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Take Your Education Higher

Take Your Education Higher

We're here to help you pay for college or refinance your current loans.

You can get the student loan—and the life—you want. With Navy Federal Student Loans, you can have it all. The college experience, the degree and a path to reach your goals. We're on your side whether you need help covering the cost of college or want to refi existing education loans. 

Private Student Loans

Get what you need to succeed! We can help you pay for college or grad school and cover the costs that federal loans and scholarships don't.

Features:

  • Loans available for a semester or the entire academic year up to the school-certified cost of attendanceFootnote 1
  • Variety of repayment options while you're in school to help reduce overall loan costs
  • 0.25% interest rate reduction when you sign up for automatic paymentsFootnote 2
  • A co-signer release may be requested after 24 consecutive, on-time principal and interest paymentsFootnote 3
  • Private Student Loan Rates & Terms

Rates:

Variable APR as low asFootnote 4
7.77%
with autopay


Fixed APR as low asFootnote 4
4.75%
with autopay

Terms:

5- or 10-yearFootnote 5

Apply Now for a student loan Learn More about student loans

Student and Parent Refinance Loans

Refinance your student loans and focus on what matters! You could consolidate your private and federal student loans to get a lower interest rate, pay off your loans faster or lower your monthly payment.

Features:

  • 0.25% interest rate reduction when you sign up for automatic paymentsFootnote 2
  • Save on interest, pay off faster or lower your monthly payment
  • Loans for multiple children can be combined
  • Co-signer release may be requested after 12 consecutive, on-time principal and interest paymentsFootnote 3
  • Student Loan Refinancing Rates & Terms

Rates:

Variable APR as low asFootnote 4
6.21%
with autopay


Fixed APR as low asFootnote 4
4.85%
with autopay

Terms:

5-, 10- or 15-yearFootnote 6

Learn More about student and parent refinance loans

See What Our Members Have to Say

Whether it's offering guidance through a loan application or planning a financial strategy, we always put our members first. After all, they're what matter most!

Confirm Eligibility Before You Apply

To be eligible for a Navy Federal Student Loan or student loan refinancing, you'll need to meet credit and underwriting requirements and also be a:

Adding a Co-Signer Can Help

If you have a limited credit history, adding an eligible and creditworthy co-signer who is a Navy Federal member could be a great idea. In fact, 9 out of 10 of our student borrowers have a co-signer. They could: 

  • increase your chances of loan approval
  • help you get a lower interest rate on your loan

Learn how adding a co-signer can help you get a loan

Easy Online Application Process

  • Apply and you could receive a Conditional Approval in minutes.
  • Adding a co-signer could increase chances of approval and a lower interest rate.
  • Submit all requested documents to complete your application.
  • Sign your loan agreement and start the certification process.

See how easy it is to apply

Get Career Assistance From Navy Federal

If you have a Navy Federal Student Loan, you’re automatically eligible to get online job search training and take advantage of other resources, including:

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

Meet Our Student Loan Partner

LendKey is Navy Federal's trusted partner that handles our student loan applications and manages our private student loans, student refinance loans and parent refinance loans.

When you apply for your loan, you'll fill out your application and create an account on a special LendKey/Navy Federal website. You'll receive emails from LendKey during the process.  

Student Loan Resources

View MoreStudent Loan Resources

FAQs

There are 2 types of student loans: federal and private. 

Federal student loans follow guidelines set by the U.S. Department of Education. They typically offer fixed rates that are lower than  private student loans and have more repayment options.  Federal loans have borrowing limits and don't have credit score requirements. 

Private loans are issued from lenders such as banks, credit unions, state agencies or schools. If a student can’t borrow enough to cover the entire cost of education with federal loans, grants and available scholarships, private loans help students fill that gap.  Unlike federal loan programs, private lenders assess the creditworthiness of the borrower and co-signer (if applicable) before making a loan. 

Both private and federal student loans typically allow students to defer full principal and interest payments while in school. Some even offer economic forbearance options once a student completes school. And, federal and private student loans can both be refinanced with Navy Federal.

 

The student applies for a private student loan as the primary borrower with the option to add a creditworthy co-signer who is a Navy Federal member.  

All co-signers must pass a credit check and be: 

  • a member of Navy Federal Credit Union
  • a U.S. citizen or permanent resident
  • a legal adult (18 in every state except Alabama, Nebraska and Mississippi)

Federal student loans are funded by the United States federal government. Private student loans are funded by a private organization, such as a credit union or a bank. The names of federal student loans are Direct Loans and Direct Plus Loans.

LendKey is our third-party partner that handles our student loan applications and manages your student loan. When you apply for a loan with us, you'll fill out your application on the LendKey website, and you'll receive emails from them with information about your loan. 

Already have a student loan with Navy Federal?

Sign in to your student loan account now.

Manage Your Loan

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 navyfederal@lendkey.com.

College Resources From Navy Federal

View More College Resources From Navy Federal

Disclosures

1

Navy Federal private 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 private student loans.

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2

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.

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3

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.

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4

APR = Annual Percentage Rate. 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.

Variable-Rate Loans: Annual Interest Rate = Base Rate + Loan Margin. The Base Rate is the 90-day average of the daily SOFR published by the Federal Reserve Bank of New York as of two business days immediately preceding the quarterly adjustment date. The APR is variable and may change as the Annual Interest Rate varies with the 90-day SOFR, and therefore, may increase during the life of the loan. 

Fixed-Rate Loans: The Interest Rate charged and the APR are constant for the life of the loan.

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5

Variable-Rate Loan Payment Example: Loan repayment depends on the repayment option elected by the borrower.

A) $25 Monthly Payment Option: Assuming a $10,000 loan amount, a 10-year term and a 8.72% 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 $164.42 to repay this loan. If the APR is 15.12% 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 $287.48 to repay this loan. The APR may increase during the life of the loan and can result in higher monthly payments.

B) 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.

Fixed-Rate Payment Example: Loan repayment depends on the repayment option elected by the borrower.

A) $25 Monthly Payment Option: Assuming a $10,000 loan amount, a 10-year term and a 7.91% 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 $152.84 to repay this loan. If the APR is 12.85% 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 $236.95 to repay this loan.

B) 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.

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6

Variable-Rate Payment Example: Assuming a $10,000 loan amount, a 7.26% APR, and a 15-year term, you would make 180 monthly payments of $91.34 to repay this loan. If the APR is 13.01% and the loan amount remains $10,000, you would make 180 monthly payments of $126.59. 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 6.35% APR, you would make 180 monthly payments of $86.29. If the APR is 11.80% and the loan amount remains $10,000, you would make 180 monthly payments of $118.73.

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