The Rhode Island Student Loan Authority, otherwise known as RISLA, is a nonprofit state-based agency. It provides student loans to graduates, undergrads, and parents. Fixed-rate in-school loans can be availed from this company, but by Rhode Island residents only. The company offers to refinance customers with the option of an income-based repayment scheme, in case they are going through financial problems. Loans would be available to users at fixed rates only. Borrowers would not be able to release co-signers from their loan after a certain time has passed.

Borrowers can enjoy a repayment flexibility plan if they have difficulty in paying back what they owe. If they do not own a degree, they could still refinance. There is no option available for receiving a personalized rate estimate through a soft credit check. The interest rates are fixed and fall between 3.49% and 7.64%. This includes a discount of 0.25% under the autopay scheme. The terms of repayment range from 5 to 15 years. Loan amounts fall between $7,500 and $250,000. The company does not offer personalized rate estimates, which makes things a little difficult for clients. Further, it does not offer a forbearance period of 12 months. A co-signer release program is also absent from the services provided by RISLA.

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