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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
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For residents, eligibility and rates offered will depend on your credit profile, total monthly debt payments, and income projections post training. Variable APRs are subject to increase after consummation. The rate will be based on the nearest term offered that includes the entire term of their loan which is both the residency period and the full repayment period. For example, if a resident has 3 years of residency remaining and applies for a 5 year full repayment period, their total loan term will be 8 years; however, their rate will be based on the 10 year range above. Rates in the table above are based on 3 months remaining in residency and include a 0.25% discount for making automated payments from a bank account. View Payment Examples below.

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


Student Loan Refi + Linked Savings


Now you could get rates as low as 1.64%2 variable APR when you refinance your student loans and open a linked savings account and enroll in AutoPay — with the potential to save even more as you increase your savings balance.

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NEW! Student Loan CashbackSM Credit Card

Redeem 2% cashback toward any eligible student loan.3

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Introducing the first card that lets you redeem 2% cashback toward your student loans with any eligible servicer.4 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. Annual Percentage Rate (APR) shown with a 0.25% discount for maintaining a Laurel Road Linked SavingsSM account with a balance of between $5,000 - $9,999 and a 0.25% discount for AutoPay. Variable APRs are subject to increase after consummation. The Laurel Road Linked SavingsSM discount is available to borrowers who open a Laurel Road Linked SavingsSM account at the same time as when they refinance their student loans with Laurel Road. The amount of the discount is based on the borrower’s Laurel Road Linked SavingsSM account balance and may change monthly ranging from 0.15% for balances between $1,000 and $4,999 and 0.55% for balances of $20,000 or greater. To be eligible for a discount, borrowers must maintain a minimum Laurel Road Linked SavingsSM account balance of $1000. For terms and conditions see laurelroad.com/linkedsavings. A borrower's actual eligibility and rate will be based on their credit profile and other factors.

  3. 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.

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

  5. Eligibility: Laurel Road Perks! and Financial Insights are available to current Laurel Road Members with an existing credit card, student loan or personal loan who are physicians and dentists, including interns, residents, fellows, clinical professors, researchers, and managing physicians or dentists with one of the following qualifying medical or dental degrees: Doctor of Medicine, Doctor of Osteopathic Medicine, Doctor of Dental Surgery, Doctor of Medicine in Dentistry/Doctor of Dental Medicine, Doctor of Audiology, Doctor of Chiropractic, Doctor of Naturopathic Medicine, Doctor of Optometry, Doctor of Podiatry, or Doctor of Veterinary Medicine.

†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 $180,000 and assume that you make $100 monthly payments during the Residency Period of 3 months before the full repayment term begins. Repayment examples do not include the 0.25% AutoPay Discount or the Laurel Road Linked SavingsSM discount.

Fixed Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments (includes residency payments)
5 Year 3.06% - 5.25% 3.06% - 5.25% 60 $3,258.77 - $3,456.64 $195,526.20 - $207,698.40
7 Year 3.89% - 5.65% 3.89% - 5.65% 84 $2,471.18 - $2,631.83 $207,879.12 - $221,373.72
10 Year 4.37% - 5.85% 4.37% - 5.85% 120 $1,871.40 - $2,010.56 $224,868.00 - $241,567.20
15 Year 4.76% - 6.15% 4.76% - 6.15% 180 $1,414.88 - $1,554.59 $254,978.40 - $280,126.20
20 Year 4.86% - 6.47% 4.86% - 6.47% 240 $1,185.84 - $1,357.73 $284,901.60 - $326,155.20


Variable Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments (includes residency payments)
5 Year 2.53% - 5.15% 2.53% - 5.15% 60 $3,211.69 - $3,447.42 $193,001.40 - $207,145.20
7 Year 3.88% - 5.55% 3.88% - 5.55% 84 $2,470.44 - $2,622.51 $207,816.96 - $220,590.84
10 Year 4.26% - 5.75% 4.26% - 5.75% 120 $1,861.54 - $2,000.96 $223,684.80 - $240,415.20
15 Year 4.51% - 6.05% 4.51% - 6.05% 180 $1,391.39 - $1,544.32 $250,750.20 - $278,277.60
20 Year 4.76% - 6.37% 4.76% - 6.37% 240 $1,176.35 - $1,346.68 $282,624.00 - $323,503.20

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 one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR 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%.

Please note: The London Interbank Offered Rate (“LIBOR”) benchmark used as the Index for this loan is likely to be discontinued after 2021 or perhaps sooner. Should LIBOR no longer be available, an alternative published benchmark will be selected to serve as the Index. Any alternative Index may behave differently than LIBOR; however, any Index changes will not change most other terms of the loan, such as the maximum interest rate payable during the term of this loan or the timing of any interest rate resets. For more information on the possible discontinuation of LIBOR, see the Alternative Reference Rates Committee website which is maintained by the Federal Reserve Bank of New York and is available at: https://www.newyorkfed.org/arrc.

This information is current as of April 26, 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.