Deferment FAQs

Refinance your private loans today. Add in your Federal loans later at the same low rate.

As part of COVID-19 relief measures, the interest rate on most federal student loans is temporarily set at 0% with required payments suspended (through 6.30.23).

Your non-federal student loans may continue to be charged interest at high interest rates as they fall outside of the relief measures. Refinance those loans today with an approval to add in your federal loans within 12 months of closing your loan. Same approval, same loan, and same great rate, accomplished in two fundings. We are simply deferring the refinance of your federal loans until relief measures end.

*A Note to Borrowers with Federal Student Loan

Refinancing a federal student loan with a private lender means you will no longer have access to benefits of your federal loans, including the temporary suspension of payments, or any other relief efforts related to the COVID-19 crisis. 

Product Details

This allows you to take advantage of the relief measures on Federal loans for as long as they last (or up to 12 months from closing).

This is a free option to you with no commitment required. You may be wondering what happens if the moratorium (including 0% interest) on Federal loans is extended beyond 12 months after your loan closing. Or, what if some portion of your Federal student loans are cancelled/forgiven as part of legislation or executive action? Great! We are genuinely happy for you. Although we commit to offer you the same low rate to add in your remaining federal loans within 12 months, you are under no such commitment/requirement to us. It is simply a free option we are providing to you while rates are near historical lows. If/when the time is right to refinance some/all of your Federal loans (within twelve months of closing), we will be ready.

Your monthly payment amount will be based on your initial loan funding at your personalized rate/term. Once your federal loans are added, we will update your monthly payment on your selected term. See both your initial payment and fully funded loan payment in minutes with our free rate check (and no hard credit pull).

You have $400,000 in student loans. $300,000 are Federal loans currently at a 0% interest rate while $100,000 is at a 7.50% interest rate.

Get approved to refinance your full $400,000 but only pay off the $100,000 at the 7.50% interest now.

Once there is additional clarity on when 0% interest on Federal loans ends (and return to their normal interest rates), we will pay those off and add them to your loan. Same low interest rate and on a fresh amortization.

July 2022 – Get approved to refinance $400,000 (15 year term at 4.00%); Fund $100,000 to pay off your private student loans. The payment on the $100,000 is $739.35/month.

July 2023 – The 0% interest on Federal student loans ends and you sign a Change in Terms Agreement to fund the additional $300,000. Over $5,000 in principal has been paid on your first $100,000, leaving $94,980 for a new loan amount of $394,980. Same rate of 4.00% and this new loan amount is re-amortized over a fresh 15 year amortization for a new monthly payment of $2,920/month.

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