USAA doesn’t offer private student loans or student loan refinancing in 2026. It discontinued its student lending services in 2016, and existing USAA student loans are now serviced by Wells Fargo.
If you’re looking for a similar military-focused option, Navy Federal Credit Union is the closest match. Below, we break down the best USAA alternatives for in-school loans and refinancing.
Table of Contents
- What happened to USAA student loans?
- Does USAA offer student loan refinancing?
- Best alternatives
- College Ave vs. Sallie Mae: Which is better for former USAA borrowers?
- USAA alternatives for student loan refinancing
- How to manage an existing USAA student loan
- How to refinance USAA student loans
- Military repayment options to know
- FAQ
What happened to USAA student loans?
USAA used to offer private student loans and student loan refinancing through a partnership with Wells Fargo. In 2016, USAA ended that partnership and exited the student lending market entirely.
Since then:
- USAA has not originated new student loans.
- It has not offered student loan refinancing.
- Existing loans transitioned fully to Wells Fargo for servicing.
If you borrowed a USAA student loan before 2016, your loan is now managed by Wells Fargo Education Financial Services. USAA no longer plays a role in those accounts.
Does USAA offer student loan refinancing?
No, USAA does not offer student loan refinancing.
When it exited the student loan market in 2016, it discontinued private student loans and student loan refinance products
If you want to refinance a former USAA student loan (or any other private or federal loan), you’ll need to apply through a private lender such as SoFi, Earnest, or ELFI. You can also compare offers through a marketplace such as Credible.
Before refinancing, compare:
- Your current interest rate
- Any existing discounts
- Loan term length
- Military-related benefits (such as SCRA protections)
Interested in refi? Jump to our list of the best alternatives to USAA for refinancing.
Best alternatives to USAA student loans (for military borrowers)
Navy Federal Credit Union (Best student loan for military families in 2026)
Navy Federal Credit Union is the closest match to what USAA used to offer.
Like USAA, it:
- Is a members-only credit union
- Serves active-duty military, veterans, and their families
- Operates nationwide
- Offers personalized member support
Why we think Navy Federal stands out:
- Covers up to 100% of school costs
- Offers undergrad and graduate loans
- Provides career assistance programs
- Allows cosigner release after 24 on-time payments
That said, it does have some limitations:
- No soft credit prequalification
- Repayment terms max out at 10 years
- Rates may be higher than some national online lenders
Rates & funding
| Fixed rates (APR) | 5.50%+ |
| Variable rates (APR) | 7.79%+ |
| Rate discounts | 0.25% for automatic payments |
| Loan amounts | Up to 100% of costs |
Eligibility
| Loan types | Undergrad, grad |
| Min. credit score | None |
| Min. income | None |
| Enrollment | Undisclosed |
| Citizenship | U.S. citizen or permanent resident |
| State | All 50 states |
Repayment
| In-school repayment | Full, interest-only, or flat |
| Repayment terms | 5 or 10 years |
| Grace period | 6 months |
| Deferment | Undisclosed |
| Forbearance | Undisclosed |
| Cosigner release | 24 on-time payments |
If military membership, community support, and credit union structure matter most to you, Navy Federal is the most similar option to a former USAA loan.
If you’re focused strictly on the lowest rates or flexible repayment terms, top-rated lenders such as College Ave or Sallie Mae can offer more customization.
College Ave
College Ave offers personalized solutions to undergraduates, graduates, parents, and career trainees. Its online experience is the best of all the companies we reviewed, featuring interactive calculators and tools that let you customize your loan terms and see how each choice affects your total cost.
- Covers up to 100% of school costs
- Low starting interest rates
- Quick 3-minute online application
- Excellent educational resources and interactive tools
- You choose your repayment plan and term length
- Multi-Year Peace of Mind program for additional loans
- Cosigners can’t be released until halfway through repayment
- Higher interest rates for applicants with bad credit
Rates & funding
| Fixed rates (APR) | 4.39% – 16.49% |
| Variable rates (APR) | 5.59% – 16.85 |
| Rate discounts | 0.25% for automatic payments |
| Loan amounts | $1,000 – 100% of school costs |
Eligibility
| Loan types | Undergrad, grad, parent, career training |
| Min. credit score | Mid-600s |
| Min. income | $35,000 per year |
| Enrollment | Half time or more |
| Citizenship | U.S. citizen, permanent resident, or international |
| State | All 50 states |
Repayment
| In-school repayment | Full, interest-only, fixed, deferred |
| Repayment terms | 5, 8, 10, or 15 years |
| Grace period | 6 months for undergrads, 9 months for grads, apply for 6-month extension |
| Deferment | In-school and military |
| Forbearance | Up to 12 months, in increments of 3 or 6 months |
| Cosigner release | After finishing more than half of the scheduled repayment period and meeting additional criteria |
Sallie Mae
Sallie Mae recognizes the Servicemembers Civil Relief Act (SCRA) for active-duty military members in repayment. In addition to these benefits, which include deferment and forbearance, Sallie Mae extends the SCRA interest rate for an additional year after the military service ends.
- Recognizes the SCRA for active-duty military members
- Cosigner release in as little as 12 months
- Receive funds for the full year with one application
- Covers up to 100% of school costs
- Low starting interest rates
- Part-time and career-training students are eligible
- Lower interest rates for in-school repayment
- No prequalification with a soft credit check
- Less loan customization than other lenders
Rates & funding
| Fixed rates (APR) | 4.50% – 15.49% |
| Variable rates (APR) | 6.37% – 16.70% |
| Rate discounts | 0.25% for automatic payments |
| Loan amounts | $1,000 – 100% of costs |
Eligibility
| Loan types | Undergrad, grad, parent, career training |
| Min. credit score | Mid-600s |
| Min. income | Not disclosed |
| Enrollment | Half time or more |
| Citizenship | U.S. citizen or permanent resident or non-U.S. citizen with a cosigner who is a U.S. citizen or permanent resident |
| State | All 50 states, plus Washington, D.C., and Puerto Rico |
Repayment
| In-school repayment | Interest only, fixed, deferred |
| Repayment terms | 10 – 15 years |
| Grace period | 6 months |
| Deferment | In-school, military, internship, residency, and fellowship |
| Forbearance | Up to 12 months, in increments of 3 months |
| Cosigner release | After 12 consecutive on-time payments |
Earnest
Earnest honors the Servicemembers Civil Relief Act (SCRA) interest rate cap and automatically applies the discount by cross-referencing the client database with the Department of Defense Service Member Database.
- 100% rate-match guarantee (with $100 Amazon gift card)
- 9-month grace period vs. 6 months for most others
- Skip one payment each year without penalty if needed
- No application or late payment fees
- 2-minute eligibility check with no credit impact
- Doesn’t allow cosigners to be released
Rates & funding
| Fixed rates (APR) | 4.11% – 15.90% |
| Variable rates (APR) | 5.62% – 16.20% |
| Rate discounts | 0.25% for automatic payments |
| Loan amounts | $1,000 – 100% of costs |
Eligibility
| Loan types | Undergrad, grad, parent |
| Min. credit score | 650 |
| Min. income | $35,000 per year |
| Enrollment | All states other than Nevada, plus Washington, D.C. |
| Citizenship | U.S. citizen or permanent resident or non-U.S. citizen with a cosigner who is a U.S. citizen or permanent resident |
| State | All states other than Nevada, plus Washington D.C. |
Repayment
| In-school repayment | Full, interest-only, fixed, deferred |
| Repayment terms | 5, 7, 10, 12, or 15 years |
| Grace period | 9 months |
| Deferment | In-school, military, residency, fellowship |
| Forbearance | Up to 12 months |
| Cosigner release | No |
College Ave vs. Sallie Mae: Which is better for former USAA borrowers?
If Navy Federal Credit Union isn’t right for you, you might have narrowed down your decision to College Ave and Sallie Mae loans. Here’s what to consider:
cosigner release
Halfway through term
12 months
military benefits
Military deferment
SCRA recognition
great for
Customization
Fast cosigner release
USAA alternatives for student loan refinancing
If you’re looking to refinance a USAA student loan, here are our top lender picks in 2026:
Credible
Credible lets you view multiple prequalified refinance offers in one place. It’s ideal for borrowers who want to shop around quickly without affecting their credit.
- Compare prequalified rates from multiple lenders
- Requesting your rates on Credible is free
Rates & funding
| Rates (APR) | 4.75% – 14.52% |
| Loan amounts | Varies by lender |
| Repayment terms | Varies by lender |
Eligibility requirements
Eligibility requirements vary by lender in Credible’s partner network.
Repayment details
Your repayment terms will depend on the options available from the lender you choose.
SoFi
SoFi® offers exclusive perks like financial planning, member events, and a generous referral program.
- Refinance your total outstanding loan balance
- Checking your rates doesn’t affect your credit
Rates & funding
| Fixed rates (APR) | 5.24 – 9.99 w/ all discounts |
| Variable rates (APR) | 6.24 – 9.99 w/ all discounts |
| Loan amounts | $5,000 – 100% of outstanding balance |
| Repayment terms | 5, 7, 10, 15, or 20 years |
Eligibility requirements
- U.S. citizen or permanent resident
- Lends to all 50 states + District of Columbia
- Credit score of at least Not Disclosed (or apply with a cosigner with at least that credit score)
- No minimum income requirement, but you must have free cash available after monthly expenses
- Proof of employment or job offer starting within 90 days
- Associate degree or higher from a Title IV accredited school
Repayment details
- Choose between five, seven, 10, 15, or 20-year repayment terms.
- SoFi sends funds to current loan servicers after signing final documents and a three-day rescission period. First payment to SoFi is due 30 to 45 days after paying off previous loans.
ELFI
ELFI provides dedicated loan advisors to guide you through the refinance process and competitive fixed and variable rates.
- Refinance your total outstanding balance
- Assigned a student loan advisor
Rates & funding
| Rates (APR) | 5.28% – 8.99% |
| Loan amounts | $10,000 – 100% of outstanding balance |
| Repayment terms | 5, 7, 10, 15, or 20 years |
Eligibility requirements
- Must be a U.S. citizen or permanent resident without conditions
- Lending across all 50 states and Puerto Rico
- Bachelor’s degree or higher required
- Minimum credit score: 680 and at least 36 months of credit history
- Minimum income: $35,000
- Cosigner allowed, but no cosigner release
Repayment details
- Term options for student loan refinancing include five, seven, 10, 15, and 20 years
- Term options for parent loan refinancing include five, seven and 10 years.
- Repayment begins once ELFI pays off the original loans, which is typically 30 – 45 days after you sign your loan documents.
Earnest
Earnest stands out among student loan refinance lenders for military borrowers because it proactively honors the Servicemembers Civil Relief Act (SCRA) and applies the interest rate cap automatically.
- Customize your repayment term
- Skip a payment once per year, if needed
Rates & funding
| Rates (APR) | 5.19% to 9.74% |
| Loan amounts | $5,000 – $500,000 |
| Repayment terms | 5 – 20 years |
Eligibility requirements
- U.S. citizen or holder of a 10-year Permanent Resident Card
- Lends to District of Columbia and 49 states (except Nevada)
- If you don’t have a degree, you must have been out of school for more than six years, have a credit score of 700 or above, and the school you attended cannot be for-profit
- Minimum credit score: 665 (without cosigners) & 650 (with cosigners)
- Minimum income: Not stated, but steady employment is required
Repayment details
- Term options range from five to 20 years, with the flexibility to choose and customize your plan when you sign your loan documents.
- Option to skip one payment per year without penalty.
How to manage an existing USAA student loan
If you borrowed a USAA student loan before 2016, your loan is now serviced by Wells Fargo. Contact Wells Fargo Education Financial Services at 800-658-3567 with any questions about your loan.
How to refinance USAA student loans
You can refinance a former USAA student loan with any private refinance lender. Before applying, compare your current rate and confirm whether you’ll lose any borrower benefits.
Military repayment options to know
Military borrowers may qualify for certain protections and benefits, including:
- Servicemembers Civil Relief Act (SCRA): Caps interest at 6% during active duty.
- Military deferment or forbearance: Available from many private lenders.
- Public Service Loan Forgiveness (federal loans only): Forgives remaining balance after 120 qualifying payments.
If you’re comparing private lenders, ask how each handles active-duty deployment and SCRA protections.
Takeaway: USAA no longer offers private student loans or refinancing, but we’ve researched several strong alternatives. Navy Federal Credit Union is the closest match for military families who want a similar credit union experience. If you’re focused on lower rates or flexible terms, lenders such as College Ave, Sallie Mae, and Earnest are worth comparing.
FAQ
Does USAA offer other types of loans?
Yes. USAA offers several other financial products, including:
- Auto loans
- Personal loans
- Credit cards
- Mortgages
- Banking and insurance products
However, it does not offer private student loans or student loan refinancing.
Why did USAA stop offering student loans?
USAA discontinued its student loan products in 2016 after ending its partnership with Wells Fargo. The company chose to refocus on its core banking, insurance, and lending services rather than continue offering education loans.
Who services USAA student loans now?
Wells Fargo services former USAA student loans.
If you borrowed a USAA student loan before 2016, you should contact Wells Fargo Education Financial Services for repayment plan changes, cosigner release requests, payment assistance, or account questions
USAA no longer manages these loans.
Can you refinance a USAA student loan?
Yes. You can refinance a former USAA student loan with any private refinance lender.
Common reasons to refinance include:
- Lowering your interest rate
- Extending your repayment term
- Combining multiple loans
- Removing a cosigner
Before refinancing, compare your current rate and review whether you’ll lose any existing borrower benefits.
Is Navy Federal better than USAA for student loans?
Today, Navy Federal is the better option because USAA no longer offers student loans.
For military families who want a credit union experience similar to USAA, Navy Federal is the closest alternative. It specializes in serving active-duty members, veterans, and their families.
However, “better” depends on your priorities. Online lenders such as College Ave or Earnest may offer lower starting interest rates, more repayment term options, and faster digital applications.
If military-focused service is your top priority, Navy Federal is likely your best fit.
Does USAA offer parent student loans?
No. USAA does not offer parent student loans.
If you’re a parent looking to borrow for your child’s education, you may consider federal Direct PLUS Loans (Parent PLUS) or private parent student loans.
Be sure to compare rates, repayment terms, and borrower protections before choosing a lender.
About our contributors
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Written by Taylor Milam-SamuelTaylor Milam-Samuel is a personal finance writer and credentialed educator who is passionate about helping people take control of their finances and create a life they love. When she's not researching financial terms and conditions, she can be found in the classroom teaching.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.