Interest Rates
Variable Rates
6.50% – 13.25%
Variable Loan Terms
5, 10, 15
Fixed Rates
4.75% – 9.75%
Fixed Loan Terms
5, 10, 15
Borrow up to
$75,000.00
Rates shown include 0.25% discount.**
Parent Loan Refinance
Rates as low as
4.75% APR*
Refinance PLUS loan(s) or a child's student loan(s).
Variable Rates
7.25% – 13.25%
Variable Loan Terms
5, 10, 15
Fixed Rates
4.75% – 9.75%
Fixed Loan Terms
5, 10, 15
Borrow up to
$75,000.00
Rates shown include 0.25% discount.**
Typical Application & Funding Timeline
Application processing time can take up to 45 days. Don’t worry – we will keep you updated throughout the process.
Frequently Asked Questions
Please log in to your account or contact UAS at 877-530-9782 to set up automatic debit for your student loan payments.
University Accounting Service (UAS) will service your loan. Once your loan has been disbursed or entered repayment, you may contact UAS with questions at 877-530-9782. You can also manage your account at any time via our login page.
Fixed Interest Rate
A fixed rate loan is exactly as it sounds – the interest rate is fixed, or stays the same, for the entire life of your loan.
Pros: You’ll know what your interest rate is and won’t have to worry about fluctuations down the road.
Cons: The tradeoff for knowing what your rate will be for the long haul is that it is often a higher rate to start than a variable rate option.
Variable Interest Rate
When you select a variable rate loan, your interest rate will fluctuate over time based on the current index rate. Your lender adds a percentage to that base according to your credit score and history, and there is usually a limit or “ceiling rate” on how high your rate can go if the index increases.
Pros: Variable rate options are typically lower than fixed rate at the start of your loan. Additionally, if the index decreases in the future, so will your interest rate.
Cons: There is risk involved; while your rate could go down, it could also increase, meaning you will pay more in interest over time.
You can refinance all or some of your student loans – whichever option is best for you. Some borrowers choose not to refinance their federal student loans so they can hold on to existing benefits such as income based repayment plans or loan forgiveness.
Your student loans can be refinanced if they are in grace or repayment after you’ve graduated from an approved school.
Yes! If you have previously refinanced some or all of your student loans, you may wish to refinance again to take advantage of a lower rate.
Yes, you should continue to make your payments while your application is in process. You will be notified when the funds have been sent to the applicable servicers.
All loans being refinanced must be post separation from school.
Federal Education Loans:
- Federal Family Education Loan Program (FFELP)
- Subsidized or Unsubsidized (aka Stafford Loan)
- Grad or Parent PLUS William D. Ford Direct Loan Program Subsidized or Unsubsidized (aka Direct Stafford Loan)
- William D. Ford Direct Loan Program Undergraduate, Grad or Parent PLUS
- Perkins, Nursing or Health Education Assistance (HEAL)
- Consolidation
If you choose to refinance a federal loan, you will lose federal student loan benefits such as income driven repayment or loan forgiveness options that may be available on your current federal loan(s). In addition, federal student loans offer deferment and forbearance options that may not be available to you if you take out a private refinance loan. You may qualify for a Federal Direct Consolidation Loan. For additional information about a consolidation option for federal loans, contact the Department of Education at: studentaid.gov. See disclaimers for more details.
Private Education Loans:
- Undergrad
- Graduate
- Consolidation
Institutional Education Loans:
- Undergrad
- Graduate
- Consolidation
Consolidation means you are simply combining existing loans. Your total payment amount and total interest will likely remain the same, but you’ll have the convenience of making one payment rather than multiple payments. This type of loan is usually associated with federal government student loans.
When you refinance, you are taking out a single new loan to pay off your old ones. You’ll probably have a new interest rate, new terms, and a different monthly payment amount. This is the loan solution offered by your credit union.
* Subject to credit qualification and additional criteria, including graduating from an approved school.
** The APR will not fall below the floor rate regardless of the index or any additional rate discount.
† APR = Annual Percentage Rate.
‡ Approved schools subject to change without notice.
