Navy Federal Student Loan Refinance and Private Loans: Solid Parent Refi But Not the Most Affordable

Solid Parent Refi Options

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Student Loan Refinance

• No application or origination fees
• Autopay discount
• Job search resources
• Parents can consolidate loans for multiple students

• High interest rates
• Only available to members
• Inflexible repayment terms

Rates (APR)	Starting at 4.85%
Repayment terms	5, 10, or 15 years

Private Student LoansView Rates

• Easy approval with cosigner
• Autopay discount
• Job search resources

• High interest rates
• Only available to members
• Inflexible repayment terms
• Limited repayment assistance

Rates (APR)	Starting at 5.50%
Loan amounts	Up to the school-certified cost of attendance
Repayment terms	5 or 10 years

Navy Federal Credit Union offers student loan refinancing and private student loans, but they’re not our top picks. The rates tend to be higher than what you’ll find with other lenders, and the loans are only available to members—which can be a hurdle if you’re not already part of the credit union.

That said, there are a few bright spots. If you’re already a Navy Federal member, refinancing through them could be convenient—especially for parents. Their parent refi loan is unique and lets you consolidate loans for multiple kids. For most others, though, there are more flexible and affordable options out there.

Table of Contents

1. Navy Federal refinance student loans
   1. Rates and terms
   2. Eligibility
   3. How does Navy Federal refinancing compare to other options?
   4. Who is Navy Federal student loan refinance best for?
2. Does Navy Federal offer student loans?
   1. Rates and terms
   2. Eligibility
   3. Navy Federal private student loans vs. other lenders
   4. Who are Navy Federal private loans best for?
3. What do customers say about Navy Federal student loans?
4. Does LendKey offer Navy Federal student loans and refinancing?
5. How to apply with Navy Federal
6. FAQ

Navy Federal refinance student loans

Navy Federal Credit Union offers student loan refinancing for both graduates and parents. While not the most competitive option on the market—rates start higher and repayment terms are limited—it can be a decent choice for current Navy Federal members who value in-house convenience.

A standout feature is the parent refinance loan, which lets parents consolidate loans for multiple children—even if those students are still in school. All borrowers also get access to free career resources, including resume tools, job search training, and a job-tracking dashboard.

Repayment terms include 5, 10, and 15 years, and there’s a 0.25% interest rate reduction for enrolling in autopay. If you apply with a cosigner, you can request cosigner release after 12 on-time monthly payments.

Rates and terms

Feature	Details
Fixed rates (APR)	Start at 4.85% with autopay
Variable rates (APR)	Start at 6.48% with autopay
Rate discounts	0.25% for autopay
Repayment terms	5-, 10-, or 15-year
Cosigner release	After 12 on-time full payments
Fees	None

Eligibility

To qualify for a Navy Federal student loan refinance, you must:

• Be a U.S. citizen or legal resident
• Live in any of the 50 states
• Be a legal adult in your state (typically 18 or older)
• Be a graduate of an eligible school (not required for parents)
• Have a monthly income of at least $2,000, or at least $100 if applying with a creditworthy cosigner who earns $2,000+
• Be a member of Navy Federal Credit Union

How does Navy Federal refinancing compare to other options?

Navy Federal’s refinance loan can work for the right borrower, but for most people, other lenders offer lower rates, more flexible terms, and better benefits. Here’s how it compares:

Navy Federal vs. Credible

Credible isn’t a lender itself—it’s a marketplace that shows you prequalified refinance offers from multiple lenders. It’s a fast way to compare rates and terms and usually yields better options than Navy Federal, especially if you’re not already a member.

Navy Federal vs. SoFi

SoFi offers career coaching like Navy Federal—but adds financial planning, unemployment protection, and more competitive rates. It also offers greater term flexibility and doesn’t require membership.

Navy Federal vs. Earnest

Earnest lets you choose any repayment term between 5 and 20 years, giving you more control over your monthly payments. It also includes a skip-a-payment option once a year. Rates are usually lower than Navy Federal’s, and there’s no membership requirement.

Who is Navy Federal student loan refinance best for?

While Navy Federal doesn’t top our list, it might be a good fit if:

• You’re already a Navy Federal member and want to keep everything in one place
• You’re a parent refinancing loans for multiple children—even if they’re still in school
• You want access to career tools like resume builders and job search support
• You prefer a simple, straightforward refinance option with fixed term choices

For everyone else, it’s worth shopping around—especially through platforms like Credible or with lenders like Earnest or SoFi that offer more borrower-friendly features.

Does Navy Federal offer student loans?

Navy Federal Credit Union offers private student loans for current undergrads and grads, but these loans fall short in several key areas. They have higher starting interest rates than most competitors, offer only two repayment terms (5 or 10 years), and lack comprehensive repayment assistance. They’re also only available to credit union members—which can be a hurdle if you’re not connected to the military.

On the plus side, Navy Federal does offer a small autopay discount, basic in-school payment options, and career development tools like resume builders and job search training. Most borrowers will need a cosigner, as the income requirement is steep for full-time students.

Rates and terms

Feature	Details
Fixed rates (APR)	Starting at 5.50%
Variable rates (APR)	Starting at 7.79%
Rate discounts	0.25% for automatic payments
Loan amounts	Up to 100% of costs
In-school repayment plans	Full, interest-only, or flat
Repayment terms	5 or 10 years
Grace period	6 months
Repayment assistance	None—possible deferment or forbearance on a case-by-case basis, but it’s limited
Cosigner release	After 24 on-time payments
Fees	Late payment
Unique features	Career assistance program offering online job search training, job-finding strategies, job-tracking dashboard, and resume builder

Eligibility

To qualify for a Navy Federal private student loan, you must:

• Be a member of Navy Federal Credit Union, which generally requires military affiliation
• Be a U.S. citizen or legal resident
• Be a legal adult in your state (typically age 18+)
• Be a full-time student at an eligible college or university
• Have a minimum annual income of $15,000, or apply with a cosigner who meets income and credit requirements

Navy Federal private student loans vs. other lenders

Several other private student loan lenders offer lower rates, more flexible repayment options, and better borrower benefits. Here’s how Navy Federal compares:

Navy Federal vs. College Ave

College Ave consistently ranks as one of the best private student lenders. It offers more repayment flexibility—including up to 15-year terms—and unique perks like a 1% cash-back graduation reward. It’s also easier to qualify without a military affiliation.

Navy Federal vs. Earnest

Earnest offers flexible repayment plans and lower starting rates. Like with its refinance loans, you can customize your term length. It also includes a skip-a-payment option once a year, something Navy Federal doesn’t offer.

Navy Federal vs. SoFi

SoFi offers benefits like deferment, forbearance, and career coaching—along with lower rates for well-qualified borrowers. SoFi also lets you check your rate without impacting your credit, unlike Navy Federal.

Navy Federal vs. Credible

Credible isn’t a lender but lets you compare prequalified offers from multiple lenders at once. It’s a fast, no-obligation way to find better rates and more generous loan terms than what Navy Federal typically offers.

Who are Navy Federal private loans best for?

Navy Federal’s private student loans may work for a small group of borrowers:

• Students with a strong cosigner who already belongs to Navy Federal
• Borrowers who want access to free career tools and don’t need repayment assistance
• Military families who prefer to keep loans in-house with their existing credit union

If that doesn’t sound like you, it’s worth comparing offers from lenders like College Ave, Earnest, or SoFi—especially if you want better rates and more repayment options.

What do customers say about Navy Federal student loans?

Customer feedback on Navy Federal student loans is mixed. The credit union earns a strong rating on Trustpilot, while reviews on Google are more neutral—and its Better Business Bureau (BBB) score is notably low.

Much of the praise centers on Navy Federal’s general customer service and banking experience, rather than student loans specifically. Complaints often cite limited loan flexibility or difficulty navigating the eligibility and membership requirements. Compared to other lenders, Navy Federal’s student loan reviews suggest a more average borrower experience.

Source	Customer rating	Number of reviews
Trustpilot	4.5/5	40,648
Better Business Bureau (BBB)	1.18/5	313
Google	3.7/5	79

Does LendKey offer Navy Federal student loans and refinancing?

Yes—Navy Federal Credit Union partners with LendKey to offer its private student loans and student loan refinancing. LendKey provides the online platform that powers Navy Federal’s application and loan servicing process, while Navy Federal supplies the funding.

That means when you apply for a student loan or refinance through Navy Federal, you’re technically applying through LendKey’s infrastructure—but the loan itself is branded and backed by Navy Federal. You’ll still need to meet Navy Federal’s membership and eligibility requirements to qualify.

How to apply with Navy Federal

Here’s how to apply for a student loan with Navy Federal Credit Union:

1. Add a cosigner, if needed

If you earn less than $15,000 a year or have a limited credit history (typically less than 36 months), adding a creditworthy cosigner may boost your approval chances.

2. Prepare your application

Double-check that you meet the eligibility requirements for a Navy Federal Credit Union student or refinance loan, including being a credit union member, current student or graduate of an eligible school (unless you’re a parent), and the citizenship and residency requirements.

Once that’s confirmed, gather the personal and academic information required to complete your application. This includes:

• Contact information
• School
• Expected graduation date
• Academic start and end periods
• Class standing
• GPA
• Major
• Enrollment status

3. Provide final documentation

You or your cosigner may need to submit additional documents to verify your identity, show proof of income, and validate tuition and the amount of financial assistance requested.

4. Complete final steps following approval

Once approved, you must sign your loan agreement. Navy Federal Credit Union will then send a loan request to your school for certification.

A preliminary decision can take five minutes or less online. However, you’ll need to wait for your school to complete the certification process, which can take four to six weeks. 

Once certified, Navy Federal disburses funds to your school.

FAQ

Does Navy Federal offer private or federal student loans?

Navy Federal offers private student loans and refinancing. It does not provide federal student loans, which are administered through the U.S. Department of Education. Private student loans from Navy Federal can help cover the gap between your financial aid package and the cost of tuition.

What credit score do you need for Navy Federal student loans?

To qualify for a Navy Federal student loan, borrowers typically need a good to excellent credit score, often starting around 670 or higher. However, fair- or bad-credit borrowers with a cosigner may be eligible.

How long does it take to get a Navy Federal student loan?

The approval and funding process for Navy Federal student loans can vary, but it typically takes about two to three weeks from the time you submit your application to get the funds. This time frame includes the application review, credit check, and disbursement process.

What types of student loans does Navy Federal offer?

Navy Federal offers undergraduate and graduate private student loans to help cover tuition, books, and other educational expenses. It also provides student loan refinancing options for those looking to consolidate and lower the interest rate on their current loans.

Does applying with Navy Federal hurt my credit?

When you apply for a Navy Federal student loan, the lender conducts a hard credit inquiry, which may cause a small, temporary drop in your credit score. However, this impact is often minor, and your score will recover with responsible credit behavior.

Does Navy Federal require a cosigner?

A cosigner may be required for Navy Federal student loans if the borrower doesn’t meet the credit or income requirements on their own. A cosigner can also help applicants secure better interest rates or improve their chances of approval.

Does Navy Federal offer repayment assistance for its student loans?

No, Navy Federal does not offer dedicated repayment assistance programs for its private student loans, such as income-driven repayment plans or forgiveness options that are available for federal loans. 

However, if you are struggling to make payments, contact Navy Federal. It may provide temporary relief options in certain situations, though this is on a case-by-case basis. You could also consider refinancing your loans for better rates or terms to make payments more manageable.

Can Navy Federal student loans be forgiven?

Navy Federal student loans are private, which means they are not eligible for federal forgiveness programs, such as Public Service Loan Forgiveness (PSLF) or income-driven repayment forgiveness. However, you may explore other options, including refinancing or seeking employer-based repayment assistance programs.

How we rated Navy Federal Credit Union

We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Navy Federal to several student loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating, recapped below.

Product	Rating
Navy Federal Credit Union student loan refinance	Not rated
Navy Federal Credit Union student loans	3.5 / 5