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Connext Student Loans

September 19, 2017 by Leave a Comment

Connext

Connext Student Loans

Private loans for anywhere from $2000 to $250,000 (total over your college years) depending upon your year in school and your major.

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4.4
Our Score

  • The Good
  • The Bad
  • The Summary
  • Reviews

Home › Review › Loans › Student Loans › Connext Student Loans

The Good

  • Wide network of smaller lenders means more options
  • Backed by experienced student loan provider
  • Offers refinancing options as low as 4.25% for a 10-year fixed loan.

The main advantage that this online student loan company offers is that it provides synergistic access between students and smaller institutions which haven’t been able to offer student loans in the past. This means you as the customer are more likely to find funding with smaller lenders.  This can mean a more competitive rate – and often a more flexible and personable bank with real people with whom to speak.

Although the Connext platform is young, it is run by ReliaMax, which has been providing and servicing student loans for over a decade. Introduced in 2016, Connext  offers undergraduate, graduate, consolidation, and refinance loans, at both fixed and variable rates. You can choose 5-, 10- or 15-year terms, depending upon the type of student loan you take out.  While you are in school, your payments will be deferred.  After graduation, payments can be deferred for another six months which is a buffer for students to find employment.

Finally, Connext is also an option for students looking to refinance their existing student loans.  Given their network of lenders, they have competitive rates on refinancing and operate in all 50 states for borrowers.  Refinancing rates start at 4.25%, and like any direct lender, there is a fully-staffed customer service center open from 8am-5pm Central Time.

The Bad

  • New platform means limited customer service reviews
  • Only for US citizens or permanent residents

Connext student loans reviews reflect a positive response so far, however the online face of ReliaMax is still fairly new, which means there hasn’t been very much time for clients to assess how they handle service over the long haul.

The reason this company can offer such competitive rates to college students is that they are very conscientious as far as making sure their customers pay, and pay on time. So just be sure you’re equally fiscally conscientious, especially if you have a co-signer.

At this time, Connext is only  for U.S. citizens and permanent residents, however, you may qualify for a loan if your cosignor is a US citizen.

The Summary

All things considered, Connext by ReliaMax is a solid option to consider if you’re looking into private student loans. In addition to the benefits listed above, there are no origination fees, no prepayment penalties, and you can choose in-school deferment, interest-only payments while in school, or partial interest-only payments.

While Connext credit requirements are not set in stone, you will need at least a decent credit rating and/or a co-signer. Fortunately the online interface makes it easy to look at your options and find out if you qualify. And remember: private student loan companies have stringent reporting to credit bureaus for late/missed payments.  Don’t pay for more tuition than you can afford.

 

Ratings Breakdown

Loan Amount$2,000 - $250,000

Max Length5, 10 or 15

Credit Score680-800

APR Range3.03-10.26%

AvailabilityAll 50 states
HeadquartersSioux Falls, SD

Year Founded2016

Review Last Updated: September 19, 2017

How We Rate

BrightRates provides unbiased reviews to help consumers make better financial decisions. We are serious about the editorial integrity of our reviews.

If you see a fact that is misprepresented, please contact us.

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THE OPERATOR OF THIS WEBSITE IS NOT A LENDER, does not make credit decisions, and does not charge any application fees. This Website does not constitute an offer or solicitation to lend. This Website provides a service wherein we submit the information you provide to one or more lending platforms and attempt to match you with a lending platform. This service is not available in all states, and the states serviced by this Website may change from time to time and without notice. Providing your information on this Website does not guarantee that you will be matched with a lending platform or approved for a loan. The lending platform may perform a credit check or otherwise verify the information you provide. Not all lending partners offer loans up to the advertised amount and not all lending platforms can provide you with the loan amount you requested. Loan amounts are determined by the lending platform based on individual creditworthiness. All financial terms of the loan will be provided to you by the lending platform. Loan terms, conditions, and policies vary by lending platform, state, and applicant qualifications. For details, questions, or concerns regarding your loan please contact your lending platform directly. In some situations, faxing or emailing of documents may be required. Cash transfer times may vary between lending platforms and may depend on your individual financial institution. Loan repayment periods could vary by lending platform and location. Not all applicants will meet the lending criteria to qualify for a loan. Borrow Responsibly – A short-term loan is ideally used for short-term financial needs only, not as a long-term financial solution. Late or missed loan payments may be subject to increased fees and interest rates. lending platforms may use collection services for nonpayment of loans. We recommend seeking credit counseling if you have financial difficulties.