Borrowers only need at least $5,000 in student loans to apply for U-fi's student loan refinancing. This minimum is lower than average, as many companies require around $10,000 worth of student loans prior to applying.
U-fi offers an online chat option right from their website. The feature is helpful, and representatives can provide immediate answers to borrowers' questions. This live chat feature is not common to the industry and can be especially useful when timeliness plays a huge factor.
U-fi offers the following cash rewards:
While most companies offer one calculator at best, U-fi offers the following three calculators:
While U-fi does offer a 25-year term option for variable interest, it does not offer a 25-year term for fixed interest; fixed interest only goes up to a 20-year term. Not only that, but people should also be aware that by choosing the 25-year term, they will have a higher interest rate than the other offered terms.
U-fi is a registered trademark of Nelnet, a well-established lender. Over the years, Nelnet has accumulated its fair share of controversy, having reportedly overcharged the U.S. Government by $1 billion in 2006. While the parent company appears to be in good standing now, this association can be a major drawback for some.
U-fi does not offer many helpful educational resources for students. While it offers a few articles, other companies often provide much more content. Some customers have commented that they feel U-fi's website is outdated.
The company does not have the lowest rates in the industry. Other companies like LendKey and Citizens Bank are lower in their rates. LendKey goes as low as 2.13% for variable APR and 3.25% for fixed APR, with Citizens Bank only slightly higher.
The first customer care rep I spoke with was very unprofessional. He was eating and drinking during the phone call and seemed as if he could care less about my questions. At times I felt like he was extremely bored or hated his job. I called again about a half hour later only to be on the phone with a female version of the first rep, she wasn't eating or drinking, but her enthusiasm and personality were just as bad. People complain about about customer care jobs going over seas well this is a prime example of why they do. My advice to U-Fi hire some reps from India.