Finimpact
Updated on

LendingTree Student Loans Review

LendingTree is a loan shopping platform where you can review loan products from multiple lenders. You choose the student loan with the right terms for your unique situation. LendingTree’s partner lenders are highly regarded in the industry and LendingTree is known to have a responsive help desk.

LendingTree lendingtree-review
lendingtree-review logo
3.7
Please Vote!
Min. Credit Score
Min. Credit Score Varies
Loan Amounts
Loan Amount Varies
Loan Repayment
Loan Repayment 10-30 years
Page Grossman
Written by:Page Grossman
Freelance Copywriter, Intentional Lifestyle Blogger, Content Writer

LendingTree is a portal to access offers from a number of different student loan vendors. LendingTree connects students to loan products for those getting associate, bachelor, graduate, and Ph.D. degrees. You can also refinance your student loans with LendingTree.

If you’re looking to shop around and compare loan rates or to refinance your current student loans for a lower interest rate, LendingTree can help.

Summarized Rating

This parameter considers loan term lengths, loan limits, and loan structure optionality (fixed and variable rate offerings). For each loan type offered, each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.

LendingTree gets a 5.0 for Loan Features. This top tier score reflects the loan aggregator’s high degree of flexibility on loan structure optionality (fixed vs. variable), but is somewhat misleading due to a lack of information on the term length and loan amount fronts.

LendingTree Pros
You can choose from many different lenders.
No cap on the loan amount you apply for.
Can apply for loans with a cosigner.
LendingTree Cons
Some loan products have high interest rates.
Once you submit contact information, you may receive a lot of phone calls.

What Types of Student Loans Does LendingTree Offer?

As a loan marketplace, LendingTree partners with a number of different lenders, meaning you’ll get to choose from a wide variety of student loan types. The main types of student loans you can apply for with LendingTree are:

  • Private, variable rate student loan
  • Private, flat rate student loan
  • Federal student loan

Here’s some in-depth information about the different types of loans LendingTree has to offer.

Private, Variable Rate Student Loa

The first type of loan you can apply for through LendingTree’s marketplace is a private, variable rate student loan. Let’s break this down:

  • Private: this loan is from a private lender, not the government
  • Variable rate: this type of loan has a variable interest rate, meaning the interest rate changes over the life of the loan.

Some students choose a private student loan to cover the costs of their education while others use it to cover the difference in the cost of their education and the amount offered through the federal loan program.

Private, Variable Rate Student Loan Features

With a variable-rate student loan, the interest rate you pay will change with the market. This can appear like a good deal at first, but is likely not in the long run. Most variable-rate loans start with a low interest, which then gets much higher.

If you choose a variable rate student loan, it’s important to understand that there is no cap on student loan interest rates. This means that the interest rate can go up as high as the market permits.

A variable-rate student loan is unpredictable. This can make paying your loan off each month difficult.


Loan terms

Depends on the lender

Repayment period

10 to 30 years

Loan amount

Depends on your needs

Loan Structure Flexibility

Variable interest rate

Private, Variable Rate Student: Interest Rates and Fees

LendingTree is an online loan marketplace where you can shop for and compare different loan options. Your loan terms will be dependent upon which lender you choose from LendingTree’s marketplace.

Be sure to evaluate each lender’s various fees. You’ll want to compare different loan products to see which have higher or lowers:

  • borrowing/origination fees
  • Late payment fees
  • Maintenance fees
  • Variable rate terms

  • Borrowing/Origination Fees

    Depends on the lender

    Prepayment Fees

    Depends on the lender

    Late Payment Fees

    Depends on the lender

    Maintenance Fees

    Depends on the lender

    Variable Rates

    1.04% to 11.99%

Private, Variable Rate Student: Qualification Requirements

As an online loan marketplace, LendingTree gives you the opportunity to examine and compare loan products from a variety of different institutions. Each lender will offer slightly different terms in their loan. On LendingTree, you can compare these different terms to find what fits your needs.

  • Course load requirements: Some lenders will require that you take a set number of courses or hours to be eligible for a specific loan.
  • Minimum credit score: Each lending institution has a set credit score minimum. If your credit score is below that minimum, you won’t be eligible for that loan product.
  • Maximum debt-to-income: Your debt-to-income ratio is the percentage of debt you have when compared to your income. If you already hold some debt, you may not be eligible for another loan.
  • Co-signer: Some lenders allow you to apply for a loan with another person as a co-signer on your loan. If you are unable to pay your loan, your co-signer would be liable for the debt

Private, Fixed Rate Student Loan

Another common type of student loan that you can find from different lenders on the LendingTree website is a private, fixed-rate student loan.

  • Private loan: This type of loan comes from a private lender that is not the federal government.
  • Fixed-rate: A fixed-rate loan has a fixed, unchangeable interest rate. The interest rate will be the same the first month of the loan all the way until the loan is paid off.

Many students choose a fixed-rate loan because it provides them with stability. A fixed-rate loan is predictable as your payment will always be the same. A fixed-rate student loan allows you to plan ahead for your payments and to fit them into your budget. With a fixed-rate loan, your interest rate is stable and doesn’t change, even if the market changes.

One thing to be aware of: a fixed-rate loan generally starts off with a higher interest rate than a variable rate interest loan.

Private, Fixed Rate Student Loan Features


Loan terms

Minimum payment of $50 per month

Repayment period

Up to 10 years (30 for consolidated loans)

Loan amount

Based on your financial need

Loan Structure Flexibility

Fixed-rate

Private, Fixed Rate Student Loan Interest Rates and Fees

On the LendingTree website, you can submit the type of loan you’re looking for and how much money you need. LendingTree then provides you with loan quotes from a variety of different lenders.

Each lender will offer different terms and rates. It’s important to evaluate each lender based off of these terms:

  • borrowing/origination fees
  • Late payment fees
  • Maintenance fees
  • Fixed rate terms

Borrowing/Origination Fees

Depends on the lender

Prepayment Fees

Depends on the lender

Late Payment Fees

Depends on the lender

Maintenance Fees

Depends on the lender

Fixed Rates

3.34% to 14.99%

Private, Fixed Rate Student Loan Qualification Requirements

LendingTree puts the power in your hands. After submitting your information, LendingTree puts together a custom list of loans that you’re eligible for. Your ability to meet certain qualifications will determine whether you’re eligible for specific loan packages.

The eligibility requirements include:

  • Course load requirements: You may need to take a specific number of classes or hours to be eligible for a loan.
  • Minimum credit score: Each lender requires a specific minimum credit score. If you don’t meet it, you won’t be eligible.
  • Maximum debt-to-income: If you have too much debt when compared to your income, you won’t be eligible for some loans.
  • Co-signer: If you don’t meet some of the minimum requirements for a loan, you may have the option of bringing in a co-signer.

Federal Student Loan Review

On the LendingTree website, you can also apply for a federal student loan. A federal student loan is funded and backed by the U.S. Department of Education. Federal student loans are granted based on financial need. To apply for a federal student loan, you’ll fill out the Free Application for Federal Student Aid or FAFSA.

Federal Student Loan Features

Federal student loans are funded by the U.S. Department of Education. What makes federal student loans unique when compared to private loans is that all have the same, standard repayment plan.


Loan terms

Minimum payment of $50 per month

Repayment period

Up to 10 years (30 for consolidated loans)

Loan amount

Based on your financial need

Loan Structure Flexibility

Fixed-rate

Federal Student Loan Interest Rates and Fees

This section evaluates borrowing/origination fees, prepayment fees, late payment fees, maintenance fees, fixed rates, and variable rates. Research and write 70 - 80 words about these features, and then summarize the information in a table.


Borrowing/Origination Fees

1.059% to 4.236% for loans disbursed from Oct. 2, 2019 to Sept. 30, 2020

Prepayment Fees

None

Late Payment Fees

Late fee of 6% of missed payment amount

Maintenance Fees

None

Fixed Rates

4.53% for undergraduate studies, 7.08% for graduate education

Variable Rates

None

Federal Student Loan Qualification Requirements

The beauty of federal student loans is that many of the loan qualification requirements are waived. Your federal student loan amount is based on your financial need to pay for college. That means that there are no minimum requirements for your income, credit score, or debt-to-income ratio. In fact, a full credit report is not even required.

As well, you’re not required to start paying back your federal student loans until after you graduate.

LendingTree Application Process

LendingTree makes looking for a student loan as simple as can be. On their student loan page, you’ll find a box to type in your university or college. Submit that information and you’ll be presented with loan options.

Once you find a lender that you’re interested in working with and like the terms of the loan, you’ll submit an application. To submit an application to a lender, you’ll need your:

  • Social security number
  • Driver’s license
  • Most recent tax return
  • Parent’s latest tax return (sometimes)
  • Bank statements
  • Documentation of legal residency

When you apply for a private student loan, the lender will do a soft pull credit check. This should not affect your credit score. But, before you receive final approval for your student loan, most lenders will do a full credit check, which requires a hard pull and will affect your credit score.

LendingTree Customer Support

When you’re looking for a loan product on LendingTree’s website, it’s important to understand that they are not a lender. LendingTree is an online marketplace where you can compare loan products.

If you do have a problem with LendingTree or need customer support, you can contact them online or by phone. Their phone support hours are:

  • Monday-Thursday: 8am - 9pm EST
  • Friday: 8am - 8pm EST
  • Saturday: 10am - 7pm EST

The Better Business Bureau ranks LendingTree an A- business. While they do receive a number of customer complaints, LendingTree responds to and addresses those customer problems regularly and often.

If there is an issue with your loan after you’ve applied and been accepted, you would not contact LendingTree. Instead, you would contact your lender.

LendingTree Online Reviews

Online review sites can be a helpful tool in understanding the ins and outs of a marketplace such as LendingTree. On Trustpilot, you can find honest reviews of LendingTree’s customer service and get a feel for how they treat their customers.

The customer reviews of LendingTree clearly show that they provide great customer service. Many commenters write glowing reviews of the help and support they received from LendingTree’s customer service. Many also comment about how easy the loan application process is.

No company has only good reviews. Many of LendingTree’s negative reviews focus in on the number of sales calls applicants receive from lenders. Some loan applicants also felt misled that there would be a loan product for them only to find out that they weren’t eligible for any loans.


The positive reviews are related to

The negative reviews are related to

Quick and easy loan application process

Sales calls from various lenders

Positive customer support interaction

LendingTree Perks and Bonuses

As an online marketplace for loan products, LendingTree is way more than just a lender. It’s a place to shop for loans and to learn about the different loan options that might be right for your needs.

Flexibility:

When it comes to private student loans, there usually isn’t a lot of flexibility in the terms. Most student loan lenders allow for prepayments, but most have very strict terms for payment deferral. You can find both fixed and variable rate private student loans.

Mentorship:

LendingTree has an extensive blog that has many informative posts about student loans, variable interest rates, and how to choose the best loan product for your unique situation.

Technology:

As an online marketplace, LendingTree makes it easy to apply for loans online and has an easy-to-navigate website. They also offer a phone support line if customers need help.

Final Thoughts

LendingTree is an online marketplace where you can compare different student loan products from a variety of different lenders. On the LendingTree website, you’ll find lenders offering private fixed and variable rate loans. Online reviewers state that LendingTree has a responsive and helpful customer service desk that’s available at regular hours and addresses customer concerns. With an A- rating from Better Business Bureau and dozens of loan partners, LendingTree is a well-respected online loan marketplace. It’s a great place to start your search for the perfect student loan.

Frequently Asked Questions (FAQ)

Is LendingTree trustworthy?
LendingTree is a well-established company that is respected by many lenders and is therefore trustworthy
Does LendingTree hurt your credit?
As an online loan marketplace, LendingTree has no effect on your credit score. However, if you choose to apply for a loan that you see on LendingTree’s website, your credit may be dinged when that lender does a credit check
How long does it take LendingTree to approve a loan?
LendingTree doesn’t directly offer loans. LendingTree is an online comparison tool where you can examine different loan products. Your loan approval time will depend on the lender you choose. Loan approval period should be communicated clearly upfront before you start the application process with a specific lender.

About the Author

Page Grossman

Page Grossman

Freelance Copywriter, Intentional Lifestyle Blogger, Content Writer

Page is a B2C freelance copywriter and blogger. She worked with a wide variety of financial clients such as Fundera, Zeni, Incfile, FamFi, and Zendesk. She also writes a weekly email newsletter called do5ive, with simple, actionable tips for living an intentional life.

More about me