A nonprofit lender will provide affordable private student loans to eligible low-income families in Springfield.
Nonprofit Lender Offers Affordable Private Student Loans to Universities and Colleges from Low-Income Families in Springfield
A nonprofit lender, ISL Education Lending, will provide affordable private student loans to different universities and colleges from low-income families in Springfield, wherein the nonprofit lender will partner with the treasurer’s office under the Illinois Partnership Loan Program to help students.
Under the partnership between the nonprofit lender and the treasurer’s office, the nonprofit lender will offer lower interest rates to students who are suffering from high-interest rates for their student loans, which will greatly help thousands of students through the nonprofit lender to finish college.
The program under the nonprofit lender and the treasurer’s office will provide relief to students in need and are suffering from too much debt; however, the nonprofit lender’s program would not replace other student debt relief programs but will only provide assistance to students, according to a WGN report.
Nonprofit Lender Aims to Expand Their Program to Help More Students from Low-Income Families
Almost 400,000 students from low-income families qualify for private student loans from the nonprofit lender and aims to expand their program even more.
The nonprofit lender also encouraged students who wanted to get loans under the program to try first other student loan programs before going to them, Central Illinois Proud reported.
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