LendKey is a student loans lender based in New York, NY. It was founded in 2008 and offers student loan refinancing in 46 states (and Washington, DC).

What APRs does LendKey offer on its student refinancing loans?

The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate. 

LendKey offers variable rate APRs that range from 2.56% to 7.74%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 3.15% to 8.12% APR.

Does LendKey charge an origination fee?

No, LendKey does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does LendKey charge prepayment fees?

No, LendKey does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does LendKey offer?

LendKey provides refinancing loans of 5 to 20 years.

It also offers borrowers unemployment protection. This means that if you lose your job your loan payments may qualify for a temporary hold.

What type of borrowers will LendKey consider?

LendKey considers loans applications from:

  • undergraduate students
  • graduate students
  • parents of students

What do you need to qualify for a LendKeystudent loan refinance?

Applicants with a credit score of at least 660 can apply for a loan via LendKey. Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.

Active duty servicemembers and their covered dependents are eligible to apply for a loan via LendKey. Their rates fall within the limits of The Military Lending Act.

Only U.S. citizens and permanent residents can apply for a loan.

What is the estimated funding time for a student loan refinance via LendKey?

LendKey will typically fund loans within 1 and 7 days of approval.

How does LendKey describe itself?

LendKey offers 2-Minute rate check with no impact on your credit score; 275+ not-for-profit and community lenders to choose from mean higher chances for approval and lower rates. * Available for private and federal, undergraduate and grad school student loans, Interest only repayment option available for up to first four years of repayment, Largest unemployment protection period in the market at 18 months, No origination fees or prepayment penalties, Cosigner release available after 12 monthly payments, No handoffs ever, you stay with LendKey from application to final payment, 97% borrower satisfaction shows our best in class customer service.

  • Loan Term (Years)
    5 - 20
  • Min Loan
  • Institution Type
    Marketplace Lending Platform
  • Cosigner Optional
  • Credit Score Range
    660 - 850
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Joint Loan Applications Accepted
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Undergraduate Students
  • Graduate Students
  • Parents of Dependent
  • Grace Period / Deferred Interest
  • No Origination Fee
  • No Prepayment Fee
  • Funding Time Range (in days)
    1 - 7
  • Unemployment Protection
  • Variable APR
    2.56% - 7.74%
  • Fixed APR
    3.15% - 8.12%
"The APR for variable rate loans may increase after loan consummation. Additionally, the APR displayed may include a 0.25% reduction for enrolling in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due. This 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 forbearance. As a result, any increase will take the form of higher payments."
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