LendKey partners with hundreds of banks and credit unions. In turn, these financial institutions use LendKey’s digital platform to process the student loan and LendKey becomes the servicer. Working through LendKey you have access to two options - refinancing into a private loan or obtaining funding for a new private student loan. Because LendKey is introducing borrowers to numerous financial institutions, it allows the banks to compete for your business by offering the most competitive rates.
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LendKey Review: Connecting Student Loan Borrowers to Lenders
LendKey is a student loan company, but it operates differently than most loan servicers in the marketplace. LendKey connects potential borrowers to community banks and credit unions, to help borrowers find the best interest rates and student loan terms for their needs.
Min. Credit Score 660+
Loan Amount $5K-$150K
Loan Repayment 5-20 years
Written by:Sara Coleman
Summarized Rating
Loan Features4
Interest Rates and Fees3.5
Qualification Leniency4
Application Process2
Customer Support4.5
User Reviews4.4
This parameter considers loan term lengths, loan limits, and loan structure optionality (fixed and variable rate offerings). For each loan type offered, each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.
LendKey scores a near average 4.0 for Loan Features, which is reflective of standard term length offerings and highly flexible loan structure optionality (fixed vs. variable).
LendKey Pros
LendKey Cons
The questionnaires look different depending on the product you’re selecting. For refinancing, you will answer personal questions and input information related to income, employment and your education.
Frequently Asked Questions (FAQs)
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