Last Updated: 10/10/2025
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Highlights
Fixed APR
2.99% - 5.15%
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Variable APR
2.19% - 4.49%
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Amount Range
$7,500 - $300,000
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Loan Term (Years)
5 - 15
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PenFed CU Student Loan Refinance Review
PenFed CU Student Loan Refinance is a student loan refinance offering by PenFed Credit Union . Founded in 1935, PenFed Credit Union offers student loan refinancing in 50 states and Washington, DC.
PenFed CU Student Loan Refinance FAQ
What APRs does PenFed CU Student Loan Refinance 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 CU Student Loan Refinance offers variable rate APRs that range from 2.19% to 4.49%.Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 2.99% to 5.15% APR.
How much can you borrow via PenFed CU Student Loan Refinance?
Loan amounts start at $7,500 and go up to $300,000
Does PenFed CU Student Loan Refinance charge an origination fee?
No, PenFed CU Student Loan Refinance 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 CU Student Loan Refinance charge prepayment fees?
No, PenFed CU Student Loan Refinance 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 CU Student Loan Refinance offer?
PenFed CU Student Loan Refinance provides refinancing loans of 5 to 15 years.
What type of borrowers will PenFed CU Student Loan Refinance consider?
PenFed CU Student Loan Refinance considers loans applications from:
What do you need to qualify for PenFed CU Student Loan Refinance?
Applicants with a credit score of at least 670 and up to 850 may be eligible for PenFed CU Student Loan Refinance. PenFed CU Student Loan Refinance does not have or does not disclose a minimum annual income eligibility requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.
U.S. citizens are eligible to apply for the services offered by PenFed CU Student Loan Refinance.
To qualify, applicants may need to provide the following documentation:
- Loan payoff statements
- Recent pay stubs
- Proof of income
- Driver's license or other government photo ID
- Proof of identity
- Proof of citizenship or residence permit
What is the estimated funding time for a student loan refinance via PenFed CU Student Loan Refinance?
PenFed CU Student Loan Refinance will typically fund loans within 3 and 14 days of approval.
PenFed CU Student Loan Refinance 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: SuperMoney.com 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...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from PenFed CU Student Loan Refinance
Message from our editor
What we love about PenFed
PenFed is a credit union that operates in all fifty states, Washington D.C., Puerto Rico, Guam, and Okinawa, meaning that almost every American can do business with the company.
The company offers highly flexible student loan refinancing, with low minimums and high maximums. The terms of the refinancing loans are also flexible, letting you customize your monthly payment. You can also select from fixed and variable interest rates. There are no origination, application, or early repayment fees.
As a credit union, PenFed must have eligibility requirements for members, but these requirements are easy for almost anyone to meet.
What could PenFed do better?
PenFed does not advertise any deferment or forbearance programs for its student loan refinancing program. You may be giving up these benefits if you refinance your debt with PenFed, which is an important consideration.
The company also may not have the best interest rates in the market. If you shop around, you may find another lender that will give you a better deal.
While PenFed does allow cosigners and has easy requirements for joining the credit union, it does have restrictions on who can qualify for a loan. You’ll need to meet education, income, employment, and credit score requirements before you can refinance with PenFed.
PenFed’s backstory
PenFed is a federal credit union founded in 1935. It is the third-largest credit union in the United States, with more than $25 billion in assets and 1.8 million members.
The Verdict
PenFed offers highly flexible student loan refinancing with a quick and easy online application. The company might not have the best interest rates, but it is worth including PenFed in your rate shopping, as you may be able to get a good deal.
Hours of Operation
Sunday
Closed
Monday
8:00AM - 4:00PM
Tuesday
8:00AM - 4:00PM
Wednesday
8:00AM - 4:00PM
Thursday
8:00AM - 4:00PM
Friday
8:00AM - 4:00PM
Saturday
Closed
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PenFed CU Student Loan Refinance Community Reviews
Would you recommend PenFed CU Student Loan Refinance to your friends?
FJ
Felicial J.
May 20, 2021
May or may not recommend
My experience with PenFed credit is just wow! Good credit support for students. Its rates are low and no processing fees. I recommend PenFed credit to students looking for credit services.
Andy H.
Feb 19, 2021
May or may not recommend
Great refinance rate and fairly easy application and approval process. However be warned payoffs are done via a paper check send via USPS, and they start charging interest from the day they issue the check. My payoff didn't clear my previous servicer for almost a month, leaving me on the hook paying interest on BOTH loans to the tune of an extra $250. Seems like it would be ...Show More
BE
Bill E.
Jun 14, 2018
May or may not recommend
Ridiculously good service and support. The rate quoted was exactly what I received. Nice to find a lender that works fast and doesn't play any games. Can't say enough good things about the experience.
Miron L.
Jun 11, 2018
May or may not recommend
PenFed have some of the best rates you are going to find anywhere. Additionally, they have no origination fees or prepayment penalties associated with the loans. If you can quality, there's a good chance that PenFed is going to have the lowest rate available for you.
Showing 4 of 4 reviews
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