U-fi Student Loan Review

U-fi was established over 40 years ago under Nelnet, one of the country’s largest student loan providers. U-fi offers student loans for undergraduate, graduate, MBA and professional degrees like those in law or health. The lender also allows borrowers to refinance their student loans.

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Last Updated: 7/28/2022
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With U-fi, you can get private student loans with flexible repayment options. U-fi allows borrowers to have a co-signer. To qualify for a U-fi loan, you’ll need a minimum credit score of 680, regardless of whether or not you have a co-signer. U-fi is available in all U.S. states except Vermont.

At a Glance: U-fi Student Loans


  • U-fi

    • 3.34%–11.66%Fixed APR Range
    • 1.26%–10.09%Variable APR Range
    • $1,000–$500,000Loan Amounts
    • Six monthsGrace Period
    • OptionalCo-signer

    on U-fi Website

MoneyGeek Breakdown: U-fi Student Loan Details and Requirements

U-fi Details

  • Fixed APR

    3.34%–11.66%

  • Variable APR

    1.26%–10.09%

  • Loan Types

    Undergraduate, graduate, MBA and professional degrees

  • Loan Amounts

    • Undergraduate: $1,000–$125,000
    • Graduate: $1,000–$500,000 (depends on the degree)
  • Repayment Terms

    5–15 years

  • Grace Period

    Six months

  • Co-signer Required

    A co-signer is optional and can be released after 24 consecutive on-time payments

  • Time to Receive Funds

    N/A

  • Late Fees

    Late fees are 5% of the payment that wasn’t paid in full when due or $25, whichever is less

  • Prepayment Penalty Fees

    No

  • Perks

    U-fi is transparent about rates and borrower requirements

  • Mobile Application

    No

U-fi Student Loan Application Requirements

1

Borrower or co-signer must be a U.S. citizen or permanent resident

2

Social Security number

3

Minimum half-time enrollment at a U-fi eligible school for the loan period

4

Annual income of at least $36,000 and proof of income

5

No previous defaults on a student loan

6

No bankruptcy on file in the past seven years

7

Minimum credit score of 680

Is U-fi Right for You?

The best student loan for you depends on your financial needs and individual situation. When shopping around for a lender, consider their rates, fees and terms.

Type of Student U-fi Is Perfect For

U-fi is a great option for a wide range of students as they offer loans for undergraduate, graduate, doctorate, law and MBA degrees. Borrowers with above-average credit scores and a minimum annual income of $36,000 should qualify for U-fi loans.

If you want flexible repayment terms and personalized loans, U-fi is a good fit. U-fi is also ideal for students if they want a co-signer or if they need to refinance their existing student loans. Students looking for potential savings may also apply since U-fi has relatively low interest rates and no application fee.

Who Should Not Choose U-fi

Not every student loan lender will fit your exact needs. For example, U-fi has a maximum loan amount of $125,000 for undergraduate students. Other student loan companies may offer higher loan amounts.

U-fi also has a repayment term of up to 15 years. If this is too short for you, you might want to consider another lender. Borrowers who prefer using a mobile app should also consider other student loan companies, as U-fi does not currently offer an app. If you or your co-signer have filed for bankruptcy or have defaulted on a previous student loan, you won’t be eligible for a U-fi loan.

How to Apply for a U-fi Student Loan

You’ll need to go through an application process to get a student loan from U-fi. Here’s MoneyGeek’s step-by-step guide for U-fi student loan applications.

1

Prequalify

On the U-fi website, click on “Get Started.” Enter the name of the school where you’re currently enrolled to check for eligibility. Afterward, create an account and provide your name and email address.

2

Fill Out the Application Form

In this step, you can add a co-signer (if needed). When filling out your application form, U-fi might ask you several questions to see if you qualify. For instance, you’ll need to provide your or your co-signer's credit score.

3

Review Loan Agreement

Read through the fine print for small yet important details. If you agree to all the terms, you can sign your student loan agreement.

4

Sign Loan Agreement

U-fi will send your application to your school for verification.

5

Receive Funds

Once U-fi receives certification from your school, the lender will direct your funds.

6

Make Payments

There are three different payment options with U-fi.

  • Immediate: Pay your principal and interest promptly.
  • Interest-only: Pay interest while you’re in school and make full payments after graduation.
  • Deferred: Start making payments six months after graduation.

What to Do if You Are Rejected From U-fi

There are instances when U-fi might deny your student loan application. But don’t worry — there are steps you can take moving forward.

To start, you can ask U-fi for the exact reason why your loan was denied. It’s possible that your loan was denied because you have a poor credit history, insufficient income, no credit score or incomplete documents. Once you figure out what that factor is, you may be able to negotiate your student loan. Try asking U-fi if you can shorten your repayment term or adjust rates to make your application acceptable.

Another option is to talk to your school’s financial aid advisor or office to learn more about student loans. They might be able to provide useful and reliable resources to help you in the process.

You can also try different student loan lenders that better suit your unique situation. But, if U-fi is your best option, try getting an eligible co-signer to increase your chances.

Frequently Asked Questions About Student Loans

To help you decide if U-fi is the right student loan company for you, MoneyGeek created this U-fi student loan review and answered the most commonly asked questions about U-fi’s loans.

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