CordiaGrad Student Loan Consolidation Review

Get to know about CordiaGrad and their student loan features. Understand the basics of CordiaGrad, Cordiagrad student loan Consolidation fundamentals, and eligibility for it. Focus on a few warning before applying for CordiaGrad.

Updated by Kanishkar P on 24th February 2020

While looking for lenders who offer student loan consolidation and refinancing you may find a long list of them. Each lender offers different benefits and terms for their customers. Choosing the right one is purely based on your decision made according to your requirements and feasibility. We are here to help you out by summarizing the details of the lending company and its policies. For those who are searching for some information about CordiaGrad and their student loan consolidation programs, this article may be of help. 

Table of Contents

About CordiaGrad

Cordiagrad was founded in 2014 with the goal of adding more transparency to the student loan industry. CordiaGrad was later rebranded as Purefy. Purefy offers immediate transparency at an unprecedented level, by showing the exact rates before starting an application. We get right to the point and learn about Purefy with really low rates and no gimmicks. The company works with two partners, PenFed Credit Union and Citizens Bank, to service your student loans. These two lenders offer unique borrower focused benefits and align with our philosophy of transparency Zoeller adds. Purefy is a private student loan lender who also provides student loan consolidation and refinancing. As with everything regarding student loans, it is advisable for you to know more about how private student loan lenders operate.

Basics of CordiaGrad

Interest rates with CordiaGrad(Purefy) start at 3.00% on their variable-rate loans and go as high as 7.34%.  The fixed-rate loans start at 3.89%. These numbers are pretty good and would represent a huge improvement for most borrowers. The option in repayment terms provided are 5, 8 and 12years. Like other lenders, there is a .25% discount for auto payments.  Originally, CordiaGrad was more of an independent loan company, and now CordiaGrad loans are issued through Citizen’sBank or PenFed.

Eligibility Criteria for CordiaGrad

In reality, CordiaGrad doesn’t have any eligibility criteria but the partners of it do have some eligibility criteria such as.

PenFed eligibility requirements 

  • Must be at least 18 years old and no longer be enrolled in school

  • Must be a U.S. citizen

  • Must have an income of at least $25,000, or $42,000 to apply without a cosigner

  • Must have a credit score of at least 670, or 700 to apply without a cosigner

Citizens Bank eligibility requirements

  • Must be at least 18 years old and no longer be enrolled in school

  • Must be a U.S. citizen, permanent resident, or resident alien with a valid Social Security Number

  • Must have an income of at least $24,000

  • Must have a credit score of at least 620, or 680 to apply without a cosigner

CordiaGrad Student Loan Consolidation 

Student loan consolidation doesn’t have a credit requirement, and it offers the benefit of a single loan bill and potentially lower payments. But it’s only for federal loans, and it won’t cut your interest rate. Consider federal consolidation if you have federal student loans and private student loans you wish to consolidate and:

  • Need to consolidate to be eligible for income-driven repayment or public service loan forgiveness. This is the case if you have Student Family Education, Perkins or parent PLUS loans

  • Want a single federal loan payment, but don’t need it to be drastically lower

  • Are in student loan default and want to get back on track


CordiaGrad also refinances your student loans for you. Learn more about student loan refinancing to figure out if refinancing or consolidation would be more suitable for you.

Warnings before signing up with CordiaGrad

Here are two warnings one should keep in mind before signing up with CordiaGrad - 

1) Advised Consolidation of Federal Loans 

Before signing up with CordiaGrad borrowers must get an idea that consolidation of federal loans is a good idea but the risks are to be understood by the borrowers because it can cause a serious problem for them in their monthly expenditure and payment of the interest amount.

2) Consolidation of Spousal Student Debt 

This service is very unique to CordiaGrad because it is very disastrous for the couple to consolidate Spousal Student Debt at the time of a divorce because it will affect both of them, so it is advisable to keep the debts separate which more beneficial for the couple and it will not affect them if they decided to take a divorce.

3) No cosigner release

The CordiaGrad website clearly says that there is no way for a cosigner release program. This is not a very impressive move. This makes your cosigner stay bound to the loan until you repay it completely.  

4)Qualifying Loans For CordiaGrad

Like most consolidation companies, getting approved isn’t easy, but it is definitely doable.  The good news is that CordiaGrad is slightly more transparent than other lenders, and has shared some of their approval data.

At a minimum, CordiaGrad requires a credit score of 670, and if you are applying without a cosigner that number jumps to 700.  The average borrower has a credit score of 770. Borrowers also need to have two full years of employment and earn at least $25,000 per year $42,000 without a cosigner.  The average borrower makes $95,000.

5) No assured deferment and forbearance

At CordiaGrad you cannot expect deferment and forbearance on your student loans. You must be in a huge financial hardship to qualify for deferment and forbearance at CordiaGrad. But still, we can’t say that you will get it for sure.  

Who should apply for CordiaGrad?

CordiaGrad is best for those who are ready to pay off their loans within a shorter period. As CordiaGrad offers lower interest rates when compared to many other lenders it will be a  good option for the borrowers. 

And as a special feature, CordiaGrad offers Parent Plus Loan refinancing which many lenders don’t offer. So those who want to refinance their Parent Plus loans can choose CordiaGrad. This helps them save some money by lowering the interest on those Parent Plus loans.

Searching for refinancing options? Explore some best companies to refinance your student loans! 

Concluding Thoughts

CordiaGrad, recently known as Purefy is one of the best student loan lenders in the market. The process at CordiaGrad is very simple, it doesn’t require any hard or soft credit check to determine your eligibility and interest rates. This makes the process very quick and customer friendly. CordiaGrad is a good place to keep your loans. But when you look into the repayment term, you don’t find many options and the terms are very short when compared to other lenders. This may also be a deciding factor but this is not the only factor. So you must understand all the terminologies and factors associated with student loans before deciding the lender.