To be eligible to refinance, you must be a college graduate who is:
- A U.S. citizen or permanent resident who has graduated from an approved public or private not-for-profit school
- In repayment or grace on one or more outstanding private or federal student loans
- Able to pass a credit check (a cosigner may be necessary in order to meet credit criteria, and may help you qualify for a lower rate)
- A member of the credit union (the cosigner, (if applicable) must also be a primary account holder OR a joint-account holder at the credit union)
The minimum refinance loan amount is $5,000. The maximum loan amount is $75,000. Make sure to review your existing loans carefully to borrow the exact amount you need.
We do not offer an in-school deferment option. Our refinance loan is intended for borrowers who have completed their education and do not plan on returning to school.
Yes. If you choose to refinance a federal loan, you will lose federal student loan benefits such as income-driven repayment or loan forgiveness options that may be available on your current federal loan(s). Please consider this carefully when evaluating your options.
A cosigner is not required for this loan. However, applying with a creditworthy cosigner may improve your chance of meeting the approval criteria and possibly attain a lower interest rate.
Once you complete the application we will request the following documents for verification: loan payoff statements for each loan you request to refinance; proof of graduation; a recent paystub within the last 30 days; two years of W2s; and photo ID.
You can refinance federal, private, and institutional education loans.
You will be quoted a rate after your application has been submitted and reviewed. There is no obligation to take the loan once you apply.