Merrimack County Savings Bank

Private Student Loans

Loans can help you bridge funding gaps to reach your goals. We have options — covering up to the cost of attendance and with no upfront fees. Find your rate in just minutes!

Note: Students should take advantage of any federal financial aid available to them by filing the FAFSA before utilizing private loans.

Granite Edvance Student Loan

For students who are NH residents or attending college in NH
Multiple repayment terms and options

Fixed rates between 3.490% – 10.327% APR ¹

Apply for a student loan >

Parent Loans

Supporting a student? Our parent loans cover up to the cost of attendance and have no upfront fees. Find your rate in just minutes!

Note: Students should take advantage of any federal financial aid available to them by filing the FAFSA before utilizing private loans.

Granite Edvance Parent Loan

For parents who are NH residents
Immediate repayment with multiple term options

Fixed rates between 4.489% – 9.250% APR ²

Apply for a parent loan >

Student Loan Refinancing

If you already have student loans, you may want to consider our refinance loan. Refinancing allows you to combine multiple current student loans into a new loan that may better fit your needs.

Note: Refinancing a federal loan means forfeiting the benefits associated with federal loans. We encourage you to speak with your federal loan servicer and research the options before refinancing a federal student loan.

Granite Edvance Refinance Loan

For NH residents looking to refinance
Immediate repayment with multiple term options

Fixed rates between 4.149% – 8.541% APR ³

Apply for a refinance loan >

College & Career Planning

We are a nonprofit that helps students prepare for college and careers. Our team shares their knowledge through free workshops and resources, helping thousands of students every year.

Resource Library

Browse our curated collection of guidebooks, short videos, recorded webinars, and flyers on career planning, college admissions, and financial aid.

College Calculators

Use one of our calculators to estimate your college costs or plan your college savings so you can feel truly prepared.

Mother and daughter sitting next to each other on sofa planning college college journey

Considering a cosigner?

If you need a private student loan but don’t have a strong credit history, you may want to consider a cosigner.

Cosigners on student loans are very common because students usually have limited credit history and may have lower income. However, students are also welcome to apply without one.
A cosigner with a strong credit history may actually save you money over the life of the loan. With a cosigner, you may qualify for a lower interest rate than you’d get on your own. It’s best to explore all options and make the best decision for your circumstances.
Your cosigner needs to understand that they will be equally responsible for your student loan.
As you make on-time payments on the loan and your credit history improves, you may be able to remove the cosigner through our cosigner release option.⁴

Disclosures

Application & Solicitation Disclosures
- Granite Edvance Student Loan – For New Hampshire residents. Funding provided by Granite Edvance Corporation.
- Granite Edvance Student Loan – For residents of all states other than New Hampshire who are attending a New Hampshire college. Funding provided by Bank of Lake Mills.
- Granite Edvance Parent Loan
- Granite Edvance Refinance Loan
Granite Edvance Student Loan is a loan product of Granite Edvance Corporation and may be funded by Granite Edvance Corporation NMLS ID# 1527348, www.nmlsconsumeraccess.org or Bank of Lake Mills, member FDIC. Subject to credit approval and underwriting guidelines. Bank of Lake Mills does not have an ownership interest in Granite Edvance. Neither Granite Edvance nor Bank of Lake Mills is affiliated with the school you attended or are attending.

Merrimack County Savings Bank is not responsible for the underwriting, approval or servicing of student loans offered through Granite Edvance Corporation. Loans offered through Granite Edvance Corporation are intended to supplement, not replace, federal and institutional financial aid options.
¹ The Granite Edvance Student Loan APRs depend in part on creditworthiness. Lowest APR is only available to our most creditworthy borrowers and assumes an application with a cosigner, immediate repayment, a 7-year repayment term, and 0.25 percentage point interest rate reduction for optional automatic debit. Highest APR assumes deferred repayment, 15-year repayment term, and 0.25 percentage point interest rate reduction for optional automatic debit. For more information about automatic debit, see note 5.
² The Granite Edvance Parent Loan APRs depend in part on creditworthiness. Lowest APR is only available to our most creditworthy borrowers and assumes an application with a cosigner, a 7-year repayment term, and 0.25 percentage point interest rate reduction for optional automatic debit. Highest APR assumes 15-year repayment term, and 0.25 percentage point interest rate reduction for optional automatic debit. For more information about automatic debit, see note 5.
³ The Granite Edvance Refinance Loan APRs depend in part on creditworthiness. Lowest APR is only available to our most creditworthy borrowers and assumes an application with a cosigner, a 5-year repayment term, and 0.25 percentage point interest rate reduction for optional automatic debit. Highest APR assumes a 20-year repayment term and 0.25 percentage point interest rate reduction for optional automatic debit. For more information about automatic debit, see note 5.
⁴ To be eligible for cosigner release, account is to be current, after 24 months of consecutive and on-time payments (except for states that require borrowers to have made 12 months of consecutive and on-time payments), and the remaining borrower meets the Lender’s then required credit underwriting criteria.
⁵ Borrowers with private loans that are in deferment (including Granite Edvance Student Loan borrowers who elect deferred repayment), a grace period, or forbearance are not eligible to enroll and receive the automatic debit benefit until they enter into repayment. Borrowers electing to enroll in interest-only or immediate repayment are eligible to enroll in automatic debit upon initial disbursement.