Where does Navy Federal Credit Union do business?
Navy Federal Credit Union is a credit union based in Vienna, VA. It was founded in 1933 and offers student loans in 50 states (and Washington, DC).
What rates does Navy Federal Credit Union offer for in-school private student loan?
Navy Federal Credit Union has a variable APR that ranges from 4.74% up to 11.39%.
It offers a fixed APR that ranges from 6.28% up to 11.99%.
Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.
How much can you borrow from Navy Federal Credit Union?
Available loan amounts may vary by applicant but Navy Federal Credit Union has a minimum loan amount of $2,000 and offers loans up to $160,000.
Does Navy Federal Credit Union charge an origination fee?
No, Navy Federal 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 Navy Federal Credit Union charge prepayment fees?
No, Navy Federal 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 Navy Federal Credit Union offer?
Navy Federal Credit Union provides repayment terms ranging from 5 to 20 years.
Navy Federal Credit Union offers borrowers unemployment protection. This means that if you lose your job -- or you have just finished school -- your loan payments are placed on a temporary hold.
What type of borrowers will Navy Federal Credit Union consider?
Navy Federal Credit Union considers loans applications from:
- undergraduate students
- graduate students
What do you need to qualify for a loan with Navy Federal Credit Union?
Applicants with a credit score of at least 660 can apply for a loan via Navy Federal Credit Union.
Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.
Borrower or cosigner must have a minimum income of $15,000 to qualify. Navy Federal Credit Union only considers borrowers who are employed and have an annual income of $15,000 or higher.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Driver's license
- Proof of identity
- Proof of citizenship or residence permit
- Proof of income
820 Follin Ln SE
Vienna, VA 22180 USA
- Visit Site
Other Services by Navy Federal Credit Union
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Origination Fee|
|No Prepayment Fee|
|Late Fee After (number of days)||15|
|Late Fee Amount||$20|
|Credit Score Range||
660 - 850
850 300 660
|Immigration Status Considered||
|Minimum Annual Income||$15,000|
|Employment Statuses Considered||
|Verification Documents Required||
|Funding Time Range (in days)||1 - 7|
|Good Student Rewards|
|Variable APR||4.74% - 11.39%|
|Loan Amount||$2K - $160K|
|Loan Term (Years)||5 - 20|
|Fixed APR||6.28% - 11.99%|
|Up to Cost of Attendance|