Student LoanI am a physician with federal loans, how does refinancing with this special pricing compare to the federal government waiver?
Student LoanI’m currently a resident and looking to refinance my loans. Do I qualify for the physician special pricing?
Student LoanWho qualifies for the physician, dentist, optometrist, and physician assistant special pricing?
The specialized rates are offered to applicants who are physicians, dentists, optometrists, and physician assistants with the following degrees: Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Medicine in Dentistry or Doctor of Dental Medicine (DMD), Doctor of Dental Surgery (DDS), Doctor of Optometry (OD), Physician Assistant Master of Science in Medicine (PA). Not available to residents, fellows, or students.
Student LoanWill Laurel Road be offering forbearance for those impacted by COVID-19?
If you are experiencing an impact to your income as a result of COVID-19, you can request a forbearance of 3 monthly payments. With this COVID-19 forbearance option:
Your loan’s maturity date will be extended by roughly the number of months of the forbearance period.
Interest will still accrue but it will not be added to the principal balance of your loan. The repayment of the interest that accrued during the forbearance period and your outstanding principal balance will be re-calculated over the remaining term of your loan to determine your new monthly payment. Your new monthly payment will likely be higher than your original monthly payment because of the interest that accrued during the forbearance period. (Note: If the interest accrued during your COVID-19 hardship forbearance is not paid and you use a different type of forbearance or deferment in the future, the interest could be capitalized at that future time). The COVID-19 forbearance will not count against your allowance for economic hardship forbearance under the terms of your loan agreement. Additionally, the COVID-19 forbearance will have no effect on meeting the requirements for cosigner release if available under terms of your loan (e.g., if you had made 30 out of the 36 required consecutive payments immediately prior to entering the COVID-19 forbearance, your 31st payment towards meeting the requirement would be due approximately 1-month after exiting the forbearance).
To inquire about this forbearance please contact MOHELA at 1-877-292-6845 (TTY: Dial 711).
Student LoanIn response to the COVID-19 pandemic, the federal government has paused all federal student loan payments and waived interest charges on federally held loans until 9/30/21. How does that impact my student loan?
If you have previously refinanced your federal student loan with Laurel Road, you do not qualify for this federal program under the CARES Act.
If you are an existing Laurel Road customer and are experiencing an impact to your income as a result of COVID-19, you may be eligible for a forbearance or an extension of your existing one. To inquire about forbearance and hardship due to COVID-19, please contact MOHELA at 1-877-292-6845 (TYY: Dial 711).
Student LoanCan I still take advantage of federal benefits after I refinance my federal loans with Laurel Road?
If you are refinancing any federal student loans with Laurel Road, you will no longer be able to take advantage of federal income driven repayment programs or student loan forgiveness, including but not limited to: Income Based Repayment (IBR), Pay As You Earn (PAYE) or Revised Pay As You Earn (REPAYE), and Public Service Loan Forgiveness (PSLF). For more information about the benefits of these federal programs and other federal student loan programs, please visit https://studentloans.gov.