Last Updated: 02/11/2026
SuperMoney User Recommendation Score +6
Mostly recommended17 total votes
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Highlights
Community Rating
Mostly recommended
Fixed APR
3.99% - 12.61%
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Variable APR
5.98% - 13.74%
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Amount Range
$5,000 - $250,000
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Number of Reviews
LendKey Private Student Loans Review
LendKey Private Student Loans is offered by LendKey, a marketplace lending platform founded in 2008 and based in New York, NY. LendKey Private Student Loans are available in 45 states and Washington, DC.
LendKey Private Student Loans FAQ
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 5.98% up to 13.74% .
It offers a fixed APR that ranges from 3.99% up to 12.61% .
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 $5K and offers loans up to $250K.
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:
What do you need to qualify for LendKey Private Student Loans?
Applicants with a credit score of at least 660 and up to 850 may be eligible for LendKey Private Student Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher. LendKey Private Student Loans does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by LendKey Private Student Loans.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of citizenship or residence permit
Is LendKey a legit company?
LendKey was founded in 2008, it is a well-established company that has been in business for 18 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.
LendKey Private Student Loans Disclosure: "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."
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from LendKey Private Student Loans
Message from our editor
What We Love About LendKey Student Loans
LendKey offers student loans at competitive interest rates and many other great features. Its key to success lies in its partnerships with more than 300 credit unions, community banks, and other financial institutions. This community-focused network allows LendKey to offer more personalized customer service.
LendKey is also not quite as strict as other student loan providers when it comes to credit and income. Other eligibility requirements will differ depending on the community lender you choose to work with through LendKey, but are generally more lenient than other providers. This means LendKey can offer high-quality loans with low-interest rates to a variety of borrowers.
What Can LendKey Do Better?
LendKey does have a minimum income requirement for their borrowers. They do not accept any applications from those below the minimum income threshold without a co-signer, so it may be rather difficult for some applicants to get a loan. The same restrictions apply to those who are below the minimum credit score threshold.
Before you apply, you’ll want to be sure that you meet or exceed both of these requirements to increase your chances of being offered a loan.
LendKey’s Backstory
LendKey was founded in 2007 as Fynanz and is based in New York City. The company originally functioned as a peer-to-peer (P2P) loan platform for student loans. In 2013, however, it rebranded as LendKey and replaced the P2P platform with a marketplace for credit unions and community banks.
LendKey also offers great customer service. With community banks and credit unions as their partners, you can count on getting more personalized service than you would with a big national lender. LendKey’s service maintains a 97% satisfaction rating among borrowers. The company has a stellar reputation and an A+ rating with the Better Business Bureau.
The Verdict
If you’re looking for a customer-driven lender and competitive interest rates, you’re likely to find it with LendKey. Qualifying isn’t easy for everyone, but LendKey’s cosigner release option makes it easier to convince someone to cosign and improve your chances of getting a low rate.
As you’re looking at your options, consider applying with one of LendKey’s community lenders. Its no-strings-attached approach makes it a perfect place to start your search for the best loan.
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users mostly recommend this product, giving it a user recommendation score of +6, or 3.1 on a 5-point rating scale.
+6
-1000+100
No one recommends
Everyone recommends
LendKey Private Student Loans Community Reviews
Would you recommend LendKey Private Student Loans to your friends?
PP
Presley P.
Mar 6, 2022
May or may not recommend
Waiting time too long, interest rates too high. There are better options, Do not waste your time
Anthony C.
Mar 15, 2021
May or may not recommend
LendKey has clear terms of use on the student loans than most of the other private banks. Their variable APR rates are not as high and are on a fixed basis. If I had to further my education, I would go with Lendkey for simpler repayment terms and customer service.
ST
Samuel T.
Jan 14, 2021
May or may not recommend
I'm an International student in the University of California. Studying here hasn't been as easy as I thought, especially when my country's currency devalues everyday to Dollar. A friend of mind introduce this student loan scheme to me. At first, I had no interest in it because I was afraid to have more debt on my nerves. However, I was able to take my time to review this offer. And ...Show More
KL
Keats L.
Oct 27, 2020
May or may not recommend
All through my undergraduate studies, I found it difficult funding my way through school. This was despite the fact that I was academically outstanding. I had no scholarship opportunity to my rescue. Glad that lendkey came through and offered me loans to complete my education. The repayment plan was excellent and I incurred no charge on prepayment fees
Bella M.
Oct 25, 2020
May or may not recommend
LendKey is about the same as Sallie Mae in terms of having outrageous interest rates. I would recommend trying to find better rates somewhere else. If you are running out of options though, you have a good chance of getting approved.
PH
Patrick H.
Oct 22, 2020
May or may not recommend
I needed a student really bad and I consulted Lendkey student Loan.
Trust me, they are fantastic. From my experience as an applicant and beneficiary, applicant do not need to pay any fee for origination, application, pre-payment penalty or late fees. They also give opportunity for discounts on interest rate. Students are eligible for a 0.25 % discount when they have a prior loan with the company, and also a ...Show More
SO
Stanley O.
Oct 4, 2020
May or may not recommend
The processing is ridiculous and frustrating. Also, the maximum amount you can get is $125,000 which in my case wasn’t what I projected.
But should it pull through, it’s amazing, it helps you save a lot in interest. They also match you with a reputable lender making your research process easier.
U
Anonymous
Jul 10, 2019
May or may not recommend
My husband started his current job last March. Unlike other companies we've gotten loans through, LendKey refuses to use his current salary (as evidenced in his two most recent paystubs and his original offer letter) and instead insists on assuming his income is the same as his 2018 reported income, which is significantly lower because he spent the first 2 months of the year at a much lower paying job. ...Show More
U
Anonymous
Oct 3, 2018
May or may not recommend
haven't used the site yet, but am researching and considering utilizing this service within the next few weeks.
DH
Drew H.
Sep 13, 2018
May or may not recommend
Pretty fantastic customer service, very helpful and treated me like a person. Would recommend.
Mary R.
Jan 24, 2018
May or may not recommend
My sons have been able to get student loans from LendKey with me cosigning, but I am frustrated with how long the process takes. Also, they do not notify you via email when they need more documentation when it says right on the notice if you happen to check online, that you should refer to the email they sent (I have yet to find any from them) about the documents ...Show More
U
Anonymous
Oct 17, 2017
May or may not recommend
Stay AWAY from these incompetent, disorganized buffoons ! SAVE YOURSELF THE HUSTLE ! Sallie Mae my lovely Sallie May! ALWAYS SENDS THE BILL PROMPTLY AHEAD OF TIME,* WITH AN ENVELOPE INSIDE * All I got to do is put in the check and a stamp on it. These MORONS they want you to WASTE YOUR TIME ( TO SAVE THEIR PAPER ) to remember your password, to get in ...Show More
U
Anonymous
Jul 7, 2017
May or may not recommend
It was super easy to refinance our student loans through LendKey. We're saving a ton of money and can actually see the light at the end of the payment tunnel.
AW
Adorna W.
Jun 6, 2017
May or may not recommend
LendKey uses predatory lending practices. I've found them to be unwilling to assist any requests - such as accepting an non-interest inclusive loan payoff, and changing my payment due date! Customer service is less than stellar and many times it takes forever to get a manager on the line. If I could give a rating of less than a zero - I would.
Angela S.
Jan 31, 2017
May or may not recommend
LendKey has false advertisements: they get all of your personal information from you (which takes a lot of time as you have to upload and scan many documents). They make it seem like you will definitely be able to get a loan (especially if you have good credit). Then they tell you what they require (which if you are self-employed is more difficult to get a loan even if you ...Show More
U
Anonymous
Aug 13, 2015
May or may not recommend
I went to this company to get out a loan to pay off my student loans, which are on variable interest rates--they are private and crappy! LendKey helped me save a lot in interest. So much that I might actually pay off the loan before the birth of my grandchildren. LendKey knows what they are talking about and doing!
U
Anonymous
Aug 3, 2015
May or may not recommend
If you need a student loan, LendKey will hook you up with a nonprofit lender in your area. There are no origination fees plus there are provisions to help borrowers who run into financial trouble. Really great operation.
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