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Student Loan Refinance:
Solutions for After College

Get $200 Cash Back

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It Pays to Refinance Student Loans

Paying off your student loans just got easier and more affordable. Now through May 31, receive $200 cash back when you refinance with us.
Request Information » This is a Qualifying Service
Current Rates

Rates as Low as

2 . 4 9 %
Variable Rate Refinance
Variable Rate
Student Loan Refinance
2.49% APR*
Fixed Rate
Student Loan Refinance
4.04% APR*
More rates & disclosures
Currently in School?
Borrow what you need for tuition and other expenses. See Our In-School Loans »

Once you're done with school, save time and money by consolidating your existing student loans into one easy, convenient payment, or refinancing to a lower rate. You can consolidate up to $60,000 in outstanding private or federal student loans.

Choose a variable or fixed rate at a 5-, 10- or 15-year term. Your interest rate will be determined by your credit score or your cosigner's, whichever is greater.

Apply

Refinance to Save After College

Borrower Savings

  • No Fees
  • No Prepayment Penalty
  • 0.25% Interest Rate Reduction with Automatic Payments1

Borrower Benefits

  • One payment to make each month
  • Option to make interest-only payments during the first 2 years of repayment2
  • Choose a 5-, 10- or 15- year term
  • Cosigner release option after the first 36 consecutive, on-time payments
  • Easy online application
  • Debt Protection up to $50,000 if the borrower passes away

Loan Limits

  • Borrow a maximum of $60,000
  • The minimum loan amount is $5,000
  • Final loan amount will be based on the payoff amounts for your existing loans

Eligibility

  • Be a legal adult as defined by the state in which you reside (age 18 in Wisconsin)
  • Have at least one student loan, either federal or private
  • Be a U.S. citizen/national or permanent resident with a Social Security number
  • $25,000 in income and reasonable debt-to-income ratio
  • A satisfactory credit score
  • At least 4 years of credit history, not including student loans
  • Must be a UW Credit Union member3

Cosigner Information

If you do not have at least four years of credit history, you can use a cosigner that meets the credit history, income and credit score requirements. You will still need to meet all other eligibility requirements.

$200 cash back rebate offer valid with refinancing student loans held at other financial institutions to UW Credit Union. Cash back rebate is $200. In order to qualify for the $200 cash back rebate, the application must be submitted between March 1, 2017, and May 31, 2017. Applications submitted before or after those dates are ineligible for the promotion. Minimum loan amount to qualify is $15,000. Existing UW Credit Union loans are not eligible for this refinance promotion. Rebate will be deposited into member's UW Credit Union Premium, Value or Access checking account 90 days after the loan is funded. Member must have a qualifying UW Credit Union checking account open within 90 days of the loan being funded and the checking account must be in good standing at the time of the loan funding. Student loan refinance must be in good standing in order to be eligible for cash back deposit to be made. Consumer is responsible for reporting cash back rebate for tax purposes. Certain creditworthiness criteria are required for loan approval.

* Variable Rate: Interest rate of 2.49%. 60 monthly payments of $17.74 per $1,000 borrowed. Borrowing $10,000 at 2.49% APR accrues $645.79 in interest during the 5 year repayment term. Rate is variable and can change quarterly. For further information on rates and costs for the Variable Rate Student Loan Refinance, see the Application Truth in Lending Disclosure. Fixed Rate: Interest rate of 4.04%. 60 monthly payments of $18.43 per $1,000 borrowed. Borrowing $10,000 at 4.04% APR accrues $1,060.76 in interest during the 5 year repayment term. For further information on rates and costs for the Fixed Rate Student Loan Refinance, see the Application Truth in Lending Disclosure. For both loans, you will be required to review the Application Truth in Lending Disclosure prior to submitting an application. The minimum loan amount is $5,000. Your interest rate will be determined by your credit score or your cosigner's, whichever is greater.

1 To be eligible for the interest rate reduction for automatic payments, you must be signed up for automatic payments through Great Lakes Educational Loan Services. If at any time automatic payments are stopped or the loan is not in good standing, the rate discount will not be applied. UW Credit Union reserves the right to modify or discontinue benefits at its discretion and without notice.

2 Option to make interest-only payments during the first 2 years of repayment is available for a 15-year term only.

3 Membership is required when taking a loan out with us. If you are not currently a member of UW Credit Union, we will contact you to establish membership. Establishing membership is easy and includes opening a membership savings account. If you do not complete the membership application, we will create your membership savings account for you.

 

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UW Credit Union
pref 3500 University Avenue
Madison, WI 53744-4963 43.075532 -89.448226
UW Credit Union, postal PO Box 44963, Madison, WI 53744-4963
43.075532 -89.448226