Student Loan Refinancing

Are student loans eating up your monthly budget?
Refinancing with Thrivent’s Education Refi Loan could lower your payment.

Is Refinancing Right for You?

True or False.

If these statements are true, you may be a good candidate for refinancing your student loans.

  • I have graduated from an eligible undergraduate or graduate school.
  • I earn a steady income.
  • I’m up to date on my current student loan repayment.
  • My credit score is higher than 660.
  • I don’t work for the government or a nonprofit that would qualify me for loan forgiveness.
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One Payment.

One Rate.

Thrivent’s Education Refi Loan consolidates both your federal and private student loan debt into one loan with the convenience of one monthly payment. You may be able to lower your interest rate, lowering your payments too.

Student Loan Refinancing - Apply for a fixed rate loan

Apply for a fixed rate loan

Your interest rate is fixed and your payment will not change.
3.99% to 9.49%1

APPLY NOW
Student Loan Refinancing - Apply for a variable rate loan

Apply for a variable rate loan

Your interest rate could be lower to start, but may fluctuate.
2.75% to 9.25%2

APPLY NOW
1The APRs in effect for fixed-rate loans as of 10/01/2016 range from 3.99% to 9.49% depending upon your and/or your cosigner’s credit histories and the repayment option you select.
2The APRs in effect for variable-rate loans as of 01/01/2017 range from 2.75% (1-month LIBOR  + 2.00%, currently at 2.75% APR) to 9.25%, depending on your and/or your cosigner’s credit histories and the repayment option you select. The one-month London Interbank Offered Rate (LIBOR) is used, as published by Bloomberg, as the index for our variable rate loan and line of credit. To get your interest rate, take the index, add a margin that depends on your and/or your cosigner’s credit, and round the result up to the nearest one-eighth of one percent. Consequently, your interest rate and Annual Percentage Rate (APR) may be higher than the rates in the chart. Your interest rate will be calculated on the first day of each calendar quarter (January 1, April 1, July 1 and October 1). Your interest rate and APR will increase or decrease if the index changes. The index for the first calendar quarter of 2017 is 0.75%.

Other Perks

No fees. No application or origination fees.1

Interest Rate Reduction. 0.25% rate reduction for auto payments of principal and interest.2

1There are no minimum, fixed, transactional or similar charges and no membership or participation fees.
2Automated payment discount(s) only apply when full payments of principal and interest are automatically drafted from a bank account. Discount(s) will continue unless (1) the automatic deduction of payments is stopped (including times during deferment or forbearance) or (2) there are two automatic deductions denied by your bank.
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brightpeak financial is a division of Thrivent Financial, a membership organization of Christians. We exist solely to help young Christians grow stronger financially so that they may live with confidence and generosity.

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At Thrivent Federal Credit Union, we guide members seeking meaningful change based on faith-based principles of money management.

bright_logo_trimmed

brightpeak financial is a division of Thrivent Financial, a membership organization of Christians. We exist solely to help young Christians grow stronger financially so that they may live with confidence and generosity.

thrivent_transparent_logo

At Thrivent Federal Credit Union, we guide members seeking meaningful change based on faith-based principles of money management.

Prior to refinancing, consider the terms and special repayment benefits of your existing loans to make sure that you are making the best decision for your situation. Federal student loans permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled. Depending on what type of federal student loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active duty service member and you obtained your federal student loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan. If you are a borrower with a secure job, emergency savings, strong credit and are unlikely to need any of the options available to distressed borrowers of federal student loans, a refinance of your federal student loans into a private student loan may be attractive to you. You should consider the costs and benefits of refinancing carefully before you refinance.
Thrivent Federal Credit Union membership is required for the borrower. If you’re not already a member, you will be asked to apply for membership when you apply for your loan. Deposit and lending services are offered by Thrivent Federal Credit Union, a member-owned, not-for-profit financial cooperative that is federally insured by the National Credit Union Administration and doing business in accordance with the Federal Fair Lending Laws. Insurance, securities, investment advisory and trust and investment management accounts and services offered by Thrivent Financial for Lutherans or its affiliates are not deposits or obligations of Thrivent Federal Credit Union, are not guaranteed by Thrivent Federal Credit Union or any bank, are not insured by the NCUA, FDIC or any other federal government agency, and involve investment risk, including possible loss of the principal amount invested.