Defynance isn't like other student debt refinancers out there. Instead of replacing one loan with another loan, we eliminate your debt entirely with an income share agreement (ISA). When you refinance student debt with an ISA, you get added benefits and protections. With an ISA, you only pay what you can afford to pay, since the payment is based off of a percentage of your income. This gives you more freedom and less worry about how you'll pay off those student loans.
Defynance gets rid of student debt
You heard that right, Defynance gets rid of your debt immediately. One of the perks of an ISA is that it's not debt. As soon as you refinance with an ISA and your student loans are paid off, you are free of student debt. Your only obligation now is to pay a percent of your income for the length of your term.
Earn your financial freedom
Now that you're free from student debt, you're one step closer to financial freedom. An ISA allows you to pay just a small percent of your income, so that you can focus on the important things in your life. We will never take more than 20% of your income, leaving AT LEAST 80% for you to focus on the bigger things in life.
Build your savings
The Defynance ISA also comes with a built in savings account for you. With our self-equity account, you will take a stake in your ISA. This means that whenever you make payments, a portion of your payments will be set aside in your self-equity account. After your ISA ends, you will get the money that built up in that account back. This is a great way to save and create an emergency budget if you don't already have one.
Defynance protects you
Our ISA also has a lot of protection built-in to the program to help you. Because the program is based on your income, if you don't have any income to share, you don't have to make any payments. In fact, if you make under $25,000 per year, then you don't have to pay anything until you get back above that threshold. This prevents you from making payments when you may not have the money to do so.
We also protect you from paying too much if you do great. We want you to succeed, and if you do, we don't want to punish you for doing so. That's why, we also have a payment cap, or a maximum amount that you will pay in the income share agreement. The cap starts out as a small multiple of your ISA and grows over time, so the sooner you buy out the better. You can also make extra payments to remove a month from your ISA term. Of course, you're not required to make extra payments and can pay your ISA off acording to your original terms.
Refinance student debt and pay it back sooner
With Defynance you can choose your term, so you can pay back your debt sooner, or take more time if you feel you need it. We cater our solution to your situation. We also allow you to shorten your term by making extra payments at your leisure. This allows you to finish your ISA even quicker.
If you think the ISA refinance is a good solution for you, you can find our application here. Or If you just want to learn more about our program, you can visit our websites FAQ page.
