Juno (joinjuno.com) rewards their members with up to $1,000 cash back on student loan refinancing. Juno is a student loan platform that matches you to a private student loan provider, but with a twist. The company groups together borrowers to negotiate lower rates with partner lenders. For more on Juno and their member rewards program, keep reading.
Also, see the $300 bonus offer for student loan refinancing from Splash Financial.
Juno Student Loans In A Nutshell
|Loan Terms||5 to 20 years|
|Loan Amounts||Varies by lender|
|Loan Types||Undergraduate, graduate, refinancing|
|Promotions||Up to $1,000 cash back on refinancing|
Juno Member Rewards Program – Up To $1,000 Cash Back
Juno members enjoy special deals when they refinance student loans with Earnest, First Republic, Laurel Road or Splash Financial:
|Earnest||Up to $1,000 cash back|
|First Republic||Up to $800 cash back|
|Splash Financial||Up to $600 cash back|
|Laurel Road||0.25% rate discount*|
*For health professionals, like physicians, dentists, nurses and physician assistants.
You will not receive a reward if you visit a partner’s website and purchase another product, like a mortgage, which Juno did not direct you to.
You can see the terms of current Juno student loan refinancing offers here (see the footer of the page).
Juno Student Loan Features
Juno negotiates lower rates on private student loans and student loan refinancing. To get better rates, Juno groups together their members and garners a “bulk discount” from the lender. That means the more people who are involved, the greater negotiating leverage Juno has with their lending partners.
Juno Private Student Loans
|LOAN TYPE||LENDER||RATE DISCOUNT|
|Graduate||Earnest||0.8 to 4 percentage points|
Juno private student loans come with terms of five to fifteen years. The company does not require you to start repayment until nine months after graduating or withdrawing from school.
Juno Student Loan Refinancing
As we mentioned earlier, you have a few lender options when it comes to Juno student loan refinancing – Earnest, First Republic, Laurel Road and Splash Financial – and discounts vary by partner. Terms range from five to twenty years.
Juno Student Loan Fees
Juno does not charge any application, origination or prepayment penalty fee.
Juno Student Loan Eligibility
Eligibility criteria, for the most part, is the same if you use Juno or if you don’t use Juno. One significant difference, however, is that Juno members are not required to meet Earnest’s minimum income requirements for graduate student loans. This may help you qualify if you aren’t applying with an eligible co-signer.
Juno utilizes collective bargaining power to negotiate better rates on undergraduate, graduate and refinance student loans. The company does not charge any fees for their service, and you may end up with a lower rate compared to traditional lenders.
However, the Juno application process may take some time, sometimes up to months. If the tuition deadline is drawing near, you’ll want to have a look at another service. For example, LendKey, which lets you see multiple offers at once.
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