Apply with Thrivent Federal Credit Union

Student Loans with a Higher Purpose

More than 45,000 Christians across the nation have the tools to save more, spend less and give abundantly thanks to Thrivent Federal Credit Union (TFCU). With competitive rates, personalized service and financial guidance based on biblical principles, you can feel the power of contentment. When you finance your education through us with Thrivent Federal Credit Union, you can leverage the flexibility and financial wisdom you need to foster a good relationship with money.

Questions to Ask Before Deciding to Borrow

Borrowing money to pay for school is the last thing you should do after looking at other options. Consider these questions and make sure it’s the right move for you:

  • Have you left any free money on the table?

    Use our free money finder to look for scholarships that are a match for your area of study and interests (coming soon).

  • Have you compared all possible schools that offer your major?

    Use our Find a College tool to look at all the colleges that have similar programs (coming soon).

Terms & Disclosures

APR stands for Annual Percentage Rate.

1 For our fixed-rate loans, the APR's in effect as of 7/1/2017 range from 5.20% to 9.99% depending upon your and/or your co-signer's credit histories and the repayment option you select. This informational repayment example uses typical loan terms available to a graduate who elects to make no payment while in school for 4 years and a 6 month grace period; has a $10,000.00 loan with two disbursements and a 5.23% APR: 126 payments of $129.76 for a total paid of $16,349.73.

2 For our variable-rate loans, the APR's in effect as of 7/1/2017 range from 3.16% to 10.25%, depending on your and/or your co-signer's credit histories and the repayment option you select. This informational repayment example uses typical loan terms available to a graduate who elects to make no payment while in school for 4 years and a 6 month grace period; has a $10,000.00 loan with two disbursements and a 5.46% variable APR: 126 payments of $132.58 for a total paid of $16,705.20. Variable rates may increase after consummation.

For our variable-rate lines of credit, the APR's in effect as of 7/1/2017 range from 3.25% to 10.25% depending on your and/or your co-signer's credit histories and the repayment option you select.  This  informational repayment example uses typical loan terms available to a graduate who elects to make no payments while in school for 4 years with a 6 month grace period; has a $10,000 loan with two disbursements and a 5.75% variable APR: 180 payments of $83.42 for a total paid of $15,020.38.  Variable rates may increase after consummation.

Questions to Ask Before Deciding to Refinance

Refinancing can be a powerful tool to decrease interest payments and make paying back your loan more manageable, but it’s not perfect for everyone. Study up and see if you’d benefit.

Here’s a quick checklist to make sure your loan passes Refi 101:

  • Have you graduated college and been holding down a job for two years?

  • Do you know what kind of loans you have?

  • Can you access your latest statements and current payment?

  • Is your loan in your parent’s name through the Federal PLUS?

  • Can you make your monthly payments, but would just like to bring your rate down?

Terms & Disclosures

1 For our fixed-rate loans, the APRs in effect as of 07/01/2017, range from 3.99% to 9.49%, depending upon your and/or your cosigner’s credit histories and the repayment option you select. Graduated Repayment Plan Payment Example – This informational repayment example uses typical loan terms available to a borrower who elects the graduated repayment plan and makes lower payments for the first 2 years in repayment, has a $30,000 loan and a 3.99% fixed APR: 24 payments of $143.05; 156 payments of $237.90 for a total paid of $40,546.41. Immediate Repayment Plan Payment Example – This informational repayment example uses typical loan terms available to a borrower who elects the immediate principal and interest payment plan; has a $30,000.00 loan and a 3.99% fixed APR: 180 payments of $221.75 for a total paid of $39,915.86.

2 For our variable-rate loans, the APRs in effect as of 07/01/2017, range from 3.25% to 9.75%, depending on your and/or your cosigner’s credit histories and the repayment option you select. Graduated Repayment Plan Payment Example – This informational repayment example uses typical loan terms available to a borrower who elects the graduated repayment plan and makes lower payments for the first 2 years in repayment, has a $30,000 loan and a 3.25% variable APR: 24 payments of $130.56; 156 payments of $226.43, for a total paid of $38,457.17. Variable rates may increase after consummation. Immediate Repayment Plan Payment Example – This informational repayment example uses typical loan terms available to a borrower who elects the immediate principal and interest payment plan; has a $30,000.00 loan and a 3.25% variable APR: 180 payments of $211.38, for a total paid of $38,048.85. Variable rates may increase after consummation.

Federal student loans permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled. Depending on what type of Federal student loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active duty service member and you obtained your Federal student loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan. If you are a borrower with a secure job, emergency savings, strong credit and are unlikely to need any of the options available to distressed borrowers of Federal student loans, a refinance of your Federal student loans into a private student loan may be attractive to you. You should consider the costs and benefits of refinancing carefully before you refinance.

Become A New School Ambassador

Don’t keep the new school to yourself. Refer a friend to refinance their student loans and receive $100.


Membership Eligibility

It's easy to become part of our community. Thrivent Federal Credit Union is a member-owned financial institution driven by Christian beliefs and values, combining faith and financial expertise to help our members live confidently and generously. You must be an associate or benefit member of Thrivent Financial to be eligible for credit union membership. To be eligible for a student loan, you must be:

  • A member of Thrivent Federal Credit Union.
  • A U.S. citizen or permanent resident.
  • Old enough to borrow legally in your state.
  • Currently enrolled at least half-time in a graduate or undergraduate degree program at an eligible school.

Thrivent Federal Credit Union membership is required for the borrower. If you’re not already a member, you will be asked to apply for membership when you apply for your loan. Deposit and lending services are offered by Thrivent Federal Credit Union, a member-owned, not-for-profit financial cooperative that is federally insured by the National Credit Union Administration and doing business in accordance with the Federal Fair Lending Laws. Must qualify for membership. Insurance, securities, investment advisory and trust and investment management accounts and services offered by Thrivent Financial for Lutherans or its affiliates are not deposits or obligations of Thrivent Federal Credit Union, are not guaranteed by Thrivent Federal Credit Union or any bank, are not insured by the NCUA, FDIC or any other federal government agency, and involve investment risk, including possible loss of the principle amount invested.