LendKey Review
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LendKey Reviews

Lauren Le-Hair


Lauren Le-Hair

No Application or Origination Fees
No Application or Origination Fees
About LendKey

LendKey is a marketplace lender that helps match people looking for private student loans and refinancing solutions with the right bank or credit union. The organization partners with over 300 financial institutions, which you can find through its online site via a handy single application form. Aside from its student loan products, LendKey also offers home improvement loans through its marketplace.

LendKey initially opened its virtual doors in 2007 as Fynanz before rebranding to LendKey in 2013. Since its launch, the company has provided customers with over $5 billion in loans. LendKey was based in New York City, NY, before relocating its headquarters to Cincinnati, Ohio.









LendKey Student Loans Review

LendKey offers both private student loans and student loan refinancing solutions through its excellent online marketplace. Students can search from up to 300 banks and credit unions via a single application, and LendKey also services loans made through the marketplace. Loan products from LendKey are very competitive, with reasonable interest rates available. The marketplace lender also offers loans with no origination or application fees applicable.

LendKey Student Loans Highlights


$5,000 - $300,000


Min 4.89%


Min 4.91%




5, 7, 10, 15, or 20-year terms


30 days











Pros & Cons

  • Easy to search for products from hundreds of banks and credit unions
  • No application or origination fees
  • Low minimum annual income required for refinancing
  • Co-signer can be released after only 12 payments on-time
  • Payments are required even if you are still in school
  • Loans terms and requirements can vary on a partner lender basis
  • Only monthly auto pay options, not bi-weekly

Student Loans Type

  • Private student loans
  • Student loan refinance

LendKey Refinance Highlights


min $5,000


Min 3.99%


Min 4.00%

Pros & Cons

  • Easy to search for products from hundreds of banks and credit unions
  • No application or origination fees
  • Low minimum annual income required for refinancing
  • Co-signer can be released after only 12 payments on-time
  • Payments are required even if you are still in school
  • Loans terms and requirements can vary on a partner lender basis
  • Only monthly auto pay options, not bi-weekly

LendKey Student Loans Terms & Requirements

Loan requirements can vary from partner lender to partner lender, but to get a loan product through LendKey, you will need to be able to demonstrate the following:

  • Be a US citizen or permanent resident
  • Have a minimum credit score of 660
  • Have a minimum debt-to-income ratio of 50%
  • A minimum of an associate’s degree from a federal financial aid-eligible school

People needing private student loans can apply with or without a co-signer, with APRs available starting from 4.89% for a fixed rate and starting from 4.91% for a variable rate. The minimum borrowing amount is $5,000. You can borrow up to $125,000 for an undergraduate degree, $250,000 for a master’s degree, and $300,000 for a specialist degree, such as a medical or dental degree.

Student loan refinancing offers the same amounts as maximum loans, with fixed rates starting from 3.99% and variable rates starting from 4.00%. Loan terms are available for 5, 7, 10, 15, or 20 years.

Forbearance is available if required and differs based on the length of the loan term. 5, 7, and 10-year loans offer forbearance of 4 months at once and up to 12 months throughout the loan period. 15 and 20-year loans offer 6 months forbearance at once, with 18 months available over the loan’s lifetime.

In general, the terms offered through LendKey are good, although bear in mind that the lower your credit rating is, the higher the interest rate will be.

How to Apply

We decided to apply for a private student loan through LendKey’s marketplace. After heading to its homepage, we selected “Private Student Loans” to begin and then chose “Get Started”.

LendKey step 1: Apply for loan
Step 1

Student loan options you deserve

After completing the school information, we entered our personal information, including name, SSN, date of birth, address, phone number, and income details.

We were then asked to select the credit union we wished to fund the loan. We were given two options (some people will receive a different number), so we researched the credit unions offered to see which matched our needs the best. We entered a secure password and then selected “Review Disclosures” to ensure that all the personal data entered was correct.

Once we were happy all of the information was correct, we authorized a credit check to be performed. Thankfully this returned quickly, stating that we were eligible for a student loan via LendKey. We then had to upload the documents that were requested of us, review and agree to the loan terms offered, and then sign the loan agreement and terms and conditions.

Applying for a loan through LendKey is easy, but ensure that you research the credit unions offered to you as a loan provider to ensure that they meet your needs.

Required Information

You’ll need to provide several pieces of information when applying for a private student loan or student loan refinancing with LendKey. The final list of documents required will vary slightly between lender partners, but at a minimum, you will need to provide proof of the following:

  • Name
  • Address
  • Social Security Number
  • Date of birth
  • College attending or attended
  • Degree
  • Phone number
  • Email address
  • Income details

State Availability

Available - Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, Wyoming.

Not Available - Maine, Nevada, North Dakota, Rhode Island, West Virginia.

Privacy & Security

LendKey has an average rating of 4.6 out of five stars from almost 200 reviews on Trustpilot. More than 80% of the reviews are “excellent.” Reviewers mention the seamless approval process, the ability to complete the loan application and funding 100% online, and the excellent customer service. While the company has a Better Business Bureau rating of A, it has several negative reviews on the BBB site.

When you submit your initial application with the marketplace lender, you must agree to allow LendKey and its participating lenders and partners to contact you via text, artificial message, or phone at the number you indicate in your contact information. However, in the application, LendKey notes that it uses your telephone number to help verify your identity and that it will not contact you unless you go through the formal application process.

LendKey’s online privacy policy states that it may use your personal information to market to you and provide you with loan offers and various services. The organization states that it will share your personal information with credit bureaus, companies that support surveys, marketing services, and other services it offers.

Customer Support

Unlike many marketplace lenders, LendKey has an in-house customer service team that services the loans offered through its marketplace. While most marketplace lenders refer you to the bank that issues the specific loan, the fact that LendKey remains in the process from application through to repayment is a benefit due to its excellent customer service levels.

Customer service review sites consistently rate LendKey’s customer service as one of the best in the industry, so we decided to test its responsiveness. We called LendKey’s customer support to ask about the lending terms of the private student loans. Our call was answered quickly, and all of our questions were answered without being placed on hold by a polite customer representative. This Lendstart support member clearly knew the products in detail. The interaction was positive as expected.

Phone Support
(888) 549-9050
Mon - Fri
9:00 AM - 8:00 PM EST
Sat - Sun

In Conclusion

At the end of the day, if you are looking for a private student loan or student loan refinancing, then LendKey provides a quick way to compare offerings from hundreds of banks and credit unions. The marketplace lender offers competitive rates, a smooth online application process, and no origination fees, which will appeal to anyone looking for a product to meet their student loan needs.

Still, the potential drawbacks of using LendKey are that, as a marketplace lender, different requirements may be needed based on which direct lender is chosen through the marketplace.


Does applying for a loan with LendKey affect my credit?
Yes, but you can see what rates apply to you via the “Check your rate” tool on the website.
Who services loans that are processed through the LendKey marketplace?
LendKey services all loans that are generated through LendKey’s marketplace.
Is forbearance available if required?
Of course. If you find yourself in hardship, you can contact a customer support agent to discuss your available forbearance options.

LendKey Disclaimer

We are not a lender or broker. We do not take applications, make loans, or make credit decisions in connection with your loans. We are not registered or licensed by any state or federal governmental entity for our services. You may contact us using the information in the Notice and Contacting Us section below. We work to arrange for the extension of credit through one of our Lenders. We use the information you provide us to allow our Lenders to offer loans that may be of interest to you.

We collect information from you to register you as a user of our website and to determine if you meet a Lender’s eligibility criteria. After we analyze the information you provide, we will work with Lenders to arrange a loan offered by a Lender.

If you are eligible to apply for loans offered by Lenders, then we may display choices that may interest you. You will then have the opportunity to select one of the choices. If you do not meet the eligibility criteria for the Lenders, then we may not provide you with any choices.

You will have to complete an application with a Lender before it offers you a loan. Lenders offer these terms directly to you. We may transfer your information to Lenders at your request and with your authorization to allow the Lender to prepare your application with it for you to submit. This is the point that you start an application process for a loan from the Lender that you have selected. The application process takes place with the Lender; we do not offer you the loan.


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Lauren Le-Hair

As an experienced content writer, Lauren’s passion for the finance sector is only exceeded by her love of writing. Lauren specializes in the financial industry, drawing on her knowledge and experience to deliver top-quality, specialized content with an expert tone of voice and a unique flair. She also holds a First Class (Hons) Batchelor’s degree from Staffordshire University.