t have a degree.

In this ISL student loan refinancing review, we will discuss:

ISL student loan refinancing: Rating

Best For: ISL is best for doctors and dentists who want to refinance student loans while in residency or fellowship, or when they are medical or dental professionals. ISL is also best for students who want to refinance student loans while in school.

Overview

Variable APR:
-
Fixed APR:
4.44% - 8.48%
Minimum Credit Score:
670
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000 ($10,000 in CA)

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states, except OR and ME
Hardship Deferment:
Yes
Co-signer Option:
Yes

ISL student loan refinancing: Pros and Cons

Pros:

  • Ability to refinance student loans while in medical or dental residency
  • Refinance student loans while in school or without a degree
  • Offers hardship deferment and cosigner option

Cons:

  • No variable interest rates
  • Maximum student loan refinancing amount of $500,000

ISL student loan refinancing: Overview

ISL is a top lender for student loan refinancing. ISL, which is a non-profit lender and was formerly known as Iowa Student Loans, refinances student loans, Parent PLUS Loans, medical student loans, dental student loans, and other undergraduate and graduate student loans. Founded in 1979, ISL also refinances student loans for doctors and dentists while in residency and will even refinance student loans while you’re in school.

Advantages of Refinancing With ISL

Here is what we like about ISL student loan refinancing:

  • Refinance student loans during medical or dental residency
  • Refinance while in school
  • Access repayment options for financial hardship

Drawbacks of Refinancing With ISL

ISL can improve in these key areas:

  • Include a variable interest rate
  • Provide biweekly student loan payments through autopay
  • Offer a shorter cosigner release period
  • Allow for student loan refinancing above $300,000 loan balances

ISL student loan refinancing review: Details

How to refinance student loans with ISL

You can check your new interest for free within minutes with no impact to your credit score. If you like your interest rate, you can apply online to refinance your student loans with ISL. The application takes about 10-15 minutes to complete.

Want to check your interest rate? You can check your new interest rate for free within minutes with no impact to your credit score.

Get My Rate

* Checking your rate does not affect your credit score.

Is ISL student loan refinancing right for you?

ISL student loan refinancing may be right for you if you:

  • Have a credit score of at least 670
  • Are a dentist or doctor with a high student loan balance
  • Work as a medical resident or dental resident
  • Want a lower interest rate
  • Have Parent PLUS Loans and want a lower interest rate, even if your child did not complete a degree
  • Are a current student or didn’t graduate and want a lower interest rate

ISL is a great option for borrowers who want a lower interest rate and want to refinance federal student loans, private student loans or both. ISL has low rates, flexible repayment options, and no origination fees, application fees, prepayment fees or late fees. You can also refinance student loans while in residency, while in school, if you didn’t graduate, or to remove a co-signer. Medical residents can pay only $75 a month for their student loans. To qualify, you will need a minimum credit score of 670, but there is no minimum income. Finally, ISL refinances Parent PLUS Loans, including if your child did not complete a degree.

Get My Rate

* Checking your rate does not affect your credit score.

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