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Compare student loans: Financing options that fit your college lifestyle

When it comes to student loans and credit lines, we know you need flexible options. Browse loan and credit types and make the borrowing decision that's right for you.

Feature Thrivent Private Student Loan, fixed rate Thrivent Private Student Loan, variable rate Thrivent Student Tuition Line of Credit
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Best for students who:
  • Are planning for one year of expense at a time.
  • Will be able to pay off the loan in a shorter period of time.
Same as fixed rate loan.
  • Have two or more years of school to fund.
  • Are unsure of the total amount needed for their education.
  • Want flexibility in repayment.
Application frequency: Apply every year for funding needed. Same as fixed rate loan. Apply once to open your credit line, and make requests to withdraw funds online for each subsequent school year.
Amount you can borrow: Up to $80,000 Up to $80,000 Up to $80,000
Access to funds: You receive the funds you applied for each year. Usually the school requests for the funds to be split between semesters. Same as fixed rate loan. You make a draw request each year, which is disbursed to your school typically in two equal amounts, half for Fall semester and half for the Spring semester.
Repayment terms: Up to 15 years.1 Same as fixed rate loan. Up to 25 years.2
Choose these rate options if you: Want a level payment. Are comfortable with the rate changing and possibly going up over time. Are comfortable with the rate changing and possibly going up over time.
Current rates: As low as 5.49%, a 5.20%5 APR. As low as 1-month LIBOR3 + 2.00%, currently at 3.00%, a 2.94%4 APR. Variable as low as 1-month LIBOR3 + 2.00%, currently a 3.00% APR6.
Interest rate reduction 0.25% rate reduction for auto payment of principal and interest.7 0.25% rate reduction for auto payment of principal and interest.7 0.25% rate reduction for auto payment of principal and interest.7
Grace period Generally six months.8 Generally six months.8 Generally six months.8

1 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 5.27% variable APR: 126 payments of $130.20 for a total paid of $16,404.78. Variable rates may increase after consummation.

2 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 5.50% variable APR: 180 payments of $81.71 for a total paid of $14,707.39. Variable rates may increase after consummation.

3 LIBOR stands for London Interbank Offered Rate. We use the one-month LIBOR, as published by Bloomberg, as the index for our variable rate loan and line of credit. To get your interest rate, we take the index, add a margin that depends on your and/or your cosigner's credit, and round the result up to the nearest one-eighth of one percent. Consequently, your interest rate and Annual Percentage Rate (APR) may be higher than the rates in the chart. Your interest rate will be calculated on the first day of each calendar quarter (January 1, April 1, July 1 and October 1). Your interest rate and APR will increase or decrease if the index changes. The index for the 2nd calendar quarter of 2017 is 1.00%.

4 For our variable-rate loans, the APRs in effect as of 4/1/2017 range from 2.94% to 10.00%, depending on your and/or your cosigner's credit histories and the repayment option you select.

5 For our fixed-rate loans, the APRs in effect as of 4/1/2017 range from 5.20% to 9.99% depending upon your and/or your cosigner's credit histories and the repayment option you select.

6 For our variable-rate lines of credit, the APRs in effect as of 4/1/2017 range from 3.00% to 10.00% depending on your and/or your cosigner's credit histories and the repayment option you select.

7 Automated payment discount(s) only apply when full payments of principal and interest are automatically drafted from a bank account. Discount(s) will continue unless (1) the automatic deduction of payments is stopped (including times during deferment or forbearance) or (2) there are two automatic deductions denied by your bank.

8 Grace periods – the period between leaving school and the time full payments of principal and interest begin – may be dependent upon the repayment option you select and the length of time you are enrolled in school.

Certain restrictions and limitations may apply. Thrivent Federal Credit Union reserves the right to change or discontinue these programs without notice. All loans and lines of credit are subject to credit approval and may not be available in certain schools or certain jurisdictions. For more information call us at 866-540-3191.

We expect that loans and lines of credit may eventually be sold to Thrivent Financial or one of its affiliates. No such sale will result in any change in the loan terms or in the loss of any borrower benefits, such as the discount for automated payment.

Repayment options

Option Benefit In-school cost After Graduation Payment Considerations
Make no payments while in school. Gives you the convenience of delaying repayment. Make no payments while enrolled in school for up to five consecutive years. Begin full payments of principal and interest. Interest will continue to accrue and any unpaid interest will be added to the principal balance at repayment.
Make minimum payments while in school. Helps you establish a good payment practice, while lowering the amount of overall interest that accrues on the loan. Make minimum monthly payment while in school. Begin full payments of principal and interest. May not reduce the principal amount due, and any unpaid interest will be added to the principal balance at repayment.
Pay interest only while in school. Low payments during school to help reduce overall debt. Pay interest only; defer principal while in school for up to five consecutive years. Begin paying on the principal. Payment increases with the addition of the principal payment. Does not reduce the principal amount due at repayment.
Begin repaying loan while in school. Allows for maximum savings over the life of the loan. Pay principal and interest monthly. Continue paying principal and interest for the term of the loan. Payment stays the same as it was during school. Shortest option for repayment.

All loans and lines of credit are subject to credit application, qualification and approval and may not be available in certain schools or certain jurisdictions. Must qualify for membership. For more information call us at 866-540-3191.