Granite Edvance launches new refinance loan for NH borrowers
Concord, NH – Granite Edvance is pleased to introduce a new loan product designed for New Hampshire borrowers who would like to refinance their existing student loans. The Granite Edvance Refinance Loan features competitive rates, no origination fee, and helpful benefits including an optional cosigner, choice of term options, and an optional discount for automatic debit.
“We realize that paying for college is a long-term proposition and that circumstances change over time,” said Christiana Thornton, President and CEO of the statewide nonprofit. “We’re very excited to offer another solution to support NH students and families in reaching their goals.”
A refinance loan is the combination of one or more private and/or federal student loans into one new, private student loan. Combining multiple student loans into one refinanced loan can help simplify monthly payments. A refinance loan may also help borrowers reduce monthly payments or reduce the overall cost of the loan, depending on their circumstances.
It’s important to understand that reducing monthly payments usually means extending the loan term, which will typically result in a higher total cost. Additionally, refinancing a federal loan means forfeiting the benefits associated with that federal loan. Granite Edvance encourages borrowers to speak with their federal loan servicer and research the options on the studentaid.gov website before choosing a Granite Edvance Refinance Loan.
The new Granite Edvance Refinance Loan, a fixed-rate-only loan, is launching with a rate of 4.149%-9.311% APR*. Along with competitive rates and other benefits, NH borrowers can take advantage of Granite Edvance’s personalized support, including virtual and in-person appointments. And all NH families have access to Granite Edvance’s free college-and-career planning services and resources.
The new loan product is part of a growing portfolio designed to meet the evolving needs of NH students and families and respond to the changing higher-education landscape. Earlier this year, Granite Edvance introduced the Granite Edvance Parent Loan, offering competitive rates in comparison with the Federal Parent Loan for Undergraduate Students (PLUS) Loan, as well as helpful benefits to support borrowers.
For more information on the Granite Edvance Refinance Loan, visit graniteedvance.org/refi.
*Subject to credit approval. Granite Edvance Corporation NMLS#1527348 www.nmlsconsumeraccess.org.
About Granite Edvance
Granite Edvance (formerly the New Hampshire Higher Education Assistance Foundation, or the NHHEAF Network) is a New Hampshire nonprofit that supports New Hampshire students and their families through free career and higher-education counseling and resources, as well as through funding assistance including scholarships and competitive private student loans. Established in 1962, the organization rebranded as Granite Edvance in November 2023. Loan products offered by the Granite Edvance Corporation include the Granite Edvance Student Loan, the EdvestinU Private Student Loan, the Granite Edvance Refinance Loan, the EdvestinU Refinance Loan, and the Granite Edvance Parent Loan. Loans offered by Granite Edvance Corporation may be funded by Granite Edvance Corporation or Bank of Lake Mills, member FDIC.
For more information, visit GraniteEdvance.org. To schedule an interview, contact Sarah Earle at 603-406-0596 or email searle@graniteedvance.org.