Student reading her textbook


Get a Better Rate and $150 Bonus*
  • Variable rates as low as % APR and % APR fixed rate.†
  • Lower your monthly payment and save by refinancing with PenFed Today.


Benefits of Refinancing


save money



Expenses come at you hard, be proactive by refinancing a high interest rate student loan.




Refinance your federal, private, or parent student loans into one, simple PenFed loan.

Quick and easy



Complete the online application. No fees or prepayment penalties.

cosigners and parents



Cosigners can improve your rate. Parents can refinance their loans too!

Disclosures Print Icon Print

Rates and offers current as of . Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from % APR to % APR and Variable Rates range from % APR to % APR. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed % for 5 year and 8 year loans and % for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be %.

*To receive any advertised product, you must become a member of PenFed Credit Union which includes opening a $5 PenFed savings account. The student loan refinance rebate of $150 is eligible on loan amounts of $20,000 and greater (Maximum amount is $300k) and must be refinanced from another institution or PenFed Internal Refinance. Loans originated from 3rd party partners are not eligible for this promotion. Applies to refinance loans funded between 4/1/2021 and 5/15/2021. The $150 rebate will be deposited to the membership share savings account within 90 days of the loan disbursal date. At time of rebate posting, the loan must currently be active and have at least 1 payment posted in order to qualify. Only one $150 credit per member or new-member. PenFed will not accept multiple $150 credits to members who have more than one student loan refinance disbursed. PenFed may discontinue or change the promotion at any time.

Chalmer Barker

Boise, ID

You're doing a good job. The vast majority of web sites are more difficult to navigate and use - some are impossible. Your web site, and the process, are very user friendly.

Dennis Willis

Wahiawa, HI

Customer services was excellent...and I deserve the best service.

George Ross


I have been with Penfed for over 30 years and they continue to provide outstanding a timely service. Very customer facing!

Jennifer Olschefski


The membership process was done quickly, and was very easy to complete. Thank you for a wonderful experience, and I would highly recommend to family and friends.

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