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U-fi is a new player in the student loans market that was was launched in 2015. It was formed by a partnership between Nelnet and the Union Bank and Trust Company. Nelnet is a large student loan servicer with headquarters in Lincoln, Nebraska, that was founded in 1978, has offices around the United States and Canada, and employs over 2,250 associates. U-fi provides new student loans and refinances existing student loans.

How Does U-fi's Student Loans Work?

U-fi provides three main products: refinance loans, undergraduate loans and graduate loans. Each product has its own rates and terms. Loan refinances help students consolidate their student loans and reduce the cost of interest payments. Undergraduate loans are aimed at helping new students pay their education-related expenses. Graduate loans are aimed at people who need money to pay for a professional or graduate degree.

U-fi loans do not charge application, origination, disbursement or prepayment fees. Term are flexible and borrowers who enroll in automatic debit payments receive a rate reduction. Borrowers who receive good grades: that is a GPA of 3.0 or higher, get cash back rewards of up to 1.5% of the loan amount. Borrowers who make 12 on-time monthly payments also receive cash back rewards of 1.5% of the current balance. Cash back rewards have a yearly maximum of $500 per borrower. After 24 consecutive on-time payments borrowers can request the release of their cosigners.

What Are U-fi's Rates?

Rates vary depending on a variety of factors such as the type of loan and the borrower's credit profile.

For private student loans, you can choose between having a variable or fixed APR. 

  • U-fi's variable rate APRs range from 3.12% to 10.84%.
  • U-fi's fixed rate APRs range from 5.09% to 12.58% APR.

How Much Money Can I Borrow from U-fi?

Loan limits also vary depending on the type of loan.

- New undergraduate student loans have a minimum of $1,000 and a maximum of $125,000.

- New graduate student loans range from $1,000 to $150,000 for graduate or doctorate degrees, $175,000 for MBA or graduate law degrees, and $225,000 for graduate health profession degrees.

Repayment terms range from 5 to 15 years for new loans and up to 25 years for refinance loans. The 20-year terms are only for borrowers who have loan amounts of $25,000 or more, while the 25-year terms are for those with loan amounts of $75,000 or more.

Which States Does U-fi Operate In?

U-fi student loans are available in all 50 states.

What Is U-fi's Application Process Like?

Borrowers can apply for a student loan with U-fi online with no risk, because U-fi will give you a firm rate based on a soft credit pull that won't hurt your credit score. The approval waiting periods are short but it can take 5 to 6 weeks for the funds to reach your college or university. The application process is transparent and easy to navigate. Costs and rates are clearly explained and there are no origination, application or prepayment fees.

Borrowers of new student loans must be at least 18 years old (17 with a cosigner), attend an eligible school full- or part-time and have an income of at least $12,000. Students who have a cosigner are not required to have a source of income. Borrowers of refinance loans must have an annual income of at least $24,000 and no longer attend school on a half-time or more basis.

How Is U-fi Better than Other Lenders?

U-fi maybe a new player in the student loans market but it is backed by an experienced leader in the student loans sector that services up to a third of all federal loans. This is a well-financed company with a solid management team and a clear and transparent application process. Rates are extremely low and terms are flexible. We particularly like the cash back rewards for good students and borrowers who make 12 on-time monthly payments.

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...



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 49 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
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period for Late Payment (Days) 6
No Origination Fee  
No Prepayment Fee  
Cosigner Optional  
Credit Score Range 650 - 850
850 300 650
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Verification Documents Required
  • Proof of Income
  • Proof of Residence
  • References
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Funding Time Range (in days) 7 - 14
Good Student Rewards  
Variable APR 3.12% - 10.84%
Loan Amount Starting at $1K
Loan Term (Years) 5 - 25
Fixed APR 5.09% - 12.58%
Up to Cost of Attendance  

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