Pentagon FCU Adds Private Student Loan Program to Education Loan Portfolio

According to PenFed's press release

The Private Student Loan is a line of credit that will allow members to borrow for educational expenses at a competitive, low rate. As with other student loans, payments will be deferred until the student graduates or separates from school. [...] What is unique about our Private Student Loan program is that conventional student loans require borrowers to re-apply every year -- or even every semester," says Vohra. "With PenFed's lending program, a student need only apply once

It's yet another perk for joining PenFed. They continue to offer competitive long-term CD rates that started in January. Also, they continue to have one of the best cash back credit card programs. Refer to those links to see how you can be eligible to join.