Let lenders compete to give you affordable rates on your student loan with this one-stop online marketplace.
It can be hard to fund your increasingly expensive education on your own. Whether you’d like to take out a private student loan, get a federal student loan or refinancing your existing student loans, LendingTree can connect you to one of its trusted lending partners with a single application.
| Product Name | LendingTree Student Loans |
|---|---|
| Min Loan Amount | Varies by lender |
| Max. Loan Amount | Varies by lender |
| APR | 3% (As low as) |
| Interest Rate Type | Fixed |
| Requirements | Must be a US citizen. Must have eligible expenses from an accredited school. Must have good to excellent credit or apply with a co-signer. |
- Cosigner Must be a parent (or step-parent or adopted parent) of a dependent student
- Cosigner must be a U.S. citizen or eligible non-citizen and provide Cosigner must have a valid Social Security number
- Cosigner must pass a credit check
- Cosigner cannot be in default on another federal student loan or owe a refund on any federal student aid program
- Student must be enrolled at least half-time
- Student must be less than 24 years of age
- Student must have NO dependents
- Student cannot be in default on another federal student loan or owe a refund on any federal student aid program
What makes LendingTree student loans unique?
LendingTree doesn’t lend you money directly. Rather, it can connect you to lenders that offer different types of student loans with one form.
Most students use private student loans when they’ve exceeded public student loans. Private student loans can also cover expenses that public student loans can’t, like some postgraduate expenses. Letting LendingTree do the legwork means you can spend more time comparing offers — and getting one within your budget.
Compare lender connection services vs. direct lenders
What are LendingTree student loans?
Think of LendingTree more like a matchmaker for student loans to help with you finance your associate, bachelor’s, master’s or Ph.D. education.
With this online loan marketplace, you enter your personal information along with the cost of your tuition. LendingTree submits this information to its network of lenders and directs you to loan offers you’re likely to qualify for.
If your loan is approved, the lender will require documentation to verify the college you attended or plan to attend.
What are the benefits of LendingTree student loans?
- A lot of options. LendingTree has a huge network of lenders, so it’s likely you’ll find an offer with the features you’re looking for.
- Cosigners OK. If you don’t meet all the eligibility criteria for a student loan on your own, LendingTree may be able to connect you to a variety of lenders interested in taking you on as a borrower with a cosigner.
- High limits on how much you can borrow. Requesting to borrow a lot of money doesn’t mean that you’ll get it. But unlike capped federal student loans, private student loans have more upward flexibility.
What to watch out for
LendingTree connects you to lenders using the information you provide, including full name, email address, phone number, tuition amount and credit score.
- Some users complain about multiple calls. Even if you’ve chosen a lender to work with, you’ll may continue to receive calls and emails from others still vying for your business. Once you’re on their radar, it can be hard to get off of it.
- Possible dip in credit score. LendingTree says that when they provide information about your credit score to lenders, it isn’t a hard inquiry and won’t hurt your credit standing. However, upon receiving a final loan offer, the lender will likely run a hard inquiry on your credit report to verify your information, which could cause a temporary dip in your credit score.
- Potentially expensive. Interest rates on private student loans tend to be higher than those for federal student loans.
Compare other student loan options
Am I eligible?
Finding a student loan can be tough, especially if you haven’t had time to build up your credit. Remember that LendingTree connects you with lenders, but there is no guarantee that you’ll be approved in the end.
Eligibility requirements may vary by lender, but you typically must be:
- Pursuing an associate, master’s or bachelor’s degree or a PhD.
- At least 18 years old.
- A US resident.
What do I need to do to choose a loan?
After you submit your information to LendingTree’s site, lenders will contact you with potential loan offers. According to LendingTree, your lender will likely ask for your:
- Social Security number
- Driver’s license or other form of government-issued ID
- Most recent income tax return — possibly for you and your parents
- Bank statements
- Legal documentation of residency
After submitting your information, your lender will approve or deny your request for a student loan. This process could take a couple of weeks.
I got the loan. Now what?
If you ever need to refinance your student loan, LendingTree has options for refinancing as well.
- Understand your contract before signing. Carefully read the terms and conditions to confirm they match what you agreed to with the lender.
- Watch out for fees. LendingTree itself doesn’t have any fees you need to watch out for, but the lender you use might. Make sure that you understand potential fees — like origination or early repayment fees — to avoid any surprises down the road.
- Monitor your school’s verification. Your school will need to provide proof that you plan on attending their institution, which can take a few weeks. The money is then sent to your university.
- Avoid unnecessary late payment penalties. If your lender accepts autopay, set it up to ensure that you don’t miss a payment.
Bottom line
LendingTree can be a good one-stop shop for students who want lenders to come to them. However, make sure that you’re OK with receiving multiple phone calls, emails and requests for information from lenders for awhile.
Before you pick a lender to work with, compare your full student loan options to determine one that’s a right fit for you.