Student Loan Refinance Program
Take control of your student loans.
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Student Loan Refinance Program Features
- Take control of your student loans with a Student Choice Refinance Loan from DCU.
- You'll be able to refinance and consolidate your private and federal student loans into one manageable loan, setting up one convenient payment, and potentially saving thousands of dollars in interest rate charges.
- Featuring a competitive interest rate and zero origination fees, our refinance loan can help you simplify your life while amplifying your funds.
Please refer to Details and Rates tabs for additional information and important disclosures.
Student Loan Refinance Details
What You Need to Know Before You Borrow:
- Refinance your private or federal student loans, including PLUS loans, up to $100,000
- Keep in mind that by refinancing federal student loans, you may lose certain borrower benefits from your original loans. These may include interest rate discounts, principal rebates, or some cancellation benefits that can significantly reduce the cost of repaying your loans.
- Receive a 0.25% rate discount for automatic electronic payment1
- U.S. citizens or permanent residents who have graduated from an approved public or private not-for-profit school2
- In repayment or grace on one or more outstanding private or federal student loans
- Able to pass a credit check (A co-borrower may be necessary in order for you to meet credit criteria, and may also help you qualify for a lower rate)
1. If your loan is subject to a floor rate (also known as a minimum interest rate) as specified in your promissory note, your rate will never be less than the floor rate.
2. Approved schools subject to change.
Variable Rate Solution
The Annual Percentage Rate (APR) is variable1 and is based on the Prime index2 plus a margin3. The rate you receive depends on your credit qualifications and the repayment term you select.
The current offered variable rates are4:
|5-Year||between 2.25% and 6.75% APR|
|10-Year||between 2.75% and 7.25% APR|
|15-Year||between 3.25% and 7.75% APR|
Fixed Rate Solution
The Annual Percentage Rate (APR) is fixed5 for the life of the loan. The rate you receive depends on your credit qualifications and the repayment term you select.
The current offered fixed rates are:
|5-Year||between 3.75% and 8.25% APR|
|10-Year||between 4.25% and 8.75% APR|
|15-Year||between 4.75% and 9.25% APR|
All loans are subject to approval and restrictions may apply. Digital Federal Credit Union reserves the right to change rates for new applications at any time and without notice. Credit union membership and a minimum share deposit is required. Contact us for membership details.
Important: Please remember that federal loans do offer certain benefits and protections that do not transfer to a private loan. By refinancing your federal student loans to a private loan you will lose any federal benefits that may apply to you. Please review this important disclosure for more information.
When my loan is switched over to DCU will it appear in my account information?
International student loan refinance or personal loan?
Are these refinance loans considered personal loans or student loans and how do the affect credit status?
Parent Plus Loans
Can I decide not to take the loan if I think the interest rate is too high?
Refinance a Student Loan Today
- Student Lending Center – Learn more, apply, or try our college planning calculators.
- StreetWise Parents' Guide – Provides information on preparing your child for college and other related topics.
- StreetWise IRA Guide – Provides general information explaining how Individual Retirement Accounts and Coverdell Education Savings Accounts work and what your options are.
- DCU Financial – Provides a variety of non-traditional options for college planning and savings.
- DCU Memorial Scholarship Program – Each January, graduating high school seniors can apply for scholarships awarded by DCU.
- Financial Wellness and Recovery – Learn what DCU can do for you if you are now or think you may soon experience a financial setback. The earlier you contact us, the more we can do to help.