Over the last few months, we've been developing a student loan refinancing solution that is balanced for everyone. Our Income Share Agreement (ISA) program is beneficial to those with student loans looking to be interest and debt free. We can refinance many types of loans with the Defynance ISA, an option currently available only for some current college students.
How we're different from federal loans
Federal loan protections are great and you can really benefit from keeping them. One of the toughest choices to make when refinancing your student loan revolves around saving money at the expense of losing important federal loan protections. The Defynance ISA eliminates this problem by giving you the best of both worlds.
Federal income driven repayment plans can take large chunks of your income, even up to 20%. They also take up to 20 years before your balance can be forgiven, all while interest keeps accumulating. If 10-20% of your income is not enough to even pay the monthly interest, then your balance continues to grow.
The Defynance ISA is interest free. There's no balance that has to be repaid and there's never interest piling on, no matter what your payment is. That's right, even if you're paying nothing, your balance isn't growing when you take out an ISA.
More benefits of the Defynance ISA
We want you to succeed. That's why we're building an entire ecosystem for our customers. Those with a Defynance ISA will have access to career guidance and job search assistance. These resources will be accessible, in the future, to those without the ISA for a small fee.
Your payments should be similar to other refinance options on the market. The benefit of the Defynance ISA is the protections for when things don't go as planned. Things may not always go to plan so if you face unemployment or other obstacles, our ISA becomes the safety net protecting you and your family from financial hardship.
How to apply
You can find the application for our ISA solution here. If you have any questions about our product feel free to contact us or visit our FAQ.
