Purefy offers a transparent approach and simple process which can save you money on your student loans. We have partnered with some of the most competitive lenders to bring you options, lower rates and a wider selection of maturities. We have a personal loan advisor waiting to help you, and invite you to Find Your Rate – without requiring a credit check.

We launched Purefy in 2014 to offer a simple, transparent, time and money-saving way to find the best student loans. We are nimble, innovative and dedicated to providing you the tools and options to help lower your student loan rates and get out of debt sooner. We also have the best small team of personal loan advisors in the business.

Loan Features

Parent Loans
Parents who are qualified may choose to borrow in their own name to shield their children from some or all of the future burdens of student debt. Private student loans can offer interest rates that are lower than federal ParentPLUS loans to parents with good-to-excellent credit.

Student Loan Refinancing
Student loan refinancing is the process of either taking one or multiple student loans and then refinancing them into a new single loan that often include new terms, such as a lower interest rate, a new monthly payment, and a new repayment length. Refinancing is a great solution for working graduates or those no longer enrolled in school who have high-interest rates on current outstanding student loans. Refinancing can lower your interest rate and shorten your term to help you get out of debt faster. Borrowers should be aware that by refinancing, they may lose certain benefits offered by the federal programs, such as deferments, forbearance, and income-based repayment plans.

Undergraduate & Graduate Student Loans
Select your best option and apply online in 15 minutes or less. Choose a private student loan when federal loans, scholarships, and work-study are not enough to meet your needs.

Application Process

Although you may have good credit yourself, applying with a cosigner who also has good credit and strong income can ensure that you meet our lender’s credit criteria. This will increase the likelihood that you will pass our lender’s initial credit screening process and they provide you with a lower interest rate on your student loan refinance. You can check your rate with a cosigner before applying by estimating your cosigners credit score on our Find My Rate tool. Our lenders will use the higher of the two credit scores for qualification purposes which means you can max out on savings.

Please note that when an application has a cosigner, the borrower and the cosigner will both a) jointly apply for credit; and, (b) be jointly liable for the requested loan. Each of our lenders has a different policy for a cosigner release. PenFed borrowers with a cosigner on their loan may request a “cosigner release” if after one year (12 consecutive months) of on-time payments is met, and a quick re-evaluation (note: this does not mean the borrower would have to re-apply) is completed on the borrower’s financial and credit profile. Give us a call at 202-888-4320 if you would like to see if you qualify.

For Citizen’s cosigner release, borrower must make 36 consecutive on time payments before requesting a cosigner release.

PenFed Cosigner Requirements:
If your annual income is between $25,000 and $41,999, then you will need an eligible cosigner on your application. Also, if your credit score is between 670 and 699, then you will need an eligible cosigner on your application.

Citizens Cosigner Requirements:
If your credit score is between 620 and 679 you will need an eligible cosigner on the application. Your cosigner must have a credit score at or above 660 and you and your cosigner must have income at or above $24,000 to qualify.

Use this checklist to help you prepare to complete the online application process.
Personal information name, Social Security number, date of birth)
Address (mailing address and permanent address)
Phone number(s)
Email address
Employment information, if applicable employer name, phone, annual income)
Personal reference name, address, phone)
School information name of school, grade level, expected graduation date)
Loan information (amount needed and when)
Income information (if applicable); on a cosigned loan, this is usually not required of the student but is of the cosigner

What documents do I need to provide to complete the application process?
PenFed: PenFed requires 5 items during the underwriting process:

Income verification: A paystub or tax return
Photo ID: A Driver’s License, Passport, or state-issued ID card
Payoff Verification Statements from each existing servicer: a statement that projects the payoff amount 10, 15, or 30 days into the future
Graduation verification: A copy or photo of your diploma or transcripts
PenFed Membership Application: included in your application after pre-approval
No need to break out the fax machine, a smartphone picture or screen shot will suffice.

Social Security Number and Date of Birth
Driver’s license or state ID number
Current contact information (e.g. address, phone number, email)
A recent pay stub or other income information
Billing statements for the loans you wish to refinance

Repayment Terms

Minimum Loan Amount $7,500
Maximum Loan Amount $90,000
Loan Term 5-20 years
APR 2.00%–7.98%

Customer Support

Email: info@purefy.com
Text: 202.688.5572
Call: 202.524.1115
Hours of Operation
Monday – Friday: 9 AM – 7 PM ET

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