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, read below.
Juno Student Loans in a Nutshell
| Loan Terms | 5 to 20 years |
| Loan Amounts | Varies by lender |
| Loan Types | Undergraduate, graduate, refinancing |
| Cosigner | Yes |
| 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:
| Lender | Rewards |
| Earnest | Paris |
| First Republic | Paris |
| Splash Financial | London |
| Laurel Road | Saigon |
You will not receive a reward if you visit a partner’s website and purchase another product, like 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. This 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 |
| Undergraduate | Earnest | Not disclosed |
| 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 said before, you have a few lender options when it comes to Juno student loan refinancing. Some good options are: Earnest, First Republic, Laurel Road, and Splash Financial. Not to mention, discounts vary by partner, and terms range from 5-20 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.
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Conclusion
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.
But, the Juno application process may take some time, sometimes up to months. If the tuition deadline is getting closer, you’ll want to have a look at another service. LendKey will let you see multiple different offers at once.
