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Laurel Road Joins with American Nurses Association as Exclusive Student Loan Refinancing Partner

Press Release

Published December 08, 2020

New partnership will provide ANA members with student loan refinancing benefits and financial education resources

New York, NY — December 8, 2020Laurel Road, a digital lending platform and brand of KeyBank, is partnering with the American Nurses Association (ANA), the premier organization representing the interests of the nation’s 4.2 million registered nurses, as its exclusive student loan refinancing partner. Now when refinancing their student loans with Laurel Road, ANA members can choose between a rate discount or a cash bonus. ANA and Laurel Road will also work together to provide financial education resources to ANA members and nurses across America.

As part of this multi-year partnership, Laurel Road will host several financial educational activities for ANA members, including webinars on student debt management and how to undertake loan refinancing. Through Laurel Road’s simplified, personalized digital platform, ANA members could potentially save thousands over the life of their loans.1

“Nurses are key to quality healthcare and at Laurel Road we recognize the essential role this group plays in our healthcare system,” said Paul Bamundo, senior vice president and head of business development and marketing partnerships for Laurel Road. “In partnering with ANA, we are proud to demonstrate this support by helping foster healthy financial futures for its members through our student loan refinancing options and financial education tools.”

The median student debt for nurses with graduate degrees is $49,817, according to the Department of Education’s College Scorecard.2 Helping nurses find savings by refinancing their student loans will be more important than ever as nursing is one of the largest and fastest growing professions in the country, with the Bureau of Labor Statistics projecting that over 200,000 new registered nurse positions will be created each year through 2029.3

“Helping nurses reach their full potential is behind everything we do as an organization, and we understand the important role financial health plays in this,” said Debbie Hatmaker, PhD, RN, FAAN, Chief Nursing Officer at ANA. “That’s why we’re thrilled to partner with Laurel Road to help our members manage their student debt and find new opportunities for financial education. Nurses are incredibly busy and dedicated professionals, and any opportunity to support their self-care, including alleviating stress from finances, will go a long way.”

Laurel Road has worked with healthcare professionals since its founding in 2013.  The company has been focused on supporting this community through its product offerings and by maintaining affiliate relationships with prominent medical associations. Laurel Road’s digital-first lending platform and partner program can be tailored to fit the needs of any professional organization.

For more information on how ANA members can take advantage of this benefit, please visit www.LaurelRoad.com/Partnerships/ANA. To learn more about how professional associations can offer student loan benefits, visit www.LaurelRoad.com/Partnerships.

About Laurel Road

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 $7 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products, mortgages and personal loans that helps 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. For more information, visit www.laurelroad.com. 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. The mortgage product is not offered in Puerto Rico. KeyBank is a Member FDIC, Equal Housing Lender. NMLS ID # 399797.

About the American Nurses Association (ANA)

The American Nurses Association (ANA) is the premier organization representing the interests of the nation’s 4.2 million registered nurses. ANA advances the profession by fostering high standards of nursing practice, promoting a safe and ethical work environment, bolstering the health and wellness of nurses, and advocating on health care issues that affect nurses and the public. ANA is at the forefront of improving the quality of health care for all. For more information, visit www.nursingworld.org.

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Media Contact:

KWT Global for Laurel Road

646-989-8147

laurelroad@kwtglobal.com

 

[1] 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.

Sources

[2] https://www.brookings.edu/research/ed-depts-college-scorecard-shows-where-student-loans-pay-off-and-where-they-dont/

[3] https://www.bls.gov/ooh/healthcare/registered-nurses.htm