Rhode Island Student Loan Authority (RISLA) is a non-profit state authority that provides various student loan programs and services to students and families in Rhode Island and beyond.
- Loan Programs: RISLA offers a range of loan programs, including undergraduate loans, graduate loans, parent loans, and refinance loans. These loans aim to help students cover the costs of higher education, including tuition, room and board, and other related expenses.
- Interest Rates and Terms: Interest rates and terms may vary depending on the specific loan program. RISLA is known for offering competitive interest rates and flexible repayment options to assist borrowers in managing their student debt effectively.
- In-House Servicing: RISLA often services its loans in-house, providing borrowers with a more personalized and localized approach to loan management. This can be advantageous for borrowers who prefer dealing directly with their loan servicer.
- Nonprofit Status: Being a non-profit organization, RISLA’s mission is to make higher education more accessible and affordable. This nonprofit status may translate into benefits for borrowers, such as lower fees and a focus on borrower education.