Navy Federal Credit Union Student Loans Review

Navy Federal Credit Union Student Loans is offered by Navy Federal Credit Union, a credit union founded in 1933 and based in Vienna, VA. Navy Federal Credit Union Student Loans is available in 50 states (and Washington, DC).

What rates does Navy Federal Credit Union Student Loans offer for in-school private student loan?

Navy Federal Credit Union Student Loans 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 Student Loans?

Available loan amounts may vary by applicant but Navy Federal Credit Union Student Loans has a minimum loan amount of $2K and offers loans up to $160K.

Does Navy Federal Credit Union Student Loans charge an origination fee?

No, Navy Federal Credit Union Student Loans 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 Student Loans charge prepayment fees?

No, Navy Federal Credit Union Student Loans 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 Student Loans offer?

Navy Federal Credit Union Student Loans provides repayment terms ranging from 5 to 20 years.

Navy Federal Credit Union Student Loans 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 Student Loans consider?

Navy Federal Credit Union Student Loans considers loans applications from:

• undergraduate students
• graduate students

What do you need to qualify for Navy Federal Credit Union Student Loans?

Applicants with a credit score of at least 660 and up to 850 are eligible for Navy Federal Credit Union Student Loans.

To qualify for private student loans with Navy Federal Credit Union Student Loans, applicants need a minimum annual income of $15,000 or higher. Navy Federal Credit Union Student Loans only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

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

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

• Proof of income
• Driver's license
• Proof of identity
• Proof of citizenship or residence permit
• Proof of residence
• References