LendKey Student Loans vs ELFI Student Loans

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	LendKey Student Loans	ELFI Student Loans
	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%
Maximum Amount	$300,000	No maximum - depends on your eligibility
Minimum Amount	$7,500	$10,000
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
	Learn More	Learn More
LendKey: Pricing information from published website as of 11/15/2018 ELFI: Pricing information from published website as of 3/11/2024

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