Lend Key does a lot of the same things, only it uses a network of community banks and credit unions to fund the consolidation loan.Like So Fi, the application process for Lend Key is completely online and takes around 10 minutes with a response time of about three minutes.Both federal and private lenders recognize that lower monthly payments help may be the best option, if you don’t get the job you want immediately after graduating from colleges.
The market for consolidating and refinancing student loan debt has exploded over the last five years.
Online lenders So Fi and Lend Key have jumped to the front of the line among newcomers who are becoming big players in a business that traditionally was dominated by banks and credit unions.
More than 44 million borrowers owe $1.4 trillion in student loan debt in 2017.
Most of them could streamline the repayment process by consolidating their student loans. Get Help With Your Student Debt It simplifies repayment and could save you money.
The Federal Direct Consolidation Loan program starts with filling out an application and promissory note at this site.