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INvestEd Refi Loan

INvestEd Refi Loan

You have questions. We have answers. INvestEd helps Hoosiers navigate student loan refinancing.

Student loans are a double-edged sword. On the one hand, they may have made college possible. On the other, it may feel like you’ll never get them paid off. The truth is, you can get out from under them and refinancing them into a new loan with lower rates may be the answer. We’re INvestEd, an Indiana not-for-profit that has been helping Hoosier families access and fund education for over 40 years. Now we’re helping new families refinance existing high-interest private and federal loans to better manage their educational loan debt. There are three key questions to ask to find out if refinancing makes sense for you:

  1. Can I get a lower interest rate on my current loans?
  2. Can I reduce the overall amount I have to repay?
  3. Can I lower my monthly payment?

We’re here to help. Call us at (317) 715-9015, talk with us online, or start the application process now.

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Rates, Eligibility, & Benefits


  • Rates as low as:
    • 6.61% APR1 Variable2
    • 5.61% APR1 Fixed3
  • Repayment term options: 5, 10, 15, & 20 years *
  • Refinance Amount:
    • Minimum: $5,000
    • Maximum: $250,000

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  • Must be a citizen or permanent resident of the United States
  • Borrower and co-signer (if applicable) must have established credit history and meet annual income requirements.
  • Eligible loans include private and federal loans that are in good standing (as defined by INvestEd)

This list of criteria is not exhaustive. For additional details, please click the Learn More button below.

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Borrower Benefits

  • Earn a 0.25% ACH interest rate reduction by making auto-debit payments.
  • Co-signer release opportunity after 12 consecutive on-time principal and interest payments.
  • Multiple deferment options

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I’m ready to apply

Our application is straightforward and easy to use. We’ll guide you, step-by-step, to help you get your best rate. Our application should only take a few minutes to complete, but you’re welcome to start it now, save your work, and come back if you get pulled away.

To complete your application, you’ll need:

  • Your Social Security Number
  • 2 most recent pay stubs (to verify your income)
  • Your previous year W-2 forms (to verify employment)
  • Information of your current loans (lender, interest rate, balance, etc.)

That’s it! Everything else should be pretty straightforward. If you’ve got any questions, please feel free to call, email, or chat with us.

Apply Now!

DISCLAIMER – Subject to credit approval, loans are made by INvestEd or Bank of Lake Mills. Bank of Lake Mills does not have an ownership interest in INvestEd. Neither INvestEd nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by INvestEd or Bank of Lake Mills or their respective affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

1 Lowest rates shown are for eligible, creditworthy applicants and require shortest length of repayment and our Automatic Payment discount of 0.25 percentage points. Rates advertised include an interest rate reduction of 0.25 percentage points for setting up automatic payments. Automatic payments are not required. Borrowers are eligible to receive a 0.25% ACH interest rate reduction for payments made via automatic debit. The ACH Discount will be applied the day that the ACH payment is approved by your bank and will remain in effect until you discontinue the ACH payments, are disqualified, or the ACH Discount is suspended. You will be disqualified from this benefit if three (3) payments are returned for non-sufficient funds (NSF) within any twelve (12) month period. The ACH Discount is suspended during any deferment or forbearance period.

2 The variable rate is subject to increase after consummation. The maximum variable interest rate is 18.00%. The current APR range for the period of February 1, 2023 – April 30, 2023 is 6.61% to 10.50%. The variable interest rate that is charged to the borrower may change quarterly, may increase or decrease, and is based on an Index and Margin. The Index is defined as the average of the three-month forward-term version of the 90-day Secured Overnight Financing Rate (SOFR) published by a source approved by the Alternative Reference Rate Committee (ARRC) during the following periods: December 21st through March 20th, March 21st through June 20th, June 21st through September 20th; and September 21st through December 20th. The average of the three-month forward-term version of the 90-day Secured Overnight Financing Rate (SOFR) for the period September 21st, 2022 – December 20th, 2022 is 3.463% (Effective February 1, 2023 – April 30, 2023). Your rate will be calculated each quarter by adding a margin between 3.39% and 7.03% to the Index.

3 The fixed rate will not change during the term. The current APR range for the period of January 1 – June 30, 2023 is 5.61% to 9.49%.

Have questions?

We've got real, local, Hoosiers ready to help you with any questions you may have. Reach out to Robert, Bill, Susan, Alex, or Matt today!

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