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Student Loans

Private Student Loans1

Our Private Student Loans are exclusively available to Kinecta members. As a not-for-profit, we reinvest our earnings to offer you lower rates and better terms. With flexible payment plans and a graduation reward, Kinecta gives you perks that are hard to find anywhere else.

Our easy application can be completed in 15 minutes, so why wait?

Private Student Loan Features

Co-Borrower Benefits

If you add a co-signer with a strong credit history, you may qualify for lower rates.

Rate Options

  • Exceptionally competitive variable rates
  • Flexible payment terms
  • Rate reduction when you choose automated payments
  • Rate reduction for on-time payment history

Repayment Options

Based on your credit review, you may qualify for up to three repayment plans, including a fully deferred option while actively enrolled.

We even offer an Immediate Repayment Plan that provides benefits that can reduce your cost over time.

It’s a Student Loan – Not Rocket Science

But it’s not underwater basket weaving, either. It’s important to realistically evaluate what you can afford. Making on-time payments could decrease your rates. However, late payments can hurt your credit score which impacts everything from your credit card rates to what you pay for your first mortgage.

The shorter your timeframe, the less you will pay in interest. But you may want to consider longer terms and lower monthly payments – choose the option that fits your lifestyle.

Still have questions? Call 866-272-0433

Example Payment Plan

This scenario illustrates how the choice of a different repayment plan affects the total estimated amount paid on a cosigned $10,000 loan with a 10- year repayment term. Because this Private Student Loan is a variable rate loan, we are showing both the lowest and highest rates available as of October 1, 2019 (subject to change).

Note: The rate on your loan will be determined based on your (and your cosigner’s) credit review and the loan options you choose. Not every applicant is eligible for every loan option.  This is only an example.

Expand features to compare products
  Immediate Repayment Deferred Payment
  Lowest Highest Lowest Highest
Amount Requested $10,000 $10,000 $10,000 $10,000
Current Interest Rate2 5.29% 10.27% 6.23% 11.68%
APR (Annual Percentage Rate)3 5.29% 10.27% 5.91% 10.63%
Origination Fee4 0.00%
Monthly Payment while in School5 $108.19 $135.34 $0.00 $0.00
Monthly Payment during Repayment6 $108.19 $135.34 $141.01 $209.99
Deferment Period (in months)7 3 3 51 51
Repayment Period (in months) 120 120 120 120
Finance Charge $2,982.80 $6,241.31 $6,922.12 $15,185.69
Estimated Total Amount Paid8 $12,982.80 $16,241.31 $16,922.12 $25,185.69

Education Loan Example Payment Plan Disclaimer

  1. Loan details. Actual details may vary from this estimate based on the final terms selected and interest rates in effect at the time the loan is approved. Terms described above are for the 2019-2020 academic year and are subject to change
  2. Interest rate.  Rates illustrated in this estimate in effect as of January 1, 2020 range from 5.29% to 11.68% based on credit review and repayment option. Interest rates are calculated using the LIBOR index plus a margin. The interest rate illustrated will increase/decrease if the LIBOR index increases/decreases during the life of the loan. The LIBOR Index for each calendar quarter equals the average of the one-month LIBOR rates published in The Wall Street Journal on the first business day of each of the three (3) calendar months immediately preceding each quarterly change date.
  3. The Annual Percentage Rate (APR)is the measure of what a loan will cost and takes into account the rate, fees, length of loan, and timing of all payments. The APR will increase/decrease if the LIBOR index increases/decreases.
  4. No Origination Fees will be charged.
  5. The Monthly Payment While in Schoolis the payment that will be made while a student is actively enrolled.

How to Apply

1. Become a Kinecta Member

  • Complete our online Kinecta membership application
  • Fund the $5 minimum deposit in your new savings account
  • Joint-owner and beneficiary information is optional

2. Become an Innovision Member

  • Complete the online Innovision Society membership application.
  • You will be provided Innovation member number upon opening
  • Joint Tenant section is optional

3. Submit Membership Applications

Submit both Kinecta and Innovision membership applications:

  • Online
  • At a branch
  • Mail to:
    Attn - Consumer Lending
    PO Box 10003
    Manhattan Beach, CA 90267

4. Get Your Financial Info Ready

You’ll need:

  • Personal info, including social security number
  • School information and expected graduation date
  • Employer information
  • Gross annual income
  • Personal reference

5. Complete Online Loan Application

Our streamlined private student loan application should only take 15 minutes to complete

6. Congratulations!

We will let you know by email and USPS mail when you have been approved.

*APR = Annual Percentage Rate is variable and subject to change.

Membership requirements apply and membership fees will be waived for actively enrolled students with school identification. Refer to the Agreements & Disclosure booklet for terms and conditions applicable to specific accounts.

Rates shown include a 0.25% discount for enrolling in automatic payments made from a Kinecta account and will discontinue if autopay is terminated.

1Private Student Loans. Also known as Private Education Loans under Regulation Z. Kinecta Federal Credit Union is an Equal Opportunity Lender. Private Student Loan Program is subject to change without notice. Subject to credit approval of borrower and/or co-borrower. Rates, loan amounts, and terms are based on standard underwriting factors.

To be eligible for this loan program, student must be a member of Kinecta Federal Credit Union. If the student is not currently a member, (s)he must provide a valid membership number before funds may be disbursed. Kinecta holds membership applications until loan is approved and accepted. Kinecta will mail membership ID and account disclosures.