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Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

ISL Education Lending

Finanso.Multilogin™
Asks their customers for reviews — whether positive or negative.;Pays to access extra Trustpilot features.;Typically replies to negative reviews in 24 hours or less .;Has replied to 4 out of 4 negative reviews.
Information written by the companyInformation written by the companyEstablished in 1979 as a nonprofit, Iowa Student Loan Liquidity Corporation relies on decades of experience to help students and families obtain the resources they need to succeed after high school. We have helped hundreds of thousands students pay for college, offering private educational loans and refinance loans under the name ISL Education Lending.We also offer scholarships and programs for students and families, along with free resources and tools to help them plan to minimize college debt and repay it successfully.Loans for Students and FamiliesStudent Loan RefinancingCollege Planning ToolsScholarships and ProgramsWe publish our loan details right on our site, so you don’t have to guess.We provide our rate details on our website, and you can see them before you apply. We offer pre-qualification for our College Family loan for parents, as well as all our student loan refinance products.

What to focus on before applying for a loan with ISL Education Lending

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between ISL Education Lending and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All ISL Education Lending’s reviews by September 2022
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