Study: What Americans Want to Know About Money in Every State

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Have you ever turned to the internet for help making a financial decision or managing your money? If so, you’re not the only one, according to our recent study of online searches.

We wanted to see what money questions people are Googling and how those queries vary from state to state and city to city. We also included the District of Columbia in our research.

To find out what Americans are searching for, we collected and analyzed results for popular money-related search terms, from getting a credit card to managing retirement accounts. Here’s what we found.

Key findings


Using Google Trends, we found that a few money-related search terms have become more popular throughout the U.S. in the past 12 months.

  • The new tax bill and the Equifax data breach have been among the biggest money-related news topics in the past year. Searches for “tax bill” are up 1,000%, and people are searching more often for both “Equifax” and “Equifax data breach.”
  • Queries for cryptocurrency-related terms have shot up. Searches for “Bitcoin value” and “Bitcoin price” were more common around the time the cryptocurrency’s value peaked in late 2017. This event also bumped up similar searches for other cryptocurrencies, such as Ethereum, Litecoin, and Ripple.
  • People are searching for “deposit account” and “certificate of deposit” (CD) more often. With interest rates on the rise, savers might have more incentive to find high-yield savings accounts or take advantage of CDs.
  • An increasingly popular source of personal finance advice is Reddit. One of the fastest-growing queries related to this topic is for the “r/personalfinance” subreddit. Searchers also want to find the “Reddit personal finance flowchart.”

The most-Googled money term in each state


Through our Google Trends analysis, we found that money-related queries can and do vary across the nation. In some states, online users are focused on their debt; in others, they look ahead to save for retirement. And some states’ residents are focused on scraping by.

Even within a state, the financial topics users Google vary by city and metropolitan area. While Angelenos worry about their debt, for instance, people in San Francisco search for investment- and tax-related terms.

Below are the full results of our analysis of the personal finance-related search terms we researched. You can find the most-searched money topics in your city or state and see how you compare to others in your area.

They reveal what financial questions people in your area have or what money moves they’re preparing to make. Maybe you have the same questions, or perhaps you’re already well-informed about that aspect of managing your finances.

Alabama: ‘Build credit’

  • Birmingham: “loan payment”

  • Mobile: “buy a car”

  • Montgomery: “credit score,” “student loan forgiveness,” “bankruptcy”

Overall, Alabamians are most concerned with managing their credit and payments, with top searches such as “build credit” and “loan payment.”

Alaska: ‘Compound interest’

  • Juneau: “cryptocurrency,” “mortgage rates,” “IRA”

Alaska residents want to not only understand compound interest but also earn it by investing in stocks. And despite the fact that Alaska has no state income tax, “tax bracket” is a popular search term.

Arizona: ‘Debt to income’

  • Phoenix: “pay off debt,” “refinance car loan,” “title loan”

  • Tucson: “debt relief,” “compound interest”

The financial focus in Arizona is securing and paying off debt. In addition to “debt to income,” Google users in the Grand Canyon State also search for “refinance car loan” and “late payment.”

Arkansas: ‘Saving money’

While no Arkansas cities showed up in the Google Trends searches included in this study, it’s a good sign that so many online searches in the state are for “saving money.” Other top terms in the state include “loan payment” and “Social Security.”

California: ‘Cryptocurrency’

  • Los Angeles: “late payment,” “late fee,” “debt repayment,” “best credit card”

  • Monterey: “retirement planning”

  • Palm Springs: “refinance mortgage”

  • San Diego: “HELOC,” “cryptocurrency”

  • San Francisco: “Bitcoin,” “401k,” “capital gains,” “index funds,” “tax bracket,” “tax deduction”

Many California residents are focused on the investing trends of the moment. “Cryptocurrency” and “Bitcoin” are top searches.

Search terms are highly regional in this state too. Los Angeles residents are focused on keeping up with debt payments, while San Franciscans are all about investing and minimizing their tax liabilities.

Colorado: ‘Capital gains’

  • Colorado Springs: “student debt,” “personal loan,” “reverse mortgage”

  • Denver: “capital gains,” “HELOC,” “consolidate debt”

  • Grand Junction: “home loan”

The focus in Colorado on “capital gains” shows an interest in investing. But home financing-related terms such as “reverse mortgage,” “mortgage rates,” and “buy a home” are also popular.

Connecticut: ‘401k’

  • Hartford: “new credit card”

Connecticut residents might be focused on building their nest eggs, as evidenced by top searches such as “401k” and “invest in stocks.” They also search for “income tax.”

Delaware: ‘Bankruptcy’

Despite no Delaware cities turning up in our Google Trends search, the state has a clear financial focus: dealing with personal debt and credit. It’s where “bankruptcy” is Googled most often. Residents also search for “FICO score” and “credit report.”

District of Columbia: ‘Public Service Loan Forgiveness’

It’s unsurprising that people who live and work in the nation’s capital have a greater interest in Public Service Loan Forgiveness (PSLF). With so many government jobs in Washington, D.C., many of its residents with federal student loans could be eligible for PSLF.

Other top search terms in this area focus on saving and investing: “return on investment,” “brokerage account,” and “index fund.”

Florida: ‘Credit card’

  • Fort Myers: “CD rates,” “reverse mortgage,” “buy a home”

  • Gainesville: “Public Service Loan Forgiveness”

  • Jacksonville: “buy a home”

  • Miami: “car lease,” “auto lease,” “best credit card,” “cryptocurrency”
  • Tallahassee: “return on investment,” “how to invest,” “cash flow”

  • West Palm Beach: “net worth,” “car lease,” “FHA loan,” “FICO score,” “CD rates”

Floridians are focused on credit cards, ranking for “credit card” and “pay off credit card.” They also want to improve their credit; another top search term is “increase credit score.”

Georgia: ‘Credit report’

  • Albany: “life insurance,” “Social Security,” “Public Service Loan Forgiveness”

  • Atlanta: “car note,” “net worth,” “debt snowball”

  • Columbus: “bank account,” “how to invest,” “certificate of deposit”

  • Savannah: “FICO score”

Overall, managing debt and credit is a major focus for Georgians. Popular search terms include “credit report,” “car note,” and “build credit.”

Hawaii: ‘Bitcoin’

  • Honolulu: “HELOC,” “Bitcoin,” “property tax”

Bitcoin is making waves in this island state, where it’s searched for more often than anywhere else in the U.S. Hawaii residents also search for “how to invest” and “HELOC,” or home equity line of credit.

Idaho: ‘Home loan’

  • Boise: “debt ratio,” “home loan,” “car insurance,” “debt consolidation”

  • Twin Falls: “loan calculator”

It’s no surprise Idaho residents are searching for “home loan” — Boise has one of the hottest housing markets in the U.S., according to a March 2018 report from Realtor.com.

Other top search terms in the state are related to debt too: “loan calculator” and “compound interest.”

Illinois: ‘Property taxes’

  • Chicago: “late fee,” “car note,” “home insurance”

  • Peoria: “auto loan”

  • Springfield: “income tax”

In Illinois, residents are searching for “property taxes” and “income tax.” Illinois has the second-highest property tax rate in the nation, reported The New York Times in March 2018.

Indiana: ‘Debt snowball’

  • Evansville: “buy stocks,” “pension”

  • Indianapolis: “debt snowball,” “return on investment,” “how to budget”

  • Lafayette: “car insurance,” “debt consolidation,” “business loan”

The debt snowball method is a popular way to pay off debt, and Indiana residents search for this term more often than the rest of the nation. Other top search terms include “debt repayment” and “return on investment.”

Iowa: ‘How to budget’

  • Cedar Rapids: “what is APR”

  • Des Moines: “compound interest”

Iowans are starting with the basics of money management and searching for “how to budget” more than any other state. But they’re also looking up advanced topics such as “invest in stocks” and “compound interest.”

Kansas: ‘Financial planning’

  • Topeka: “sales tax”

Kansas residents want a plan in place for their money, as their Google queries for “financial planning,” “saving money,” and “retirement planning” show.

Kentucky: ‘Pension’

  • Bowling Green: “pension,” “refinancing mortgage”

  • Lexington: “pension”

  • Louisville: “get out of debt,” “debt calculator,” “debt repayment,” “pension”

Recent policy debates over pay for teachers in Kentucky are likely the reason so many people in the state are searching for the term “pension.” Kentucky residents also are searching for the terms “get out of debt” and “student loan forgiveness.”

Louisiana: ‘Payday loan’

  • Baton Rouge: “payday loan,” “net worth”

  • Lafayette: “checking account,” “mortgage rates”

  • Monroe: “checking account,” “payday loan”

  • Shreveport: “payday loan,” “personal loan”

Lots of Louisiana residents might be in need of fast cash; it’s the state where “payday loan” is searched for the most. Residents are looking into other essential financial products as well, as they’re also searching for “auto insurance” and “checking account.”

Maine: ‘Savings calculator’

  • Bangor: “FHA loan”

  • Portland: “retirement savings”

This state’s Google users stand out for their interest in funding their retirement accounts. Maine searches for “savings calculator” and “retirement savings” more than other states, and “savings rates” is another popular search in the state.

Maryland: ‘Tax credit’

  • Baltimore: “tax credit,” “retirement savings”

Maryland residents have more varied financial searches. “Tax credit,” “overdraft fee” and “how to invest” are all searched for more in this state than elsewhere in the U.S.

Massachusetts: ‘Refinance student loans’

  • Boston: “IRA,” “savings rates,” “refinance student loans”

Massachusetts is home to famed institutions such as the Massachusetts Institute of Technology and Harvard, so it’s no surprise student loans are on many residents’ minds. In addition to searching for “refinance student loans,” they also search for information about retirement savings. These searches  include “401k” and “IRA.”

Michigan: ‘How to make more money’

  • Alpena: “credit union,” “401k”

  • Detroit: “invest in stocks,” “car lease”

  • Lansing: “Public Service Loan Forgiveness,” “student debt,” “401k”

In Michigan, many residents are looking to find out how to make more money. According to data from the Bureau of Labor Statistics (BLS), the state’s average annual earnings of $48,300 are behind the national average of $50,620. Other common searches include “credit union” and “car note.”

Minnesota: ‘Property tax’

  • Duluth: “property tax”
  • Minneapolis: “property tax,” “debt snowball,” “index funds”

Interestingly, this state has average property tax rates, according to WalletHub, despite so many Minnesotans searching for “property tax” and “property taxes.”

Mississippi: ‘Social Security’

  • Biloxi: “buy a car,” “payday loan,” “credit report”

  • Columbus: “loan payment,” “what is interest”

  • Greenville: “payday loan,” “Social Security”

  • Jackson: “title loan,” “what is interest,” “saving money”

  • Meridian: “life insurance,” “health insurance”

Mississippi has a weak economy, according to a March 2018 Business Insider study. Many Mississippians use Google to find financial help and learn about Social Security benefits, credit reports, and title loans.

Missouri: ‘Earn more money’

  • Columbia: “student debt,” “Public Service Loan Forgiveness,” “debt ratio”

  • Joplin: “sales tax”

  • Kansas City: “refinance car loan,” “property tax,” “tax bracket”

  • St. Joseph: “Social Security”

  • St. Louis: “property tax,” “tax bracket”

The average annual income in Missouri is $45,520, according to the BLS, which trails the national average by $5,100. It makes sense, then, that the state’s Google users are searching for “saving money” and “earn more money.”

Other popular searches in this state, including “home loan” and “FHA loan,” focus on home financing.

Montana: ‘Loan calculator’

  • Glendive: “Bitcoin”

  • Helena: “health insurance,” “loan calculator”

  • Missoula: “loan calculator”

With a top search term of “loan calculator,” Montanans seem to be interested in getting a closer look at their debt. They also search for “how to budget” and “saving money” more often than other Google users in the U.S.

Nebraska: ‘Paycheck’

  • Lincoln: “get out of debt,” “retirement planning,” “consolidate debt”

The popular Google searches in Nebraska show that residents are focused on managing their everyday finances. Top queries include “paycheck,” “loan payment,” and “free checking account.”

Nevada: ‘Buy a home’

  • Las Vegas: “debt relief,” “buy a car,” “title loan”

  • Reno: “reverse mortgage,” “title loan,” “sales tax”

Many Nevadans are searching for “buy a home,” but searches such as “debt relief” and “title loan” could be evidence that residents are struggling to make ends meet.

New Hampshire: ‘Car loan’

None of New Hampshire’s cities showed up in our Google Trends analysis. The state’s residents are conducting some interesting searches for “car loan” and “401k loan.”

New Jersey: ‘Car lease’

New Jersey is the top state searching for “car lease.” Other popular searches show a keen interest in, well, earning interest. New Jerseyans search for “invest in stocks,” “how to invest,” and “CD rates” more often than Google users in other states.

New Mexico: ‘New credit card’

New Mexico’s residents searched most for “new credit card” — which could be the result of an overlap of the word “new” in the state’s name and the search term. A related search term in this state is “pay off credit card.”

New York: ‘Health insurance’

  • Albany: “home equity loan,” “car loan”

  • New York City: “mortgage rates,” “CD rates,” “certificate of deposit”

  • Syracuse: “cash flow,” “student loan forgiveness,” “retirement savings”

By far, New York is the state with the most searches for banking and financial products. Some of its top searches are for deposit accounts: checking, savings, money market, and certificates of deposit. New York residents also search for rates on mortgages and savings accounts as well as health and life insurance more often than residents of most other states.

North Carolina: ‘Get a raise’

  • Charlotte: “401k loan,” “401k,” “brokerage account”

  • Greensboro: “home insurance”

  • Raleigh: “401k,” “money market account,” “what is interest”

North Carolina workers earn $46,080 per year on average, according to the BLS, which is $4,540 behind the national average. That might be why many North Carolinians search for “get a raise.” Additionally, this state searches for “401k” and “late fee” more often than U.S. Google users overall.

North Dakota: ‘Student loans’

  • Bismarck: “buy stocks,” “student loans,” “student loan forgiveness”

  • Fargo: “student loans”

Borrowers in North Dakota might be stressing over their student loans, as this state Googles the term “student loans” more often than any other. Other popular Google queries in North Dakota include “property taxes” and “how to budget.”

Ohio: ‘Income tax’

  • Cincinnati: “refinance car loan”

  • Cleveland: “refinance student loans”

  • Columbus: “return on investment”

  • Toledo: “buy a home”

  • Youngstown: “home loan,” “FHA loan,” “income tax”

  • Zanesville: “auto loan,” “credit score”

Based on their top Google searches, Ohio residents want to keep more of their money instead of paying income tax, overdraft fees, or debt interest (“pay off debt”).

Oklahoma: ‘Debt repayment’

  • Oklahoma City: “what is APR,” “debt repayment,” “how to budget,” “return on investment”

  • Tulsa: “balance transfer,” “retirement planning,” “financial planning”

Oklahoma is the state where internet users are most interested in “debt repayment.” They also search for “what is interest” and “car loan.”

Oregon: ‘Mortgage’

  • Medford: “home loan”

  • Portland: “auto lease,” “tax credit,” “credit history,” “debt repayment”

The residents of Oregon are searching for the term “mortgage” more often than most other U.S. Google users. Other hot searches for the state include “auto lease” and “credit history.”

Pennsylvania: ‘Pay off credit card’

  • Erie: “student loans”

  • Harrisburg: “certificate of deposit,” “savings calculator”

  • Philadelphia: “new credit card,” “invest in stocks,” “pay off debt”

  • Pittsburgh: “savings calculator,” “refinance student loans”

  • Scranton: “home equity loan,” “credit card”

Getting out of debt might be a top personal finance goal for Pennsylvania Google users. They rack up searches on terms such as “pay off credit card” and “refinance student loans.”

Rhode Island: ‘CD rates’

  • Providence: “CD rates”

Rhode Islanders might be interested in getting more out of their savings, as evidenced by their frequent searches for “CD rates.” Other top search terms in the state include “cash flow” and “auto lease.”

South Carolina: ‘Car insurance’

  • Columbia: “credit report”

In South Carolina, Google searchers could be trying to save on a major monthly expense: car insurance. Another top search term is “tax refund.”

South Dakota: ‘Auto loan’

  • Rapid City: “debt consolidation”

  • Sioux Falls: “student loans”

South Dakota is ahead of the rest of the U.S. in terms of how often its residents search for “auto loan” and “loan payment calculator.” Residents of this state also want to know about “student loans” and “compound interest.”

Tennessee: ‘Extra income’

  • Chattanooga: “buy a home”

  • Knoxville: “saving money,” “debt relief”

  • Memphis: “bank account,” “title loan,” “net worth”

With an average income of $43,550, Tennesseans could use the extra income they’re searching for to make up for earning $7,070 less than the national average, per BLS data.

Texas: ‘Best credit card’

  • Beaumont: “FHA loan,” “Social Security,” “checking account”

  • Dallas: “build credit,” “credit history,” “debt snowball,” “late payment”

  • Houston: “401k loan,” “debt snowball”

  • Laredo: “credit card,” “income tax”

  • McAllen: “best credit card,” “credit card,” “income tax”

  • San Antonio: “consolidate debt,” “get out of debt,” “best credit card”

  • Waco: “compound interest,” “debt ratio”

Texas residents might be in the frame of mind to shop for new loans and credit, as evidenced by the state’s popular search terms. “Best credit card” is searched for more in Texas than in other states. “Origination fee” is another popular search term in the state.

Utah: ‘What is APR’

  • Salt Lake City: “tax bracket,” “compound interest,” “what is APR”

Many Utahns are searching for “what is APR” and the related term “compound interest.” Others are using Google to find out how to budget.

Vermont: ‘Retirement savings’

  • Burlington: “student debt”

According to the state’s popular Google searches, Vermont residents have two major financial goals: building a nest egg (“retirement savings” and “save for retirement”) and managing student debt.

Virginia: ‘Pay off debt’

  • Charlottesville: “IRA,” “mortgage rates”

  • Norfolk: “FICO score,” “how to budget”

  • Richmond: “what is APR,” “refinance car loan,” “certificate of deposit”

  • Roanoke: “saving money,” “financial planning,” “money market account”

Debt is on many Virginians’ minds. Some are searching for ways to pay off debt. They’re using Google to find out more about origination fees on new loans.

Washington: ‘Sales tax’

  • Seattle: “sales tax,” “tax bracket,” “capital gains,” “index funds”

Washington doesn’t have its own income tax, but residents are concerned about the sales tax they’ll pay. “Debt to income” and “cryptocurrency” are other top money-related Google searches in this state.

West Virginia: ‘Tax refund’

  • Bluefield: “Social Security,” “credit score”

  • Charleston: “student loan forgiveness,” “Public Service Loan Forgiveness”

  • Parkersburg: “Credit report,” “loan calculator,” “car loan”

In West Virginia, Google users are concerned with getting the money they’re entitled to from the government, as evidenced by top searches for “tax refund” and “Social Security.” “Paycheck” is another common search term in West Virginia.

Wisconsin: ‘Credit union’

  • Green Bay: “credit union,” “certificate of deposit,” “tax credit”

  • Madison: “ETF,” “savings calculator,” “retirement savings”

  • Milwaukee: “retirement savings,” “get out of debt,” “savings calculator”

Wisconsin residents search for “credit union” more frequently than Google users elsewhere in the U.S. The state also sees queries for “retirement savings” and “health insurance.”

Wyoming: ‘Debt consolidation’

  • Cheyenne: “health insurance,” “debt relief,” “bankruptcy”

Wyoming residents search for “debt consolidation” more than residents of other states. Auto-related terms such as “car insurance” and “buy a car” are also popular.

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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 May 1, 2021.


2 Important Disclosures for Earnest.

Earnest Disclosures

To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application..

Earnest fixed rate loan rates range from 2.98% APR (with Auto Pay) to 5.49% APR (with Auto Pay). Variable rate loan rates range from 1.99% APR (with Auto Pay) to 5.34% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate 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 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of October 26, 2020, and are subject to change based on market conditions and borrower eligibility.

Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.

The information provided on this page is updated as of 10/26/2020. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at [email protected], or call 888-601-2801 for more information on our student loan refinance product.

© 2020 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.


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 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 02/17/2021 student loan refinancing rates range from 1.91% APR – 5.25% Variable APR with AutoPay and 2.95% APR – 7.63% Fixed APR with AutoPay.


5 Important Disclosures for SoFi.

SoFi Disclosures

  1. Student loan Refinance: 1. Fixed rates from 2.99% APR to 6.99% APR (with AutoPay). Variable rates from 2.25% APR to 6.53% APR (with AutoPay). Interest rates on variable rate loans are capped at either 8.95% or 9.95% depending on term of loan. See APR examples and terms. Lowest variable rate of 2.25% APR assumes current 1 month LIBOR rate of 0.12% plus 2.38% margin minus 0.25% ACH discount. Not all borrowers receive the lowest rate. If approved for a loan, the fixed or variable interest rate offered will depend on your creditworthiness, and the term of the loan and other factors, and will be within the ranges of rates listed above. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. See eligibility details. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The discount will not reduce the monthly payment; instead, the interest savings are applied to the principal loan balance, which may help pay the loan down faster. Enrolling in autopay is not required to receive a loan from SoFi. *To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score.Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

6 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.
 


7 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 2.15%-4.42% 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.


8 Important Disclosures for Nelnet.

Nelnet Disclosures

Credit Score

Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.

Auto Debit

Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest) are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of approved forbearance or deferment if the auto debit discount was in effect at the time of receiving the forbearance or deferment. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is canceled or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of the loan.

Cosigner Release

Request for the cosigner to be released can be made by the borrower after 24 consecutive, on-time payments (not later than 15 days after the due date) of principal and interest have been made. Borrowers in deferment or forbearance must make 24 consecutive, on-time payments after re-entering repayment to qualify for the release. The borrower must be current on their payments at the time of the cosigner release request and show the ability to assume full responsibility of the loan(s) by meeting certain credit criteria on their own at the time of the request, including, but not limited to, being a U.S. citizen or having permanent residency in the United States, being the age of majority in their permanent state of residency, providing sufficient proof of income, and having no student loans in default.

Hardship Protection

Hardship forbearance allows you to temporarily suspend payments on your loan(s) while you are experiencing financial hardship. It is offered in increments of two or three months, with a maximum of 12 months available, in aggregate, over the life of the loan. If your loan(s) are in good standing at the time of your request, you will be eligible for forbearance in increments of two monthly payments. If, at the time of your initial request, your loan(s) are considered past-due, you will be eligible for forbearance in increments of three monthly payments. Future increments of forbearance, up to a life-time maximum of 12 months, may be requested upon the completion of making a certain number of principal and interest payments. During the two- or three-month forbearance period, you will not be required to make payments; however, any unpaid interest will continue to accrue and will be capitalized (added) onto your principal balance at the end of the forbearance period. You may continue making payments in any amount without penalty during the forbearance period. Your loan repayment term will be extended by the number of months in the forbearance period.

Loan Eligibility

Refinance Loan Eligibility: You must be a U.S. citizen or permanent resident alien with a valid U.S. Social Security number, and be the legal age to enter into binding contracts in your permanent state/territory of residency, or be at least 17 years of age and apply with a cosigner who is at least the age of majority in their state/territory. Non-residents can apply with an eligible cosigner who is a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. The student loans you refinance must be in their grace or repayment period, and you can no longer be enrolled in school on a half-time or more basis. You must have at least $5,000 in student loans to refinance. You, or your eligible cosigner, must have an annual income of at least $36,000. Approval subject to credit review. Other credit criteria may apply.

Refinance Loan Limits:

  • Minimum loan amount: $5,000
  • Maximum student loan limits:
    • $125,000 for borrowers with an undergraduate degree.
    • $175,000 for borrowers with a graduate or doctorate degree.
    • $175,000 for borrowers with an MBA or graduate law degree.
    • $500,000 for borrowers with a graduate health professions degree.

Loan Refinancing Risks: Federal student loans include benefits that may not be offered with private student loans. Carefully review any potential benefits that may be lost by refinancing federal and private education loans, such as the loss of any remaining grace periods. To learn more about what to take into consideration when refinancing federal student loans with private education loans, click here

Interest Rates

Selecting ‘Get Started’ results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.

Refinance Loan

Fixed interest rates range from 2.99% APR (with auto debit discount) to 6.25% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan.

Variable interest rates range from 2.00% APR (with auto debit discount) to 5.63% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. The variable interest rate is equal to the One-Month London Interbank Offered Rate (“One-Month LIBOR”) plus a margin. The One-Month LIBOR in effect for each monthly period (from the first day of the month through and including the last day of the same month) will be the highest One-Month LIBOR published in The Wall Street Journal “Money Rates” table on the twenty-fifth (25th) day (or if such day is not a business day, the next business day thereafter) of the month immediately preceding such calendar month. The Annual Percentage Rate (APR) for a variable interest rate loan will change monthly on the first day of each month if the One-Month LIBOR index changes. This may result in higher monthly payments. The current One-Month LIBOR index is 0.15% as of 5/4/2021.

The lowest interest rate for each loan type requires automatically withdrawn (“auto debit”) payments, a five-year repayment term, and the borrower making immediate principal and interest payments. Not all borrowers will receive the lowest rate. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, (3) the loan type selected, and (4) the highest level of education attained. If approved, applicants will be notified of the rate qualified for within the stated range.

*Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score. **Your actual savings may vary based on interest rates, outstanding balances, remaining repayment terms, and other factors.