Written by
Joe Chappius
Company name
LendKey
Website
https://www.lendkey.com
Phone
1-888-549-9050
customer.care@lendkey.com
Address
104 W 27th St, New York, NY 10001
LendKey Student Loans Review: Credit Rates from 4.49% APR with No Fees
— Review updated Aug 2025
LendKey stands out as a solid student loan marketplace with competitive rates starting at 4.49% fixed and no origination fees.
Their partnership with credit unions keeps costs lower than many competitors, though their forbearance options are somewhat limited.
With a straightforward application process, they're a reliable choice for student loan financing.
That being said, our tests reveal an inconsistent customer service, which impacts our overall rating of this loan provider.
LendKey At glance
Read reviews (10)Pros & Cons
Competitive Interest Rates: Starting at 4.49% fixed APR and 5.02% variable APR with AutoPay.
No Origination or Application Fees: Unlike many lenders who charge origination fees that can add significant costs to student loans, LendKey doesn't charge any application or origination fees.
Credit Union Partnership Model: LendKey's unique business model connects borrowers with community banks and credit unions rather than large financial institutions.
Flexible Repayment Options: With loan terms ranging from 5 to 20 years, borrowers have flexibility to choose a repayment plan that fits their financial situation.
Forbearance options: Of up to 18 months on longer-term loans, providing safety nets during financial hardship.
Borrower-Friendly Policies: No early payment penalties, cosigner release options after 12 months of on-time payments, and the ability to finance up to 100% of school-certified costs for education loans.
Limited Customer Support Accessibility: Sometimes it's impossible to reach customer support, which is a significant drawback for a financial services provider.
Potentially Lengthy Approval Process: Loan acceptance can take up to 30 days, which is longer than some competitors who offer quicker approval and funding.
Restrictive Eligibility Requirements: LendKey has fairly stringent qualification criteria, including a minimum credit score of 660, minimum annual income of $24,000, and debt-to-income ratio requirements.
Details
LendKey Personal Loan
Terms & fees
Loan amount$5,000 - $300,000
Term5 years - 20 years
Annual interest rate4.49% - 10.71%
Origination fee$0
Monthly fees$0
Requirements
Minimum age18
Minimum income$2,000
National bank requiredNo
National phone number requiredYes
Citizenship requiredYes
Electronic identificationYes
Features
Cosigner possibleNo
Revocation periodNo
Accept bad credit historyYes
Weekend payoutNo
Loan extensionsYes
Early paybackYes
Payment within 24 hoursNo
Loan brokerYes
Interest free loanNo
Additional fields
Payment hours9am-8pm
High approval rateNo
Recommended companyYes
LendKey is a student loan platform that connects borrowers with multiple lenders in the form of banks and credit unions.
They have low APRs starting at 4.49% and there are no fees to apply. LendKey's forbearance terms are typically also longer than most other lenders.
How We Rate LendKey
At Financer, all lenders go through a thorough research and review process. Here's how we rate LendKey:
| Category | Rating |
|---|---|
| Affordability | ⭐⭐⭐ |
| Application process | ⭐⭐⭐⭐ |
| Loan terms | ⭐⭐⭐⭐ |
| Transparency | ⭐⭐⭐⭐ |
| Customer support | ⭐⭐⭐⭐ |
| Overall | ⭐⭐⭐⭐ |
Here's what we'll cover in this review:
Want to skip the details? Jump to our final verdict here.
LendKey Overview
LendKey was founded in 2009 as a lending service platform. The company simplifies the borrowing process by connecting borrowers with multiple banks and credit unions through a straightforward platform.
LendKey prides itself on offering a seamless online lending service.
Here's a quick summary of LendKey:
| Overview | Features |
|---|---|
| Loan type: | Student loans |
| Loan amount: | Up to $300,000 |
| Loan term: | Up to 20 years |
| APR: | From 4.49% |
| Min. credit score: | 660 |
| Monthly fees: | None |
| Requirements: | U.S. citizen or permanent residentMin. credit score of 660Min. income of $24,000 a yearMinimum DTI of 33% |
LendKey values privacy and does not share personal information with third parties. With over 99,000 customers and counting, LendKey has serviced more than $2 billion in loans to date.
The main LendKey offerings are new and refinanced private student loans and home improvement loans.
Get your loan offerProducts Offered
LendKey offers the following:
Private student loans
Student loan refinancing
Home improvement loans
Private Student Loans
With private student loans from LendKey, you could get up to 100% of your school-certified cost of attendance. You don't need a cosigner although you may get better rates when adding a cosigner to your loan.
Rates are as low as 4.49% fixed APR or 5.02% variable APR with AutoPay. There are no application fees with private student loans.
It is recommended that you apply at least one month prior to when your funds are due. You may get conditional approval quickly, but it's not a final approval yet, as you may need to provide proof of income and identification.
Check Your RateRefinancing Student Loans
Refinancing student loans from LendKey offers rates as low as 4.49% fixed APR with AutoPay. Loan rates are available from five to 20 years.
There are no origination fees on student loan refinancing.
The minimum loan you can borrow is $5,000 unless you are a resident of AZ ($10,000), CT ($15,000), or MA ($6,000).
Check Your RateHome Improvement Loans
LendKey also offers loans to contractors and homeowners, at low rates. These loans are provided by community lenders like credit unions and community banks, with affordable repayment options.
All funds for home improvement loans are paid directly to the contractors.
How LendKey Works
LendKey partners with hundreds of banks and non-profit credit unions to help borrowers achieve their dreams. Loans are funded by these partners and this helps to keep interest rates lower.
Loan Requirements
When applying for a LendKey student loan, borrowers need to provide information on the school they are attending, the loan amount required, the academic period they are applying for, and their Social Security number.
To qualify for student loan refinancing, you need to:
Be a U.S. citizen or permanent resident
Have an associate degree or higher from an approved institution
Have a minimum credit score of 660
Rates & Fees
Your credit score determines your APR; therefore, if you are young and do not have a great credit score yet, you may pay a higher interest rate. They do offer a consigning option, which will reduce your interest rate.
These student loans are credit-based so your APR will be determined by your credit history. Please note that some lenders may charge late fees.
Check Your RatePayment Terms
No academic or military deferment.
Forbearance is available on 5, 7- and 10-year loans, but only for up to 4 months at a time, and also not longer than 12 months in total.
You can postpone 15- and 20-year loans for up to 6 months at a time, but only for a total of 18 months.
Co-signers can be released after 12 months providing all payments have been made on time.
Loan agreements do not guarantee death or disability discharge.
How To Apply for a LendKey Student Loan
Sign up with LendKey
Start by navigating to LendKey.com and clicking on 'Check your rate'.
Fill in your details
Complete your personal details to see your loan offers.
Review your offers
See your loan offers in your dashboard.
How Financer Rates LendKey
LendKey is a trusted online lending platform with almost 100,000 customers. They have hundreds of partners in the form of credit unions.
With low rates and a smooth, straightforward process, LendKey has built a strong, trustworthy reputation. LendKey focuses on private student loans and home improvement loans.
Website
The LendKey website is streamlined. They have created a simple process that connects borrowers to hundreds of community banks and credit unions. Because of their automated online lending system, they can offer lower loan rates.
LendKey offers a simple application process through its website. Once accepted, you can access your LendKey account information through the online login.
Customer Service
Although they are an online company LendKey offers customer service support calls between 9 am – 8 pm EST Monday to Friday. They are also contactable through email at customer.care@lendkey.com.
Does Financer Recommend LendKey?
Yes. LendKey is a proven, trusted lending service that connects borrowers with banks and credit unions.
If you have exhausted all of your college funds, scholarship options, and federal student aid, then LendKey is an optimal lending platform to consider.
Read more LendKey reviews below or add your own.
LendKey FAQs
How much can I borrow?
You can borrow up to 100% of your attendance cost. This may include textbooks, room and board, tuition, and other related expenses.
Do I need a cosigner?
Not necessarily. However, it may improve your chances of getting approved. Private student loans are credit-based so if you have poor credit or no credit history at all, you can apply with a cosigner to meet the loan requirements. Applying with a cosigner may also help you qualify for better loan terms.
When should I apply?
It is recommended that you apply for a student loan at least one month before your fees are due. It generally takes less than 30 days for a loan to be approved but in some cases, it can take a few weeks.
Is LendKey a bank?
No, LendKey is not a lender nor a bank. They assist banks and credit unions in successful online lending.
Do I need to work with a contractor to apply for finanancing?
Yes, because all funds are paid directly to the contractor.
When do contractors get paid?
Contractors submit a Disbursement Request that will be attached to your online application. LendKey supports multiple disbursements.
LendKey Alternatives
Here's a list of alternatives to LendKey and how they compare:
| Lender | Reviews | Loan Amount | APR | Max. Loan Term |
|---|---|---|---|---|
| Ascent | View | Up to $200,000 | 5.99-35.99% | Up to 15 years |
| Your Premier Lending | View | Up to $20,000 | 5.99-35.99% | Up to 7 years |
Our Commitment to Transparency
At Financer.com, we're committed to helping you with your finances. All our content abides by our Editorial Guidelines. We are open about how we review products and services in our Review Process and how we make money in our Advertiser Disclosure.
Latest Reviews
7
7fb805656cbcb1
Upsides
Easy and efficient company. I got a loan very quickly and easily with LendKey. They are helpful and explained each aspect of the process and...
Downsides
A bit on the pricey side.
F
F6b4996567811d
Upsides
Great company and service. Competitive APRs and repayment terms. The process was easy and straightforward. LendKey allowed me to get a lower rate through co-sign...
Downsides
Thank you LendKey!
K
Kylebross3455
Upsides
the facilities are great for everyone
Downsides
make it cheaper please
J
Jackman0653
Upsides
easy to use software
Downsides
should be free
B
BDR65bdr
Upsides
Downsides
M
Mirage_ccm
Upsides
Great and competitive APRs
Downsides
it might take some time to find out if your application was successful
J
Joyam329
Upsides
This company seems the best fit to my situation.
Downsides
I wish they had personal loans.
E
Egypt.ww.giveaways
Upsides
Nice website for students
Downsides
P
Prettyprincess3
Upsides
Amazing for student loans
Downsides
U
Us
Upsides
Excellent option for people looking to refinance their student loans! Recommended!
Downsides
