Refinance FAQs

For more information on the maximum loan amount, please visit our product overview page. Make sure to review your existing loans carefully so that you borrow the exact amount you need.

Payoff verification may be a 30-day payoff statement issued from the creditor with a payoff valid through a specified date, or a screenshot from the creditor's website showing this information. The payoff verification must include the creditor name and address, current loan balance or calculated payoff amount, and the borrower account number.

Consolidation means you are simply combining existing loans. Your total payment amount and total interest will likely remain the same, but you'll have the convenience of making one payment rather than multiple payments. This type of loan is usually associated with federal government student loans.

When you refinance, you are taking out a single new loan to pay off your old ones. You'll probably have a new interest rate, new terms, and a different monthly payment amount. This is the loan solution offered by your credit union.

You will be quoted a rate after your application has been submitted and reviewed. There is no obligation to take the loan once you apply. View our current rates. We encourage you to apply and evaluate your options before making a final decision.

Please visit our eligibility page to learn more about loan types eligible for refinance.

Please view our eligibility page.

No, individuals may not consolidate loans together.

In order to fund the loan, the borrower must be a member of the credit union. To expedite funding, visit your credit union branch or website to open your membership account while we are processing your loan.

A borrower is not required to apply with a cosigner. However, applying with a credit worthy cosigner may improve a borrower's chance of meeting the credit union's approval criteria and potentially qualify for the loan at a lower interest rate.

No, your spouse would have to be the cosigner.

Yes. You and your parents will be required to sign an affidavit.

A cosigner release option is available to credit worthy borrowers who make 48 consecutive on-time payments during the principal and interest repayment period, and meet additional requirements (such as salary and debt-to-income ratio). You must apply and be approved for this option after the 48 month period. Other terms and conditions may apply, and option may be revoked or modified without notice.

Yes, you should continue to make your payments while your application is in process. You will be notified when the funds have been sent to the applicable servicers.

No. There is no pre-payment fee and you can pay off the loan at any time.*

*See rates page for additional information, repayment examples, and important disclosures.

We do not offer an in-school deferent option for student loan refinance.