Rhode Island residents can now enjoy the lowest rates in RISLA’s 40-year history, even if they are in an out-of-state school.
According to Charles P. Kelly, executive director of the Rhode Island Student Loans Authority (RISLA), the rate of the RISLA public education loan with immediate maturity ten years is 2.99% per annum if the borrower is a resident of Rhode Island (or borrower from another state) borrower attending RI school) use automatic debit from their checking account or 3.24% if they pay by check or online.
“We are thrilled to offer Rhode Island residents and their families such advantageous low rates due to our recent and very successful bond issue,” said Kelly. “What’s more, RISLA is the only private education loan provider that offers income-based repayment to all of its borrowers if they are in financial distress due to unemployment or serious medical problems.
RISLA also offers a loan that can be deferred for up to six months after the student leaves school.
In parallel news, RISLA was recently notified that a Forbes advisor named it the best student loan provider.
The Rhode Island Student Loan Authority (RISLA) is a non-profit quasi-government body that has provided affordable solutions for higher education since 1981. It also operates the College Planning Center located at Warwick Mall in Warwick, Rhode Island. In addition to providing loans and facilitating applications for federal grants, RISLA educates families on how to obtain financial aid, introduces students to the college planning process, provides tools that can help families make informed and responsible college borrowing choices, and helps students take the jump. … – starting your career.