LendKey Student Loan Refinancing Review

In this LendKey student loan refinancing review, you'll learn everything you need to know about LendKey and student loan refinancing. What is LendKey? LendKey is a student loan marketplace that connects borrowers to credit unions and community banks to refinance student loans.

In this review, we will discuss:

• LendKey student loan refinancing: Rating
• LendKey student loan refinancing: Pros and Cons
• LendKey student loan refinancing: Overview
• LendKey student loan refinancing: Details
• Is LendKey student loan refinancing right for you?

LendKey student loan refinancing: Rating

Best For: LendKey is best for borrowers who want to work with a credit union or community bank rather than an online lender or traditional bank.

Overview

Variable APR:

5.53% - 12.18%

Fixed APR:

5.49% - 9.75%

Minimum Credit Score:

680

Minimum Income:

$24,000

Fees:

None

Minimum Loan Amount:

$5,000

Details

Eligible Loans:

Private & Federal

Eligible Degrees:

Undergraduate & Graduate

Loan Terms:

5, 7, 10, 15, 20 years

Borrower Residency:

All states, except ME, ND, NV, RI, WV

Hardship Deferment:

Yes

Co-signer Option:

Yes

LendKey student loan refinancing: Pros and Cons

Pros:

• Compare rates from multiple credit unions and community banks
• Get forbearance for up to 18 months
• Ability to release cosigner 

Cons:

• Not available in certain states such as ME, NV, ND, RI and WV
• No academic deferment or military deferment
• Does not refinance student loans for borrowers with no degree

LendKey student loan refinancing: Overview

While not a direct lender, LendKey compares offers from community banks and credit unions to help you refinance student loans.

LendKey reviews your information and then finds community banks and credit unions that match your financial and geographic profile. LendKey offers both variable and fixed interest rates with repayment terms ranging from 5 to 20 years.

Advantages of Refinancing With LendKey

Here is what we like about LendKey student loan refinancing:

• Compare rates from multiple credit unions and community banks
• Pause your student loan payments for up to 18 months
• Low fixed and variable interest rates

Drawbacks of Refinancing With LendKey

LendKey can improve in these key areas:

• Offer student loan refinancing in all 50 states
• Refinance student loans for borrowers without a degree.
• Options for academic and military deferment

LendKey student loan refinancing review: Details

How to refinance student loans with Lendkey:

You can check your new interest for free in two minutes with no impact to your credit score. If you like your interest rate, you can apply online to refinance your student loans with LendKey. The application takes about 10-15 minutes to complete.

Is LendKey student loan refinancing right for you?

LendKey student loan refinancing may be right for you if you:

• Have a credit score of at least 660
• Generate stable and recurring monthly income of at least $24,000
• Want to refinance with a credit union or community bank

LendKey caters to borrowers with good to strong credit. The minimum income for a LendKey borrower is $24,000 and the minimum credit score is 660. The average LendKey customer earns enough income to pay student loans, other debt obligations and monthly living expenses.

When you apply through LendKey, your student loans will be refinanced by one of its partner banks or credit unions. You will also get to become a member of the credit union or bank that funds your student loans. Community banks and credit unions are known for high-touch customer service, low rates and personalized service.

While LendKey is not available to borrowers in all 50 states, LendKey offers one of the longest unemployment protection periods of all student loan refinance companies. LendKey enables you to pause payments for up to 18 months if you become unemployed. 

Top Picks For Student Loan Refinancing

November 2024

Advertiser Disclosure

Fixed APR ?APR, or Annual Percentage Rate, is the price you pay to borrow money. Fixed APR means that your interest rate will always stay the same. Even if interest rates change, your interest rate or monthly payment will not. Fixed APR includes a 0.25% discount when you enroll in autopay.

Variable APR ?APR, or Annual Percentage Rate, is the price you pay to borrow money. Variable APR means that your interest rate can fluctuate over time, which can increase or decrease your monthly student loan payment. Typically, a variable-rate loan has a lower introductory rate than a fixed-loan rate loan. Variable APR includes a 0.25% discount when you enroll in autopay.

APR

4.49% - 9.99%

5.99% - 9.99%

4.49% - 9.99%

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on SoFi's website

Overview

Variable APR:

5.99% - 9.99%

Fixed APR:

4.49% - 9.99%

Minimum Credit Score:

650

Minimum Income:

None

Fees:

None

Minimum Loan Amount:

$5,000 ($10,000 in CA)

Details

Eligible Loans:

Private & Federal

Eligible Degrees:

Undergraduate & Graduate

Loan Terms:

5, 7, 10, 15, 20 years

Borrower Residency:

All states

Hardship Deferment:

Yes

Co-signer Option:

Yes

Review:

SoFi Student Loan Refinancing Review

3.95% - 9.74%

5.89% - 9.74%

3.95% - 9.74%

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View Details

on Earnest's website

Overview

Variable APR:

5.89% - 9.74%

Fixed APR:

3.95% - 9.74%

Minimum Credit Score:

650

Minimum Income:

None

Fees:

None

Minimum Loan Amount:

$5,000

Details

Eligible Loans:

Private & Federal

Eligible Degrees:

Undergraduate & Graduate

Loan Terms:

5-20 years

Borrower Residency:

All States except NV

Hardship Deferment:

Yes

Co-signer Option:

No

Review:

Earnest Student Loan Refinancing Review

5.19% - 9.74%

5.99% - 9.74%

5.19% - 9.74%

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on NaviRefi's website

Overview

Variable APR:

5.99% - 9.74%

Fixed APR:

5.19% - 9.74%

Minimum Credit Score:

680

Minimum Income:

None

Fees:

None

Minimum Loan Amount:

$5,001 ($10,001 in CA)

Details

Eligible Loans:

Private & Federal

Eligible Degrees:

Undergraduate & Graduate

Loan Terms:

5-20 years

Borrower Residency:

All States except NV

Hardship Deferment:

Yes

Co-signer Option:

No

Review:

NaviRefi Student Loan Refinancing Review

4.88% - 8.44%

4.86% - 8.49%

4.86% - 8.49%

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on ELFI's website

Overview

Variable APR:

4.86% - 8.49%

Fixed APR:

4.88% - 8.44%

Minimum Credit Score:

680

Minimum Income:

$35,000

Fees:

None

Minimum Loan Amount:

$10,000

Details

Eligible Loans:

Private & Federal

Eligible Degrees:

Undergraduate & Graduate

Loan Terms:

5, 7, 10, 15, 20 years

Borrower Residency:

All States

Hardship Deferment:

Yes

Co-signer Option:

Yes

Review:

ELFI Student Loan Refinancing Review

4.84% - 9.99%

5.89% - 9.99%

4.84% - 9.99%

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on Splash's website

Overview

Variable APR:

5.89% - 9.99%

Fixed APR:

4.84% - 9.99%

Minimum Credit Score:

640

Minimum Income:

None

Fees:

None

Minimum Loan Amount:

$5,000

Details

Eligible Loans:

Private & Federal

Eligible Degrees:

Undergraduate & Graduate

Loan Terms:

5 – 20 years

Borrower Residency:

All states

Hardship Deferment:

Varies

Co-signer Option:

No

Review:

Splash Financial Student Loan Refinancing Review

5.89% - 10.98%

7.02% - 12.44%

5.89% - 12.44%

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on Citizens' website

Overview

Variable APR:

7.02% - 12.44%

Fixed APR:

5.89% - 10.98%

Minimum Credit Score:

Not disclosed

Minimum Income:

$24,000

Fees:

No prepayment or origination fees

Minimum Loan Amount:

$10,000

Details

Eligible Loans:

Private & Federal

Eligible Degrees:

Undergraduate & Graduate

Loan Terms:

5, 7, 10, 15, 20 years

Borrower Residency:

All states

Hardship Deferment:

Yes

Co-signer Option:

Yes

Review:

Citizens Student Loan Refinancing Review

4.99% - 8.90%

5.29% - 9.20%

4.99% - 9.20%

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on Laurel Road's website

Overview

Variable APR:

5.29% - 9.20%

Fixed APR:

4.99% - 8.90%

Minimum Credit Score:

680

Minimum Income:

None

Fees:

None

Minimum Loan Amount:

$5,000

Details

Eligible Loans:

Private & Federal

Eligible Degrees:

Undergraduate & Graduate

Loan Terms:

5, 7, 10, 15, 20 years

Borrower Residency:

All States

Hardship Deferment:

Yes

Co-signer Option:

Yes

Review:

Laurel Road Student Loan Refinancing Review

5.49% - 9.75%

5.53% - 12.18%

5.49% - 12.18%

Get My Rate

View Details

on LendKey's website

Overview

Variable APR:

5.53% - 12.18%

Fixed APR:

5.49% - 9.75%

Minimum Credit Score:

680

Minimum Income:

$24,000

Fees:

None

Minimum Loan Amount:

$5,000

Details

Eligible Loans:

Private & Federal

Eligible Degrees:

Undergraduate & Graduate

Loan Terms:

5, 7, 10, 15, 20 years

Borrower Residency:

All states, except ME, ND, NV, RI, WV

Hardship Deferment:

Yes

Co-signer Option:

Yes

Review:

LendKey Student Loan Refinancing Review

Checking Your Rate Doesn't Affect Your Credit Score

Disclosures: SoFi | Earnest | NaviRefi | ELFI | Splash Financial | Citizens | Laurel Road | LendKey