February 7, 2022
What is the repayment term?
The repayment term is 10 years.…
February 25, 2021
Do you offer hardship forbearance?
Yes, many lenders on our platform offer forbearance for financial hardship. In the event you require hardship forbearance, reach out…
February 25, 2021
Are there fees associated with my loan?
Yes, some lenders on our platform have late fees and insufficient fund fees. Please review your loan documentation during the…
March 5, 2020
What is the best way to reduce the overall cost of my loan?
If you apply for a student loan with a creditworthy cosigner, you may be eligible for a lower interest rate,…
March 5, 2020
How do I get my auto-pay interest rate reduction?
You can receive a 0.25% interest rate reduction when you sign up to automate payments from your checking or savings…
March 5, 2020
Are there penalties for paying off my loan early?
No, there are no prepayment penalties, and such payments will be applied in accordance with your loan agreement.…
March 5, 2020
What if I need help making my monthly payments?
Your lender may offer forbearance for students facing financial hardship during the repayment period. In forbearance, no monthly payment is…
March 5, 2020
Who will be servicing this loan?
LendKey will be the servicer of your loan. To reach our loan servicing department with any questions, you may call…
March 5, 2020
Do you charge any application fees?
No, there are no application fees or origination fees when applying for a LendKey Private Student Loan.…
March 5, 2020
How will my interest rate be determined?
This is a credit-based loan, so the interest rate you receive will be determined based on a review of your…
March 5, 2020
What is the difference between a fixed interest rate and variable interest rate?
A fixed interest rate is consistent and will never change, whereas a variable rate may increase or decrease monthly based…
March 5, 2020
Which rate should I choose: Variable or Fixed?
The fixed interest rate will never change throughout the life of the loan. This may make it easier to plan…