LendingTree Student Loans review October 2018 | finder.com

LendingTree student loans review

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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 education on your own. With rates increasing for both private and federal student loans, LendingTree can connect you to one of its trusted lending partners with a single application so you can save your time for things that really matter — like studying for exams.
Product NameLendingTree Student Loans
Min Loan AmountVaries by lender
Max. Loan AmountVaries by lender
APR3% (As low as)
Interest Rate TypeFixed
RequirementsMust 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 directly to borrowers. Instead, it works to connect you with lenders that offer different types of student loans, and you only have to fill out one application.

If you’re like many students and have exhausted your federal student loan options, a private student loan may be in your radar. Rather than spend time researching lenders filling out multiple applications, let LendingTree do the legwork for you so you can spend more time comparing offers and finding a student loan within your budget.

What are LendingTree student loans?

Think of LendingTree more like a matchmaker for student loans that can help you with financing your undergraduate or graduate education.

With LendingTree, 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?

  • Plenty 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 are 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.
  • Large loan amounts. 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

  • 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 calling list, 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.
  • Potentially expensive. Interest rates on private student loans tend to be much higher than those for federal student loans.

Compare other student loan options

Rates last updated October 17th, 2018

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Name Product Product Description Min. Credit Score Max. Loan Amount APR
Credible Student Loan Refinancing
Get prequalified offers from top student loan refinancing providers in one place.
Good to excellent credit
None
2.57%(As low as ) (variable)
SoFi Student Loan Refinancing Variable Rate (with Autopay)
A leader in student loan refinancing, SoFi can help you refinance your loans and pay them off sooner.
650
full balance of your qualified education loans
2.480% – 6.990% (variable)
Purefy Student Loan Refinancing
Refinance all types of student loans — including federal and parent PLUS loans.
620
$300,000
2.72%–9.66% (variable)
Earnest Student Loan Refinancing Variable Rate (w/ autopay)
Get a tailored interest rate and repayment plan with no hidden fees.
650
no maximum
2.47%–5.87% (variable)
PenFed Student Loan Refinancing
Straightforward refinancing with competitive rates.
700
$300,000
3.75%–7.03% (fixed)
CommonBond Student Loan Refinancing
Trade in your existing school loans for competitive APRs that come with a discount for autopay.
660
$500,000
2.72%–7.25% (with autopay) (variable)
LendingTree Student Loans
Compare multiple student loans and student loan refinancing options in one place.
Good to excellent credit
Varies by lender
3% (As low as) (fixed)

Compare up to 4 providers

Am I eligible?

Finding a student loan can be tough, especially if you haven’t had time to build up your credit. Will LendingTree can connect you with lenders, there’s no guarantee that you’ll be approved.

Eligibility requirements may vary by lender, but you typically must be

  • Pursuing an associate, bachelor’s, master’s or doctoral degree
  • At least 18 years old
  • A US citizen or permanent 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 from 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?

Once you’ve been connected to a lender, take these steps to ensure your loan will be sent to the right place by your school’s payment deadline.

  • Understand your contract before signing. Carefully read the terms and conditions to confirm they match what you agreed to with the lender.
  • 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.
  • Watch out for fees. LendingTree itself doesn’t have any fees you need to watch out for, but your lender might. Make sure that you understand potential fees — like origination or early repayment fees — to avoid any surprises down the road.
  • Avoid unnecessary late payment penalties. If your lender accepts autopay, set it up to ensure that you don’t miss a payment.

If you ever need to refinance your student loan, LendingTree has options for refinancing as well.

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.

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