- 1 Navy Federal Credit Union | Private Student Loan
- 2 Become a Navy Federal Credit Union Member
- 3 www.navyfederal.org/ccphone – Navy Federal Credit Union Cell Phone Protection
- 4 Navy Federal Credit Union Checking Account Review: $150 Promotion
Are Federal Loans not enough to cover the cost of your college education?
The Private Student Loan program available through Navy Federal Credit Union can be the answer to your funding needs.
- Borrow from $2,000 to $120,000 per year (or up to $160,000 per year for graduate students), subject to the Cost of Attendance certified by your school
- Choose either Interest-Only Payments or a nominal $25 Proactive Payment while in school
- Use our private student loan to pay for qualified education expenses including tuition, required fees, books, room, board, and computers
- Receive a quick credit decision once you complete your application
- No Origination Fee
- 30 Day No-Fee Return Policy - You may cancel the loan within 30 days of disbursement without fees or interest
- 0.25% Interest Rate Reduction - When you sign up for automatic payments 3
- Cosigner Release Available - For creditworthy borrowers after 24 consecutive on-time principal and interest payments during the Repayment Period 4
ELIGIBILITY & CREDIT REQUIREMENTS
- Applicant must be enrolled in an eligible school and pursuing a degree program on at least a half-time basis 5
- Applicant must be an existing member of Navy Federal Credit Union to apply. Student Loan applicants who are not members will be directed to apply for membership.
- Both applicant and cosigner must be a U.S. Citizen or Permanent Resident
- Both applicant and cosigner must meet appropriate underwriting criteria for loan approval
- Applying with a creditworthy cosigner may increase chances of approval and/or a lower interest rate. However, a cosigner is not required and applicants who meet the credit and income requirements may be approved without one.
Note: Private student loans should be used as supplemental funding after exhausting all other sources of financial aid, including grants, scholarships, and federal student loans. Federal loans offer more attractive terms when compared to most other borrowing options, including private student loans. For more information on federal loans, visit http://www.fafsa.ed.gov.
1 Variable Rate Loans: Annual Interest Rate = Base Rate + Loan Margin. The Base Rate is the average of the 3-Month LIBOR published in the Wall Street Journal on the first business day of the three months immediately preceding each quarterly adjustment. The Loan Margin is between 2.99% to 9.25%.
APR = Annual Percentage Rate. Rates are based on credit criteria and are all subject to change.
The APR is variable and may change as the Annual Interest Rate varies with the 3-month LIBOR, and, therefore, may increase during the life of the loan. The rate displayed above assumes a 0.25% reduction (subject to the floor rate of 2.99%) upon borrower enrolling in automatic payments. For more information about the automatic payment borrower benefit, see below.
Variable Rate Payment Example: Assuming a $10,000 loan amount, a 3.88% APR, and a 10-year term, you would make 54 (48 months in school + 6 month grace period) monthly payments of $25 while enrolled in school followed by 120 monthly payments of $105.44 to repay this loan. If the APR is 9.70% and the loan amount remains $10,000 you would make 54 monthly payments of $25 while you are enrolled in school followed by 120 monthly payments of $179.53 to repay this loan. The APR may increase during the life of the loan and can result in higher monthly payments.
2 Fixed Rate Loans: The Interest rate charged and the annual percentage rate are constant for the life of the loan. The rate displayed above assumes a 0.25% reduction (subject to the floor rate) upon borrower enrolling in automatic payments. For more information about the automatic payment borrower benefit, see below.
Fixed Rate Payment Example: Assuming a $10,000 loan amount, a 5.58% APR, and a 10-year term, you would make 54 monthly payments of $25, while enrolled in school followed by 120 monthly payments of $123.25 to repay this loan. If the APR is 10.99% and the loan amount remains $10,000 you would make 54 monthly payments of $25 while you are enrolled in school followed by 120 monthly payments of $201.43 to repay this loan.
3 Requires continued enrollment of automatic payments. If the automatic payment is cancelled any time after enrollment, the rate reduction will discontinue until automatic payment is reinstated. May be suspended during periods of forbearance and deferment.
4 Subject to Credit Union approval. The Repayment Period begins after the In-School and Grace Period. A request to release a cosigner requires that the borrower has made twenty-four (24) consecutive timely payments with no periods of forbearance or deferment within the twenty-four (24) month timeframe.В "Timely payment" means each payment is made no later than the 15th day after the scheduled due date of the payment. "Consecutive payment" means the regularly scheduled monthly payment must be made for twenty-four (24) months straight without any interruption.В To qualify for a cosigner release, the borrower must submit a request, meet the consecutive, timely payment requirements, provide proof of income and pass a credit check.
5 Navy Federal private student loans are subject to credit qualification, school certification of loan amount, and student's enrollment at a Navy Federal participating school. Navy Federal reserves the right to approve a lower amount than the school certified amount or withhold funding if the school does not certify private student loans.
Navy Federal Credit Union membership lets you benefit from the financial services made available by Navy Federal Credit Union, including trying to get mortgages and loans, purchasing insurance, making investments etc.
Should you turn into a part you may get all the same financial services that you do from a financial institution, but at rates that are much better and with more advantageous states. They can allow you to finance the mortgage that is correct for you personally. The truth is, if you’re able to locate a much better mortgage rate, they’ll fit it! You’re additionally considered somewhat a holder of the union when you become a member.
With almost 80 years of expertise, those that have served their nation, helping them to realize their monetary aspirations are served by it and strategy to get a well-deserved retirement.
1. You need to possess bank account and routing number or a charge card.
Navy Federal Credit Union Cell Phone Protection:
- If you have received notice that your Navy Federal Credit Card provides coverage for cell phone damage you may have been directed to the main information brochure regarding coverage
- This coverage is provided to Navy Federal Card Holders at no additional expense and to be eligible for the coverage you must set up bill payment for your phone bill through your card
- A fifty dollar deductible applies to claims filed through this program and coverage is up to $250 per incident for theft or damage up to $500 in coverage available for a given year
- Cardholders can contact their cell phone providers to have their bill payment methods changed to their Navy Federal Card to become eligible for this additional coverage
Cell phones have become a major expense for many Americans and one of the worst nightmares is unexpected damage or theft of a phone. This can result in very expensive replacement costs which can set back consumers for months as they will be forced to purchase a new phone without any forewarning. The coverage provided by Navy Federal is available to who have a Navy Federal Credit Union Visa Card which is part of the benefit plan. Phones which are purchased by the cardholder (ie: the name on the front of the card) who make their cell phone bill payments using their card are eligible to participate in this additional coverage.
More Details Regarding the Navy Federal Cell Phone Protection Plan:
- This coverage is supplemental coverage which means that the coverage is available only after any other insurance coverage on the phone has been expended
- The total coverage available cannot exceed the total cost of repair or replacement of coverage and the 50 dollar deductible will apply to all claims filed under this coverage
Navy Federal Credit Union is offering an opportunity to earn $150 bonus when you become a member and open a qualifying checking account by July 31, 2017. To earn the bonus, all you need to do is set up a direct deposit of at least $500 within 90 days of account opening and use promo code: SUMMER17 when opening your account. Then the bonus is yours within 8 weeks! It’s that easy! If you are interested in what Navy Federal Credit Union has to offer then make sure to take advantage of this offer and sign up today!
Eligibility: Membership is open to DoD and Coast Guard personnel, including Active Duty, retired, reserve, National Guard, DoD civilians and contractors, as well as immediate family members (grandparents, parents, spouses, siblings, children and grandchildren) of current members and those who are eligible for membership.
- Sign Up
- Account Type: Checking
- Maximum Bonus: $150
- Availability: Nationwide (Locator)
- Expiration Date: 7/31/2017
- Soft/Hard Pull: Unknown, let us know
- Credit Card Funding:Up to $250 (Visa, Mastercard or Discover)
- Opening Deposit: None
- Direct Deposit Requirement: Yes
- Additional Requirements: If the DDNP stops within one year they reserve the right to reclaim the bonus
- Monthly Fee: No monthly fees
- Early Termination Fee: None
- Become a new NFCU member and open a checking account with the promotional code SUMMER17 and receive a bonus of $150 when you complete the following requirements:
- Receive a Direct Deposit of Net Pay of $500+ within 90 days of account opening.
- Once requirement has been met, allow up to eight weeks for the $150 to be posted to your primary checking account.
- A minimum Direct Deposit of Net Pay (DDNP) of $500 must be posted to your new checking account within 90 days of account opening in order to be eligible for bonus. DDNP consists of an electronic deposit of wages, pension and/or social security benefits.
- Any allotments or other transfers of funds, including Mobile/Scan Deposits and/or ATM deposits, are not considered DDNP and do not qualify.
- Limit one per member.
- Recipient is solely responsible for any personal tax liability arising out of the acceptance of this incentive.
- Checking account must be opened between 6/26/2017 and 7/31/2017 in order to be eligible for bonus.
- Offer can expire anytime without prior notice.
Navy Federal Credit Union bonus is offered to those who are serving the Army, Marine Corps, Navy, Air Force, military Delayed Enlistment Program (DEP) Personnel, DoD civilians, and their families. If you qualify, hurry in today and get started on your bonus. Let us know your experience with this credit union by commenting below. If you are not interested or looking for more options, see our complete list of Bank Deals for all your banking needs!
Anthony Nguyen, founder of Bankcheckingsavings.com, has a passion for finding the best deals, bank promotions, credit card offers, cash back, points & miles, and everything in between. Contact Anthony for media/advertising.
Did this back in September for my kids, just called Navy Federal and they pretty much said screw you but my kids got their money and I didnt. Been a member for over 10 years now and don’t feel very appreciate.