Explore Our Options

Student Refinance Loans

Consolidating and refinancing your federal and private student loans could save you time and money. Only have one loan? You can still take advantage of our great low rates with a single loan refinance.

Features:

  • Competitive interest rates
  • 0.25% interest rate reduction when you sign up for automatic payments1
  • Option to save on interest, lower your monthly payment or pay off faster
  • Co-signer release may be requested after 12 consecutive, on-time principal and interest payments2
  • Rates & Terms

Rates:

Variable APR as low as3
1.95%
with autopay


Fixed APR as low as4
3.39%
with autopay

Terms:

5-, 10- or 15-year5


Parent Refinance Loans

Are you paying off high-interest federal Parent PLUS or private parent loans for your child? You could save on interest and lower your monthly payments by refinancing—giving you more freedom to focus on your other financial goals.

Features:

  • Competitive interest rates
  • 0.25% interest rate reduction when you sign up for automatic payments1
  • Loans for multiple children can be combined
  • Refinance before your student has graduated
  • Co-signer release may be requested after 12 consecutive, on-time principal and interest payments2
  • Rates & Terms

Rates:

Variable APR as low as3
1.95%
with autopay


Fixed APR as low as4
3.39%
with autopay

Terms:

5-, 10- or 15-year5

Minimum Credit Requirements

The minimum credit qualifications needed for a refinance loan are:

  • a monthly income of at least $2,000 and an established credit history (typically 21 months or more) or
  • an income of at least $100 a month and a creditworthy co-signer whose monthly income is at least $2,000

How a Co-Signer Can Help

A creditworthy co-signer can help applicants with limited credit history or income qualify. A co-signer may:

  • increase the chance of loan approval
  • help lower the interest rate on the loan

Career Assistance Program Now Available With Any Student Loan

If you have a Navy Federal Student Loan, you’re automatically eligible to use an online job search training system and resources, which includes:

  • job search and interviewing tips
  • suggestions for how to find jobs not yet open to the public
  • a job tracking dashboard
  • online tools and exercises, including a resume builder

Our Online Application Is a Simple 3-Step Process

  1. Apply online and get notified of the preliminary application decision.

  2. Submit the requested documents. We'll email you a list.

  3. Receive the final decision and loan agreement, which you can sign electronically.

Already have a student loan with Navy Federal?

Sign in to your student loan account now.

Manage Your Loan Sign in to your student loan account.

Have Questions?

Contact a loan specialist at the Student Loan Center today. 1-877-304-9302, M-F, 8 am - 8 pm, ET or navyfederal@lendkey.com

Helpful Resources

Disclosures

1 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 any time after enrollment, the rate reduction will not apply until the automatic payments are reinstated. Automatic payments may be suspended during periods of forbearance and deferment. For variable-rate loans, the APR, including the 0.25% rate reduction, may not fall below the floor rate, which is 2.99% for Private Student Loans and 1.43% for Refinance Loans.

2 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 or deferment. 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.

3 Variable-Rate Loans: APR= Annual Percentage Rate. Rates and terms are based on creditworthiness and subject to change. The "as low as" rate displayed above assumes a 0.25% reduction (subject to the floor rate of 1.43%) upon borrower enrolling in automatic payments. For more information about the automatic payment borrower benefit, see the Automatic Payments Discount disclosure.

Annual Interest Rate = Base Rate + Loan Margin. The Base Rate is the average of the 3-Month LIBOR published in the Wall Street Journal on the first business day of the three months immediately preceding each quarterly adjustment. The Loan Margin is between 1.43% and 9.99%. The APR is variable and may change as the Annual Interest Rate varies with the 3-month LIBOR, and therefore, may increase during the life of the loan.

4 Fixed-Rate Loans: APR = Annual Percentage Rate. Rates and terms are based on creditworthiness and subject to change. The Interest Rate charged and the APR are constant for the life of the loan. The "as low as" rate displayed above assumes a 0.25% reduction (subject to the floor rate) upon borrower enrolling in automatic payments. For more information about the automatic payment borrower benefit, see the Automatic Payments Discount disclosure.

5 Variable-Rate Payment Example: Assuming a $10,000 loan amount, a 3.76% APR, and a 15-year term, you would make 180 monthly payments of $72.77 to repay this loan. If the APR is 10.76% and the loan amount remains $10,000, you would make 180 monthly payments of $112.16. The APR may increase during the life of the loan and can result in higher monthly payments.
Fixed-Rate Payment Example: Assuming a $10,000 loan amount, a 15-year term, and a 4.68% APR, you would make 180 monthly payments of $77.42. If the APR is 12.03% and the loan amount remains $10,000, you would make 180 monthly payments of $120.21.