LendKey Student Loans | Review

Shopping around for a student loan is always a smart practice since lenders have their own underwriting models and loan terms, meaning what you're offered can vary from one company to the next. However, manually requesting quotes from individual lenders can be time consuming and frustrating. LendKey aims to make it simpler by allowing you to fill out one form and get connected to available lenders.

Unlike other marketplaces that only have a handful partners, LendKey partners with hundreds of credit unions and community banks. It's a great tool for borrowers who are interested in doing business with those types of institutions rather of the major lenders in the space.

Table of contents:

• LendKey Student Loans Overview
• LendKey’s Services
• LendKey’s Credentials
• LendKey’s Accessibility
• LendKey’s Customer Satisfaction
• LendKey FAQ

LendKey Student Loans Overview

Founded in 2009, LendKey is a marketplace platform that connects borrowers with available lenders. LendKey is best known as a private student loan marketplace for undergraduate and graduate borrowers, but it also offers student loan refinancing and home improvement loans.

When you submit your information through LendKey, you can get connected to hundreds of credit unions and banks, helping you find the best possible loan offers. LendKey will match you with the best offer; you don't get to review offers from multiple lenders.

While each lender has their own policies, all of LendKey’s partners have the option of deferring full principal and interest payments until six months after graduation or leaving school. You will have to make either interest-only or flat monthly payments while in school, which helps reduce what you pay over the life of the loan.

LendKey doesn’t charge application fees or origination fees, and there are no prepayment penalties. However, LendKey does have aggregate and lifetime borrowing limits. The most you can borrow from LendKey is $120,000 for undergraduate programs and $160,000 for graduate programs. However, LendKey also has an aggregate limit that considers all of your student loans, including federal student loans. The maximum is $160,000 for undergraduate programs and $250,000 for graduate programs.

Unlike other platforms that allow you to choose between different repayment plans, LendKey loans only have one loan term option: 10 years.

Because LendKey is a marketplace rather than a lender, loan policies can vary based on the company issuing the loan. For example, some of LendKey’s partners offer cosigner releases, but not all do. And not all of the lenders offer financial hardship repayment options, like forbearance.

One final perk? The lender partners with NextJob to offer career counseling to borrowers.

LendKey’s Services

Through LendKey, students can apply for loans to finance their undergraduate or graduate degrees. To qualify for a loan, students must be U.S. citizens or permanent residents and enrolled in an eligible school at least half-time.

What they offer: Private student loans

LendKey’s minimum loan amount is $2,000, and students can borrow up to the total cost of attendance (up to a maximum of $120,000 in LendKey loans for undergraduate students, and up to $160,000 in LendKey loans for graduate students).

Borrowers can choose between fixed and variable interest rates. As of July 2025, the following interest rates apply:

• Fixed rates: 3.38% to 12.69% APR (Rates include 0.25% discount for automatic payments)
• Variable rates: 4.34% to 13.51% (Rates include 0.25% autopay discount)

All loans have a 10-year repayment term. Student borrowers are required to make loan payments while they’re in school, but they don’t have to make full payments against the principal and interest until six months after they graduate or leave school. Depending on the lender issuing the loan, they may have the following options:

• Interest-only: With this payment option, students make monthly payments only against the interest while they’re in school and for the duration of the grace period.
• $25 Per Month: If students are eligible for the flat payment plan, they pay just $25 per month toward their loans while they’re in school and during the grace period.

Borrowers (or their cosigners) must have an income of at least $24,000. LendKey does not disclose the minimum credit score required to get approved for a loan on its website, but the company encourages borrowers to apply with a cosigner to improve the chances of getting a loan and a lower interest rate. However, not all of LendKey’s partner lenders offer cosigner release, so make sure you read the fine print carefully and understand the cosigner’s responsibilities.

What they don’t offer

When comparing LendKey to other student loan companies, consider these drawbacks:

• No parent lending options: While other companies offer private parent student loans, LendKey doesn’t have that option. Parents that want to borrow on behalf of their children will have to work with another lender.
• No loans for international students: LendKey requires all borrowers to be U.S. citizens or permanent residents. International students aren’t eligible for loans from LendKey.

LendKey’s Credentials

LendKey is licensed to operate loans in all 50 states. While it doesn’t originate loans itself, it partners with hundreds of financial institutions. All of its partner lenders are members of the National Credit Union Administration (NCUA) or the Federal Deposit Insurance Corporation (FDIC).

Licenses and Registrations

LendKey holds licenses in all 50 states, so it can approve borrowers nationwide.

Awards and Certifications

At the 2023 Banking Tech Awards USA, LendKey was highly commended in the category of “Best Use of IT for Lending” for its student lending platform.

Third-Party Ratings

LendKey has not been rated by a third-party consumer agency.

Regulatory Actions

LendKey has not faced any class action lawsuits or regulatory actions.

With the Consumer Financial Protection Bureau (CFPB), LendKey has 49 total complaints over the past three years — relatively low for a student loan company. That number includes complaints for private student loans and student loan refinancing. Complaints most commonly concerned issues with repaying loans or qualifying for a loan.

LendKey’s Accessibility

LendKey provides customer support via phone or email, and it also has educational guides and tools in its resource center.

Availability

While LendKey’s partner lenders may have in-person branches, LendKey does not. It is only available online. Both borrowers and cosigners can complete the loan application through LendKey’s website.

Contact Information

You can contact LendKey with any questions by phone or email. Customer service staff is available Monday through Friday from 9:00 a.m. until 8:00 p.m. EST. To contact customer support, call 888-549-9050 or email customer.care@lendkey.com.

User Experience

Although your loan will be originated by a community bank or credit union, LendKey is the loan servicer for all loans processed through its platform. LendKey is the company you contact if you have questions about your payments or financial difficulties.

Limitations

LendKey provides very basic information on its site; you’ll have to read the partner lender’s disclosures to fully understand the loan terms and fees.

LendKey’s Customer Satisfaction

LendKey is a highly-regarded company with many positive customer reviews.

Customer Complaints

On TrustPilot, LendKey has a TrustScore of 4.2 out of 5 based on over 400 reviews. Customers praise the platform’s low rates, quick application process and responsive customer service.

LendKey is not accredited by the Better Business Bureau.

Third-Party Ratings

LendKey has not been rated by third-party organizations.