Take control of your student loan repayment!
Refinance and consolidate your private and federal student loans (including PLUS loans) into one manageable loan, setting up one convenient payment and potentially lowering your rate.*Benefits of our solution:
- Borrow up to $75,000
- Fixed and adjustable rates available
- Repayment terms up to 15 years
- No prepayment, application or origination fees
- Easy online application and instant credit decision
- 24/7 call center and application support
- FREE financial educational resources
Requirements:
- Applicant must be a member of Westerly Community Credit Union
- Applicant must be a graduate of an accredited four-year college or university
- Applicant must show proof of full-time employment
- Applicant must be a U.S. citizen or permanent resident
- $5,000 minimum borrowing amount
FAQs
If you utilize the federal government’s consolidation program, you may only consolidate your federal loans. If you choose to refinance and consolidate your loans with a private lender, you may be able to combine both federal and private loans.* This includes PLUS loans that may have been taken in a parent’s name, which can be refinanced by either the graduate or the parent borrower. Keep in mind that by refinancing your federal student loans with a private lender, you will lose certain borrower benefits from your original loans.
*Options and terms may vary by credit union.
If you’re refinancing federal loans, you are no longer entitled to the repayment options and borrower benefits you’d normally get through your federal loan—like income-based repayment, unemployment deferment, loan forgiveness programs, a grace period, and debt cancellation.
Get Started
A Direct Consolidation Loan from the federal government allows you to consolidate multiple federal education loans into one loan.** The result is a single monthly payment for your federal student loans at one interest rate instead of multiple payments.
- A Direct Consolidation Loan has a fixed interest rate for the life of the loan. The rate is based on the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of 1%. There is no cap on the interest rate of a Direct Consolidation Loan.
- Offered only via the federal government – learn more at StudentAid.gov
- Available only for federal student loans, private loans cannot be consolidated
- A PLUS loan made to the parent of a dependent student cannot be passed on to the student during the consolidation
- Repayment term can be readjusted between 10-30 years
Your credit union will pay off your existing student loans* (including federal and private) and combine them into a single new loan. You will then make a single loan payment to your credit union instead of multiple lenders.
- Borrowers may choose fixed or variable interst rates which are then set based on your financial and credit history***
- Refinance private and federal student loans (including parent and graduate PLUS loans) into one payment**
- You can potentially lower your interest rate or monthly payment depending on the repayment terms you select.
*Subject to credit approval and Refinance loan limit. Credit approval includes verification of application information and receipt of payoff information.
**Keep in mind that by consolidating your federal student loans, you will lose certain borrower benefits from your original loans.
***Options and terms may vary by credit union.

Helpful Resources
