Smarter Student Loans for Today’s Smarter Student Borrower
U-fi Student Loans can cover costs that aren’t met by federal funding. U-Fi has solutions for associate, undergrad, graduate and medical school students. With low rates, no origination fees, and multiple repayment options to support the diverse needs of today’s student borrower.
U-fi Student Loan Features
- Rates as low as 4.73% variable, 5.65% fixed1
- Immediate, interest-only and deferred repayment options available
- No application or prepayment fees
- Flexible repayment terms including 5, 10, 15, 20 and 25 year loans
- Cosigner release with 24 on-time payments2
Why U-fi Student Loan?
20+ Years of Experience
Backed by the nation’s largest student loan servicer, we’ve proven that we know our stuff.
Expert Borrower Support
Real people. Real support. We’ll help you find a loan that fits your needs.
No matter what level of education you’re pursuing, U-fi’s got you covered. We offer solutions for associate, undergrad, graduate and medical school students.
(1) Interest Rates: Fixed interest rates range from 5.65% APR (with auto debit discount) to 10.46% APR (without auto debit discount).Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan.
Variable interest rates range from 4.73% APR (with cosigner and auto debit discount) to 10.47% APR (without cosigner and auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. The variable interest rate is equal to the One-Month London Interbank Offered Rate (“One-Month LIBOR”) plus a margin. The One-Month LIBOR in effect for each monthly period (from the first day of the month through and including the last day of the same month) will be the highest One-Month LIBOR published in The Wall Street Journal “Money Rates” table on the twenty-fifth (25th) day (or if such day is not a business day, the next business day thereafter) of the month immediately preceding such calendar month. The Annual Percentage Rate (APR) for a variable interest rate loan will change monthly on the first day of each month if the One-Month LIBOR index changes. This may result in higher monthly payments. The current One-Month LIBOR index is 2.5% as of May 1, 2019.
The lowest interest rate for each loan type requires an eligible cosigner, automatically withdrawn (“auto debit”) payments, a five-year repayment term for both graduate and undergraduate loans, and the borrower making immediate principal and interest payments. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, and (3) the loan type selected. If approved, applicants will be notified of the rate qualified for within the stated range.
(2) Cosigner Release: Request for the cosigner to be released can be made by the borrower after 24 consecutive, on-time payments (not later than 15 days after the due date) of principal and interest have been made. The borrower must be current on their payments at the time of the cosigner release request and show the ability to assume full responsibility of the loan(s) by meeting certain credit criteria on their own at the time of the request, including, but not limited to, being a U.S. citizen or having permanent residency in the United States, being the age of majority in their permanent state of residency, providing sufficient proof of income, and having no student loans in default.
(3) Loan Eligibility: You must be a U.S. citizen or permanent resident alien with a valid U.S. Social Security number, and be the legal age of majority in your permanent state/territory of residency, which is 18 years of age in every state/U.S. territory except Alabama (19 years old), Mississippi (21 years old), and Puerto Rico (21 years old). Students who have not reached the age of majority must be at least 17 years of age at the time of application and have an eligible cosigner. Non-residents can apply with an eligible cosigner who is a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. Students and cosigners living, or attending school, in the state of Vermont are not eligible for a student loan from U fi at this time. Student must be enrolled at least half-time in a Title IV program at an eligible school. You must not have defaulted on any student loan. You, or your eligible cosigner, must have an annual income of at least $12,000. Approval subject to credit review. Other credit criteria may apply.
Undergraduate Loan Limits:
Minimum loan amount: $1,000
Maximum student loan limits: $125,000
Graduate Loan Limits:
Minimum loan amount: $1,000
Maximum student Loan limits:
Graduate or doctorate degree: $150,000
MBA or graduate law degree: $175,000
Graduate health professions degree: $225,000
U-fi® is a registered trademark of Nelnet, Inc., for products and services provided by Nelnet Consumer Finance, Inc.