Private Student Loan Lender Lowers Interest Rates

Screen Shot 2015-01-23 at 2.25.20 PM

Interest rates on private student loan refinances continue to decline. The latest rate cut comes from Darien Rowayton Bank, a Darien, Conn.-based lender, which is trying to appeal to more borrowers who have student loans and are seeking to get a lower interest rate on them. The bank, which refinances student loans, lowered interest rates on three types of private student loans Friday. Its lowest interest rate on its five-year variable-rate refi loan fell to 1.97%, from 2.63%, making it among the cheapest in the market. The rate is pegged to the three-month Libor. DRB also lowered the highest rate on its 10-year and 15-year fixed-rate refi loans by a quarter of a percentage point to 5.5% and 6% respectively. Its borrowers have a FICO credit score of over 700 on average and a salary of at least $60,000. (annamaria.andriotis@wsj.com)

To view original article, click here 

Related Articles

The Physician’s Guide to Manage Student Loans

Anyone who’s had to deal with the Financial Aid office during undergrad knows that the student debt world is a confusing and intimidating place. Unfortunately, it’s much worse for post grad physicians, residents & fellows. So what are your options?...

Read More...

Darien Rowayton Bank Strikes Relationship with Patriot Financial Partners and Raises $20M in Capital

Darien Rowayton Bank, a financial technology firm specializing in student loan refinancing and lending developed a strategic relationship with Patriot Financial partners and raised $20M in invested capital. The relationship signifies an alignment of strategy, a consultative approach to partnership...

Read More...