First Tech may be a good option for financially secure borrowers with good credit and who want to join the credit union (membership required to borrow, not to apply). The National Credit Union Administration recommends First Tech for financial services.
| Loan Limits | $5,000* – $500,000 |
| Fixed Rates | 8.60% – Undisclosed |
| Variable Rates | NA |
| Terms | 5, 7, 10 or 15 years |
| Min. Credit Score | Undisclosed |
| Apply | Link |
*Loan minimum depends on term limits; 7-year fixed rate loans have a $7,000 minimum, for example, and a 15-year loan has a $20,000 minimum.
Skip to: Rates & Fees | Eligibility Requirements | Repayment Options | Consumer Reviews & Complaints | FAQ
| Private student loans | ✓ |
| Private parent loans | |
| Federal student loans | ✓ |
| Federal Parent PLUS loans | ✓ (in parent’s name only) |
First Tech Refinance Rates & Fees
First Technology Federal Credit Union does not disclose its maximum APRs. Fixed rates start at 8.60%. Balloon loans and interest-only payments start at 11.40%.
| Term | Fixed Rate |
|---|---|
| 5 Year | 8.60% – Undisclosed |
| 7 Year | 8.75% – Undisclosed |
| 10 Year | 8.90% – Undisclosed |
| 15 Year | 9.25% – Undisclosed |
Additional information about First Tech refinance rates:
- Checking your rate with First Tech will not affect your credit score. They will conduct a soft, not hard, credit inquiry (learn the difference).
- With interest-only and balloon rates are no longer available.
| Year End | Low Fixed | Low Balloon/Interest-Only |
|---|---|---|
| 2025 | 8.60% | None |
| 2024 | 8.60% | 11.40% |
| 2023 | 8.60% | 11.40% |
| 2022 | 5.55% | 6.35% |
| 2021 | 2.45% | 6.35% |
Additional Fees
Beyond interest rates, there are a number of fees a refinance lender may charge up-front or during the loan servicing period. Below is a list of these fees that First Tech does or does not charge.
| Fee Type | Amount Charged |
|---|---|
| Application Fee | None |
| Loan Origination Fee | None |
| Disbursement Fee | Undisclosed |
| Prepayment Penalty | None |
| Late Payment Fee | Undisclosed |
| Returned Payment Fee | Undisclosed |
| Collection Fee | Undisclosed |
- Application fee – fee to apply for rates & approval.
- Loan origination fee – fee to create the new loan.
- Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.
- Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.
- Late payment fee – fee for making a late payment.
- Returned payment fee – fee for failed payments due to insufficient funds, also known as a “bounced check”.
- Collection fee – fee for collection activity on a defaulted debt.
Current Promotions & Offers
Borrowers receive a 0.25% interest rate reduction for enrolling in automatic payments.
First Tech Federal offers 10,000 automatic reward points on a new First Tech Choice Rewards World Mastercard.
First Tech also partners with over 900 organizations to offer their employees and members special benefits, such as discounts. Check the official First Tech web site for updates on deals and discounts for student loan refinancing and other services.
First Tech Refinance Eligibility Requirements
To qualify for refinancing with First Tech, all borrowers must meet the criteria below.
- Citizenship Requirement: U.S. citizenship or permanent residence.
- Income Requirement: proof of income required, no minimum disclosed.
- Credit Score Requirement: undisclosed, though credit scores below 689 are deemed “Poor” while credit ratings exceeding 730 are considered “Good”.
- Graduation Requirement: undisclosed.
- Location Requirement: within the United States.
Additional restrictions apply for specific individuals and loans. In order to refinance student loans, a borrower must be a member of First Tech.
First Tech Student Loan Repayment Options
Lenders vary greatly on the benefits and options provided to borrowers during the loan servicing period. Additionally, benefits may only be available on a case-by-case basis. First Tech offers some relief options.
Deferment & Forbearance
First Tech offers limited options for deferment or forbearance. Terms and conditions are vague.
| Condition | Coverage |
|---|---|
| Returning to grad school | None |
| Disability rehabilitation | Unspecified |
| Active military duty | None |
| Involuntary unemployment | Unspecified |
| Economic hardship | Unspecified |
| Natural Disaster | None |
| Temporary Hardship | Unspecified |
Additional Options
First Tech may offer other opportunities for relief or contract modification.
- Co-signer release is not an option with First Tech Federal.
- Death / disability discharge may be available in the unfortunate circumstance that a borrower passes away or suffers total permanent disability.
First Tech Reviews, Complaints & Lawsuits
Beyond our own findings, our team also collected the most genuinely insightful customer experiences we could find, including any instances of legal action against the company in which the details became public.
First Tech Online Reviews
There are few First Tech customer reviews readily available on public forums. We’ve included what material we found here for its value as unedited, uncensored, and unsolicited user experience. Note that these reviews are unverified, may include inaccuracies, and may provide outdated information (about rates, bonus offers, etc.).
“There good, but it matters on your refinance offer. For me personally, I chose them solely based on the fact I got a flat 2.1% interest rate for my loans payment.” – Snoo84504 on reddit, 8/25/2022
“Refinanced my student loan with this bank.. They called me. I called back 5 times, yes 5 and every time long wait times, transfered to wrong departments, hung up on totalling 2 hours on hold. Then 5th time the guy says here is the correct number to call. Of course “all circuits are busy.” What a nightmare!!” – Nicole Reyes (@enjcs88418) on WalletHub, 7/5/2022
“I refinanced with a First Tech Private Education loan and got a good fixed rate and have been impressed with their customer service.
My loan was previously with Citizens (Firstmark) and I would not recommend them based on my experience with their customer service and several lost checks.” – MrFenway on reddit, 10/3/2018
More (unfiltered) customer reviews of First Tech Federal are available at TrustPilot.com (4.8 out of 5) and ConsumerAffairs.com (1 out of 5).
First Tech Consumer Complaints
As consumer finance companies, student loan refinancing lenders fall under the jurisdiction of the Consumer Financial Protection Bureau (CFPB), a federal agency. As part of its mission, the CFPB allows consumers to log official complaints. These complaints are publicly available on the CFPB official website.
Since August 8, 2018, consumers have submitted 850 complaints about First Technology Federal Credit Union to the CFPB for an average of one (1) complaint every 3⅕ days; this is over 13 times higher than the average daily complaint rate among reviewed lenders.
In 2025, consumers filed 186 complaints agains First Tech Federal, which represents a 62.5% increase over an average year. First Tech received 154 complaints in 2024, equivalent to:
- 34.6% more complaints than First Tech receives in an average year.
- one (1) complaint for every $2.645 million of that year’s income before non-interest expenses.
- one (1) complant for every 11 employees.
The allegations made in these complaints are unverified, are not necessarily representative of all consumers’ experiences with First Tech, and may contain outdated information (about rates, bonus offers, etc.). Note that a lender with a large customer base is likely also to have a higher number of complaints when compared with smaller lenders.
Below we’ve included three (3) of the most recent complaints (as of this writing) in which the consumer consented to share their details about an issue related to loans, debt, or credit reporting.
Complaint 17370375
11/19/2025
New Carolina
“I HAD AN AUTO LOAN WITH FIRST TECH FCU # XXXX AND VEHICLE WAS STOLEN AND THE INSURANCE COMPANY THAT I HAD PAID FIRST TECH FCU ACCOUNT IN FULL BUT FIRST TECH FCU IS REPORTING LATE BUT THEY RECEIVED AND TOOK KNOWLEGMENT OF THE PAYMENT FROM INSURANCE COMPANY, THEREFORE NO LATE SHOULD HAVE BEEN POSTED TO MY CREDIT REPORT DUE TO THE FACT FIRST TECH FCU TO RESPONSIBLITY OF THE PAID ACCOUNT ONCE RECIEVED THE FUNDS FROM THE INSURANCE COMPANY CLAIM.”
Complaint 17189701
11/12/2025
Oregon
“This complaint concerns a continuing RESPA ( Regulation X ) servicing violation that was closed prematurely. I previously submitted CFPB Complaint # XXXX ( filed XX/XX/XXXX ), regarding First Tech Federal Credit Unions failure to acknowledge my written Notice of Error / Request for Information dated XX/XX/, received by the servicer on XX/XX/. Instead of providing the required written acknowledgment within five business days under 12 C.F.R. 1024.36 ( c ), First Tech merged this new violation into a prior closed complaint and marked it duplicate, without ever issuing an acknowledgment or a substantive response. This administrative merge does not satisfy their independent obligations under RESPA and Regulation X. The violation is ongoing. I am attaching my certified-mail receipts, my original XXXXE, and the CFPB closure notice showing the company marked this complaint as closed/duplicate.”
Complaint 16955884
10/31/2025
Massachusetts
“Dear XXXX XXXX and Leadership Team, When I reviewed my credit report recently with my loan officer, I was surprised to see late payments reported on my account for my auto loan unfairly marked late on XX/XX/year> when i had relayed the messaged to your staff and i was told that they would’ve submitted a ticket to remove this XXXX isolated late payment off my credit report…. Again, I believe these reports are inaccurate, and unfair. At the time, I never received proper billing statements, and I was also dealing with personal and financial challenges that may have caused confusion with my account. My only thought also is that my monthly statement did not get to me. In some cases, my bank account access was restricted due to suspected activity, which may have prevented payments from being applied correctly. I never intentionally missed payments, and I dispute the accuracy of these negative entries.”
For a full list of complaints made against First Tech in the CFPB’s Consumer Complaint Database, click here.
First Tech Lawsuits
First Tech has been the defendant in a few recent cases though none of these appear to involve debt or lending. Recently active cases, such as District of Oregon case 3:23-cv-00958, Siewell v. First Technology Federal Credit Union[1], are based on complaints from former employees.
Note that while this information is updated regularly, ongoing legal action is subject to change.
Frequently Asked Questions
These are the most common questions consumers have about student loan refinancing with First Tech.
- Is First Tech good for refinancing student loans?
First Tech may be a good option for financially secure borrowers with good credit and for First Tech Federal Credit Union members.
- Does First Tech have a minimum credit score requirement?
First Tech does not disclose a minimum credit score.
- Are First Tech loans federal?
First Tech loans are not federal. First Tech has no affiliation with the federal government or the U.S. Department of Education.
- Does First Tech charge a prepayment penalty?
There are no penalties for early payments or repaying a loan in full before its term is over.
- Does checking your rates with First Tech hurt your credit score?
For their prequalification process, First Tech performs a soft credit check, which will not hurt your credit score. If you proceed with an application, however, First Tech will perform a hard credit check that may affect your credit score.
- Is First Tech a bank?
First Tech is not a bank but a member-owned credit union that provides financial products and services to its members.
- Can I refinance a First Tech loan?
You can refinance a First Tech student loan or a student loan from another private lender. There is no limit to the number of times a borrower may refinance with First Tech. Note, however, that every new line of credit requires a hard credit check that may affect your FICO score.
- Can I refinance just some of my loans with First Tech?
Yes, you can refinance some, all, or just one of your qualifying student loans with First Tech. You may choose to refinance your private loans only or refinance private and federal loans together.
- Can I refinance loans that have already been refinanced?
Yes, you can refinance loans as many times as you want with First Tech. Note that each time you refinance, you will have to submit a new application; every application requires a hard credit check that may affect your credit score.
- Can my spouse and I refinance our loans together with First Tech?
First Tech will only refinance loans for principal borrowers.
- How long does it take to refinance with First Tech?
First Tech does not disclose a timeline but does offer a 90-day period with no payments after loan disbursement.
- Does First Tech offer a grace period?
No, First Tech does not offer a grace period, but this lender does offer no payments for 90 days after loan disbursement.
- Can I get any special rates or discounts with First Tech?
First Tech does advertise some special offers. Check the official First Tech web site for updates on deals and discounts for student loan refinancing and other services.
- What happens if I file for bankruptcy?
First Tech does not specify a course of action in response to bankruptcy; it is common practice among lenders to declare the entire loan amount due immediately upon a borrower’s declaration of bankruptcy.
- Does First Tech partner with any major student refinance lender marketplaces?
First Tech does not appear to partner with any major multilender marketplaces.
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