Seeking the Best Coding Bootcamps? Here are 5 Great Options

 January 21, 2020
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Are coding bootcamps worth it? And which are the best coding bootcamps to look at?

For that first question, part of the answer will depend on what job you’re shooting for. According to the Bureau of Labor Statistics, the median salary for a software engineer is $105,590 per year, with openings expected to grow an impressive 21% by 2028. But for computer programmers, the median pay is $84,280, with openings expected to shrink by 7% in the next eight years, as employers outsource some of these jobs overseas.

At the end of the day, what kind of jobs you can get with a coding bootcamp education will depend a lot on the school. Wherever you go, you’ll want to first check what kind of work (and salary) recent graduates are getting. Only once you’re satisfied with the likely outcome should you sign up for bootcamp.

But where can you find coding schools with successful grads? Here are some solid options to help you begin your search.

1. The FlatIron School
2. CodeSmith
3. Tech Elevator
4. FullStack Academy
5. Bloc

Plus, here’s some more information to keep in mind:

Are coding bootcamps worth it?
Paying for coding bootcamp
Deciding on coding bootcamps

Coding bootcamp reviews: Our picks

There are many bootcamps out there, but unfortunately not all of them are reputable.

To come up with this list of the good bootcamp choices, we looked at several factors. First, we only considered bootcamps that submitted Council on Integrity in Results Reporting documents detailing their graduation rates and employment rates. The Council is a non-profit organization that uses a common framework for documenting student outcomes.

We also looked for bootcamps where graduates at least earned a higher average starting salary than the national average for all U.S. jobs, which was $51,960 in 2018. And likewise, we considered whether a school offers a money-back guarantee (most do not), what its total program cost is, and what kind of financing options are available.

Note that the information below is provided by the schools, so make sure to do your homework by checking out a variety of coding bootcamp reviews for the schools you’re considering. With that said, here are some of the schools that we liked:

1. The FlatIron School

  • Employment rate: 93% for online and on-campus students
  • Starting salary: Average of $72,000 for online students; $76,000 for on-campus students
  • Cost:
    • $9,600 to $15,000 for online programs
    • $17,000 for on-campus programs
  • Money-back guarantee: Yes

Locations

The FlatIron School, which is part of the WeWork company, has campuses in Atlanta, Austin, Chicago, Denver, Houston, New York, San Francisco, Seattle, and Washington, D.C. It also recently opened a campus in London in the United Kingdom.

If you don’t live near one of the available campuses, the FlatIron School also offers online-learning options.

Curriculum

The FlatIron School offers several different courses. Courses range from 12 weeks to 24 weeks, but there are also self-paced options.

  • Software engineering: Students learn full-stack Javascript and Ruby. Upon completing the program, graduates can get jobs as web developers.
  • UX/UI Design: In this course, students learn user experience, client management, and technical skills so graduates can begin careers as UX or UI designers.
  • Data Science: In this course, students learn how to become data scientists.
  • Cybersecurity Analytics: The Cybersecurity Analytics teaches students how to handle technology threats.

Financing options

The FlatIron School allows you to make upfront payments, or, if you’re an online-only student, you can make monthly installment payments.

The school offers financing through its partners, the Skills Fund and Climb. Through these lenders, you can take out a loan and repay it over 36 to 42 months. Both also allow you to borrow an extra $7,500 above the price of tuition cost, so as to cover the cost of living.

The FlatIron School also offers income share agreements. With this option, you defer your tuition until after you graduate and start earning at least $40,000 per year.

2. CodeSmith

  • Employment rate: 87% of students at the Los Angeles campus graduate on time
  • Starting salary: Median starting salary is $117,500 for Los Angeles graduates
  • Cost:
    • $18,800 for the full-time software engineering immersive on-campus program
    • $12,500 for the part-time remote software engineering program
  • Money-back guarantee: No

Locations

CodeSmith operates two locations: Los Angeles and New York. Students also have the option of enrolling online in a part-time program.

Curriculum

Whether you’re a full-time student on-campus or a remote student, CodeSmith is focused on software engineering. You’ll develop skills in computer science, front-end development, back-end development and the latest technology. By the end of the program, you’ll have a portfolio of work to show potential employers.

The full-time program is immersive, with students spending at least 70 hours per week learning and practicing over the course of 12 weeks. The remote, part-time option is spread out over nine months.

Financing options

CodeSmith offers financing through two lenders, Climb and the Skills Fund. The school also has several scholarships in place for women, minorities and military veterans.

3. Tech Elevator

  • Employment rate: 94%
  • Starting salary: Graduates earn an average starting salary of $58,000
  • Cost: $15,500
  • Money-back guarantee: No

Locations

Tech Elevator offers in-person bootcamps in Cleveland, Columbus, Cincinnati, Detroit, Pittsburgh and Philadelphia. Unlike some of the other companies on this list, Tech Elevator does not offer a remote or online option.

Curriculum

The program lasts for 14 weeks, and you must make a full-time commitment. Depending on your bootcamp selection, you’ll learn either Java or .NET language. By the end of the program, you’ll be able to design web applications. The curriculum also covers HTML, CSS, JavaScript and SQL.

Financing options

With Tech Elevator, you can pay all at once or in installments. If you need financing help, the company partners with Sallie Mae and the Skills Fund to offer loans.

Tech Elevator is also an eligible training provider in select states under the Workforce Innovation & Opportunity Act. In some cases, you may qualify for grants through the program.

4. FullStack Academy

  • Employment rate: 66.7% of students in the New York location are employed within 180 days of graduating
  • Starting salary: Median salary for New York graduates is $90,000
  • Cost:
    • New York location: $17,910
    • Chicago location: $15,910
  • Money-back guarantee: No

Locations

FullStack Academy operates campuses in New York and Chicago. There are currently no online learning options.

Curriculum

FullStack Academy has both a full-time and part-time bootcamp. The full-time version spans 13 weeks and is completely immersive. In the course, you’ll learn how to become a software engineer. You’ll develop skills in front-end and back-end development, as well as integrating databases into your applications.

The part-time option is only available in New York. It covers the same material as the full-time bootcamp, but it’s spread out over 28 weeks.

Financing options

Financing is available through Upstart and the Skills Fund. In addition to the tuition, you can also borrow money to cover your living expenses during the bootcamp.

5. Bloc

  • Employment rate:
    • Designer Track: 96.3% are employed within 180 days of completion
    • Web Developer Track: 83% are employed within 180 days of completion
  • Starting salary:
    • Designer Track: Median salary is $67,500
    • Web Developer Track: Median salary is $60,000
  • Cost:
    • Designer Track: $8,500
    • Web Developer Track: $7,500
  • Money-back guarantee: Yes

Locations

Unlike with the other bootcamps on this list, the programs at Bloc are entirely online. Bloc does not have an in-person campus to attend.

Curriculum

When you become a Bloc student, you have up to eight months to complete the program.

In the Designer Track, you’ll learn the design components of UI/UX, as well as other front-end development skills. With the Web Developer Track, you’ll learn full-stack JavaScript and computer science fundamentals.

Both tracks are entirely self-paced. If you need additional time to complete the curriculum, you can add months for an additional fee.

Financing options

Bloc offers financing through the Skills Fund. If you go this route, you can have up to five years to repay your loan. If you finish the program before the full eight months, you’ll get a pro-rated refund.

Bloc does offer a tuition reimbursement guarantee. If you don’t get a job within six months of completing your Bloc program, you can get your money back.

Are coding bootcamps worth it?

When deciding whether to attend a coding bootcamp, consider these benefits and drawbacks:

Pros

  1. You can switch careers within just a few months: If you’ve always wanted to switch careers, you can get through a coding bootcamp within just a few months. That timeframe is a much smaller commitment than the years it would take to get a bachelor’s or master’s degree.
  2. You can increase your earning potential: If you’re stuck in a low-paying job, you may be able to earn significantly more money after completing a coding bootcamp.
  3. It costs less than a four-year degree: According to College Board, a single year at a public, four-year university will run you $9,410, on average. Go to a private school, and that number jumps to $32,410. That means a four-year degree could cost anywhere from $37,640 to $129,640.

Cons

  1. You’ll need to be technology savvy to succeed: While some programs say they’re suitable for beginners, you’ll need to have some technology skills to succeed.
  2. You may have to leave your job: Most coding bootcamps are completely immersive, meaning you have to dedicate all of your time to the program. You’ll have to leave your job (or take leave), eliminating your income for that time.
  3. A bootcamp doesn’t replace a degree: While you can learn a great deal in a coding bootcamp, they don’t replace a computer science degree. A 2017 survey of tech recruiters and HR managers by jobs site Indeed found that 41% would prefer job applicants to have a four-year degree, so only attending a coding bootcamp could limit your employment options.
  4. Loans for bootcamps tend to be expensive: Coding bootcamps don’t qualify for most student loans. Instead, you’ll have to turn to lenders that offer loans just for coding bootcamps or personal loan lenders. These tend to have higher interest rates than you’d get with student loans, making them more costly, and the repayment terms also tend to be shorter.

If you decide that attending a coding bootcamp is right for you, make sure you do your research ahead of time. Even with the schools on this list, look for information on their costs, employment rates, career services departments, and their refund policies. As the demand for bootcamps grows, more and more companies are popping up — and not all of them are worth your time and money.

Paying for coding bootcamp

As noted above, coding bootcamps aren’t eligible for federal student loans or even most private student loans. If you need help paying for your education, consider these other options:

Specialty loans

While you won’t be able to get federal student loans, there are loans for bootcamps available. Lenders like Climb, the Skills Fund and Upstart offer loans specifically designed for coding bootcamps.

These three lenders work only with certain coding bootcamps, however, so double check with the lender to see if your selected school qualifies.

Income share agreements

Another option is income share agreements. Some schools allow you to defer tuition until after you graduate and get a job. Once you find work and are making a predetermined level of salary, you’ll use a set portion of your income to repay the money you received. Not all schools offer this option, but talk to the school’s admissions department to see if an income share agreement is available.

Personal loans

If you have good credit, you may be able to get a lower interest rate and longer repayment term with a personal loan, rather than a specialty school loan. Personal loans are unsecured, meaning you don’t have to use any property as collateral.

Deciding on coding bootcamp

Coding bootcamps can be a great way to learn a new skill and transition to a new career. However, not all programs are the same in terms of cost and quality, so do some research before submitting your application and deposit. Look at the schools’ Council on Integrity in Resulting Reporting submission and evaluate your own finances to decide which coding bootcamp is best for you.

Melanie Lockhert contributed to this report.

The information in this article is accurate as of the date of publishing.

Interested in refinancing student loans?

Here are the top 9 lenders of 2021!
LenderVariable APREligible Degrees 
1.88% – 6.15%1Undergrad
& Graduate

Visit Splash

1.88% – 5.64%2Undergrad
& Graduate

Visit Earnest

2.50% – 6.85%3Undergrad
& Graduate

Visit CommonBond

1.89% – 5.90%4Undergrad
& Graduate

Visit Laurel Road

1.99% – 6.59%5Undergrad
& Graduate

Visit SoFi

1.88% – 5.64%6Undergrad
& Graduate

Visit NaviRefi

1.90% – 5.25%7Undergrad
& Graduate

Visit Lendkey

2.39% – 6.01%Undergrad
& Graduate

Visit Elfi

2.13% – 5.25%8Undergrad
& Graduate

Visit PenFed

Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Splash Financial.

Splash Financial Disclosures

Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance. The rates displayed may include a 0.25% autopay discount

The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.

To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet our lending partner’s underwriting requirements. Lowest rates are reserved for the highest qualified borrowers. This information is current as of June 1, 2021.


2 Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.

Earnest Disclosures

Interest Rate Disclosure

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 2.48% APR to 5.79% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.88% APR to 5.64% APR (excludes 0.25% Auto Pay discount). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 36% (the maximum allowable for these loans). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 2.04% and 5.8% to the one month LIBOR. Earnest rate ranges are current as of 6/8/2021, and are subject to change based on market conditions.

Auto Pay Discount Disclosure

You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay.

Student Loan Refinancing Loan Cost Examples

These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 5.89% APR would result in a total estimated payment amount of $17,042.39. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 6.04% APR would result in a total estimated payment amount of $17,249.77. Your actual repayment terms may vary.Terms and Conditions apply. Visit https://www.earnest. com/terms-of-service, e-mail us at [email protected], or call 888-601-2801 for more information on our student loan refinance product.

Earnest Loans are made by Earnest Operations LLC or One American Bank, Member FDIC. Earnest Operations LLC, NMLS #1204917. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit earnest.com/licenses for a full list of licensed states. For California residents (Student Loan Refinance Only): Loans will be arranged or made pursuant to a California Financing Law License.

One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Earnest loans are serviced by Earnest Operations LLC with support from Navient Solutions LLC (NMLS #212430). One American Bank and Earnest LLC and its subsidiaries are not sponsored by or agencies of the United States of America.

© 2021 Earnest LLC. All rights reserved.


3 Important Disclosures for CommonBond.

CommonBond Disclosures

Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. ‍All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.


4 Important Disclosures for Laurel Road.

Laurel Road Disclosures

All credit products are subject to credit approval.

Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.

As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.

  1. Checking your rate with Laurel Road only requires a soft credit pull, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score.
  2. Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.
  3. After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship. During any period of forbearance interest will continue to accrue. At the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principle amount of the loan.
  4. Automatic Payment (“AutoPay”) Discount: if the borrower chooses to make monthly payments automatically from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically from the borrower’s bank account. The 0.25% AutoPay discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.

Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.

Interest Rate: A simple annual rate that is applied to an unpaid balance.

Variable Rates: The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%.

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

This information is current as of April 29, 2021. Information and rates are subject to change without notice.
 


5 Important Disclosures for SoFi.

SoFi Disclosures

Fixed rates from 2.49% APR to 6.94% APR (with autopay). Variable rates from 1.99% APR to 6.59% APR (with autopay). All variable rates are based on the 1-month LIBOR and may increase after consummation if LIBOR increases; see more at SoFi.com/legal/#1. If approved for a loan your rate will depend on a variety of factors such as your credit profile, your application and your selected loan terms. Your rate will be within the ranges of rates listed above. Lowest rates reserved for the most creditworthy borrowers. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. SoFi loans are originated by SoFi Lending Corp. or an affiliate (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license #6054612; NMLS #1121636 (www.nmlsconsumeraccess.org). Additional terms and conditions apply; see SoFi.com/eligibility for details. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.


6 Important Disclosures for Navient.

Navient Disclosures

1. NaviRefi loans are made by Earnest Operations LLC, a member of the Navient family of companies, subject to individual approval and underwriting criteria. California residents only: Loans made or arranged pursuant to a California Finance Lenders Law license. Additional terms and conditions apply.

– To qualify, you must be a U.S. citizen or non-citizen permanent resident of the United States, reside in a state we lend in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.navirefi.com/help-and-questions. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Loan terms are subject to eligibility. Approval and interest rate depend on the review of a complete application. Loan approval is subject to confirmation that your debt-to-income, free cash flow, credit history and application information meet the minimum requirements. You must have a minimum FICO score to be considered.

– You can choose between fixed and variable rates. Fixed interest rates are 2.75% – 6.04% APR (2.50% – 5.79% APR with Auto Pay discount). Starting variable interest rates are 2.13% – 5.89% APR (1.88% – 5.64% APR with Auto Pay discount). Variable rates are based on an index, the 30-day Average Secured Overnight Financing Rate (SOFR) plus a margin. Variable rates are reset monthly based on the fluctuation of the index. We do not currently offer variable rate loans in AK, CO, CT, HI, IL, KY, MA, MN, MS, NH, OH, OK, SC, TN, TX, and VA.

– You can take advantage of the 0.25% Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. NaviRefi rate ranges are current as of June 1, 2021 and are subject to change based on market conditions and borrower eligibility.

– Loan cost examples: These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 5.89% APR would result in a total estimated payment amount of $17,042. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 6.04% APR would result in a total estimated payment amount of $17,250. Your actual repayment terms may vary.

– The information provided on this page is updated as of 06/1/2021. Earnest Operations LLC reserves the right to modify or discontinue (in whole or in part) this loan program and its associated services and benefits at any time without notice. Check www.navirefi.com for the most up-to-date information. Terms and Conditions apply. Call 855-284-4893 for more information on our student loan refinance product.

– Earnest Operations LLC – NMLS #1204917, CA CFL #6054788 – 535 Mission St., Suite 1663, San Francisco, CA 94105.
Navient Solutions, LLC – NMLS #212430 – 123 Justison St., Wilmington, DE 19801. Visit https://navirefi.com/lending-licenses for a full list of licensed states.


7 Important Disclosures for LendKey.

LendKey Disclosures

Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it  endorse,  any educational institution.

Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised variable APR is only available for loan terms of  5 years and is reserved for applicants with FICO scores of at least 810.

As of 04/07/2021 student loan refinancing rates range from 1.90% APR – 5.25% Variable APR with AutoPay and 2.49% APR – 7.75% Fixed APR with AutoPay.


8 Important Disclosures for PenFed.

PenFed Disclosures

Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 2.89%-4.78% APR and Variable Rates range from 2.13%-5.25% APR. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed 9.00% for 5 year and 8 year loans and 10.00% for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be 2.00%. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.