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in Private Student Loans from LendKey
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LendKey Private Student Loans Review
LendKey Private Student Loans is a private student loan offering by LendKey, a marketplace lender based in New York, NY. Founded in 2008, LendKey offers student loans in 45 states (and Washington, DC).
What rates does LendKey Private Student Loans offer for in-school private student loan?
LendKey Private Student Loans has a variable APR that ranges from 4.50% up to 9.47%.
It offers a fixed APR that ranges from 5.36% up to 9.07%.
Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.
How much can you borrow from LendKey Private Student Loans?
Available loan amounts may vary by applicant but LendKey Private Student Loans has a minimum loan amount of $7,500 and offers loans up to $250,000.
Does LendKey Private Student Loans charge an origination fee?
No, LendKey Private Student Loans 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 Private Student Loans charge prepayment fees?
No, LendKey Private Student Loans 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 Private Student Loans offer?
LendKey Private Student Loans provides repayment terms ranging from 5 to 20 years.
LendKey Private Student Loans offers borrowers unemployment protection. This means that if you lose your job -- or you have just finished school -- your loan payments are placed on a temporary hold.
What type of borrowers will LendKey Private Student Loans consider?
LendKey Private Student Loans 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 a loan with LendKey Private Student Loans?
Applicants with a credit score of at least 660 can apply for a loan via LendKey Private Student Loans. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.
Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.
LendKey Private Student Loans only considers borrowers who are employed.Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- South Carolina
- South Dakota
|Grace Period for Late Payment||6|
|No Origination Fee|
|No Prepayment Fee|
|Credit Score Range||
660 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Verification Documents Required||
|Funding Time Range (in days)||1 - 7|
|Good Student Rewards|
|Variable APR||4.5% - 9.47%|
|Loan Amount||$7.5K - $250K|
|Loan Term||5 - 20 years|
|Fixed APR||5.36% - 9.07%|
|Up to Cost of Attendance|