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PenFed powered by Purefy Student Loan Refinancing

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PenFed Student Loans

PenFed offers competitive rates for student loans, and unique loan programs such as spouse loans, allowing individuals and couples to consolidate and refinance their federal and private student loans into a single loan.

Powered by Purefy

Purefy Inc. is a financial technology and services firm specializing in student loan programs. Since 2016, Purefy has been the exclusive provider of student loan application services on behalf of PenFed.

Features & Benefits

Here are some of the many distinct features of the PenFed student refinance loan program:

  • Transparency: See your rate, term options and new monthly payment before applying or a credit check.
  • Get out of debt faster and choose from our 5, 8, 12, or 15 year repayment terms.
  • No fees or prepayment penalties.
  • Spouses can refinance their loans together. Parents can refinance their loans too.

Minimum Eligibility Requirements

  • Minimum loan amount of $7,500
  • Must be a U.S. Citizen
  • Must have graduated with a bachelor's degree

Please visit our Eligibility & Disclaimer page for more information. 


1Rates and offers current as of April 1, 2021. Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 2.99% APR to 5.15% APR and Variable Rates range from 2.15% APR to 4.45% APR. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed 9.00% for 5 year and 8 year loans and 10.00% for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be 2.00%.

What are my private student loan options?