Enjoy your success without the burden!

Lower your monthly payments and save

  • Fixed rates starting at % APR†
  • Start your quick and easy application process today

Perks of Refinancing with PenFed

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!

Refinancing in 5 Easy Steps

Apply online in less than 15 minutes

Submit docs and open membership

See loan rate and term

Review loan and e-sign


Need in-school financing?

Get the money you need to make higher education happen.




Is my student loan with PenFed eligible for the federal forgiveness program?

Please note that PenFed student loans are private loans and therefore not eligible for the federal forgiveness program.  The federal forgiveness program will be administered by the Department of Education and will only apply to federal student loans. While your original student loan may have been a federal student loan, when you refinanced with PenFed, your current loan became a private student loan. PenFed provides detailed disclosures on our loan application that reinforce your loan may not be eligible for federal programs once it is refinanced with us.

If there are any further questions or concerns, please reach out to

Can I check my rate without affecting my credit?

Can I have someone cosign my loan?

What types of loans can I refinance?

What if I have multiple student loans?

When should I refinance my student loan?

Why choose PenFed?


†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. Fixed 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.

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