LendKey Student Loans vs ELFI Student Loans

LendKey is a good option for customer service. How does it compare to ELFI? Read our comparison chart below.

LendKey connects borrowers with a network of community banks and credit unions to get the best rates. Lendkey's lenders offer both private student loans and refinancing & consolidation services. Many lenders offer the option to make interest-only payments during the first four years. Each lender has its own minimum loan and salary requirement.

While ELFI offers some of the lowest fixed rates among all student loan refinance providers. There is no origination fee or prepayment penalty. However, eligibility requirements are high. You need a minimum $10,000 in loans to refinance, as well as credit score and income minimums.

Compare LendKey with ELFI, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	LendKey Student Loans	ELFI Student Loans

	Learn More	Learn More
	SPECIAL OFFER Refinance Student Loans - Learn More Read LendKey Review	SPECIAL OFFER Refinance Student Loans - Learn More Read ELFI Review
	Benefits and Features
Variable APR	2.51% to 7.51% (with AutoPay)	5.28% - 8.99%
Fixed APR	3.49% to 7.54% (with AutoPay)	5.48% - 8.69%
Minimum Amount	$7,500	$10,000
Maximum Amount	$300,000	No maximum - depends on your eligibility
Loan Term	5 to 20 years	5, 7, 10, 15, and 20 years
State Residency	Most states except: ME, ND, NV, RI, and WV	All 50 states plus Washington D.C. and Puerto Rico
Degree Requirements	Bachelor's or higher	Bachelor's or higher from an approved post-secondary institution and program of study
Income Requirements	$24,000	$35,000
Employment Requirements	Must be employed	Must be employed
Interest Only Payments	Yes for the first 4 years	No
Origination Fees	None	None
Prepayment Penalty	None	None
Can Use a Cosigner	Yes	Yes
Can Release a Cosigner	Yes	No
Auto-Pay Interest Rate Reduction	Yes	No
Soft Credit Check	Yes	Yes
Unemployment Protection	Yes	Yes - up to 12 months forbearance
	CreditDonkey® Reviews

Loan Term
Customer Service
Ease of Use
Interest Rates
Payment Flexibility
Pros & Cons	Pros: Offer interest rate reduction beyond auto-debit reduction Excellent customer service Return policy within 30 days you can return your loan Cons: Cumbersome application process Lack of transparency regarding loan documents	Pros: Low fixed rates Up to 12 months forbearance Cons: Minimum $10,000 to refinance No cosigner release
Bottom Line	Good option for customer service... Read full review	Good choice for low rates, but high eligibility requirements... Read full review
	Learn More	Learn More
	Refinance Student Loans	Refinance Student Loans
LendKey: Pricing information from published website as of 11/15/2018 ELFI: Pricing information from published website as of 3/11/2024

Refinance Student Loans

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Which is Better: LendKey or ELFI?

Still need help deciding which student loans is better? Read the in-depth reviews below. You may also be interested in comparing LendKey or Earnest.

In short: ELFI's ease of use is outstanding.