Student Loan Refinancing Made Easy

"Don't rush. Take the time to think, think, think". - Winnie the Pooh

Student loans were often locked in at rates higher than you could be eligible for today. For this reason, GiraffeSpot really likes the online student loan refinancing platforms that allow graduates an easy way to find the best refinancing solution for them.

Lendkey is an online lender that offers student loan refinancing, student loans and home improvement loans throughout the USA through network of banks, credit unions.

This is a review of Lendkey’s student loan refinancing services.

Basic Features:

Loan range:$7,500 - $125,000 for undergraduate degrees; $250,000 for graduate degrees and $300,000 for medical, dental or veternary degrees
Variable rate APR:                            2.38% - 6.81% APR
Fixed rate APR:3.64% - 7.50% APR
Loan period:5. 7, 10, 15 and 20 years
Minimum income:$24,000, $12,000 with a co-signer
Employment criteriaMust be employed
Degree required:Bachelor degree or higher
Use of co-signer:Yes
Release of co-signer:Yes
Interest only payments:For the first 4 years, on 15 and 20 year loans
School:Title IV-accredited
In-house customer service:Yes
Fees:No origination fee, no prepayment penalty, late fees range from $5 to $15
Discharged in death:Not guaranteed but automatic discharge has been common pratice among lenders
Forbearance:On 5, 7 and 10 year loans, postpone payments for up to 4 months at a time, for a total of 12 months. On 15 and 20 year loans, postpone payments for up to six months at a time, for 18 months total

Their process
LendKey requires a minimum credit score of 660, while their typical borrower has a credit score of 757. The average income of their clients is $63,000, which may indicate a good fit for those with incomes below $100,000.


  • Suitable for lower income earners
  • Available nationwide
  • Extended forbearance polciy
  • No prepayment penalty
  • High refinance limit up to $500,000
  • Ability to have a co-signer
  • Bankruptcy more than 7 years ago is alright by them


  • No official forgiveness on death, however this is said to be common practice
  • No academic or military deferment
  • Late fees ranging from $5 - $15 while most student loan refinance companies do not charge these

LendKey loans are offered nationwide and seems to appeal to a large mass of graduates that are not top income earners. They offer some great terms, include a high refinance limit and an extended forbearance policy.