LendEDU Review

Top10.com Staff

In a Nutshell

LendEDU is a loan marketplace that offers financial assistance and educational tools to help people assess their options and then figure out the best course of action for them. One of the main offerings includes private student loans for those who have maxed out or are not eligible for federal funding. With a wide network of partners, online tools, and an excellent comparison tool, LendEDU competes with the top lending marketplaces online today.


  • Fabulous educational resources for students
  • Huge network of lenders for competitive rates
  • Fast and easy online tools


  • Not a direct lender
  • Not as many lenders as some marketplaces

LendEDU LendEDU Visit Site

LendEDU at a Glance

Loan Types: Undergrad, postgrad

Loan Amount: Up to 100% of school-certified costs/Varies based on lender

Repayment Terms: 5-20 years (can start paying back after school)/Varies based on lender

APRs from: 3.99%

Minimum Credit Score: 700, cosigners available

Fees: Varies based on lenders


LendEDU is a financial marketplace that offers more than your average lender. It offers student loan refinancing, personal loans, credit card consolidation loans, and private student loans, covering all the bases. More than that, though, LendEDU provides consumers with financial education, so they can become informed about how finances work and how to make responsible, intelligent financial decisions. And all these resources are available completely for free.

LendEDU is highly acclaimed in the finance world, having been featured in several prominent publications including The New York Times, TechCrunch, Wall Street Journal, Bloomberg, CBS News, CNN, Fox News, Business Insider, Forbes, Yahoo! Finance, Huffington Post, and more.

Best For?

Students who maxed out their federal loans funds and those who just want an excellent resource for financial education will benefit greatly from LendEDU's services.

Loan Features

Bear in mind that LendEDU does not provide the loans themselves. Instead, it is a resource for borrowers to find the best private student loans available to them. So, what does LendEDU do? It is basically an online resource to make the borrowing process a lot smoother, easier, faster, and cheaper than it would be if you did things on your own. LendEDU connects students with the best lenders for their situation, so you don’t waste time barking up the wrong tree.

It also offers a convenient way to compare different rates and offers you receive. This way you can be sure that you are getting the best rates for you. And remember, this is a free service that doesn't affect your credit score. So, it's a win-win situation any way you look at it. 

Depending on the lender, you’ll find various benefits, terms, and requirements. For example, one lender (PNC) that LendEDU works with offers an automatic 0.50% interest reduction for students who opt into automatic payments while in school. Read through the terms and conditions carefully for each lender before signing on a loan.

Aside from being an excellent resource for comparison shopping and competitive rates shopping, here’s where LendEDU really shines:

  • Educational Materials

In addition to having competitive rates and being a useful comparison tool, LendEDU is all about educating its clients, so they can go on to make confident and intelligent financial choices in the future. This is a big benefit for anyone who is eager to learn the ropes of finance. It also ensures that the student generation of today will become adults of tomorrow who can make responsible financial decisions, affecting the world in general.

  • One Tree Planted

On top of being a valuable resource for borrowers in need, LendEDU is doing its part to make the world better as well. For every loan taken out through its organization, LendEDU will plant a tree through One Tree Planted in an effort to create a better world for us and future generations. It's not a guarantee that you'll get the best loan around, but it is always nice to work with a brand that also has global conscience awareness.

The Application Process

LendEDU has a simple online application. It asks basic questions like what school you're attending and your email. LendEDU will run your information through its database of lenders to see if you qualify for any of these loans. If you do, you'll be put in touch directly with the lender to start making arrangements for your loan. Note that you have no obligation to take the loans being offered. They are just suggestions.

LendEDU lenders offer cosigner loans to make the approval process more likely. One other aspect that makes LendEDU really unique is the scholarship fund it has set up to help students lower student debt. If you do not qualify for a loan, you can still qualify for the LendEDU scholarship fund that is totally free.

Eligibility Requirements

Since LendEDU is not the direct lender, it does not set the eligibility requirements. Instead, those are set by the individual lender you are working with. The typical requirements include things like:

  • US citizen

  • Close to 700 credit score (lower than this and you can still get a loan with a cosigner)

  • College or university documentation

  • Proposed field of study

  • Reasonable debt-to-income ratio

Loan Rates

As with eligibility, LendEDU has no say in terms of loan rates and cosigners. The lenders that work within this marketplace have varying rates that start from 3.99%. The rates you receive will depend on several factors including how much money you ask for, what your credit score is, and what lengthrepayment terms you’re asking for. In general, the better your credit score is, the lower your APR will be. Choosing between fixed and variable rates will also factor into the equation.

Additionally, cosigners can be of help in several ways. For example:

  • You're more likely to be approved for a loan with a cosigner.

  • You can lower your interest rate by adding a cosigner. In a study done recently, LendEDU found that a co-signer lowered interest rates by 1.49%.

  • You will have more accountability to ensure that you make monthly payments on time and consistently, thereby avoiding pricey late fees and seriously negative repercussions to your credit history.

Most lenders offer cosigners a release from the loan responsibility. The amount of time before the co-signer is released will vary from lender to lender. For example, Sallie Mae offers release after just 12 on-time payments while other lenders require a minimum of 15.

Repayment Terms

LendEDU also does not determine the repayment terms and APR (as mentioned above). Partner lenders offer loans ranging from 5- to 20-year repayment plans, and most of them do not charge a prepayment penalty. This means you can pay the loan back early (and save yourself on the interest) without being charged a penalty fee.

Most lenders will offer various types of repayment options including:

  • Full payments per month while in school

  • Partial payments per month while in school

  • Interest-only payments each month while in school

  • Full deferment until school ends

How Safe is It?

LendEDU states that it employs strict security policies and procedures to protect your data. Access is restricted, and physical, electronic, and procedural barriers are in place based on federal and state regulations.

Customer Service

Customer service can be reached via telephone at (800) 928-3940 or email at support@lendedu.com.

LendEDU LendEDU Visit Site

How LendEDU Compares

Laurel Road
APR from
1.04%-11.10% (with autopay)*
Minimum credit score
Loan amounts
Varies based on lender
$1,000 to full cost of tuition
$5,000-total cost of attendance
Accepts co-signers
Best for
Students who want a good financial education
Students looking for extremely competitive rates
Students who are specializing in the medical fields


LendEDU is an amazing resource for students who need to cover the gap in their finances during their schooling years. The online tools are helpful for comparing rates, the educational materials are an invaluable way to get a solid understanding of finances, and LendEDU’s website is even easy to use. Two thumbs up for this lending marketplace.

Top10.com's editorial staff is a professional team of editors and writers with dozens of years of experience covering consumer, financial and business products and services.

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22 Jan 2021

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