Student Borrowing

Trufit Student Loan®

A flexible, affordable borrowing option.

Choose interest rate and repayment terms that work for you

  • Eligible applicants have a choice of a fixed or variable interest rate as low as 2.65% APR1
  • No application, origination or disbursement fees
  • Lower your interest rate by up to 0.50 percentage points with available discounts2
  • Flexible repayment options (see examples)

Apply Now

Save up to 0.50 percentage points off your interest rate2

The details

  • Fees

    No application, origination or disbursement fees

  • Interest Rate Options

    Eligible applicants may choose:

    • A fixed rate as low as 5.75%1 or
    • A variable interest rate as low as one-month LIBOR

      (London Inter-Bank Offer Rate) This is the interest rate that London banks charge each other for loans, which is then used as a benchmark rate for banks all over the world. If you have an adjustable interest rate, the LIBOR may be the interest rate index that your lender uses to determine your interest rate. When LIBOR goes up, your rate will rise along with it, if you have an adjustable rate on your loan.

      plus 2.50%.1

    Actual interest rate is based on credit, presence of a co-signer and repayment option chosen.1

    View interest rate and repayment examples .

    Students are encouraged to apply for a private student loan with a qualified co-signer to increase chances of receiving the lowest rate possible.

  • Money Saving Benefits

    Ways to save:

    • You will be eligible for a 0.25 percentage point interest rate reduction on a new TruFit Student Loan if you or your co-signer (if applicable) has a TruFit Student Loan or qualifying account in existence with us at the time of application submission.2
    • During periods when payments are due, you will be eligible to receive a 0.25 percentage point interest rate reduction on your loan by authorizing our loan servicer to automatically deduct your payments each month from any bank account you designate.2

    All together, you could save up to 0.50 percentage points on your loan.

  • Borrowing Limits

    Depending on your education level, the borrowing limits vary. The lifetime aggregate amount of your TruFit Student Loans plus federal and other private student loans cannot exceed:

      Total Private and Federal
    Student loan Debt
    Total Charter One
    Student Loan Debt
    Undergraduate $120,000 $90,000
    Graduate $150,000 $110,000
    Business and Law $175,000 $130,000
    Medical and Dental $225,000 $170,000


    Minimum borrowing amount is $1,000.

  • Repayment Options

    Choose the repayment option that best meets your needs. We recommend that you pay off your balances as quickly as possible to reduce the overall cost of your loan.

    Pay Immediately: Make principal and interest payments while in school.

    Pay Interest Only: Make interest-only payments while in school.
    This will reduce the total interest you pay on your loan.

    Deferred Payment: Make no payments until six months after graduation or after you leave school or drop below half-time status.

  • Term Options

    Choose the time period to repay your loan:

    5 year term: Offers lowest rates and lowest total cost of borrowing.

    10 year term: Offers lower rates and moderate savings on total cost of borrowing.

    15 year term: Offers lowest monthly payment.

    No matter which term you choose, you can always make additional payments without penalty. This lets you pay off your loan faster and saves you money.

  • Disbursement

    We'll send your loan funds directly to the school you're attending.

  • Who's Eligible?

    To qualify for a TruFit Student Loan, you need to:

    • Be a U.S. citizen or permanent resident.
    • Be enrolled at least half time in a degree-granting program at an eligible institution.
    • Have good credit or have a qualified co-signer.
    • Have attained the age of majority in your state of residence or if you have not met the age of majority in your state of residence, a co-signer will be required.

    International students can apply with a creditworthy U.S. citizen or permanent resident co-signer.

  • Co-signer Requirements

    For students with little or no credit history, we strongly suggest that you apply with a qualified co-signer to increase your chances of being approved. A qualified co-signer may also help you secure a lower interest rate.

    Co-signers can now start the loan application online.

    After 36 consecutive, on-time principal and interest payments, a co-signer may apply for release from the loan.3

How to apply

Fill out the fast, easy online TruFit Student Loan application. You can even e-sign. 4

For students with little or no credit history, we strongly suggest that you apply with a qualified co-signer to increase your chances of being approved. A qualified co-signer may also help you secure a lower interest rate.

Co-signers can now start the loan application online. And after 36 consecutive on-time principal and interest payments, a co-signer may apply for release from the loan.3

Things you'll need for the application

  • Name, address, phone number, email address
  • Date of birth
  • Social Security Number
  • Driver's license number
  • Gross monthly household income (borrower and co-signer)
  • Employer name, phone number and length of employment (if applicable)
  • Monthly rent or mortgage payment (if applicable)
  • Name of school you plan to attend
  • Cost of attendance and any financial aid received (see award letter from your school)
  • Anticipated graduation date (MM/YYYY)
  • Loan amount requested
  • Loan period (MM/YYYY to MM/YYYY)
  • Co-signer name and valid email address (if applicable)

Apply Now

Save up to 0.50 percentage points off your interest rate2

FAQs about the TruFit Student Loan

Do I need to file the Free Application for Federal Student Aid (FAFSA) form to apply for the TruFit Student Loan?

No. Private student loan borrowers DO NOT need to submit a FAFSA. Simply complete the online TruFit Student Loan application to apply.

How much can I borrow with a TruFit Student Loan?

You may borrow up to the maximum qualified loan amount or the total cost of education, whichever is lower. The TruFit Student Loan does have lifetime aggregate limits (including both federal and private loan debt) of:
  • Undergraduate: $120,000
  • Medical: $225,000 (MD, DO, DMD, DDS)
  • Law: $175,000
  • MBA: $175,000
  • Other Graduate Degrees: $150,000

Can a TruFit Student Loan help pay for my books and my personal expenses while I’m at school?

Yes. Our TruFit Student Loan can be used to help pay for your indirect costs while you are enrolled in school. The maximum you can borrow each year is determined by your individual school through certification.

How do I apply for a Trufit Student Loan?

To apply for the TruFit Student Loan, all you need to do is fill out the quick and easy online application. Before you apply, make sure you have the following items available so you can easily complete your application:
  • Name, address, phone number, email address
  • Date of birth
  • Social Security Number
  • Driver’s license number
  • Gross monthly household income (borrower and co-signer)
  • Employer name, phone number and length of employment (if applicable)
  • Monthly rent or mortgage payment (if applicable)
  • Name of school you plan to attend
  • School’s Department of Education code
  • Cost of attendance and any financial aid received (see award letter from your school)
  • Anticipated graduation date (MM/YYYY)
  • Private college loan amount requested
  • Loan period (MM/YYYY to MM/YYYY)
  • Co-signer name and valid email address (if applicable)

Remember, students are encouraged to apply with a qualified co-signer to increase their chances of receiving the lowest rate possible.

Are there any fees for a TruFit Student Loan?

The TruFit Student Loan has no origination, application or disbursement fees.

What kind of credit is required for a TruFit Student Loan?

We will need to see a reasonably strong credit history, which is derived from your credit score. If you do not have a sufficient credit history, you should apply with a creditworthy co-signer.

What if I am not approved for a TruFit Student Loan?

If you apply for a private student loan on your own, without a co-signer, and are denied, it's probably because you have an insufficient personal credit history, as is typical for a student. You'll simply have to find a qualified co-signer, such as a parent or other guardian, and re-apply.

Are there any penalties for paying off a TruFit Student Loan early?

There's no prepayment penalty.

Any other questions about TruFit Student Loans?

Please speak with one of our Student Loan Specialists at 1-800-721-3969.

Apply Now

Save up to 0.50 percentage points off your interest rate2

 
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