Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
Repayment Terms Important InformationRewards: Autopay Discount
Eligibility: Requires borrowers to become members of the Navy Federal Credit Union
Yearly Loan Limits: Covers up to 100% of your Cost of Attendance
Overall Loan Limits: $2,000 (minimum), $120,000 (aggregate maximum)
Cosigner Terms: Cosigner optional, allows for Cosigner Release after 24 on-time monthly payments
The bottom line:Navy Federal Credit Union provides some of the best customer service for their student loan borrowers, and even allows you to borrow up to the full cost of attendance at your college. But to borrow with them, you have to become a part of their credit union.
When it comes to customer service, we rate Navy Federal Credit Union as one of the best. They offer 24/7 call center hours, and their team is U.S.-based. And when considering their borrowing limits, we see more evidence of great service. You can borrow up to the full cost of attendance every year, and, in aggregate, up to $120,000 for an undergraduate degree.
That being said, beware of the costs of borrowing so much. Navy Federal’s student loan rates are higher than average, and they don’t offer any rewards beyond an autopay discount, so you’ll be better off looking for another lender to reduce the amount you’re paying in the long-run. And, if you’re curious and want to check what rate they’ll give you, get ready for a hard inquiry on your credit.
Beyond that, keep in mind that to borrow with Navy Federal you have to become a part of Navy Federal. Navy Federal Credit Union membership is open only to servicemembers or veterans of the US armed forces, DOD, and their families.
Savingforcollege.com provides our readers with free access to objective information, articles and tools to help them make informed decisions about saving and paying for education. We are able to do this because we are compensated by our partners, including some private student lenders. Some, though not all, of the products featured here are offered by partners who may pay us a sales commission. Our partnerships do not influence our ratings or reviews, which are based on in-depth research and objective methodologies, though they may influence which products we write about and where those products appear on our site. Our opinions are our own.
