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Additional information

Fixed APR


Variable APR


Minimum Credit Score


Term Duration

10 years.

Loan Amounts

Up to $20,500 annually and $138,500. PLUS loans

Financeive’s rating



For borrowers who want to take some of the legwork out of loan comparison, LendKey is a great alternative. You may quickly evaluate different offers from hundreds of smaller lenders that provide competitive rates and excellent customer service through the network.

It’s also a good lender for individuals who wish to refinance since it offers low refinancing rates that start at a 1.57% variable APR.

You can read our full LendKey review to inform your decision-making process.


  • Without even a hard credit check, you can know if you’ll qualify and what rate you’ll get.
  • There are no application or origination fees with LendKey.
  • You’ll be matched with a trusted lender, which will make your search a little easier.
  • Forbearance periods of 18 months are longer than many lenders’ for 15- and 20-year loan maturities.
  • LendKey only requires a co-signer if you have insufficient yearly income or short credit history. If you have a stable income and good credit, you can apply without one.


  • Borrowers cannot defer payments if they return to school or serve in the military.
  • Borrowers with undergraduate loans can only refinance up to $125,000 in student loans, which may not be enough if you went to a prestigious private school.
  • Loans are not available in the following states: Maine, Nevada, North Dakota, Rhode Island, and West Virginia.

What Is LendKey?

LendKey is a lending company and online marketplace that connects borrowers to local credit unions and community banks to apply for and receive private student loans, student loan refinancing, and home improvement loans.

LendKey was originally known as Fynanz, which operated from 2007 until 2017.

Fynanz was a peer-to-peer student loan platform that stood out from other P2P lenders by guaranteeing loans and leveraging novel data sources to analyze applicants’ creditworthiness.

The nation’s 13,000+ community financial institutions may use LendKey’s cloud-based solutions and infrastructure to participate in online lending and provide loans in a variety of asset classes thanks to its 11-million-strong user base.

LendKey Refinancing Rates, Fees, and Terms

LendKey performs soft credit checks to qualify and see what rate you’ll get. Loan terms range from five, 7, 10, 15, or 20 years. The lowest amount that can be refinanced is $5,000.

However, in Arizona, Connecticut, California, Colorado, and Massachusetts, The minimum loan amount for refinancing is $10,001.

The maximum attainable loan amount for an undergraduate degree is $125,000, for a graduate education it’s $175K, and for certain medical degrees is $300K. Keep in mind: By refinancing with LendKey, you cannot transfer a parent loan to a kid.

LendKey does not charge any application, origination, or prepayment fees, however, some lenders may charge late penalties. Eventually, LendKey has 6 months grace period for repayment.

LendKey Student Loan Refinancing Requirements

The requirements for student loans differ by lender, but LendKey has generic student loan qualifying requirements. To be considered, borrowers must:

  • You must be a citizen or permanent resident of the United States.
  • There are no loans available in Maine, Nevada, North Dakota, Rhode Island, or West Virginia.
  • At least an associate’s degree is required.
  • A student must have attended a federally funded school

A co-signer is not required, but 37% of borrowers have one.

However, most LendKey refinancing lenders have certain requirements:

  • The lowest required annual income is $24,000, or $12,000 with a co-signer.
  • 751 is the average credit score of authorized borrowers or co-signers.
  • 660 is the minimum credit score.
  • The average annual salary of eligible borrowers is $65,000.
  • The maximum debt-to-income ratio for refinancing is 50%.