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IMPORTANT NOTE: This application is for a PenFed Refinance Loan. This is not a federal student loan application.

You should review the benefits of your federal student loan; it may offer specific benefits that a private refinance/consideration loan may not offer. If you work in the private sector, are in the military or are taking advantage of a federal department of relief program, such as income-based repayment or public service forgiveness, you may not want to refinance, as these benefits do not transfer to private refinance/consolidation loans.

PenFed reserves the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet PenFed's underwriting requirements. Lowest rates are reserved for the highest qualified borrowers. Existing PenFed Student Loans are eligible for the Student Loan Refinancing Program.

Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed rates will vary based on application terms, level of degree, and presence of a co-signer. The rates are subject to additional terms and conditions and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.

The initial inquiry will be a soft pull that will not affect your credit score. If you choose to initiate a loan application after checking your rates, you will be required to authorize a full credit report inquiry, which would be considered a hard pull and may affect your credit.

Your actual savings, if any, may vary based on interest rates, balances, remaining payment terms and other factors.

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