Private Student Loan

Fund your education with a loan from LendKey's network of community lenders.

Estimate your monthly payment.1

Amount You'd
Like to Borrow:
Your Credit Rating:
Monthly Payment

Why Finance Your Education With Our Lenders?

Competitive rates Competitive rates

Competitive Rates

Get attractive rates from our community lenders. Many of our lenders may even consider academic credentials, which can lower your interest rate.

Interest rate reduction Interest rate reduction on your student loans

1% Interest Rate Reduction

Many of our lenders offer an interest rate reduction once you’ve entered the full repayment period and repaid a certain percentage of the loan principal.

calculate your savings using our student loan calculator calculate your savings using our student loan calculator

Tax Deductible Interest Payments

The interest paid on your private student loan may be tax deductible.2

Cosigner Release Available Cosigner Release Available

Cosigner Release

Many of our private student loan lenders offer cosigner release to creditworthy borrowers who have made consecutive, full on-time principal + interest payments.3

Most of our community lenders don’t charge borrowers origination fees. Most of our community lenders don’t charge borrowers origination fees.

No Fees

Most of our community lenders don’t charge borrowers origination fees.

0.25% ACH Interest Rate Reduction 0.25% ACH Interest Rate Reduction

Rate Reduction Through Automatic Payments

When you sign up for automatic payments, many of our community lenders could drop your interest by 0.25%.4

Get Started

A Simple Application Process

  • Step 1
  • Step 2
  • Step 3
  • Step 4


Step Estimate: 5 Minutes

Use our calculator to quickly estimate your monthly payments for a private student loan. Then, select your state to see offers from community lenders in your area.


Compare the rates and offers that are available to you from community lenders, and choose an option that’s best for you.


Once you select a private student loan option, you’ll continue on to the application process. Because the entire process uses LendKey’s technology, your personal information will be safe and secure!


Verify your identity, upload your school transcript (unless you’re a first semester freshman), and provide a few other documents through our online portal. We’ll review your documents, credit information, and let you know once your loan has been approved!


What Do Our Borrowers Think?

Private student loan borrower Kelsey from the University of Portland
Kelsey University of Portland
"You offered a lower rate, had pretty good reviews, and were recommended by SALT Money which made me trust you, SALT was referred to me by my school, so I felt good about going with their recommendation."
Jen from the University of Maryland got a private student loan from LendKey
Jennifer University of Maryland
"It seemed like the easiest process! I enjoyed the one-on-one feedback and assistance from all the loan counselors. Their process has a lot of automation and they called you and helped you each step of the way. "
Gerald from University of Pittsburgh got a private student loan from LendKey
Gerald University of Pittsburgh
"They seemed to have the most reasonable rates and everyone I talked with was very professional and seemed like they were on my side. "

Lead By Example

A creditworthy cosigner can make all the difference when it comes to a loan application’s chances for success and approval. Cosigners play a critical role in helping borrowers to secure personal student loans and qualify for a lower rate. If you’re a creditworthy cosigner, you can help a student responsibly borrow funds for their education. And often for a rate well below one they could get on their own.

Being a cosigner helps make a college education possible for the borrower, but the responsibility does come with financial risks. If the student defaults on the loan, the cosigner will be held liable for the remaining loan payments, and his or her credit history may be affected (in addition to the borrower’s). There are also certain requirements the cosigner must meet. The cosigner must have a good credit history and demonstrate certain income requirements.

Learn More

The Benefits of Making In-School Payments

Going into debt for college is often necessary for many families to achieve the goal of a higher education. If not done responsibly, managing debt after graduation can become an overwhelming task. Certain loans, such as the subsidized Stafford loan and the Perkins Loan have interest paid for by the government while the student is enrolled in school. However unsubsidized Stafford loans and private loans do accrue interest while the student is in school. Interest will continue to compound over the duration of enrollment.

In-school payments allow the student to make a standard minimum monthly payment towards the loan. This develops establish healthy financial habits and can help reduce the amount of total interest expense. More importantly, it helps the student to develop a credit history for future loans after graduation.

The ability to make a payment towards loans while in school has been available for both federal and private loans, but generally not promoted by private student loan providers, with most student borrowers electing to defer loan payments until after graduation. In-school payment provides the ability to reduce the debt load students face after graduation.

Low Rate Loans From Community Lenders

All loans on are funded by community lenders like credit unions and community banks. These financial institutions work with LendKey to keep operating costs low, and pass on the savings directly to you.

Unlike many larger banks that may take deposits in one state and lend in others, community banks and credit unions channel most of their loans to the neighborhoods where their depositors live and work, helping to keep local communities vibrant and growing.

About Community Lending

Select your state to see loans from
community lenders in your area.

Frequently Asked Questions

A private student loan is a credit-based loan for college that be used to pay for qualified educational expenses including tuition, room and board, books, and other school related expenses. A private student loan serves as a way for students to fill the funding gap between the cost of attending school and the amount of federal loans, grants, and scholarships available to them.

No. However, we encourage students to complete the FAFSA each year, to ensure that you take full advantage of grants and other federal aid you may be eligible to receive. Again, private student loans are a way for students to fill the funding gap between the cost of attending school and the amount of federal loans, grants, and scholarships available to them.

While you may apply on your own, applying with a creditworthy cosigner can make all the difference when it comes to a loan application’s chances for success and approval—and even result in a lower rate. Find out all the benefits of applying with a cosigner in this blog post.

Yes. You will need to reapply each academic year for a private student loan.

Federal student loans are available through the US Department of Education and offer fixed interest rates. Private student loans are credit-based loans, feature fixed and variable interest rates, and are available through credit unions or banks.

1 - Calculator

The calculator above provides estimates based on the information provided and is for illustrative purposes only. Actual estimated payments can only be determined after you apply and provide all necessary documentation for review. The results provided assume (1) That you will be enrolled in school for 48 months, and would make $25 monthly payments during your time in school and 6-month grace period, followed by 72 months of full interest and principal payments, (2) a $50.00 per month minimum payment, (3) a variable rate loan. We encourage you to seek personalized advice from a qualified professional regarding your specific financial situation.

2 - Tax Deductible Interest Payments

The deduction is generally the smaller of $2,500 or the interest you paid in the calendar year. Please consult with a tax expert to understand if this option may be available to you.

3 - Cosigner Release

In order to qualify, the borrower, alone, must meet the lender's credit criteria, and the borrower's loan account must be and remain current up until the lender's decision to release the cosigner has been made.

4 - Autopay Rate Reduction

Subject to floor rate. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments..