This student loan consolidation option is only available to a small population given a specific geographic location. Besides the geographic consideration, Mainstreet’s refinancing program is done through LendKey. LendKey offers access to refinance options from 300+ community banks and credit unions. The partnership works because LendKey offers technology and support so institutions such as Mainstreet Credit Union can offer low rates to their members.

Loan Rates and Longest Terms

  • variable rate of 6.00% to 12.25%
  • up to 20 year loan terms


  • You must become a member of Mainstreet Credit Union before being approved.
  • Membership is available to those who work or live in the greater Kansas City area:
  • Kansas counties: Leavenworth, Wyandotte, Johnson, Douglas, Miami, Franklin and Linn; and the following counties in Missouri: Platte, Clinton, Caldwell, Clay, Ray, Jackson, Lafayette, Cass and Bates).
  • Membership is also open to organizations or businesses located within said counties. Once you’re a member, you’re always a member – regardless of where you live or work.
  • Also note you must go into a credit union to apply for membership. Online applications are not available.


  • You have the option to borrow as little as $7,500.
  • A borrower may prepay the loan partially or in full anytime and not have to worry about any attached fees or penalties.
  • Mainstreet lets you choose between making interest-only payments or a $25 monthly proactive payment while in you are still in school, this is a benefit due to private loans not offering the grace periods which Federal loans do.
  • Cosigner Release Available after 24 months of full, on-time payments
  • No Loan Origination Fee.


  • Fixed interest rates are not available
  • A cosigner is encouraged
  • Not every school is accepted
  • There is an ‘upfront fee’ charge at the time of loan dispursement, it gets added in with your monthly payment
  • High Interest Rates the floor rate is 6%. LendKey works with other institutions that offer as low as 1.93% APR.
  • Geography requires you must live or work in the greater Kansas area.
  • Income Requirements - Mainstreet’s income requirements are low. But if you plan on taking a year off after school, Mainstreet may not accept you. Without a cosigner, you must prove $2,000 per month of ‘reliable’ income. With a cosigner, you must still prove a reliable income (no dollar amount outlined) and your cosigner must earn at least $2,000 worth of reliable income.

Best For

Borrowers who have great credit, will opt for the lowest interest rate, and if they are willing to enroll in automatic payments. The rate reduction will discontinue if you opt out of automatic payment. It also may be suspended during forbearance or deferment.

3 Days to Cancel

A borrower only has 3 days to cancel a loan. Some institutions will offer 30 days on loan with a maximum of $120,000 for undergraduate degrees and $160,000 for graduate loans.

Other Companies to Consider: SoFI