To continue enjoying all the features of Navy Federal Online, please use a compatible browser. You can confirm your browser capability here.

Refinance Your Student Loans

Whether you’re a student or a parent, refinancing your student loans with Navy Federal may help you lower your interest rate, decrease your monthly payment and pay off your loan sooner.

  1. Step 1

    Gather documents and information.

    Once you decide to refinance your student loans, have the following information ready to submit with your application:

    • Name, date of birth and Social Security Number
    • Permanent address, phone number and email address
    • Basic info about your school and degree
    • The type of student loan you're refinancing (Private, Federal or both)
    • Annual income, if applicable
    • Loan amount you’re requesting

    Tip: Keep your bank account info handy as well. If you set up automatic payments for your student loan, you’ll receive a 0.25% reduction in your rate.1

  2. Step 2

    Add a co-signer, if needed.

    If you don’t have an income of at least $24,000 a year or if you have a limited credit history (typically less than 36 months), adding a creditworthy co-signer may be a good idea. Having a co-signer on your loan can:

    • increase the chance of loan approval
    • help lower the interest rate on the loan
  3. Step 3

    Provide final documentation and select the terms of your loan.

    Before you’re done, you’ll need to submit a few more documents to:

    • show proof of graduation
    • provide proof of income

    You’ll also need to select the type of loan you want (5-, 10-, 15-year fixed or variable),2 choose the loans you want to refinance and set up payment options.

  4. Step 4

    Complete final steps following approval.

    Once approved, you’ll need to sign your loan agreement and accept your disclosures. We’ll then send the funds to your current lender. This process could take up to 30 days, so continue to make on-time payments toward your current loan until we’ve confirmed the refinance is complete.

    Ready to get started? It only takes minutes to apply.

    Student Refi  Parent Refi

Need to Talk?

Contact a loan specialist today at our student loan center, powered by LendKey. 1-877-304-9302, M-F, 8 am - 8 pm, ET or

Why Refinance Your Student Loans?

It’s our mission to help you achieve your goals. By refinancing, you could pay off your loan faster and lower your monthly payments. With guidance from experts and career assistance, we’re here every step of the way. You’ll also have access to online tools such as job searches, interviewing tips, a job tracking dashboard and a resume builder.

Why Choose Navy Federal?

Once you become a member, you’re part of our family. We’re dedicated to providing you all the support you need to reach your financial goals along with the banking experience you deserve.

Join Today

To get approved for student loan refinancing, you'll need to meet the criteria for credit and income, or apply with a co-signer who can. You'll also need to have completed your degree program from an eligible school.

By refinancing your student loans, you could lower your monthly payment amount, save on interest or pay off your loan faster. When you consolidate multiple student loans into a single loan, you’ll have only one loan payment to make instead of several, and it can help you simplify repayment.

Yes, federal and private student loans can both be refinanced with Navy Federal. If you have federal student loans, we recommend reviewing your current and potential future benefits before refinancing, as the benefits applicable to federal loans won't carry over.



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 at 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.


Variable-Rate Payment Example: Assuming a $10,000 loan amount, a 8.53% APR, and a 15-year term, you would make 180 monthly payments of $98.65 to repay this loan. If the APR is 13.78% and the loan amount remains $10,000, you would make 180 monthly payments of $131.70. 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 6.85% APR, you would make 180 monthly payments of $89.05. If the APR is 12.55% and the loan amount remains $10,000, you would make 180 monthly payments of $123.58.