Lend-Grow Review - Student Loan Refinance

Application & Approval Process
Rates & Fees
Payment Terms
Customer Support & Benefits

About Lend-Grow

Lend-Grow is a lending marketplace that connects borrowers with local lenders (like small banks and credit unions) to provide the low rates on student loan refinancing. These smaller institutions can compete more aggressively for your business, since they don’t have the large overhead of big banks. The company encourages people to pay down their loan faster by actually helping to pay it down, too. If you to get your loan funded through the Lend-Grow online marketplace, they will deposit 0.10% APR of your loan amount each month, for up to 3 years. This is on top of the 0.25% ACH discount offered by the lenders. You’ll get a better rate or lower payments, plus Lend-Grow will help pay it down faster.


Very Good



  • Extensive list of lenders
  • 0.10% cashback each month for up to 3 years
  • Plus 0.25% ACH discount
  • No origination fees

Key Highlights

  • Get pre-qualified in under 2 minutes.
  • Refinancing on private, federal, and parent plus education loans.
  • They even have a 25-year loan.
  • Minimum credit score varies across lenders, could range between 680 to 700.
  • Minimum refinance amount of $25,000.
  • Best for comparison shoppers looking for lowest rates on student refinancing.

Application & Approval process

In-depth Analysis

Due to high demand, Lend-Grow is currently limited to only accepting 10,000 customers for its Payback Rewards that pays .10% APR every month for 3 years.
The entire application process is simple and digital. Click on “Check my Rates” and the website will send you to an online form requiring basic information like:

Personal Information

• Name
• Address
• Citizenship
• Date of birth
• Phone number

Education & Financial

• Education (Highest degree earned, school name and major)
• Employment status
• Housing status and monthly housing cost
• Loan refinancing amount

You need to check the boxes at the end of the form to authorize a soft credit inquiry in order to assess your financial details. A soft credit pull does not impact your credit score. Click on “View my Rates” to confirm your student loan balance and monthly payments and receive quotations in under 2 minutes.
You will be given several rates from multiple loan providers to compare and contrast. You’re not obligated to select any offers and there is no penalty fee. However, if you choose to select any one of the loan options, Lend-Grow will redirect you to the credit provider’s official website where you can complete rest of the application by giving further details like bank statements, income details, your social security number and more. At this stage, a hard credit inquiry is conducted to evaluate your financial standing which may impact your current credit score.


During the loan approval stage, the lender will require documents to verify the information provided and typically these documents consist of:

• Income verification: Tax returns
• Photo ID: Passport, driver’s license or government-issued ID
• Payoff verification statements

After assessing the details, the loan provider can either approve your funding or reject it. Make sure to complete all the necessary requirements to avoid any delays.


As soon as your loan gets approved, you will need to sign off on a couple of credit documents to ensure that the funding is released. Typically, a 14 to 30-day period is given to applicants to accept their loan offers by signing off the documentations.
After your funding is disbursed, apply for payback rewards at Lend-Grow’s website to help you pay off your student debts faster. The payback rewards ensure a 0.10% APR of the loan amount every month into your account, however, you need to be financially responsible and stay on top of your monthly payments at all times to receive this reward.

Lend-Grow Rates & Fees

Lend-Grow is an online marketplace and the rates vary according to the lenders, your profile, credit history, income, loan payment terms and more. The loan providers available through Lend-Grow offer fixed and variable rates. If you’re looking for the lowest monthly payments, explore longer terms or variable rates. However, if you’re looking towards low rates, explore shorter-term loans.

There is no origination fee charged by any of the loan providers on their site. However, do note that the autopay discount of 0.25% is usually included in the APRs, hence it is always better to request rates exclusive of this discount for comparison purposes.

Lend-Grow does not charge any fees directly to the borrower; however, they get a shared percentage of commission from the lenders for any loans closed via their website.

Payment Terms

Since Lend-Grow is not a direct lender, the payment term is flexible and varies across financial institutions. Typically, with student loan refinancing, payment terms can be 5, 10, 15, 20 or 25 years. You’ll be able to see the payment terms once you get your initial quotation. If you have the financial capacity to pay higher monthly payments, then consider doing it as it’ll help pay off your loans faster.

Customer Support & Benefits

Lend-Grow is primarily an online platform but does offer customer service over email, phone, and SMS. You can get in touch by filling up their online contact form and a dedicated customer representative will get back for help with your application. They also have a text customer support option that customers like a lot.

The website features a resource section with articles covering different topics related to student loan refinancing like fixed or variable rates, consolidate or refinance, when to refinance and more. There is also an extensive FAQ section for borrowers with questions pertaining to pre-qualified rates, the application process, etc. They also have an FAQ section specific to lenders with questions regarding benefits, in-direct channels, Lend-Grow customers and more.

As previously mentioned, there is also a payback reward program that ensures a 0.10% APR cashback on your loan amount every month, enabling borrowers to pay off their loans fast. This is on top of the 0.25% APR ACH discount you will get from the lenders. However, you need to be consistent with your loan payments and be more financially responsible to avail this program. The payback reward can go up to 3 years.


Very Good


Contact Details

Address: Lend-Grow 14321 Winter Breeze Drive, Suite 39 Midlothian, VA 23113
Text: 833-536-3479
Email: [email protected]
Online Contact Form: https://lendgrow.com/contact

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