With its comparably lower APRs and flexible loan amounts, LendKey allows you to get your undergraduate or graduate degree by helping you with your financial needs. You can also refinance your loans through this lender, and parents can apply for student loans as well.

At a Glance: LendKey Student Loans

  • LendKey

    • 4.03%–9.01%Fixed APR Range
    • 1.49%–8.09%Variable APR Range
    • $2,000 up to the cost of attendanceLoan Amounts
    • Six monthsGrace Period
    • OptionalCo-signer


    on LendKey Website

MoneyGeek Breakdown: LendKey Student Loan Details and Requirements

LendKey Details

Fixed APR


Variable APR

1.49%–8.09% (won’t exceed 18%)

Loan Types

Undergraduate and graduate

Loan Amounts

$2,000–the difference between any financial aid you have received and the cost of attendance

Repayment Terms

10 years

Grace Period

Six months

Co-signer Required


Time to Receive Funds

Within weeks

Late Fees

5% of the unpaid installment amount

Prepayment Penalty Fees



0.25% autopay discount

Mobile Application


LendKey Student Loan Application Requirements


Be enrolled at least half-time in a degree program.


Must be a U.S. citizen or a permanent resident of the U.S.


Must be at least 18 years of age.


Must have a good credit score, an established credit history and a source of income.


Must provide the name of your school, academic period, loan amount, social security number and your co-signer’s contact details (if you have a co-signer).


The co-signer must provide their permanent address, social security number and income information.

Is LendKey Right for You?

Student loan lenders can vary in terms, rates and conditions. The right student loan lender for you depends on your needs and financial situation. Here is who LendKey student loans are great for and the types of borrowers who might want to consider a different lender.

Type of Student LendKey Is Perfect For

Students who are looking to save money can benefit from LendKey’s offers. LendKey has low APR rates. You can get a starting variable rate of as low as 1.49% and a fixed rate of 4.03%. Your rates can even be lower if you use autopay. These loans also don’t have prepayment penalties or origination fees.

This lender is also great for students who have co-signers. LendKey considers the higher credit score between you and your co-signer. This increases the student’s chance of being approved for the loan and receiving the lowest rates possible.

Overall, students can receive better terms and save more money if they have a co-signer with a good credit profile.

Who Should Not Choose LendKey

LendKey may not be the best option for students with new or no credit history who don’t have a co-signer. A co-signer can help you since their credit profile will be considered instead of yours. If you don’t have one, your student loan may not have the best terms.

These student loans determine your rates based on your credit profile. If you don’t have a long history or a good credit score, your application is more likely to be denied or you’ll get a higher APR. As a result, you’ll spend more money over time.

How to Apply for a LendKey Student Loan

If you think LendKey can meet your financial needs, their application process is simple and straightforward. You can follow these steps to apply for a LendKey student loan.



Unfortunately, there is no prequalification available. Students need to submit their applications and undergo a hard inquiry that will affect their credit score.


Fill Out Application Form

You can apply for a student loan online via the LendKey website. You’ll need to provide your personal details as well as the name of your school, the academic period you’re taking out a loan for, the loan amount, your Social Security number and the contact details of your co-signer (if you have one).


Wait for Approval

LendKey suggests that students should send in their application at least one month before they need the funds. While conditional approval can be granted quickly, the certification process from your school can take a few weeks.


Review Loan Agreement

Once you receive the loan agreement, read it thoroughly. This part of the process protects you from agreeing to hidden charges or facing unexpected fees in the future.


Sign Loan Agreement

If you’re sure about taking out the loan after reading the fine print, you can sign the loan agreement.


Receive or Direct Funds

LendKey sends the funds directly to your school. Any excess from your tuition will be refunded or charged to your outstanding balance.


Make Payments

When making payments, make sure not to go past the due date to avoid late fees. You can also opt for autopay so you don’t forget your monthly payments and get a 0.25% discount.

What to Do if You Are Rejected From LendKey

Rejections from lenders can happen, and it’s nothing to worry about. Usually, applications are rejected because of a low credit score, insufficient income, new credit history or problems with your application details.

If your student loan application was rejected, call your lender to ask why. This will allow you to know what you will need to work on before reapplying or applying with another lender. Sometimes it’s as simple as changing the amount you are requesting or fixing an error on your application.

You can also talk to your school’s financial aid advisor or office. They may have information and resources that can help you find other ways to finance your education.

Since LendKey allows co-signers, you can also try applying with a co-signer. Ideally, your co-signer will be someone with a good credit score and a long credit history. This will give you a better chance of getting approved for a student loan.

Frequently Asked Questions About Student Loans

MoneyGeek’s LendKey student loan review aims to help you decide which student loan is best for you. We have answered frequently asked questions about student loans from LendKey so you can evaluate the lender and if it offers the loan terms you need.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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