March 5, 2026
What is the best way to reduce the total cost of a private student loan?
If you apply for a private student loan with a creditworthy cosigner, you may be eligible for a lower interest…
March 5, 2026
How does auto-pay interest rate reduction work on LendKey student loans?
You can receive a 0.25 percent private student loan interest rate reduction when you sign up to automate payments from…
March 5, 2026
Are there penalties for paying off a private student loan early?
No, there are no prepayment penalties, and such payments will be applied in accordance with your loan agreement.…
March 5, 2026
What happens if I have trouble making my private student loan payments?
Your lender may offer forbearance for students facing financial hardship during the repayment period. In forbearance, no monthly payment is…
March 5, 2026
Who services private student loans issued through LendKey?
LendKey will be the servicer of your private student loan. To reach our loan servicing department with any questions, you…
March 5, 2026
Does LendKey charge application or origination fees for private student loans?
No, there are no application fees or origination fees when applying for a LendKey private student loan.…
March 5, 2026
How is the interest rate on a private student loan determined?
This is a credit based private student loan, so the interest rate you receive will be determined based on a…
March 5, 2026
What is the difference between fixed-rate and variable-rate student loans?
A fixed interest rate is consistent and will never change, whereas a variable rate may increase or decrease monthly based…
March 5, 2026
Should I choose a fixed or variable interest rate for a private student loan?
The fixed interest rate will never change throughout the life of the loan. This may make it easier to plan…
March 5, 2026
What is the difference between the interest rate and APR on a student loan?
Your interest rate represents the amount of money that your lender is charging you to borrow money. An APR, or…
March 5, 2026
How can I estimate my monthly payment for a private student loan?
Your monthly payment depends on numerous variables such as your principal loan balance, loan term, private student loan interest rate,…
March 5, 2026
Do private student loans include a grace period after graduation?
The grace period is a 6-month period of time that begins once you graduate or are no longer enrolled at…