Student Loans

Reach your educational goals by focusing on your studies, not your finances.

Student Loan Refinance

Simplify your loans into one monthly payment while potentially saving on your interest rate.

Personal Loans

A fast, convenient way to consolidate debt, finance that next major purchase, or pay for a special occasion.

Our mission focuses on helping you reach your educational and financial goals.

  • Competitive borrower benefits
  • Financial wellness resources
  • Helpful customer service team

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Popular FAQs | View All

Should I choose a variable or fixed interest rate loan?

Deciding whether to choose a variable or fixed interest rate can be tough since there are advantages to both options. Variable rate loans start off with lower interest rates than fixed rate loans with similar repayment periods; however, the interest rate fluctuates as the interest rate of the base index changes. So, your monthly payment amounts will increase or decrease depending on if interest rates rise or fall.

With a fixed rate loan, the initial interest rate is higher, but remains constant throughout the life of the loan, so your monthly payment amount stays the same.

Consider these options to help you decide:

  • A fixed rate loan may be a good option if you prefer predictable payments that will not change over the course of the loan term. However, if you are just starting out and desire lower initial payments, a variable rate loan may be an option to consider.
  • While the monthly payment amount for variable rate loans will initially be less than fixed rate loans, the longer the repayment term is, the greater the opportunity for variable interest rates and monthly payments to fluctuate.

What are the major differences between private student loans and federal student loans?

Both private student loans and federal student loans allow students and/or parents to borrow money to pay for education expenses. While there are many differences between the two, the primary differences are:

  • Federal student loans are made by the U.S. Department of Education.
    • They have fixed interest rates that may be subsidized (paid by the government) while the student is in school.
    • In most cases, they don’t require a credit check or cosigner (Direct PLUS loans require a credit check).
    • They may have loan origination fees (Subsidized and Direct Unsubsidized loans charge a 1.068% loan origination fee and Direct PLUS loans charge a 4.272% loan origination fee).
    • They offer several flexible repayment options.
    • They have borrowing limits that may not cover the entire cost of attendance.

Learn more about federal student loans.

  • Private student loans are made by private banks, credit unions, or financial institutions.
    • They have fixed or variable interest rates.
    • They require a credit check and may require a qualified cosigner.
    • There are typically no application, origination, disbursement, or pre-payment fees, though some lenders do charge origination fees.
    • There are usually several repayment options.
    • They have higher borrowing limits to help students fill the funding gap between the cost of attendance and the amount of federal aid available.

What loans can I refinance?

U-fi’s partner lenders allow you to include both federal and private student loans in your refinance loan. However, before refinancing any federal student loans make sure you understand what important benefits you might lose.