Looking for a student loan through a local lender you can trust? Good news! Kensington Bank is now offering private student loans through iHELP.

The student loan process can be confusing and stressful. We’re here to simplify it and help you make the best financial plan. Here are a few things to know about our new student loan program.


An iHELP student loan is a private loan direct from a community lender. The iHELP loan offers many features for the loan, including excellent interest rates, assistance from US-based student loan experts, and comprehensible information to ensure you completely understand your loan.


In short, you likely are. Here are the eligibility requirements on an iHELP student loan:

  • You must be a citizen or permanent resident of the United States
  • The borrower or cosigner must meet the legal age requirements set by their state of permanent residence
  • The borrower or cosigner must demonstrate a minimum 3 years of positive credit history in addition to meeting other ‘creditworthy’ factors
  • The borrower or cosigner must have at least a $24,000 annual income for the past two years
  • The minimum loan borrowing amount is $1,000. The maximum amount is $100,000 for undergraduate and $150,000 for graduate students
  • The cosigner cannot surpass the debt to income limit of 45%


We offer flexible repayment plans so that you can choose the best way for you to pay back your loans. While you are still in school and up to six months after you graduate, you are given a grace period during which you do not have to make payments on your loan. You also have the option of making interest payments, which keep your loan amount from growing, or making principal and interest payments, which would reduce the amount you owe after your grace period.

You also have options when your loan does reach the end of the repayment grace period. You are automatically enrolled into principal and interest payments, which are set up over a 20-year plan. However, if you are unable to make these payments, you can request an interest only payment plan. There are two options on the interest plans: one is a 24-month interest only plan that steps up to the principal and interest plan after. The other is a graduated plan that allows you to pay interest on the loan for a set period, then gradually increases until it reaches the payments of the principal and interest plan.


The application method is straightforward. Simply set up or open an account on our website and we will walk you through every step of the process. We want to be sure that you understand and feel comfortable with your loans, which is why we have a practice of transparency and guidance from our team of loan experts.

We know that researching student loans can feel overwhelming and stressful, so please contact us or stop in to one of our locations with any questions.