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Take control of your student loan repayment! Refinance and consolidate your private and federal student loans (including PLUS loans) into one manageable loan, setting up one convenient payment and potentially lowering your rate.
Should I Refinance My Student Loans?
Refinancing your student loans could help you pay off your loans sooner or save on your monthly payment, but every student loan situation is unique. Here are some things to consider before deciding if you should refinance:
Pros
Cons
IMPORTANT: The Biden administration recently announced that federal student loan payments will resume after 12/31/2022, along with measures related to debt cancellation and income-based repayment. Learn more by contacting your federal student loan servicer, visiting studentaid.gov or reading our blog post. NOTE: These measures are strictly tied to federal student loans and have no impact on private student loans.
Eligibility Requirements:To be eligible to refinance your student loans, you must have graduated from an approved school‡‡ and be a member of the credit union from which you choose to borrow. You may apply without being a member of the credit union, but you will need to become a member in order for the loan to be funded.
College graduates who are:
Our credit union partners’ private student lending solutions help fill funding gaps left after you’ve exhausted lower-cost sources of aid such as scholarships, grants, and federal student loans.
Convenient and Flexible College Funding
It’s different than a traditional loan! Nearly all of our credit union partners offer a private education line of credit that will allow you to secure funding for your entire undergraduate or graduate career with just one application.* In future years you simply request funds from your line (called a “draw”) for the amount you need – no need to reapply! And with convenient terms and no payments required while you’re fully enrolled, we’ll help you successfully manage repayment after college.
Eligibility Requirements:To be eligible for a private education line of credit, you must be enrolled in a degree-granting program at an approved school** and be a member of the credit union from which you choose to borrow. You may apply without being a member of the credit union, but you will need to become a member in order for the loan to be funded.