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Tuition Options Program (TOP) for Undergraduates and Graduates

If you don’t qualify for a Federal Education Loan or for enough financial aid to cover all your expenses, TOP may be for you.

To find out if your school is eligible, call 1-866-251-1061.

Benefits

• Upon approval, get funding in as few as five business days after we receive all required documents
• Undergraduate students have several repayment options. Graduate students must begin repayment 6 months after graduation or ceasing to be enrolled at least half-time in school
• Use the loan for past due education-related balances owed to your current school
• Get an interest rate reduction of 0.25% after setting up automatic electronic payments from a Navy Federal checking account or any account from other financial institutions¹
• Receive an additional interest rate reduction of 0.25% by remitting 36 months of timely payments and electing automatic payments¹
• Cosigners can be released from responsibility under certain conditions²

Qualification Requirements

• At least half-time enrollment in degree or certificate program at an approved school
• Employment history or self-employed for at least two years
• Proof of current income
• A satisfactory credit history of at least 21 months
• A U.S. citizen or permanent resident with at least 12 months residency at your current and immediately preceding addresses, and at least 2 years residency in the U.S.

Please note that on the application, the lender is RBS Citizens, N.A., a Member FDIC and Equal Opportunity Lender. Cosigner typically required. You may borrow a minimum of $1,500 and a maximum of $40,000 annually³. The Tuition Options Program rates are variable and subject to change monthly.

1. A 0.25% interest rate reduction is available for borrowers who elect to have monthly principal and interest payments transferred electronically from a savings or checking account. The interest rate reduction will begin when automatic principal and interest payments start, and will remain in effect as long as automatic payments continue without interruption. This reduced interest rate will return to contract rate if automatic payments are cancelled, rejected or returned for any reason. Upon request, borrowers are also entitled to an additional 0.25% interest rate reduction if (1) the first 36 payments of principal and interest are paid on time, and (2) at any time prior to the 36th on-time payment, the borrower who receives the monthly bill elects to have monthly principal and interest payments transferred electronically from a savings or checking account, and continues to make such automatic payments through the 36th payment. This reduced interest rate will not be returned to contract rate if, after receiving the benefit, the borrower discontinues automatic electronic payment. The lender and servicer reserve the right to modify, continue or discontinue borrower benefit programs (except cosigner release) at any time without notice. The reduced interest rate of 0.25% applies only to loans disbursed on or after July 14, 2006.

2. Cosigners will be eligible for cosigner release upon request if (1) the first 48 payments of principal and interest are paid on time, (2) at any time prior to the 48th on-time payment, the borrower who receives the monthly bill elects to have monthly principal and interest payments transferred electronically from a savings or checking account, and continues to make such automatic payments through the 48th payment, and (3) the borrower meets creditworthiness criteria at the time of the release of the cosigner. The cosigner release applies only to undergraduate, graduate, and continuing education loans disbursed on or after July 14, 2006.

3. Undergraduate and graduate borrowers may borrow annually up to the lesser of the cost of attendance or $30,000 ($40,000 for certain schools where it has been determined that the annual cost of attendance exceeds $30,000).