Graduate Student Loans

Navy Federal private student loans are subject to credit qualification, school certification of loan amount, and student's enrollment at a Navy Federal-participating school. Navy Federal reserves the right to approve a lower amount than the school-certified amount or withhold funding if the school does not certify private student loans.

Automatic Payments Discount: The discount requires continued enrollment of automatic payments. The borrower authorizes automatic payments from a personal account via Automated Clearing House (ACH). If automatic payments are canceled or suspended at any time after enrollment, such as during a period of forbearance, the rate reduction will not apply until the borrower re-enrolls in automatic payments. For variable-rate loans, the APR, including the 0.25% rate reduction, may not fall below the floor rate.

APR means Annual Percentage Rate. Rates are based on creditworthiness and may change. Your actual rate may be higher depending on your credit history, loan term, repayment option selected, and whether you enroll in automatic payments. See the Automatic Payments Discount disclosure for more details.

The advertised "as low as" rate is available only for the 5-year loan term and assumes excellent credit, enrollment in automatic payments resulting in a 0.25% discount (subject to the floor rate), and, for in-school loans, selection of Immediate Repayment as your in-school repayment option. The "as low as" rate is not available with the $25 Payment or Interest-Only in-school repayment options.

Variable-Rate Loans: Annual Interest Rate = Base Rate + Loan Margin. The Base Rate is the 90-day average of the daily SOFR published by the Federal Reserve Bank of New York as of two business days immediately preceding the quarterly adjustment date. The APR is variable and may change as the Annual Interest Rate varies with the 90-day SOFR and, therefore, may increase during the life of the loan.

Fixed-Rate Loans: The Interest Rate charged and the APR are constant for the life of the loan.

Variable-Rate Loan Payment Example: Loan repayment depends on the repayment option elected by the borrower.

A) $25 Monthly Payment Option: Assuming a $10,000 loan amount, a 10-year term, and a 6.80% APR, you would make 54 (48 months in school + 6-month grace period) monthly payments of $25 while enrolled in school followed by 120 monthly payments of $138.03 to repay this loan. If the APR is 13.43% and the loan amount remains $10,000, you would make 54 monthly payments of $25 while you are enrolled in school followed by 120 monthly payments of $249.12 to repay this loan. The APR may increase during the life of the loan and can result in higher monthly payments.

B) Interest-Only Option: You would pay the amount of interest that accrued during each month while you are enrolled in school, with a minimum of $25. Thereafter, you would make 120 monthly payments calculated based on the principal balance and accruing interest. Assuming a $10,000 loan amount, a 10-year term, and a 7.09% APR, you would make 54 (48 months in school + 6-month grace period) monthly payments of $59.08 while enrolled in school followed by 120 monthly payments of $116.57 to repay this loan. If the APR is 15.04% and the loan amount remains $10,000, you would make 54 monthly payments of $125.33 while you are enrolled in school followed by 120 monthly payments of $161.58 to repay this loan. The APR may increase during the life of the loan and can result in higher monthly payments.

Fixed-Rate Payment Example: Loan repayment depends on the repayment option elected by the borrower.

A) $25 Monthly Payment Option: Assuming a $10,000 loan amount, a 10-year term, and a 7.47% APR, you would make 54 (48 months in school + 6-month grace period) monthly payments of $25 while enrolled in school followed by 120 monthly payments of $146.84 to repay this loan. If the APR is 12.46% and the loan amount remains $10,000, you would make 54 monthly payments of $25 while you are enrolled in school followed by 120 monthly payments of $228.94 to repay this loan.

B) Interest-Only Option: You would pay the amount of interest that accrued during each month while you are enrolled in school, with a minimum of $25. Thereafter, you would make 120 monthly payments calculated based on the principal balance and accruing interest. Assuming a $10,000 loan amount, a 10-year term, and a 7.85% APR, you would make 54 (48 months in school + 6-month grace period) monthly payments of $65.42 while enrolled in school followed by 120 monthly payments of $120.54 to repay this loan. If the APR is 13.80% and the loan amount remains $10,000, you would make 54 monthly payments of $115 while you are enrolled in school followed by 120 monthly payments of $154.07 to repay this loan.

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Subject to Navy Federal Credit Union approval. A request to release a co-signer requires that the borrower has made consecutive timely payments during the repayment period with no periods of forbearance. The "repayment period" begins after any In-School and Grace Periods. "Timely payment" means each full principal and interest payment is made no later than the 15th day after the scheduled due date of the payment. "Consecutive payment" means the regularly scheduled monthly payment must be made for 24 months straight for private student loans, and 12 months straight for refinance loans, without any interruption immediately prior to the release request. To qualify for a co-signer release, the borrower must submit a request, meet the consecutive, timely payment requirements, provide proof of income, and pass a credit check.

Credit and collateral subject to approval.