Student Loan Authority
Client Reviews on Student Loan Authority
Feedback:
Trust when I say, do your research with any private loan but especially with RISLA. They expected me to pay $600+ per month upon graduation and they only offer a 6 month period for deferment (for the entire life of the loan). They will tell you that they offer more time for financial hardship and the sort but you will indeed jump through the most hoops in order to qualify. I truly think that many lenders including them are out of touch with the true costs of living and furthermore preying on less savvy parents and students. I reached out to a lawyer about some of their practices (regarding bankruptcy of a cosigner and communication) and unfortunately for me the private student loan game is air tight. To be clear, This is a business and there will be no relief no matter what is happening. I now am the proud owner of a $900 a month student loan payment. But what I learned is I will never let my children get a loan from one of these companies for education and I will scream the same thing from the mountain tops to my family who is considering.
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This is one of the worst private lending company I have worked with. They will have no issues lending you money to pay for your degree. But unfortunately when it comes to giving you a reasonable price for your income base repayment they are terrible. They will charge you something you can't afford and are very unhelpful on giving you options that will help. Basically live under a bridge to afford your payments . Highly regret taking a loan with them for my bachelors and will definitely will be looking for a different lender for graduate school. Worst mistake ever.
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RISLA is honestly a terrible company to work with. Their staff is often unhelpful and they have very high interest rates (or at least they did when I got mine). It takes advantage of young kids who are trying to get an education if you ask me, as their rates were almost double the average fed loans (in my case). I am from RI and used this lender, but there are plenty of other good options for young kids to explore. Looking back I wish I had done that instead of just going with this one because it is local. I graduated and am in the process of refinancing for a MUCH better rate. I would recommend anyone who graduates with RISLA loans to REFI ASAP while rates are good. Other lenders that help graduates refi (google the top ones) have amazing customer service to compared to RISLA and will provide significantly more competitive rates.
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Easy and simple to apply. Great customer service, you can call with questions and talk to a human (never a computer)! They are always considerate and answer all questions. I wish all my student loans were through RISLA!
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I have used RISLA for several years now and highly recommend their service. The lending terms are favorable and options exist for lower rates. The application process is refreshingly easy and quick and can all be done on line. Once approved, they deal directly with the school for fund transfers.
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RISLA was a much better option for student loans than all other options. Very happy with the service.
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Has good loan rates and very helpful staff, although having an appointment is a must otherwise you probably will not be seen.
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RISLA is a great way to find a college loan that fits your needs. I have used them for the past 3 years and have had great customer service support. As the parent of a first time college student, the daunting task of completing the paperwork was made much easier by their customer support team. I called with several questions & was always answered in a timely manner. We have worked out payback options that fit our family's budget. I would highly recommend using them for your student loan needs.
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Overall, my family and I are very satisfied with our RISLA experience. If we have questions, the RISLA team answers the questions promptly and clearly.
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They had no problem loaning the money when I made a good salary as cosigner. I lost my job. Now in order for my daughter to release me and refinance she needs to have an annual salary if $40k. What new college grad (or most people for that matter) has that salary off the bat? I guess I need to not pay my mortgage and go bankrupt in order for my kids to go to college.
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