IMPORTANT: The Biden administration recently announced that federal student loan payments will resume after 12/31/2022, along with measures related to debt cancellation and income-based repayment. Learn more by contacting your federal student loan servicer, visiting, or reading our blog post. NOTE: These measures are strictly tied to federal student loans and have no impact on private student loans.





Student Loan Refinance

Take control of your student loan repayment! Refinance and consolidate your private and federal student loans (including PLUS loans) into one manageable loan, setting up one convenient payment and potentially lowering your rate.*

Should I refinance my student loans?

By lowering your interest rate or leveraging a better repayment term, refinancing your student loans (such as private, federal, and/or PLUS loans) could help you save money in the long run or pay them off sooner. Make sure to remember that if you refinance some or all of your federal student loans into a private student loan with the credit union, you will lose access to any current or future federal student loan benefits, such as potential debt cancellation or income-driven repayment options. With the recent announcement from the Biden administration, it’s more important than ever to evaluate your options if you have federal student loans so that you can make educated decisions. For more information, check out these helpful resources:

Current Rates

Variable Rate Solution

Variable Rate icon

As rates rise and fall according to the market index, your monthly payment may change over time. Learn More

5-year Repayment Term: 6.75% - 7.25% APR

10-year Repayment Term: 7.00% - 7.50% APR

15-year Repayment Term: 7.25% - 7.75% APR

Borrow up to $200,000.


Fixed Rate Solution

Fixed Rate icon

Get a fixed monthly payment with a rate that doesn't change over time. Learn More

5-year Repayment Term: 5.25% - 5.75% APR

10-year Repayment Term: 5.50% - 6.00% APR

15-year Repayment Term: 5.75% - 6.25% APR

Borrow up to $200,000.


Rates shown include a 0.25% discount for optional enrollment in automatic electronic payments.

Eligibility Requirements

To be eligible to refinance your student loans, you must have graduated from an approved school and be a member of Members 1st Federal Credit Union. You may apply without being a member of the credit union, but you will need to become a member in order for the loan to be funded. Be sure to review all eligibility requirements.

Typical Application and Funding Timeline

Day 1

Initial Credit Application Started

Days 2-16

Document Submission And Verification

Days 17-31

Loan Processing and Finalization

Days 32-42

Loan Disbursement To Your Original Lenders


Personalized Support

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* Subject to credit qualification and additional criteria, including graduating from an approved school.
† APR = Annual Percentage Rate
‡ Approved schools subject to change without notice.