Lend-Grow Student Loan Refinance Review

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Find the best student loan refinance lenders

Lend-Grow’s online marketplace of over 1,000 lenders offers US borrowers student refinance loans ranging from $5,000 to $500,000. Whether or not a program has ended, borrowers can refinance federal funds or private student loans used for professional courses or towards associate, bachelor’s or master’s degrees. Additionally, parents can apply to refinance Parent PLUS loans through the Lend-Grow Marketplace.

Initially, student loan refinance matches will be limited to 10,000 customers.

Lend-Grow connects borrowers with community banks and credit unions who have less exposure than other lenders, but who may have competitive rates and terms. The idea is that borrowers can get the best possible student loan refinance deals because lenders compete for their business.

Borrowers can complete an online form to see if they are prequalified, which may result in offers from lending partners.

Once an offer is chosen, the borrower is directed to the lender’s website to continue the application process. The time between approval and disbursement depends on the lender.

Select borrowers in certain states may enroll in Lend-Grow’s Payback Rewards program. Payback Rewards will deposit 0.10% APR of your loan amount each month for up to three years, as long as your account is active and you pay on time.

Loan terms are five, 10, 15, 20 and 25 years, with fixed interest rates starting at 2.8% and variable rates starting at 1.89%. You can refinance from $5,000 to $500,000 in federal and private student loans, and limits vary depending on whether your student loans were used for undergraduate, graduate, or professional degree programs.

Lend-Grow lending partners do not charge for either prepayment penalties nor any set-up or application fees.

Lend-Grow offers a 0.10% rebate on autopay which is factored into their pricing.

If you’re looking to lower your payment, you can consider longer-term or variable-rate loans. Online market lenders offer rates based on your credit history, income, length of loan, and type of interest rate.

Federal or private student loans for undergraduate, graduate or professional programs are eligible for refinancing. If you have not completed your program, you are still eligible for Lend-Grow refinancing. In addition, parents can refinance the Parent PLUS loans they took out to pay for their children’s education.

Lend-Grow allows you to pre-qualify and check your rate using a soft inquiry it won’t hurt your credit. Apply with a solvent co-signer can help you take advantage of refinancing when you cannot qualify on your own. A co-signer can also help you get a better interest rate on your refinance.

Lend-Grow matches lenders with borrowers based on credit profile, income, loan term and interest rate type. Therefore, minimum credit scores depend on the lender and the loan.

The company’s online prequalification process will verify your credit eligibility and rate without harming your credit.

Lend-Grow operates in the United States and facilitates the processing of student loans between borrowers and local lending partners.

Lend-Grow has neither a rating with the Better Business Bureau nor a Trustpilot score and no complaints have been registered in the Consumer Financial Protection Bureau’s consumer complaint database.

Borrowers should direct questions about loan offers or applications to Lend-Grow and specific loan issues to lenders. You can find your lender’s contact details in your loan offer and contact Lend-Grow at [email protected]

Lend-Grow is an online marketplace that connects lenders with borrowers looking to refinance student loans. You can prequalify, explore the best rates for your credit profile, and be matched with the best loan deal for you through the Lend-Grow website.

Once you have accepted an offer, Lend-Grow is no longer involved in the loan process. You will be redirected to the lender’s website to complete the loan application, and the lender funds your loan and handles your payments.

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