Coronavirus (COVID-19)

• Will Laurel Road lower rates with the recent federal rate cut?
  Our customers want the best rates and Laurel Road is committed to providing the most competitive rates we can offer. The Fed’s interest rate is just one of several factors used to determine interest rates. Other factors can also include credit quality of applicants and the projected probability of paying off their loans. This is a time of some uncertainty and we appreciate your understanding during this time. We can assure you that we are closely monitoring market conditions to ensure that we are offering the most competitive rates possible.
• My state temporarily suspended state debt collections in response to COVID-19. Does this apply to my student loans?
  Some states, including New York, have taken action to temporarily halt the collection of student debts owed directly to the state. These state programs do not apply to private student loans including loans refinanced with Laurel Road.
• Will 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 may be eligible for a forbearance or an extension. To inquire about forbearance and hardship relief due to COVID-19, please contact MOHELA at 1-877-292-6845.

  For updates on Laurel Road's response to the current coronavirus situation, please see laurelroad.com/coronavirus-response.

• The federal government passed the CARES Act on Friday, March 27th including provisions to delay student loan payments for 6 months. How does that impact my student loan?
  The federal COVID-19 response stimulus bill passed on March 27th, known as the CARES Act, delays student loan payments for six months until September 30, 2020. If you have previously refinanced your federal student loan with Laurel Road, you do not qualify for the federal waiver 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.