First Tech Federal Credit Union Student Loan Refinancing Review

First Tech has a team of student loan specialists and lets borrowers choose to make lower monthly payments starting out.
Ryan LaneMar 18, 2021

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Our Take

3.0

NerdWallet rating 

The bottom line: First Tech Federal Credit Union primarily serves the technology industry. Its refinancing loan is an an option for borrowers who work in that industry or those who want to make lower monthly payments starting out.

First Tech Federal Credit Union Student Loan Refinance

First Tech Federal Credit Union Student Loan Refinance

Fixed APR

2.80 - 7.15%

Min. Credit Score

660

Pros & Cons

Pros

  • Three repayment options: Fixed, interest-only or balloon.
  • Greater-than-minimum payments allowed via autopay.

Cons

  • No option to temporarily pause payments through forbearance.
  • No death or disability discharge.
  • Students cannot refinance a parent PLUS loan in their name.

Compare to Other Lenders

PenFed Student Loan Refinance
LendKey Student Loan Refinance
NerdWallet rating 
NerdWallet rating 
Check RateCheck Rate
Fixed APR

2.89 - 5.08%

Fixed APR

2.49 - 7.75%

Variable APR

N/A

Variable APR

1.90 - 5.25%

Min. Credit Score

670

Min. Credit Score

660

Full Review

First Tech Federal Credit Union primarily serves the technology industry — people who work at places like Amazon, Intel and Microsoft.

But with repayment options that allow lower monthly payments starting out, its student loan refinancing product could be a fit for other professionals whose incomes are expected to grow over time.

You must be — or become — a member of First Tech to be eligible for its student loan refinance product. You qualify for membership if you work for one of the hundreds of technology and telecom . There are also other relatively easy ways to qualify for membership, such as joining the Financial Fitness Association.

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First Tech could improve by:

You can apply for a First Tech refinanced student loan on its website. Before deciding on a student loan refinance lender, compare multiple options to make sure you’re getting the best rate you qualify for. In addition to interest rates, compare lenders’ repayment options and the flexibility they offer for borrowers who are struggling to make payments.

If First Tech denies your refinance application, the . Depending on the reason, you may want to consider other lenders or need a co-signer.

NerdWallet recommends before you apply. This will let you know which lenders you may be eligible with, without affecting your credit.

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NerdWallet believes the best student loan is one you can repay at the lowest interest rate you can get. That’s why NerdWallet’s student loan ratings reward lenders that offer a variety of loan terms, limit their fees and penalties, and extend borrowers multiple options to avoid default. Points are also awarded for soft credit checks, underwriting transparency and other consumer-friendly features. Use these ratings as a guide, but we encourage you to shop around for the lowest interest rate you can qualify for. NerdWallet does not receive compensation for its reviews. Read our .

Frequently asked questions