STUDENT LOAN
Lendkey: Best for getting matched with a community lender
4.0
Bankrate Rating = 4.0/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
An annual percentage rate (APR) represents the interest and fees you'll pay on top of your initial amount every month. A fixed rate will not change during your repayment period.
The range of loan amounts that a lender will service. The maximum value is the largest amount a lender will give although this amount may not be available to borrowers who don’t have good or excellent credit. Amount ranges may vary for non-loan products. Term refers to the amount of time you have to repay the loan.
Check rate with Credible
This lender is registered in states where it does business and was vetted by the Bankrate Editorial team.
LendKey connects borrowers to loans from community banks. Even after borrowers are approved and loans are funded, LendKey will continue to service the loan through it being paid off, so there's no handoff to worry about.
- Be a U.S. citizen or permanent resident
- Have graduated with at least an associate degree
- Late fee
- Insufficient funds fee
Pros
- Repayment terms of 5 to 20 years
- One application to compare multiple lenders
- No origination fees
Cons
- Loan details and fees depend on the lender you're matched with
- Associate degree or higher required
- Forbearance options vary by lender
Terms and Conditions Apply
Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile, and it may be based on your credit score, level of degree earned, and the availability and credit score of a cosigner applicant. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Variable rates may increase after consummation. Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if your meet the lender's eligibility criteria. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
AutoPay Discount & Lowest Interest Rate
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 5 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.
As of 06/13/2024 student loan refinancing rates range from 5.24% to 9.60% Fixed APR with AutoPay.