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Medical Resident & Fellow Student Loan Refinancing

Empowering tomorrow's healthcare leaders with financial peace of mind.

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As soon as you're matched to a residency program, you could pay only $100 per month through residency or fellowship, before beginning your standard repayment term.

Find more financial flexibility

Apply as soon as you're matched to a residency program.

$100 monthly payments during training

Accrued interest does not compound while in training.

0.25% student loan autopay discount1

Interest rate is reduced when automatic payments are set up.

  • Resident Rates

Repayment Term
5 year
7 year
10 year
15 year
20 year
Fixed APR
Variable APR
Check My Rates

For residents, eligibility and rates offered will depend on your credit profile, total monthly debt payments, length of residency, and income projections post residency. Variable APRs are subject to increase after consummation. Rates shown above include a 0.25% Autopay discount and reflect a Repayment Term preceded by a 3 year residency period of $100 monthly payments. View Payment Examples below.

Please note that residents or fellows with signed contracts to practice may qualify for our standard rate offerings found here.


NEW! Student Loan Refi + Checking

Checking that can help put medical school debt in check.

Now you could get up to a 0.55% rate discount when you open a Laurel Road CheckingSM account and set up qualifying monthly direct deposits.2

Plus, get a $500 cash bonus with $2,500 in direct deposits.3

Learn More

NEW! Student Loan CashbackSM Credit Card

Redeem 2% cashback toward any eligible student loan.4

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Introducing the first card that lets you redeem 2% cashback toward your student loans with any eligible servicer.5 Chip away at your student loans with every dollar you spend.

Learn More

Learn About Resident Refinancing

Quick tips for refinancing student loans.

Frequently Asked Questions



All credit products are subject to credit approval

If you are refinancing any federal student loans with Laurel Road, you will no longer be able to take advantage of any federal benefits, including but not limited to: COVID-19 payment relief, 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://studentaid.gov.

  1. AutoPay/EFT Discount: if the borrower chooses to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the borrower’s bank account. The 0.25% AutoPay/EFT Discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

  2. The Laurel Road CheckingSM discount is available to borrowers who open a Laurel Road CheckingSM account simultaneously while refinancing their student loans with Laurel Road. You may also be able to utilize a checking account opened simultaneously with a prior Laurel Road student loan refinance to obtain a discount on your new Laurel Road student loan refinance. Borrowers will receive a 0.25% interest rate discount for their first three monthly billing cycles. Starting with the 4th billing cycle and continuing with each billing cycle thereafter, the interest rate discount applied each billing cycle will be based on the amount deposited via qualifying Automated Clearing House (ACH) transactions into the Laurel Road CheckingSM account during the preceding calendar month--0.25% for deposits between $2,500 and $7,499 per month and 0.55% for deposits $7,500 or greater per month. To continue to receive the discount for the 4th billing cycle, you must begin making qualifying ACH deposits to your Laurel Road Checking account during the second month after your loan funds. Note that the discount is only available to the primary checking account owner and is not available to a joint checking account owner. If the primary account owner is no longer an owner on the checking account or the account is closed, the discount on their student loan will cease. Discounts subject to change without notice and cannot be combined with the Linked SavingsSM discount. Click here for more information on the Laurel Road CheckingSM account and student loan rate discounts.

  3. Effective October 20, 2021, you must open a Laurel Road Checking account simultaneously while refinancing your student loan with Laurel Road by 01/31/2022 at 11:59 p.m. (ET) and make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $500, which will be deposited into your account within 60 days of meeting requirements. Click here for current Laurel Road Checking Rates. Normal account service charges and miscellaneous charges may apply to the Laurel Road Checking, which may reduce earnings. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. Limit one bonus per qualifying account and per individual. The value of the bonus will be reported to the IRS on Form 1099-INT. If you close your account within the first 180 days of account opening, you will be charged a $25 account early closure fee. Accounts overdrawn or closed at the time of bonus payment are not eligible. Offer is subject to cancellation without notice and cannot be combined with any other bonus offer. Laurel Road is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by Laurel Road.

  4. You will earn 2.0% in Cashback Rewards for each $1 spent on eligible Purchases if you redeem your Cashback Rewards towards your Student Loan with an eligible servicer. This equates to $0.02 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $2.00 in Student Loan Credit. You will earn 1.0% in Cashback Rewards for each $1 spent on eligible Purchases if redeemed for a statement credit. This equates to $0.01 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $1.00 in Cashback Rewards.

    Cashback is awarded based on eligible credit card purchases excluding transactions such as cash advances of any type, balance transfers, convenience check transactions, overdraft protection transfers and quasi-cash transactions. See Terms & Conditions, which are subject to change.

    The creditor and issuer of this credit card is KeyBank N.A., pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

  5. For more information on eligible servicers please visit our FAQ.

  6. Borrowers who open a Laurel Road Linked Savings℠ account during their application to refinance their student loans are eligible for the Laurel Road Linked Savings℠ discount. Borrowers receive a 0.25% interest rate discount for their first two billing cycles of their loan. Starting with the 3rd billing cycle, and continuing with each billing cycle thereafter, the interest rate discount applied during a billing cycle will be based on the average daily balance held in the borrower's Laurel Road Linked Savings℠ account for the preceding calendar month. The discount can vary from 0.10% for balances between $1,000 and $9,999 and 0.30% for balances of $20,000 or greater. To continue to receive a discount for the 3rd billing cycle, you must fund your Laurel Road Linked Savings℠ account the month after your loan funds and maintain a minimum account balance of $1000. Offer cannot be combined with Laurel Road Checking Discount. Click here to learn more about the Laurel Road Linked Savings℠ discount.

†Estimated Student Loan Refinance Post-residency Payment Examples

Borrowers employed full time as an intern, resident, fellow, or similar postgraduate trainee at the time of loan disbursement are eligible to make $100 monthly payments throughout their training (“Residency Period”). These payments may not be enough to cover all of the interest that accrues on the loan. Unpaid accrued interest will be added to the loan principal and monthly payments of principal and interest will begin when the Residency Period ends.

Assumptions: Repayment examples shown below are based on an original loan amount of $100,000 and assume that you make $100 monthly payments during the Residency Period of 36 months before the full repayment term begins. Repayment examples do not include any discounts.

Fixed Rate Loans
Term Interest Rate APR Monthly Payment Total Payments
5 years 3.93% - 5.53% 36 months of $100
60 months of $1,998 - $2,181
$123,506 - $134,441
7 years 4.35% - 5.85% 4.26% - 5.68% 36 months of $100
84 months of $1,514 - $1,656
$130,755 - $142,743
10 years 4.59% - 6.03% 4.51% - 5.88% 36 months of $100
120 months of $1,147 - $1,273
$141,188 - $156,336
15 years 4.81% - 6.33% 4.74% - 6.19% 36 months of $100
180 months of $866 - $994
$159,391 - $182,595
20 years 4.91% - 6.63% 4.84% - 6.50% 36 months of $100
240 months of $728 - $876
$178,294 - $213,828


Variable Rate Loans
Term Interest Rate APR Monthly Payment Total Payments
5 Year 3.98% - 5.62% 3.90% - 5.44% 36 months of $100
60 months of $1,994 - $2,170
$123,256 - $133,780
7 Year 4.25% - 5.75% 4.17% - 5.58% 36 months of $100
84 months of $1,505 - $1,647
$129,982 - $141,921
10 Year 4.40% - 5.93% 4.32% - 5.78% 36 months of $100
120 months of $1,131 - $1,264
$139,272 - $155,248
15 Year 4.65% - 6.23% 4.58% - 6.10% 36 months of $100
180 months of $853 - $986
$157,078 - $181,001
20 Year 4.90% - 6.53% 4.83% - 6.40% 36 months of $100
240 months of $727 - $867
$178,100 - $211,642

Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.

Interest Rate: A simple annual rate that is applied to an unpaid balance.

Variable Rates: The current index for variable rate loans is derived from the 30-day Average Secured Overnight Financing Rate (“SOFR”) and changes in the SOFR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%. There is no limit on the amount your interest rate can increase at one time. The Index is currently published by the Federal Reserve Bank of New York (“New York Fed”). If the Index is no longer available, it will be replaced by a replacement Index according to the terms of the promissory note.

This information is current as of September 23, 2021. Information and rates are subject to change without notice.

Terms and Conditions

Resident Student Loan Refinancing – Terms And Conditions


Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).

Borrowers may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school.

Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment. Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more information.


For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing.


There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.