PenFed Credit Union

in Student Loan Refinancing from PenFed Credit Union

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PenFed Credit Union


in Student Loan Refinancing from PenFed Credit Union

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Community Rating Strongly recommended
Fixed APR 3.5% - 7.28%
Variable APR 3.56% - 7.34%
Loan Amount $7,500 - $300,000
Loan Term (Years) 5 - 15


Where does PenFed Credit Union do business?

PenFed Credit Union is a credit union based in Tysons, VA. It was founded in 1935 and offers student loan refinancing in 50 states (and Washington, DC).

What APRs does PenFed Credit Union 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. 

PenFed Credit Union offers variable rate APRs that range from 3.56% to 7.34%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 3.5% to 7.28% APR.

How much can you borrow via PenFed Credit Union?

Loan amounts start at $7,500 and go up to $300,000

Does PenFed Credit Union charge an origination fee?

No, PenFed Credit Union 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 PenFed Credit Union charge prepayment fees?

No, PenFed Credit Union 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 PenFed Credit Union offer?

PenFed Credit Union provides refinancing loans of 5 to 15 years.

What type of borrowers will PenFed Credit Union consider?

PenFed Credit Union considers loans applications from:

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

What do you need to qualify for a PenFed Credit Union student loan refinance?

Applicants with a credit score of at least 670 can apply for a loan via PenFed Credit Union.

Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.

Only U.S. citizens can apply for a loan. 

To qualify, applicants must provide the following documentation:

  • Proof of identity
  • Proof of citizenship or residence permit
  • Recent pay stubs
  • Proof of income
  • Proof of graduation
  • Loan payoff statements

What is the estimated funding time for a student loan refinance via PenFed Credit Union?

PenFed Credit Union will typically fund loans within 3 and 14 days of approval.

PENFED CREDIT UNION Disclosure: All estimates are based on information provided by you and are for informational purposes only, accuracy is not guaranteed and may not reflect actual rates or savings and do not constitute an offer of credit. Your actual rate, payment and savings may be different based on credit history, actual interest rate, loan amount, and term, including your cosigner [if applicable]. If applying with a cosigner, we use the higher credit score between the borrower and the cosigner for approval purposes. All loans are subject to credit approval. PenFed Student Loan Refinance Program is not offered or endorsed by any college or university. PenFed is not affiliated with and does not endorse any college or university listed on this website. You should review the benefits of your federal student loan; it may offer specific benefits that a private refinance/consolidation loan may not offer. If you work in the private sector, are in the military or taking advantage of a federal department of relief program, such as income based repayment or public service forgiveness, you may not want to refinance, as these benefits do not transfer to private refinance/consolidation loans. PenFed reserves the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet PenFed's underwriting requirements. Lowest rates are reserved for the most qualified borrowers. This information is current as of 06/01/2018. PenFed loans are originated by Pentagon Federal Credit Union. This credit union is federally insured by the National Credit Union Administration.
SUPERMONEY Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


  • Headquarters
  •   7940 Jones Branch Drive
    Tysons, VA 22102 USA
  •   Visit Site

Message from PenFed Credit Union

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.6 million members and over $24 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.

Other Services by PenFed Credit Union


Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
Origination Fee 0%
Cosigner Optional  
Co-signing Allowed  
Credit Score Range 670 - 850
Immigration Status Considered
  • U.S. Citizen
Minimum Annual Income $42,000
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Joint Loan Applications Accepted
  • Cosigner
Verification Documents Required
  • Loan Payoff Statements
  • Proof of Graduation
  • Proof of Identity
  • Proof of Income
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Variable APR 3.56% - 7.34%
Loan Amount $7.5K - $300K
Loan Term (Years) 5 - 15
Fixed APR 3.5% - 7.28%



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