Lela Benefits and Advantages

Refinancing your current student loans into one new loan with Lela can provide you with many advantages.

• Competitive Fixed Interest Rates

Fixed rates provide you with a set monthly payment that does not change, which can help you manage your funds. And if you qualify for lower interest rates, you may also pay less in interest over the life of your loan.

• No Fees or Interest Capitalization

Lela does not assess any upfront origination or late fees. And you can prepay any time with no penalties either.

In addition, unlike some lenders, Lela never capitalizes interest during repayment. That means you never pay interest on interest and can mean lower costs if you need to use forbearance to postpone payments at any point.

• Repayment Benefit

As a Lela RefiHELP loan borrower, you can earn a 0.25% interest rate reduction1 when you sign up to have monthly payments automatically withdrawn.

• Flexible Repayment Terms and Plans

You choose the repayment term that works best for your needs when you apply. And if you need to change your repayment plan after applying, you can work with our representatives to determine if a different plan works better for you.

• Access to Free College Planning and Financing Services

Receive assistance through our Lela outreach College Planning Center, in- person or remotely, via our Lela HELPline (toll free: (844) 463-2372).

1 The 0.25% interest rate reduction will apply once payments begin to be automatically deducted and will remain in effect as long as automatic payments continue without interruption during the repayment period. The 0.25% interest rate reduction will not lower the monthly payment amount but will instead reduce the interest amount that accrues. The interest rate reduction will be suspended during approved forbearance(s) or if automatic payments are rejected due to insufficient funds.

The Lela RefiHELP loan is subject to credit approval.

Change Notice: Lela reserves the right to change the program in any way from time to time without notice.

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