Navy Federal Student Loans

Navy Federal Student Loans can provide the funding to pay for school when grants, scholarships and Federal Education Loans don't fully cover college expenses.

Features of Our Student Loans

A private student loan through Navy Federal provides:

  • variable rates as low as 4.97% APR for 10-year loans1
  • fixed rates as low as 6.49% APR for 10-year loans2
  • loans available up to the school-certified cost of attendance3
  • co-signer release that may be requested after 24 consecutive, on-time principal
    and interest payments4
  • 0.25% interest rate reduction when you sign up for automatic payments5

For more information, please see our frequently asked questions.

Visit MakingCents for clear, step-by-step information on college loans and repayment options.


Applicants

Eligibility:

To qualify, applicants must meet credit and underwriting criteria and be a:

  • member of Navy Federal Credit Union
  • current student at an eligible school
  • U.S. citizen or permanent resident
  • legal adult in the state in which they reside (age 18 in most states)

Application:

Applicants will need to provide their:

  • Navy Federal Access Number
  • Social Security Number
  • government-issued ID
  • basic information about their academic standing
  • permanent address, phone number and email address

Co-Signers

Eligibility:

To qualify, co-signers must meet credit and underwriting criteria and be a:

  • member of Navy Federal Credit Union
  • U.S. citizen or permanent resident
  • legal adult in the state in which they reside (age 18 in most states)

Application:

To complete an application, co-signers need to provide their:

  • name, address, phone number and email
  • Social Security Number
  • government-issued photo ID number
  • personal reference
  • employer's name and contact information
  • two most recent pay stubs
  • W-2 form or tax return

Questions?

Contact the Student Loan Center today.

1-877-304-9302, M-F 8 am - 8 pm, ET
navyfederal@lendkey.com


1Variable-Rate Loans: APR = Annual Percentage Rate. Rates are based on creditworthiness and subject to change. The "as low as" rate displayed above assumes a 0.25% rate reduction upon borrower enrolling in automatic payments. Loan term includes up to five years of in-school time (inclusive of grace period) and ten years of repayment time. 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 2.99% and 9.25%.

Payment Examples: Loan repayment depends on the repayment option elected by the borrower.

(1) $25 Monthly Payment Option: Assuming a $10,000 loan amount, a 10-year term and a 4.97% 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 $116.42 to repay this loan. If the APR is 10.66% 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 $195.66 to repay this loan. The APR may increase during the life of the loan and can result in higher monthly payments.

(2) 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.

2Fixed-Rate Loans: APR = Annual Percentage Rate. Rates are based on creditworthiness and subject to change. The "as low as" rate displayed above assumes a 0.25% reduction upon borrower enrolling in automatic payments. The interest rate charged and the APR are constant for the life of the loan. Loan term includes up to five years of in-school time (inclusive of grace period) and ten years of repayment time. For more information about the automatic payment borrower benefit, see the Automatic Payments Discount disclosure.

Payment Examples: Loan repayment depends on the repayment option elected by the borrower.

(1) $25 Monthly Payment Option: Assuming a $10,000 loan amount, a 10-year term and a 6.49% 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 $134.09 to repay this loan. If the APR is 11.89% 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 $217.88 to repay this loan.

(2) 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.

3Navy Federal Navy Federal 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 Navy Federal Student Loans.

4Subject to Navy Federal Credit Union approval. The Repayment Period begins after the In-School and Grace Period. A request to release a co-signer requires that the borrower has made 24 consecutive timely payments with no periods of forbearance or deferment within the 24-month timeframe. "Timely payment" means each 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 without any interruption. 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.

5Automatic 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%.

Rates

Mortgages 5/5 ARM as low as+ 4.491% APR

Auto Loans as low as+ 2.89% APR

Certificates as high as 3.25% APY

Credit Cards as low as++ 7.74% APR

We encountered an issue with our Rates feed, please call for rates or check back later.