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After Navigation
Home Student Loans Lender Reviews PenFed Credit Union Student Loan Review
  • Contents
  • Who is PenFed Credit Union?
  • PenFed Student Loans
  • What is PenFed Credit Union Student Loan Refinancing?
  • PenFed Student Loan Refinance
  • PenFed Parent Student Loan Refinance
  • How PenFed Gives Back
  • PenFed Credit Union Customer Service
  • PenFed Headquarters

PenFed Credit Union Student Loan Review

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By Edvisors Network
Updated on November 9, 2023
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A copy of this article has been sent to your email.

PenFed Credit Union is a partner lender from which we receive compensation. Edvisors® evaluates each lender we partner with and only recommend loan programs which we believe are a best fit for our audience.

Who is PenFed Credit Union?

Pentagon Federal Credit Union (PenFed) has been a stalwart in the financial institution industry ever since its inception in 1935. With over 2 million customers worldwide, PenFed's mission is to educate and inspire, bringing their customers' dreams to life. In partnership with Purefy, one of PenFed's esteemed partners, Edvisors offers loan solutions to our valued audience.

PenFed Student Loans

PenFed offers student loan refinancing. For in-school and parent loans we suggest you check out our compare lenders page.

What is PenFed Credit Union Student Loan Refinancing?

PenFed offers student loan refinancing with competitive variable or fixed rates. Refinancing with PenFed also gives you the ability to consolidate federal, private, and parent loans into one single loan and only one monthly payment. There is the option to utilize a cosigner, and this may help lower your rates even further. Borrowers can choose from 5, 8, 12, and 15 year payment plans. Some PenFed student loan refinancing eligibility requirements include:

  • Be or become a member of PenFed Credit Union
  • Borrower must be a U.S. citizen
  • Borrower must have a bachelor’s degree or higher
  • Borrower (and cosigner, if applicable) must show proof of income
  • Borrower (and cosigner, if applicable) must pass the PenFed credit requirements
  • There is a minimum loan amount of $7,500 and max loan amount of $300,000

PenFed Student Loan Refinance

Lender

purefy

Recommendation
Best for Student Loan Refinancing
Repayment Terms

5 to 20 years

Interest Rates

Variable: 1.74% APR - 7.99% APR

Fixed: 2.73% APR - 7.99% APR

Apply Now More Info
purefy

Purefy Student Loan Refinancing

  • Rates as low as 1.74% APR variable and 2.73% APR fixed.
  • Check your rate in 2 minutes with no impact on credit.
  • We search our network of top-rated lenders to ensure you get the best deal.
  • Options available if you experience financial hardship.
  • No origination fees or prepayment penalties.

Purefy Student Loan Refinancing Rate and Terms Disclosure: Annual Percentage Rates (APR) ranges and examples are based on information provided to Purefy by lenders participating in Purefy’s rate comparison platform. For student loan refinancing, the participating lenders offer fixed rates ranging from 2.73% – 7.99% APR, and variable rates ranging from 1.74% – 7.99% APR. The maximum variable rate is 25.00%. Your interest rate will be based on the lender’s requirements. In most cases, lenders determine the interest rates based on your credit score, degree type and other credit and financial criteria. Only borrowers with excellent credit and meeting other lender criteria will qualify for the lowest rate available. Rates and terms are subject to change at any time without notice. Terms and conditions apply.

PenFed Parent Student Loan Refinance

PenFed offers refinancing for Parent PLUS Loans with competitive variable and fixed rates. You can consolidate your parent loans into one single monthly payment and you have the ability to transfer payments to your student when they graduate, if needed. Eligibility requirements include:

  • Be or become a member of PenFed Credit Union
  • Borrower must be a U.S. citizen.
  • Borrower must have a bachelor’s degree or higher
  • Borrower (and cosigner, if applicable) must show proof of income
  • Borrower (and cosigner, if applicable) must pass the PenFed credit requirements
  • There is a minimum loan amount of $7,500 and max loan amount of $300,000
  • Parent must be the borrower of at least one private, federal, or parent loan
Pros Cons
 Students can refinance parent loans into their name Must have a yearly income of at least $42,000 or may be required to utilize a cosigner who does
 See your rate and monthly payment amount in a pre-qualification process prior to full credit check Must have a credit score of at least 670, whether you are refinancing solo or with a cosigner/spouse
The ability to consolidate all loans (federal, private, and parent) into one monthly loan and payment Only available for students who have obtained at least a bachelor's degree
 Choose your own repayment term (5, 8, 12, or 15 years) If including federal student loan, losing borrower benefits offered to federal student loans
 Quick and easy online application with no fees  

How PenFed Gives Back

PenFed Federal Credit Union gives back to nonprofit organizations each year. Employees choose local charities they feel align with the morals and values of the credit union to serve their communities and beyond.

PenFed Credit Union Customer Service

PenFed customer service is available via the web 24/7 on their website and available by phone Monday through Friday depending on where you are located. PenFed Credit Union has a 3-star Trustpilot review.

PenFed Headquarters

The PenFed headquarters are in Tyson, Virginia.

Could student loan refinancing save you money?
Learn More

 

 

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Edvisors provides expert advice on planning and paying for college. On Edvisors.com easily compare student loan lenders, learn how to apply for financial aid, and discover scholarships. Learn about federal and private student loans for students and parents, how and when to apply to college, and more!

Edvisors (“Edvisors Network, Inc.”) provides independent advertising-supported platforms for consumers to search compare and apply for private student loans. Loan offers from participating lenders that appear on our websites are not affiliated with any college and/or universities, and there are no colleges and/or universities which endorse Edvisors’ products or services. Lender search results do not constitute an official college preferred lender list. Edvisors receives compensation from lenders that appear on this site. This compensation may impact the placement of where lenders appear on this site, for example, the order in which the lenders appear when included in a list. Not all lenders participate in our sites and lenders that do participate may not offer loans to every school.

Edvisors is not a lender and makes no representations or warranties about your eligibility for a particular loan or financial aid. Lenders are solely responsible for any and all credit decisions, loan approval and rates, terms and other costs of the loan offered and may vary based upon the lender you select. Please check with your school or lender directly for information related to your personal eligibility.

Edvisors has endeavored to provide accurate information. However, the results provided by lenders are for illustrative purposes only and accuracy is not guaranteed, as such, Edvisors assumes no responsibility for errors or omission in the information provided.

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