USAA Doesn’t Offer Student Loans or Student Loan Refinance Anymore: Here Are the Best Alternatives

USAA used to offer both private student loans and student loan refinancing options to military families. These products came with perks like competitive interest rates, strong customer support, and exclusive member benefits. But USAA discontinued its student lending services, leaving borrowers to look elsewhere.

Whether you’re a USAA member in need of a student loan or looking to refinance a loan, we’ve compiled the best alternatives available in 2025.

Table of Contents

1. Student loan alternatives
   1. Navy Federal Credit Union
   2. College Ave
   3. Sallie Mae
   4. Earnest
2. Refinance alternatives
   1. Credible
   2. SoFi
   3. ELFI
   4. Earnest
3. Why doesn’t USAA offer student loans or refinance?
4. How to manage USAA student loans
5. How to refinance USAA student loans
6. Military repayment options

Best alternatives to USAA student loans

Navy Federal Credit Union

Best for Military Families

3.5 _/5

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For military members, a student loan from Navy Federal Credit Union is the most similar option to a USAA loan. Like USAA, Navy Federal is a members-only credit union that caters to the military community in all 50 states.

• Offers Career Assistance Programs
• Available for undergrad and grad students
• Known for its great member service
• Cover up to 100% of school costs

• Can’t pause payments during school
• Limited repayment terms (max is 10 years)
• Higher interest rates
• No soft credit inquiry option when checking eligibility
• Only available to members of the credit union

Rates & funding

Variable rates (APR)	7.79%+
Fixed rates (APR)	5.50%+
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

College Ave

Best Overall

5.0 _/5

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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

Variable rates (APR)	5.59% – 16.85
Fixed rates (APR)	4.39% – 16.49%
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

Best for Fast Cosigner Release

4.8 _/5

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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

Variable rates (APR)	6.37% – 16.70%
Fixed rates (APR)	4.50% – 15.49%
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

Best for Repayment Perks

4.7 _/5

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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

Variable rates (APR)	5.62% – 16.20%
Fixed rates (APR)	4.11% – 15.90%
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

Best alternatives to USAA student loan refinance

If you’re looking to refinance a USAA student loan, here are our top lender picks in 2025:

Credible

Best for Comparison Shopping

5.0 _/5

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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

Best Online Lender

4.9 _/5

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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/ autopay
Variable rates (APR)	6.24% – 9.99% w/ autopay
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 650 (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

Best Personalized Support

4.7 _/5

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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

Best Skip-a-Payment Benefit

4.6 _/5

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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.

Why doesn’t USAA offer student loans or refinance?

USAA discontinued its partnership with Wells Fargo in 2016, ending its student loan offerings. This decision affected both private student loans and student loan refinance options. Although it no longer provides these services, current borrowers with USAA-Wells Fargo loans continue to repay through Wells Fargo.

How to manage your USAA student loans

If you still have a USAA student loan (originated through Wells Fargo), you should continue to repay as agreed. Contact Wells Fargo Education Financial Services at 800-658-3567 for help with:

• Changing your repayment plan
• Cosigner release requests
• Payment difficulties

How to refinance USAA student loans

You can refinance your loan with any of the lenders listed above. Just note that you may lose any rate discount USAA provided. Compare your current rate with offers from other lenders before deciding to refinance.

Reasons to refinance:

• Lower your interest rate
• Extend your repayment term
• Combine multiple loans
• Release or add a cosigner

Repayment options for military members

Military members may qualify for several repayment programs:

Program	Benefit
Servicemembers Civil Relief Act (SCRA)	Caps interest at 6% during active duty
HEROES Act	Waives some federal loan requirements for active duty
Public Service Loan Forgiveness (PSLF) program	Forgives loans after 120 qualifying payments
DOD Loan Repayment Program	Offers loan repayment for eligible military members
VA TPD Discharge	Forgives loans for veterans with permanent disability

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Recap of USAA student loan alternatives

Recap of USAA student loan refinance alternatives