The Rhode Island Student Loan Authority (RISLA) is a nonprofit loan authority that has been providing affordable higher education solutions since 1981. RISLA is a state-based agency that refinances student loans and lends money to students and parents for college. The company offers consumer-friendly benefits, including free admissions and financial aid assistance through the College Planning Center of Rhode Island, free internship finder, and financial literacy guidance to high schools and colleges throughout the State of Rhode Island.
RISLA offers the same fixed rates for all loan borrowers. If you want to start repaying your loan right away RISLA will offer 3.99 percent fixed loan rate. Also, you have the option to start repaying your loan six months after you leave the school at 5.74 percent fixed rate. RISLA could potential offer better interest rates to borrowers whose credit score ranges at 680, where as other lenders will offer inserts rates based on your credit history.
RISLA offers assistance to all borrowers based on the questions or concerns they might have. Customers can contact RISLA via email, phone, and even mail for the questions they might have the loan or disbursement processes. Also, separate contact information is provided for the borrowers that might have questions regarding statements, payments, and fully disbursed loans.
RISLA offers rewards program to help the borrowers to save even more money. You have an option to earn $2,000 in loan forgiveness credit on your non-federal RISLA loans for completing an eligible internship. Also, borrowers who become nurses in Rhode Island pay zero interest on their loans for up to four years. If you have a degree in nursing and also have the desire to teach nursing in licensed nursing college in Rhode Island, you could get up to $20,000 in loan forgiveness. And that is not all: physicians, nurse practitioners, and physician assistants can earn thousands of dollars in loan forgiveness for working in Rhode Island.