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LendEDU Student Loan Refinance Review


ConsumersAdvocate.org Rating: 3.9 / 5 (Very good)
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LendEDU is an online marketplace for student loan refinancing and private student loans.

LendEDU also offers online resources and tools, including student loan repayment and refinancing calculators, guides about managing money during school and after graduation, and free online courses and personal finance advice.
 
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How is LendEDU rated?

Breakdown

4.0/5
Loan Specifications
3.8/5
Eligibility Requirements
3.8/5
Customer Experience
3.8/5
Reputation

Overall Rating: 3.9 / 5 (Very good)

NOTE: On February 3, 2020, the Federal Trade Commission announced that LendEDU has agreed to settle a lawsuit brought by that agency in which the company was accused of misleading consumers into believing that their website provided objective product information, when in fact they offered higher rankings and ratings to companies that paid for placement. The company denies wrongdoing but has agreed to a settlement that would prohibit it from making the same types of misrepresentations and would require it to pay a $350,000 fine.

LendEDU is a resource for student loan borrowers looking to refinance.

It offers pre-qualified quotes from top lenders, as well as comparisons and reviews for each company.

It also features a veritable wealth of resources, including free online courses, for students and borrowers who want to become more financially literate.

LendEDU Loan Specifics

Loan Specifications - 4 / 5

LendEDU gives consumers access to quotes from the top lenders in the student loan refinancing market, such as SoFi, Earnest, and LendKey.

As such, it does not refinance loans themselves.

Potential borrowers can check their rate with each lender, and specific loan offerings will depend on the company selected.

LendEDU's website also displays reviews, and comparative tables for the companies featured.
Loan Types
Undergraduate
Graduate
Career Training
Parent
Maximum Loan Amount
$5,000
Terms
5
7
8
10
15
20
Rates
Fixed
Variable
Hybrid
Fixed APR Range
3.09%-8.34%
Variable APR Range
2.50%-8.23%
Repayment Options
Full Repayment
Fixed Monthly Repayment
Interest Only
Deferment or Forbearance

LendEDU Qualifications

Eligibility Requirements - 3.8 / 5

Most lenders that LendEDU works with require that borrowers be U.S. citizens or permanent legal residents.

Other requirements may apply, but they'll depend on the lender.

Many perform income and employment verification, and most require that applicants have at least a bachelor's degree from a federally accredited school.
Citizenship Requirement
U.S. Citizen
Permanent Legal Resident

LendEDU Customer Experience

Customer Experience - 3.8 / 5

LendEDU not only offers pre-approval quotes from student loan refinancing lenders, but it also has a wealth of resources for students on its website.

Payment calculators, personal finance advice, free online courses, and in-depth financial guides are available for free.
Online Quotes
Student Loan Refinance Calculator
Services
Live Chat

LendEDU Company Reputation

Reputation - 3.8 / 5

LendEDU has an A+ rating with the BBB.

However, no customer reviews are posted on its profile.

Conversely, the company has an almost-perfect 9.8 out of 10 score on Truspilot.com, with most customers praising the site's ease of use.
Lender Type
Marketplace
Year Founded
2014
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
0
Trustpilot Rating
9.8 out of 5
Date Collected
2018-04-04

Company Profile

Full Name
LendEDU Student Loan Refinance
Company Website
https://lendedu.com/
Headquarters
80 River St Ste 3c-2, Hoboken, NJ, 07030

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  • Compare personalized prequalified rates from multiple lenders
  • No impact on your credit score to compare rates
  • No origination fees or prepayment penalties
  • Free customizable rate & monthly payment comparison tool
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