If you’re considering refinancing your student loans or your credit card debt, it can pay to shop around. Saving even 1% annually can help you knock hundreds or thousands of dollars off of your interest payments each year.
Generally, to be sure you get the best possible deal, I recommend that you spend some time doing comparison shopping.
But which lenders should you compare? One option is to look through the best lenders at a loan marketplace like LendEDU. LendEDU offers in-depth reviews of the best private student loans, student loan refinancing, and personal loan companies.
We explain how LendEDU works, and whether you should use the site for loan comparisons.
- LendEDU is a comparison tool to help you find the best loans
- The compare student loans, personal loans, and credit cards
- Helps you find the best student loan rates
What LendEDU Offers
LendDU compares loan offers for private student lenders, student loan refinancing, personal loans, and select credit cards. The site offers fairly detailed insights into each of the lenders, and it allows you to compare loans across a variety of terms.
That said, the site doesn’t allow you to submit a common application. That means, if you want to shop for personalized offers, you have to apply separately at each site. That can be a pain, and it's where Credible has a slight advantage in the process.
Does LendEDU Have the Best Offerings of Lenders?
For each loan type, LendEDU ranks 7 to 10 lenders that have an online presence. While LendEDU doesn’t have the breadth that comparison sites like LendingTree has, most of the “low-price leaders” are on the site.
You can see how their offerings compare to our best private student loans page.
I was also impressed by the credit card comparison engine on the site. If you’re looking for your first rewards credit card (because you pay your credit card bill in full each month), LendEDU is a good place to start your search. It also has some decent offerings on balance transfer credit cards, which you can use to pay off high-interest credit card debt.
So does LendEDU compare the best lenders? Not really. It’s a decent site, but its breadth is limited.
Does LendEDU Have Good Information on Its Site?
The content on LendEDU is what makes the site stand out. Users can easily click through the site and find more information about every single lender.
The information starts at a high level (interest rates and loan terms), but it goes much deeper. The site explains the details of each loan, all in a single web page. You won’t have to go clicking around a lender’s website to find what you need.
How Is LendEDU’s Reputation?
LendEDU has an A+ rating from the Better Business Bureau, and a 9.5 rating on Trustpilot. Overall, most people who use the site seem satisfied with the experience.
When it comes to finding your next financial product, you don’t want to be overwhelmed by options. LendEDU will help you narrow your search, and get you moving in the right direction.
When it comes to refinancing your student loans, you’ll want to compare options from at least three lenders. By using LendEDU to narrow your search for lenders, you’ll probably come out ahead in the long run.
Just be sure that you’re taking the right approach when refinancing student loans. Sometimes it’s better to stay on a Federal income-driven repayment plan than to refinance to a lower interest rate.