Lend-Grow Student Loan Refinancing Review
Student Loan Refinancing
Lend-Grow is a student loan marketplace that matches you with a local lender. These lenders often have lower interest rates than nationally-available student loans, but it is important to review the terms of the specific lender you are matched with to ensure it is the right choice.
How does this loan compare?
Lend-Grow is a student loan refinancing marketplace focused on locally-available lenders that do not have the advertising budgets of big banks or fintech companies. These lenders may offer lower interest rates and Lend-Grow lenders offer cosigner release after 12 months of consecutive on-time payments. Applying with a cosigner is optional. Lend-Grow's partner lenders offer death and disability discharges but forbearance details vary by lender.
Both fixed and variable interest rates are available, with a minimum income of $36,000 and a minimum credit score of 680. Your debt-to-income ratio must be below 0.45 to qualify for refinancing and you must be a U.S. citizen. You are able to check your interest rate with a soft credit check on the Lend-Grow Marketplace. Repayment terms from 5-25 years are available and you can refinance through Lend-Grow in all states except CA, TN, MD, WI, VT, LA, WV, RI, and ND.
Lend-Grow - Private Student Loan Details
- Credit Check: Soft for Rate Check, Hard for Application
- Repayment Terms: 5, 10, 15, 20, 25 years
- Minimum Borrowing Limit: $25,000
- Application Fee: None
- Origination Fee: None
- Prepayment Penalty: None
- Late Fee: Yes
- Minimum Credit Score: 680
- Minimum Annual Income: $36,000
- Maximum Debt-to-Income Ratio: 0.45
- Citizenship Restriction: Citizens or Residents
- List of States where Loan is Not Available: CA, TN, MD, WI, VT, LA, WV, RI, and ND
- Approved Schools Include: All
- Fixed Monthly Repayment: Yes, Yes
- Length of Grace Period: Not specified by lender
- Maximum Deferment Period: 12 months
- Maximum Forbearance Period: Not specified by lender
- Cosigner Release Option: Yes, after 12 months on-time payments
- Death Discharge: Yes
- Disability Discharge: Yes
- Hours of Operation (in addition to weekdays): Not specified by lender
- Application Timeline: Prequalification in 2 minutes or less, final approval in 3-5 days
- Sponsors a Scholarship: None