The conditional approval of your loan is based on an initial credit review and is not tied to your requested loan amount, so requesting a lower loan amount will not improve your chances of being approved.

Students can apply for this loan if they are enrolled at least half-time in a degree-granting program from an approved school. This application is credit-based, so if you do not have an established credit history and a steady source of income, a cosigner may be needed. All applicants must be either a U.S. citizen or permanent resident and must be at least the age of majority in their state of residence.

You may be able to borrow up to 100% of your school-certified cost of attendance. This may include tuition, room and board, textbooks, and other related education expenses. To figure out what expenses are part of your institution’s cost of attendance, check out your school’s financial aid website or contact your school’s financial aid office directly.

We typically recommend applying at least one month prior to when the funds are due or earlier. Conditional approval for a loan may occur quickly after an initial review of your application and credit report, however it is not final approval since you may be asked to submit additional supporting documentation (e.g., proof of income, identification, etc.). Your school must also certify your loan, which may add more time to your application process. While it generally takes less than thirty days to process and certify a loan, in some instances it may take several weeks.

This loan may be used for qualified education-related expenses that are certified by your institution. This may include tuition, room & board, transportation expenses, laptop, textbooks, and related materials. To figure out what expenses are part of your institution’s cost of attendance, check out your school’s financial aid website or contact your school’s financial aid office directly.

A cosigner is not required, but it may improve your chances of getting approved. Private student loans offered on LendKey’s website are credit-based, so a credit and income review will be performed. It can be difficult as a student to have an established credit history and a steady source of income, so a cosigner may help meet the loan application guidelines. Furthermore, a cosigner with an established credit history may help you qualify for better terms that could save you money in the long-term.

Typically, your cosigner may be a parent, grandparent, guardian or other adult who is creditworthy and willing to assume legal responsibility for the loan liabilities along with you. A cosigner may increase your chances of approval or help you qualify for better terms.

The age of majority is the age at which you are considered a legal adult by your state. In most states, the age of majority is 18, but it may be higher. It is important to check to see what it is for your specific state. Our participating lenders cannot generally lend to individuals who are below the age of majority.

No, you do not have to be a full-time student to qualify for a student loan. However, you must be enrolled at least half-time in a degree-granting program from an eligible school.

Yes, this loan qualifies for our Skip-a-Payment program.

With Skip-a-Payment you have the ability to skip up to two (non-consecutive) monthly credit union loan payments each year, whenever it’s most convenient for you.

To enroll, complete the Skip-a-Pay form, indicating the month you would like to skip your payment, and return it to the Credit Union at least five days before your payment is due.