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Are you looking to find the best student loan refinancing rate from community banks and credit unions? There are thousands of options and it would be a big time suck. LendKey makes it easier to find the best refinancing option for you from hundreds of local community banks and credit unions.
LendKey is a marketplace that connects consumers to student loan refinancing and consolidation options with community banks and credit unions. Essentially, it’s a matchmaking service to help borrowers find local financial institutions for your student loan needs. The big emphasis is on local!
LendKey can issue loans in all 50 States with their 300+ partnering credit unions and banks. Through the website, you can check for the best rate for your student loan refinancing needs. Anyone considering to refinance their student loans should consider a local community bank or credit union.
Lower Payments: Refinance for a more manageable monthly payment.
Lower Rates: Get a lower rate and spend less on interest through an aggregate of all your student loans.
Simpler Finances: Make one payment as opposed to multiple payments. LendKey will also let you consolidate both private and federal loans.
*accurate as of November 25, 2017
All loans are subject to credit review and approval and your rate depends upon credit score, loan amount, loan term, and credit usage and history.
Your repayment terms will depend on your APR and loan term.
Experience. A quick application process to check your rate (without impacting your score), selecting your loan terms, then agreeing to a hard credit inquiry (will impact your score), and finally submitting your documents online for verification.
The LendKey Student Loan Refinance application process is simple:
Since Lendkey is a marketplace, they connect you with hundreds of potential refinancing options. In just 5 minutes, you can complete the LendKey application process and within minutes see how much you can be saving.
In order to get approved or receive the best rate, you might need a cosigner. But with Lendkey, your cosigner can be released once you've shown a history of repayment for 12 consecutive months.
This can make repayment easier but you can lose federal benefits of your federal loans if consolidated with private loans or refinanced. You may want to consider consolidating your federal loans separately to keep things like income-based repayment plans, public service forgiveness, forbearance, and deferments.