Refinance Rates and Terms
Student Refinance, Medical Professional and Parent Refinance Loan Rates and TermsFootnote [1]
Variable RateFootnote [2] Loans
The following tables illustrate the estimated annual percentage rate (APR), monthly payment, and total payment for a $10,000 loan with various terms. The lower rate displayed in the rate range below assumes a 0.25% reduction (subject to the floor rate) upon borrower enrolling in automatic payments.Footnote [3]There are no application or origination fees, and no prepayment penalties. Rates are subject to change and based on creditworthiness, so your rate may differ.
Private Student Loans Rates & Terms
| Term |
APR with autopay |
Estimated Monthly Payment | Estimated Total Payment |
|---|---|---|---|
| 5 Year 60 payments |
4.77% to 11.87% | $187.66 to $221.79 | $11,259.63 to $13,307.29 |
| 10 Year 120 payments |
5.82% to 12.72% | $110.12 to $147.66 | $13,214.25 to $17,719.65 |
| 15 Year 180 payments |
6.32% to 13.32% | $86.12 to $128.64 | $15,502.37 to $23,154.67 |
Fixed Rate Loans
The following tables illustrate the estimated annual percentage rate (APR), monthly payment, and total payment for a $10,000 loan with various terms. The lower rate displayed in the rate range below assumes a 0.25% reduction (subject to the floor rate) upon borrower enrolling in automatic payments.Footnote [3]There are no application or origination fees, and no prepayment penalties. Rates are subject to change and based on creditworthiness, so your rate may differ.
Private Student Loans Rates & Terms
| Term | APR with autopay |
Estimated Monthly Payment | Estimated Total Payment |
|---|---|---|---|
| 5 Year 60 payments |
4.45% to 11.25% | $186.20 to $218.67 | $11,172.18 to $13,120.38 |
| 10 Year 120 payments |
5.55% to 11.75% | $108.77 to $142.03 | $13,052.90 to $17,043.54 |
| 15 Year 180 payments |
5.85% to 12.55% | $83.58 to $123.58 | $15,043.94 to $22,244.00 |
How is my loan payment calculated?
Your monthly loan payment depends on a few things, such as how long you’ll take to repay the loan (the term) and whether you choose a fixed‑rate or variable‑rate loan.
- Fixed‑rate loans have an interest rate that stays the same for the entire loan. This means your monthly payment won't change.
- Variable‑rate loans have an interest rate that can go up or down based on a market index. If the rate changes, your monthly payment may also change.
Navy Federal Credit Union doesn't charge application fees, origination fees, or prepayment penalties. You can also get a 0.25% rate discount if you sign up for autopay. Footnote [3]
Disclosures
Rates are based on creditworthiness and subject to change. Advertised "as low as" APRs assume excellent borrower credit history. Your actual APR may differ and will be based on several factors, including credit history and loan term. The “as low as” rate displayed above is available for the 5-year term and assumes a 0.25% rate reduction upon borrower enrolling in automatic payments (subject to the floor rate). For more information about the automatic payment borrower benefit, see the Automatic Payments Discount disclosure.
↵If you choose and receive a variable-rate loan, your rate may change once a quarter. The variable-rate is based on the 90-day average of the daily Secured Overnight Financing Rate (“SOFR”) published by the Federal Reserve Bank of New York as of two business days immediately preceding the quarterly adjustment date. Your rate will be calculated each quarter by adding the 90-day SOFR to a margin that is assigned to your loan upon loan approval. All loans are subject to an interest rate floor based on term: 5 year: 1.13%, 10 year: 1.68%, 15 year: 2.18% and will not exceed the maximum permissible by law, currently 18.00%.
↵Automatic Payments Discount: You will receive a 0.25% interest rate discount when you enroll in automatic payments from your personal bank account using ACH. You must stay enrolled in automatic payments to keep this discount. If automatic payments are stopped, are canceled, fail, or are returned (for example, due to insufficient funds), the discount will be removed. The discount will also not apply during periods when payments are paused, such as forbearance. You can receive the discount again by re-enrolling in automatic payments. For variable-rate loans, your APR (including the discount) will not go below the floor rate.
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