Alliant Credit Union Student Loan Refinancing Review

This article describes all about refinancing your student loans with Alliant Credit Union. This article briefs on Alliant as a lender, its schemes and interest rates and its drawbacks.

Updated by Anuroop C on 26th February 2020

Update: As of July 2019, Alliant has terminated its student loan refinancing product. Borrowers looking for student loans refinancing should investigate one of the other loan refinancing options. Check out our best companies that refinance your student loans. In case Alliant starts offering student loans refinancing again, then we will update you on this page.

Alliant Credit Union student loan refinancing is offered to people who are looking to refinance their student loans. Although Alliant are infamous for their average offerings, Alliant has no major red flags and many of the student loan refinancers say that they had a good time with Alliant. 

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All about Alliant

Alliant offers interest rates that are not the best in the market, but they are not that high as well. And that is the reason why Alliant can be a good option for refinancing your student loans under some circumstances.

Alliant is a credit union that refinances student loans, thereby it is for non-profit. And Alliant has a really good reputation as a credit union with really good customer service and treats its members fairly. And Alliant is best known for its high interest in offering savings account.

But the student loan refinancing offers fall under the mediocre category.

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Refinancing schemes and interest rates in Alliant

Alliant offers 5,10,15 and 20-year student loans and will refinance both federal government and private student loans. Interest rates start at 4.25% for their 5-year variable-rate loan and at 4.50% for the fixed-rate variety, with a maximum borrowing limit of $100,000.

The only bad thing about Alliant student loans are serviced by the University Accounting Services.

Alliant does not levy any origination fees or prepayment penalties. But they levy a nominal charge of $10 for becoming a member of the Alliant Credit Union(if you are not one). Members from some communities can become members of the Alliant Credit Union for free.

Drawbacks of refinancing your student loans with Alliant

Though Alliant has a great reputation, these are some of the drawbacks that you can have while refinancing your student loans with Alliant Credit Union.

Losing your federal benefits

If you are having federal student loans and looking at refinancing your student loans with Alliant, then you will be loosing various valuable benefits such as PSLF, Income-Driven Repayment Plans and etc.

Co-signer emphasis

Alliant makes it clear having a cosigner improves your chances of refinancing your student loans at a lower interest rate. Therefore it does matter having a cosigner with a good credit score.

Their servicer is University Accounting Services

Although Alliant has an excellent reputation, UAS does not. UAS is the company responsible for processing all the payments and determining the due amount. Therefore the bad benefit of the UAS reduces the authenticity of working with Alliant in refinancing your student loans.

Alliant has a good reputation among consumers, and it has maintained that since its establishment in 1935. So borrowers can expect fair treatment from this lender. Overall, if you are looking to refinance your student loans or want to know more about refinancing your student loans, then read more on Refinancing your student loans.