LendKey Student Loan Refinance

LendKey Student Loan Refinance Review

LendKey Student Loan Refinance is a student loan refinance offering by LendKey, . Founded in 2008, LendKey offers student loan refinancing in 46 states (and Washington, DC).

LendKey Student Loan Refinance FAQ

What APRs does LendKey Student Loan Refinance 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 Student Loan Refinance offers variable rate APRs that range from 5.02% to 8.18%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 4.49% to 10.68% APR.

How much can you borrow via LendKey Student Loan Refinance?

Loan amounts start at $5,000 and go up to $300,000

Does LendKey Student Loan Refinance charge an origination fee?

No, LendKey Student Loan Refinance 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 Student Loan Refinance charge prepayment fees?

No, LendKey Student Loan Refinance 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 Student Loan Refinance offer?

LendKey Student Loan Refinance provides refinancing loans of 5 to 20 years.

It also offers borrowers unemployment protection. This means that if you lose your job through no fault of your own your loan payments may qualify for a temporary hold.

What type of borrowers will LendKey Student Loan Refinance consider?

LendKey Student Loan Refinance considers loans applications from:

• undergraduate students
• graduate students
• parents of students
• undergraduate degree holders
• graduate degree holders
• parents of graduates

What do you need to qualify for LendKey Student Loan Refinance?

To qualify for student loan refinancing with LendKey Student Loan Refinance, applicants need a minimum annual income of $24,000 or higher. LendKey Student Loan Refinance only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via LendKey Student Loan Refinance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by LendKey Student Loan Refinance.

To qualify, applicants may need to provide the following documentation:

• Proof of graduation
• Loan payoff statements
• Proof of income
• Proof of identity

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

LendKey Student Loan Refinance will typically provide a credit approval decision in less than an hour and fund the loan within 1 to 7 days.