Connext Student Loan Review and Alternatives
Though undergraduate and graduate students were once able to seek financial assistance through the Connext Private Loan, this product is no longer available. Student borrowers with a Connext private loan should be aware that all Connext Loans are now serviced by Launch Servicing.
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At one time, Connext offered private student loans for eligible undergraduate and graduate students; they also offered student loan refinancing.
However, Connext student loan products were discontinued and ReliaMax Lending Services, which originally serviced Connext Loans, has been rebranded as Launch Servicing.
In this review:
- What is Launch Servicing LLC.
- What To Do If You Had a Connext Loan
- Making Payments with Launch Servicing
- Connext Private Student Loan Alternatives
- Connext Student Loan Refinance Alternatives
What is Launch Servicing LLC.
The past year has been difficult for ReliaMax. The company, which was comprised of both ReliaMax Surety and ReliaMax Lending Services has gone through significant changes, and in the summer of 2018, ReliaMax Surety Company was liquidated.
Borrowers who had loans serviced by ReliaMax may have been a bit concerned about how the liquidation would impact their student loans, but fortunately, ReliaMax Lending Services was not part of the liquidation. However, the company did decide to rebrand and today they are known as Launch Servicing LLC.
What To Do If You Had a Connext Loan
If you have a Connext student loan, then you’re likely wondering where it is and how you can make payments or access information about your loan. All Connext loans are now serviced by Launch Servicing, and customers can obtain information about their loan by logging into the Launch website while still using their ReliaMax username and password. Additionally, borrowers can contact Launch directly at 877-354-2629.
Making Payments with Launch Servicing
Launch, like other loan servicers, offers customers a variety of ways to make payments, including via mail, over the phone, and online. Customers choosing to make payments online must log in to their account to do so.
If you did not have a ReliaMax account, then you must register for a Launch account to access the online payment feature. Registration will require you to enter your name, middle initial, and last name as it appears on your loan documents. Additionally, you will need to enter your Social Security number or alternative.
What If I Can’t Make My Payments?
Launch, like other student loan servicers, does provide some repayment assistance options, including student loan deferment, though eligibility varies on a case-by-case basis.
Whether your loans are just entering repayment status or you’re experiencing a financial challenge after several months or years of repayment, it’s important that you contact your loan servicer immediately to determine what options are available.
For more information on how to handle repayment concerns, check out our guide on what to do if you can’t make student loan payments.
Connext Private Student Loan Alternatives
If you are looking for a private student loan, there are plenty of other lenders available, many of which have competitive interest rates and satisfied customers. Here are some lenders that offer private student loans:
College Ave
Rates (APR)
1.49% – 12.99%
Loan Amounts
$1,000 – 100% of school-certified cost of attendance
Repayment Terms
5, 8, 10, or 15 years
College Ave is our top-rated student loan partner, offering loans to undergraduate, graduate, and parents. College Ave has competitive rates and a quick and easy online application process.
- Variables rates: 1.49% – 11.98%
- Fixed rates: 4.39% – 12.99%
- Rate reduction: 0.25% automatic payment discount
- Fees: Late payment fee of 5% of the unpaid amount or $25, whichever is less
- Cosigner release: After 24 on-time payments
- In-school repayment: Full principal & interest, interest-only, flat $25, or deferred payment
- Grace period: 6 months, but can apply for up to 6 more months
Earnest
Rates (APR)
2.74% – 12.78%
Loan Amounts
$1,000 – 100% of school-certified cost of attendance
Repayment Terms
5, 7, 10, 12, or 15 years
Earnest offers student loans to undergraduates and graduates, with a variety of loan terms from which borrowers can select. You can easily check your eligibility online, and Earnest allows borrowers to skip one payment a year, if necessary.
- Variables rates: 2.74% – 11.44%
- Fixed rates: 4.39% – 12.78%
- Rate reduction: 0.25% automatic payment discount
- Fees: None
- Cosigner release: Not available unless you refinance with the company
- In-school repayment: Principal & interest, interest-only, fixed $25, or deferred payment
- Grace period: 9 months
If you’d like to compare additional options, you can check out our guide to the best private student loans.
Connext Student Loan Refinance Alternatives
If you are looking to refinance your student loans, there are plenty of alternatives available. Here are some lenders that refinance student loans:
Earnest
Rates (APR)
2.39% – 6.67%
Loan Amounts
$5,000 – $500,000
Repayment Terms
5 – 20 years
Earnest is our top-rated student loan refinance partner due to low rates and flexible repayment terms. Earnest allows borrowers to skip one payment per year without penalty, and you can set up biweekly automatic payments or automatic payments for more than the minimum required amount.
Earnest offers a unique application and approval process in which they consider a variety of factors instead of just your credit score.
- Minimum credit score: 650
- Minimum income: $35,000
- Variable rates: 2.39% – 6.67%
- Fixed rates: 3.20% – 6.67%
- Rate reduction: 0.25% for autopay
- Fees: None
ELFI
Rates (APR)
2.39% – 6.69%
Loan Amounts
$15,000 – Total outstanding loan balance
Repayment Terms
5, 7, 10, 15, or 20 years
ELFI is a great option for borrowers looking to refinance their student loans. This lender offers competitive rates, a number of repayment terms to choose from, and has no application or origination fees.
- Minimum credit score: 680
- Minimum annual income: $35,000
- Variables rates: 2.39% – 6.01%
- Fixed rates: 3.21% – 6.69%
- Rate reduction: Not available
- Fees: Late fee of 5% or $50, whichever is less
If you’d like to compare other options, you can check out our guide to the best student loan refinancing companies.
Recap of Connext Student Loan Alternatives
| Lender | Product | Rates (APR) | Loan Amounts |
| College Ave | In-school | 1.24% – 12.99% | $1,000+ |
| Earnest | In-school | 1.24% – 12.78% | $1,000+ |
| Earnest | Refinance | 1.99% – 6.43% | $5,000 – $500,000 |
| ELFI | Refinance | 2.39% – 6.69% | $15,000+ |
>> Read More: List of student loan company reviews
