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Thrivent Student Loan Review

What is Thrivent Student Loans?

Thrivent Credit Union (TCU) is a private student loan lender dedicated to supporting “every face of your financial life.” As a credit union, TCU is a non-profit lender which is owned by its members. That means if you are eligible to join, you can access the member benefits that include more than just low interest rates.

Thrivent Student Loans

Thrivent Credit Union offers in-school student loans, a student line of credit and private student loan refinancing.Apply for a Thrivent Private Student Loan: Thrivent Ad

Loans for Students

Thrivent Student Loan

Thrivent offers private student loans for students at competitive fixed or variable rates for a term of 180 months. To borrow a Thrivent student loan, you and your cosigner (if required) must be a U.S. citizen or permanent resident. You must be the age of majority in your state and enrolled in school at least half-time. Applying with a cosigner may afford you a better rate.
You may choose from the following repayment options:

  • Make no payments while in school
  • Make minimum payments while in school
  • Make interest only payments while in school
  • Make loan payment immediately (approx. 45 days after the loan has been disbursed to your school)

Thrivent Student Line of Credit

Thrivent offers a unique Student Tuition Line of Credit. This loan comes with a variable interest rate, no origination fees and four repayment options. Unlike traditional private student loans, this line of credit comes with the ability to “request a draw of funds for each subsequent academic year after your initial application.” With the Student Tuition Line of Credit, borrowers may qualify to borrow a maximum of $80,000. Students may request a draw funds from their existing line of credit each year—there is no need for additional application with a credit line. 

You may choose from the following repayment options:

  • Make no payments while in school
  • Make minimum payments while in school
  • Make interest only payments while in school
  • Make loan payment immediately (approx. 45 days after the loan has been disbursed to your school)
Pros Cons
Competitive interest rates Must be (or become) a member of Thrivent Credit Union
Student Loan Line of Credit (minimum of $1,000) Student loan limit is $80,000 for the entire time you are in school.  The maximum loan amount will be the certified need determined by your school, up to a maximum of $80,000 per student.
No application fees Most borrowers will need a cosigner to qualify
0.25% ACH discount when enrolled in auto-pay

Thrivent Student Loan Refinance 

Thrivent offers student loan refinancing with low fixed or variable rates. You may choose to make full or graduated payments, and choose a repayment term of 60, 120 or 180 months. Ideal borrowers have an annual income of at least $30,000 and two years of credit history, plus continuous employment or income.

How Thrivent Gives Back

Thrivent is a member-owned credit union with a focus on giving back. Thrivent runs the Thrivent Action Teams program to help members serve unmet needs in their communities. Thrivent also partners with Habitat for Humanity to make a lasting impact on a global and local scale.

Thrivent Customer Service

Thrivent’s client services are available via phone Monday through Friday 7 a.m. to   p.m. CST. You may also contact them through a form on their website and have a representative reach out to you. 

Thrivent Headquarters

Thrivent corporate center is located in Minneapolis, MN, with an operations center in Appleton, WI.

 

 

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