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Updated: April 18, 2022
Lend-Grow Student Loan Refinancing Review
Student Loan Refinancing
Fixed APR
i
x
While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.15% - 8.23%
Variable APR
i
x
While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.80% - 7.98%
Repayment Terms
5, 10, 15, 20, 25 years
Important Information
Rewards: Lenders offer autopay interest rate deduction
Eligibility: Minimum credit score of 680 and income of $36,000
Overall Limits: $25,000 (minimum)
The bottom line:
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.
Pros
- Matches you with local lenders who may have lower interest rates
- Cosigner release available after just 12 months
Cons
- Not available in CA, TN, MD, WI, VT, LA, WV, RI, and ND
- High minimum balance of $25,000
How does this loan compare?
|
 |
 |
|
|---|---|---|---|
| Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. |
Fixed:
2.15% - 8.23%
Variable:
1.80% - 7.98%
|
Fixed:
2.74% - 7.99%
Variable:
1.74% - 7.99%
|
Fixed:
2.49% - 7.24%
Variable:
1.74% - 7.24%
|
| Loan repayment terms (Years) | 5, 10, 15, 20, 25 years | 5, 10, 15, 20 years | 5, 7, 10, 15, 20 years |
| Cosigner release? | Yes, after 12 months on-time payments | None | None |
Full Review
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
Interest Rates, Fees and Terms
- 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
Requirements to Qualify
- 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
Repayment Options
- Fixed Monthly Repayment: Yes, Yes
Repayment Details
- 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
Customer Service
- 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
Extras
- Sponsors a Scholarship: None
Wondering how much that loan is going to cost you? Check out our free Loan Calculator!
Input your loan terms and we’ll tell you how much you can expect to pay monthly and in total