LendKey Review for 2021

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LendKey Student Loans

Overall Rating


Bottom Line

LendKey offers both private student loans and student loan refinancing. LendKey is a fast and easy way to shop around for the best refinancing option by matching applicants with several credit unions and community banks, which can offer lower rates.


  • Private Loan Options
  • Refinancing Options
  • Competitive Interest Rates


  • Can Be Overwhelming
  • Cosigner Release is contingent to on time payments

Interest Rates




Refinance Options




Cosigner Release


Established in 2009 and headquartered in New York City, LendKey is an online student loan marketplace that connects consumers to over 300 credit unions and banks.

They offer a simple application process where customers can obtain and compare student loan refinancing offers without having to leave the site.

Offering more than just refinancing, LendKey offers up a plethora of educational resources related to everything you need to know before you refinance.

With dedicated campaigns like #refinanceresponsibly, borrowers can educate themselves on what refinancing is, who is right for, when the right time to refinance is and much more.

With everything from a refinance guide to a walk-through informational video, it’s easy to get all of your information on the topic in one place, so consumers can make informed decisions.

LendKey Student Loans and Student Loan Refinancing

Product Name LendKey Student Loan Refinancing
Min Loan Amount $5,000
Max Loan Amount $300,000
APR As low as 2.99% (variable) APR
Rate Type Variable and Fixed
Loan Terms 5, 7, 10, 15 or 20 years

LendKey offers both private student loans and student loan refinancing. LendKey is a fast and easy way to shop around for the best refinancing option by matching applicants with several credit unions and community banks, which can offer lower rates.

What sets them apart from most other student loan refinance marketplaces is that it services all refinanced loans in-house. This helps assure consumers that they will be dealing with the same company over the life of the loan.

This is great for prospective borrowers who want to compare multiple offers and select the one that benefits them the most.

LendKey allows (and even encourages) borrowers to refinance with a cosigner to get a better rate. They also allow for a cosigner release after you’ve made 12 to 36 on-time payments.

Because of LendKey’s focus on refinancing with a co-signer, it was one of the few refinancing companies that really works well for recent grads who have a limited credit history.

The site also offers a refinance calculator that lets consumers estimate their payment and the total amount of interests that will be paid over the life of the loan.

LendKey Discounts

Lendkey offers an interest rate discount that reduces the interest rate by 0.25% when the customer signs up for automatic payments.

LendKey Resources to Succeed

Other student loan-related resources, such as guides and articles, are available through their site. You can check out LendKey’s resource center dedicated to providing educational content all about student loans and refinancing.

They also have an “Ultimate Guide to Student Loan Refinancing” that makes it easy to understand the process and see if it’s right for you.

Not sure about what your rates would look like? They also have a free refi calculator on their site where you can check your rate in minutes, without affecting your credit score.

How To Apply with LendKey

The process for applying to LendKey is easy. Simply use LendKey’s quick pre-qualification form to find your APR offer. If you decide LendKey is right for you, accept your loan offer and complete the full application.

It’s worth noting that while there’s no hard credit pull involved with checking your rates, there will likely be a hard credit pull if you choose to move forward and apply.

You can apply for LendKey student loans in 3 easy steps:

  • Step 1: Check your personalized LendKey student loan rate in just 2 minutes.
  • Step 2: Complete application and upload documents.
  • Step 3: Accept loan terms and get funded.

The good news is that you can check your personalized student loan rate online with LendKey in 2 minutes. This way, you’ll know whether you can be approved for LendKey student loans before you complete the full application.

Therefore, LendKey will provide you with a personalized student loan rate estimate. The pre-approval is only a soft credit pull so there is no impact on your credit.

LendKey Pros

lendkey reviewWithout question, one of LendKey’s greatest advantages is the interest rates that start at 2.99% and the more forgiving underwriting criteria.

The fixed-rate loans with LendKey start at an impressive 5.35%.

LendKey offers 5, 10, 15 and 20-year loans, and each repayment length comes in either the fixed-rate or variable-rate variety.

LendKey will refinance student debt as small as $5,000 while the maximum amount that can be refinanced is $300,000.

As with any reputable private student loan lender, LendKey offers no origination fees with their loans, nor is there any prepayment penalty.


  • Interest Rates
  • Forgiving Underwriting Criteria
  • Refinance Option
  • No Origination Fees
  • No Prepayment Penalty

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