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INvestEd private student loans review

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Competitive financing for Hoosiers and students going to school in Indiana.

INvestEd’s fixed- and variable-rate loans are competitive, provided you meet the credit requirements or have a creditworthy cosigner. But you’ll need to be an Indiana resident or attending college in the state to qualify.

5.45% to 9.74%


5, 10 or 15 years

Max. Loan Amount


Min. Credit Score


Product NameINvestEd
Minimum Loan Amount$1,001
Max. Loan Amount5, 10 or 15 years
APR5.45% to 9.74%
Interest Rate TypeFixed
Minimum Loan Term5 years
Maximum Loan Term15 years
Requirements670+ credit score, DTI under 31% or $3,333+ monthly income, 2+ years of continuous employment or regular source of income, Indiana resident or nonresident attending school in the state, no delinquencies of 60+ days during last 2 years, no repossessions, judgments, foreclosures, garnishments or tax liens, no charge-offs or collection accounts of $100+, no bankruptcies in last 5 years, no defaults on student loans

First, am I eligible?

To qualify for a student loan from INvestEd, you or your cosigner must meet the following criteria:

  • Credit score of at least 670
  • DTI ratio under 31% or monthly income of at least $3,333
  • Continuously employed for at least two years or regular source of income
  • No delinquencies of 60 or more days in the last two years
  • No repossessions, foreclosures, garnishments, tax liens or judgments
  • No bankruptcies within the last five years
  • No defaults on student loans

What states is INvestEd available in?

INvestEd is only available in Indiana. To qualify, you must be either:

  • An Indiana resident
  • A nonresident attending an eligible school in the state

How do INvestEd student loans work?

INvestEd is a direct lender that offers both fixed- and variable-rate loans with terms of 5, 10 or 15 years to residents of Indiana and students attending school in the state. You can borrow as little as $1,001 all the way up to 100% of your school-certified cost of attendance after other financial aid is deducted.

You may have to apply with a cosigner because of its stringent eligibility requirements, but it might be worth it for the low potential APR.

How much do INvestEd student loans cost?

INvestEd doesn’t charge any origination or application fees, so the main cost you need to worry about is interest. Rates are largely based off your credit score, the repayment plan you choose and whether you opt for a fixed- or variable-rate loan.

Here’s how they break down:

Repayment planVariable ratesFixed rates
Immediate repayments3.76% to 7.27%5.45% to 9.12%
Interest-only repayments3.91% to 7.42%5.72% to 9.27%
Deferred repayments4.06% to 7.57%5.87% to 9.74%

Variable rates fluctuate based on the three-month LIBOR rate, though they’ll never go above 21%.

In addition to interest, you may also be charged a late fee of 5% of your monthly repayment — but no more than $15. And if a repayment fails to go through, you’ll be on the hook for a $10 returned payment fee.

    Does INvestEd offer discounts?

    Like many lenders, INvestEd offers a 0.25% rate discount for signing up for autopay. However, this won’t lower your monthly repayments. Instead, it puts the discount toward your interest repayments. This means you’ll be paying more toward your loan’s principal than interest every month. By doing this, you’ll finish making repayments well before your loan term is up.

    Let’s take a look at an example: Say you were making a $100 repayment each month. With the interest rate discount, your interest would be reduced from $10 to $8. While you’d still be making that $100 repayment, now $92 would go toward principal, rather than just $90. That would decrease how long it takes to pay off your debt.

    What are my repayment options?

    INvestEd offers three repayment options for both its fixed- and variable-rate student loans.

    • Immediate repayments. Make repayments on principal and interest 30 to 60 days after your loan is disbursed.
    • Interest-only repayment. Make interest-only repayments 30 to 60 days after your loan is disbursed. Full repayments begin six months after you graduate or drop below half time.
    • Deferred repayment. You won’t make full repayments until six months after you graduate or drop below half time. Any interest that accrues will be added to your loan balance, making this the most expensive option.

    Does INvestEd offer deferment or forbearance?

    Yes. You can choose in-school deferment, which means you won’t make any payments until after your six-month grace period is up — which doesn’t kick in until you graduate or drop below half time. And if you choose to attend graduate school immediately after you complete your undergraduate degree, you have an extra two years until repayments begin.

    INvestEd also offers hardship forbearance in one- to three-month increments, which you can request up to two times a year. In total, you may request forbearance for up to 24 months throughout the life of your loan. While interest continues to accrue during this time, it might be helpful if you hit a financial rough patch.

    Top reasons to consider INvestEd

    With its generous principal reduction and financial literacy resources, there are a few perks of INvestEd:

    • Principal reduction. If it’s been less than six years since you first received your loan, you may qualify for a 2% reduction to your principal when you graduate.
    • Cosigner release available. Unlike some other lenders that require you to stick with your cosigner or refinance, INvestEd allows you to release your cosigner after 48 consecutive months of on-time full repayments — provided you meet the underwriting criteria.
    • Financial literacy resources. Even if you decide not to go with INvestEd, it still has plenty of resources on what you should look for in a lender, how you can find a good loan and other tips for taking on student debt.
    • Live chat available. If you hate talking on the phone and need a quick answer to a simple question, you can chat with an INvestEd representative on its website instead.

    Drawbacks to borrowing from INvestEd

    INvestEd might have its fair share of benefits, but there are also some drawbacks to consider before borrowing.

    • Only available in Indiana. INvestEd only offers loans to residents of Indiana and students attending a school in the state.
    • High variable-rate loan cap. Variable-rate loans have a relatively high rate cap of 21%. In comparison, most other lenders cap variable rates at 18%.
    • INvestEd may not be your actual lender. If you’re an Indiana resident attending school out of state, your loan will be funded by First Merchants Bank — not INvestEd.

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    What do borrowers say about INvestEd?

    Not much. While it earns an A+ rating from the the Better Business Bureau (BBB), it’s not accredited and doesn’t have any reviews or complaints listed from former borrowers. In fact, it doesn’t even have a Trustpilot page, nor is it mentioned on popular online forums like Reddit.

    However, its involvement with the community is a plus in our book. INvestEd representatives are known to visit local schools to help with the FAFSA and other educational efforts.

    What to expect when signing up

    Before you begin, confirm that you or your cosigner qualifies. Then follow these steps to get started on the application:

    1. Visit the INvestEd website.
    2. Click Apply Now and select Student Loan.
    3. Enter your first name, email, phone number and state of residency.
    4. Check the box agreeing to let INvestEd call you to help with the process.
    5. Select the state your college is in and your school’s name. Click Next.
    6. Wait to be redirected to the CampusDoor application page.
    7. Select the name of your school, the state it’s located in, whether you’re applying with a cosigner, your citizenship status and whether you’ll be enrolled at least half time. Click Am I eligible?
    8. If eligible, create an account with CampusDoor and follow the steps to complete your application.

    What information do I need to apply?

    When you start your application, have the following information on hand to speed up the process:

    • Name and contact information
    • Details about your employment, income and debts
    • School and major

    If applying with a cosigner, you’ll also have to provide information about them, including their employment, income and debts.

    Who services INvestEd student loans?

    INvestEd student loans are serviced by American Education Services (AES). While you’ll have multiple ways to make repayments through AES, many former borrowers have had issues with the servicer mishandling repayments.

    Find out how to avoid this — and what to do if you run into problems — with our guide to AES student loan servicing.

    More about INvestEd

    INvestEd has been offering student loans to Hoosiers and Indiana students for 35 years now. Beyond its loan options, it also provides helpful financial aid resources on its website and visits local high schools to help families understand their borrowing options — even if that means not going with a private student loan.

    Bottom line

    Although its reach is limited, INvestEd offers competitive student loans for Indiana residents and students going to school in the state. But you’ll have to meet its strict credit requirements or apply with a creditworthy cosigner to be eligible.

    Don’t qualify? Check out your other options with our guide to student loans.

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