Educators Credit Union Student Loan Refinancing Review

Educators Credit Union Student Loan Refinancing is a student loan refinance offering by Educators Credit Union, . Founded in 1937, Educators Credit Union offers student loan refinancing in 1 state across the USA.

What APRs does Educators Credit Union Student Loan Refinancing offer on its student refinancing loans?

The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate. 

Educators Credit Union Student Loan Refinancing offers variable rate APRs that range from 1.99% to 5.25%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 2.99% to 7.75% APR.

How much can you borrow via Educators Credit Union Student Loan Refinancing?

Loan amounts start at $5,000 and go up to $300,000

Does Educators Credit Union Student Loan Refinancing charge an origination fee?

No, Educators Credit Union Student Loan Refinancing does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Educators Credit Union Student Loan Refinancing charge prepayment fees?

No, Educators Credit Union Student Loan Refinancing does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does Educators Credit Union Student Loan Refinancing offer?

Educators Credit Union Student Loan Refinancing provides refinancing loans of 5 to 20 years.

What type of borrowers will Educators Credit Union Student Loan Refinancing consider?

Educators Credit Union Student Loan Refinancing considers loans applications from:

• undergraduate students
• graduate students
• parents of students
• undergraduate degree holders
• graduate degree holders
• parents of graduates

What do you need to qualify for Educators Credit Union Student Loan Refinancing?

To qualify for student loan refinancing with Educators Credit Union Student Loan Refinancing, applicants need a minimum annual income of $24,000 or higher. Educators Credit Union Student Loan Refinancing will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Educators Credit Union Student Loan Refinancing. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Educators Credit Union Student Loan Refinancing. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Proof of graduation
• Proof of income
• Driver's license
• Government issued photo ID
• Proof of identity
• Proof of residence