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Why Apply?

With student loan debt escalating each year, many Americans are more focused on making a living than living their lives. First Tech is here to help. Our Student Loan Refinance Program may help you manage student debt by improving cash flow, so you can live the life you want now. 

Think of it as your fast track to prosperity. 

Plus, when you refinance your private or federal loans with a member-owned credit union, you also get piece of mind that money made from your interest goes back into the products and services that benefit you

When you refinance your student loans with First Tech, you’ll work with a dedicated specialist to assist in finding a loan and repayment schedule that grows with your success. We listen to your needs and goals and offer the products and services to help you achieve them. 

Student Loan Refinancing Options


Added Value
Origination Fees
Application Fees
Refinance Fees
Prepayment Penalty Fees
Pay fixed payments throughout the life of the loan for 5, 10 or 15 years
Make smaller monthly payments and one large payment of 40% or 50% of the original loan amount at the end of the loan term of 15 years
Make smaller initial payments of interest only from 1-10 years, then larger payments of principal and interest for the remainder of the loan term of 15 years
Pay the same fixed monthly payment throughout the loan term.  This option will accrue the least amount of finance charges over the life of the loan.
Pay lower monthly payments at the onset with one final large payment.  A great benefit for professionals who may have bonuses or higher earnings potential as their careers grow. 
Smaller initial monthly payments.  A great benefit for professionals who are likely to have bonuses or higher earnings potential as their careers grow. 

Application Process

Determine Eligibility

In order to be eligible, the following criteria must be met: 

First Tech Member at the time of funding

U.S. Citizen or Permanent Resident

Provide a valid Social Security Number 

Provide a physical U.S. address 

Be of legal age for the state in which you reside at the time of application 

Attended or graduated  from a not for profit  accredited U.S. Title IV eligible school 

Easily Submit an Application

Be prepared with the following information:



Social Security Number

Employer Information including salary

If you are going to have a co-signer

The number of loans you plan on refinancing

The approximate balance being refinanced

After Submission

You will receive two emails: One with the status of your loan application and one with applicable disclosures

If your application is approved, you will receive a notice of approval

You’ll be asked to provide proof of income and recent copies of your current loan statements

You'll be sent loan documents for review and signature(s)

You’ll receive your final disclosure and you will have the option to make automatic payments

Lifestyle Package

Refinancing your student loan is just the start. At First Tech we're here to help you with your entire financial life; and that's why, once you get your new student loan, you may also be eligible for discounts on Auto Loans and bonuses on Checking Accounts and Credit Cards.

Learn More
Manage Existing Loan Image
Is refinancing your student loans the right thing to do?
Learn about the Pros and Cons of refinancing your current student loans. Learn More
Our DebtSafe program offers the ability to cancel all or a portion of the loan balance in the event of Loss of Life, Disability, or Involuntary Unemployment.
Student Loan Infographic
Should you refinance your student loans?
View the NerdWallet infographic to help determine what's best for your situation. Learn More

Common credit union questions

Student Loan Lifestyle Image 2

What is the difference between a bank and a credit union?

Banks are for-profit and credit unions are owned by the members and are not-for-profit.


How do I join?

Joining First Tech is easy.

  • Stop by a First Tech location
  • Call 855.855.8805 to learn more
  • Apply online when creating a loan application


Are there branches near me?

  • First Tech has over 40 branches with hubs in Washington, Oregon, & California.
  • You can deposit or withdraw money from our network of over 30,000 co-op branches and ATMs.
  • Best of all, First Tech has one of the most advanced banking apps in the industry that allows you to deposit money, pay bills, transfer money, and send money to friends.

Student Loan FAQs

Student loan refinancing overview

Potential benefits of refinancing student loans include:

  • Combining multiple payments from various lenders into one payment
  • A lower monthly payment
  • A lower interest rate and/or a smaller amount of money paid out over the life of the loan.

Federal loans offer specific protections for some borrowers including loan forgiveness, deferment, and forbearance. These options could be lost by refinancing a federal loan to a private loan.

Rates are determined by your credit score, terms of the loan and the amount of the loan. The rate will be disclosed to you prior to you accepting the loan.

The potential to save money when refinancing depends on a few factors. Both the rate and the length of the new loan will impact your monthly payments. It’s possible to save money on a monthly basis but still pay more over the life of the loan. It’s important to look at all factors when looking to refinance a loan.

During the application process we’ll need proof of income, usually a W-2 form for the last two years and a current paystub will suffice. Additionally, we’ll need the most recent statements of your current loans. Other items may be required as we process your loan.

You may email the Student Loan Team any time at or call 888.422.5680.

What can I refinance?

If interest rates have dropped since your original loan disbursement, you can take advantage of the lower rate by refinancing. Securing a better rate not only lowers your monthly payment, but reduces the amount you owe over the life of the loan.

Yes, you may refinance student loans at First Tech even if you have already refinanced with another financial institution.

You may refinance student loans in a range of sizes, small or large. The First Tech student loan team can review your current student loans and make a recommendation based on your individual account .

You may refinance select student loans with First Tech, but each individual loan must be paid in full. You may not refinance with a partial payoff on a student loan.

You may refinance all student loans, consolidating private and federal loans together.

Yes, you may refinance Federal Direct student loans with First Tech.

Yes, you may refinance federal student loans with First Tech, even if they are held by a third party service.

You may refinance a PLUS student loan if you are the primary signer on the loan.

What does refinancing look like?

There are many student loan refinancing options. The type of loan you choose depends on the timeframe (how long you want to take to repay the loan) and what size payments you are able to make.

    If you want to make lower payments now, but anticipate you will be able to make higher payments in a few years, you may want to look at a Balloon Loan or Interest-Only Loan.
  • If you are looking for a lower interest rate and consistent payments for the life of the loan, First Tech’s popular Fixed Term Loan may be right for you.

Contact a First Tech student loan expert to discuss your student loan refinancing options.

Student loan interest rates are determined by your credit score, terms of the loan, and the amount of the loan.

How do I refinance my student loans?

To refinance your student loans, you will need to submit:

  1. Proof of income (this could be a W-2 form for the last two years and a current pay stub)
  2. The most recent statements of your current loans
  3. Other items may be requested as First Tech processes your loan

The application process to refinance student loans typically takes about five (5) business days. Some unique situations may take longer to process.

Repayment on your student loans depends on the type of loan.

For Fixed Rate Loans, your first payment can be up to 90 days after closing.

For Balloon and Interest Only Loans, your first payment is due 30 days after closing.

A refinanced student loan can be co-signed by a parent as long as the primary signer on the original loan is the same before and after refinancing.

At this time, First Tech does not offer this option.

Please contact a First Tech Student Loan specialist.

What does First Tech offer?

First Tech only offers refinancing of current student loans.

Loan refinancing can be a great way to save money. When you refinance student loans, your old loan(s) are paid off with a new loan, and the old terms are replaced with new terms. Most people choose to refinance their student loans to pay less interest or have smaller monthly payments.

Loan consolidation combines multiple student loans into a single, larger loan. You may consolidate private and federal loans together, so you make just make one payment.

The Student Loan Lifestyle Package is available exclusively to First Tech members. Student loan refinancing is just one of the many great benefits available when you become a member.

The Student Loan Lifestyle Package includes special bonuses and discounts on other First Tech products like checking accounts and credit cards. Ask the Student Loan Team for more information.

*APR=Annual Percentage Rate.  Actual rate will be determined based on the applicant's credit history, and final loan terms.  Offer is subject to normal credit qualifications, meeting First Tech Federal Credit Union's relationship requirements and underwriting policy guidelines.  Interest rate and program terms are subject to change without notice.  Additional restrictions may apply.
**15-Year Fixed Loan Term Rate selected for comparison purposes only, your current rate may be higher or lower. 

a.  Not all existing student loans will qualify for refinance under our program; eligibility depends on the school of graduation and the degree .The school must be Title IV eligible, non-profit and offer Bachelors, Masters and/or Doctorate degrees. Title IV refers to the Higher Education Act. A Title IV school is an institution that processes U.S. federal student aid.
b. Membership with the Credit Union is required to obtain a loan.
c. A balloon loan is a loan that requires a larger-than-usual one-time payment at the end of the loan term. This can mean your payments are lower in the years before the balloon payment comes due but you will owe a larger amount at the end of the loan.
d. An interest only loan will have lower payments during the interest only term and will result in a higher payment during the payback period when principal and interest is included in the monthly payment.  
e. Choosing the balloon loan or interest only loan will result in additional interest over the life of the loan when compared to the fixed loan.
f. For your reference, here is a copy of the Federal Benefits Disclosure
g. For your reference, here is a copy of the Student Loan Credit Agreement