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You’re on the right road for savings

You will have the opportunity to add a Linked Savings account to your student loan refinance at the end of the refinance process. You can bypass any Checking account invitations and look for an offer to add Linked Savings when you receive your final rate offer. Please note: you can only add one deposit account – either Linked Savings or Checking – to reduce your student loan refi rate.

ADA Resident Offers

Bank on your earning potential.

Laurel Road offers financial solutions for today's healthcare leaders with products tailored specifically for dental residents.

Apply directly from this page for access to these offers.

Student Loan Refinancing

ADA residents pay only $100 per month throughout training.1

Plus, as an ADA member you are eligible for a 0.25% rate discount.2 Discover your personalized rate options online in only a few minutes—with no impact to your credit score!3

Check My Rates

Low fixed and variable rates available when refinancing student loans

We don't charge any application or origination fees or prepayment penalties

Up to 12 months of forbearance is available4

Additional 0.25% discount when automatic monthly payments are made from a bank account5

Mortgage Lending for Dentists

ADA Members get a 0.25% rate discount6. You could also save up to $650 off closing costs.7

Secure, online home loans with clear options, transparent fees, and the human support you need, when you need it. Check your rates today!

Check My Rates

100% financing options available8

No private mortgage insurance required – for lower monthly payments9

Flexible and low interest rates – with fixed and variable options

Clear terms and fees online, with human support when you need it

What Our Customers Think

Student loans are stressful so it’s so nice knowing there’s a company out there to make the process as pain free as possible!

Bethany H.

Nurse

I have refinanced other loans, but never as easily as with Laurel Road. The online services they offered made this refi a snap, and their rates were lower than other banks, too.

Dr. Peterson

Physician, Student Loan Refi Customer

Questions come up, and we have answers.

Frequently Asked Questions

  • STUDENT LOAN

    Can 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.

  • STUDENT LOAN

    Why should I refinance my student loan?

    Refinancing student loans may add up to significant savings. For example, if you refinance multiple loans into one loan with a lower rate, and keep the loan term the same, you will accrue less interest over the life of the loan, saving you money on a monthly basis and over the course of the loan.

  • STUDENT LOAN

    How does the student loan refinancing process work?

    It’s actually pretty simple – the entire application is completed online, and you can receive preliminary rate in as little as 5 minutes.

    1. Fill out a short application with basic information about your loan, education, and employment. Once you authorize a soft credit pull and assuming you have provided enough information, we will provide you with preliminary rates, which are conditional upon further underwriting review and authorize a hard credit pull.
    2. Upload your supporting documents to Laurel Road’s secure dashboard and authorize a hard credit pull to complete your online application. Once we have received your application, we will underwrite your loan and provide you with your final rates and loan terms if approved.
    3. Select your loan type and term, and e-sign all necessary disclosures and your promissory note in the Laurel Road dashboard.

    Laurel Road will pay off your student loans to your current lenders and provide you with instructions to set up the servicing of your new loan. Your first payment to Laurel Road will be due one month from your disbursement date.

  • STUDENT LOAN

    Who is eligible to refinance their student loan with Laurel Road?

    U.S. citizens or permanent residents with a valid I-551 form (“permanent green card”) are eligible to refinance student debts with Laurel Road.

    Laurel Road refinances student loans for working professionals with four-year undergraduate and/or graduate degrees from Title IV accredited institutions, as well as for professionals who have an associate degree* in designated professions. Graduate students and undergraduates can refinance student loans as early as their final semester of school, so long as they have a signed contract or letter of employment. We also refinance student loans for parents who took out debt to finance their child’s education. We also refinance student loans for parents who took out debt to finance their child’s education. To be eligible for the Parent Student Loan Refinancing Program, the child must have attended a Title IV School but does not need to have graduated. Loan eligibility depends on lending criteria, such as your credit profile, monthly income, and monthly debt payments.

    *Additional eligibility requirements for Associate degree applicants:

    The applicant must either be currently enrolled and in the final term of the associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive the associate degree OR have graduated from a school that is Title IV eligible with an associate degree in the following eligible programs. The graduate must be employed, for a minimum of 12 months, in the same field of study of the associate degree earned:

    • Cardiovascular Technologist (CVT)
    • Dental Hygiene
    • Diagnostic Medical Sonography
    • EMT/Paramedics
    • Nuclear Technician
    • Nursing
    • Occupational Therapy Assistant
    • Pharmacy Technician
    • Physical Therapy Assistant
    • Radiation Therapy
    • Radiologic/MRI Technologist
    • Respiratory Therapy
    • Surgical Technologist
  • STUDENT LOAN

    Does Laurel Road refinance student loans for medical or dental residents?

    Yes, Laurel Road refinances student debt for doctors (MD or DO) and dentists (DDS or DMD) while they are in residency and before they begin practicing as attending physicians. Residents can defer making full payments on their loan up to 6 months after their residency and fellowships. Total loan term including residency, fellowship and grace period must not exceed 20 years. The deferment period for residency, fellowship, and grace period must be approved and disclosed at the time of application – you will not be able to extend the term of the loan after it is disbursed. If fellowship is determined after your loan is closed, you may be able to refinance with Laurel Road to take advantage of reduced payments during fellowship.

  • STUDENT LOAN

    Does Laurel Road refinance/consolidate both federal and private student loans?

    Yes, Laurel Road refinances/consolidates both federal and private student loans, even if you have already refinanced/consolidated your student loans with another lender.

Disclaimers

Notice: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. Information and offer are subject to change without notice. All loans are subject to credit approval. Mortgage is also subject to collateral approval. Partners may receive compensation in connection with Laurel Road products and services.

  1. Student Loan Refinance Post-residency Payment Examples
    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

    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 above assume an $180,000 loan amount with monthly payments of $100 being made during an example Residency Period of 3 months. After the Residency Period ends, borrower’s monthly payment will be based on their Post-Residency Monthly Payment. Repayment examples do not include the 0.25% discount for making automatic payments from a bank account or the 0.25% ADA rate discount. Variable APRs are subject to increase after consummation.

    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.

  2. The 0.25% ADA member interest rate discount is offered on new student loan refinance applications from active ADA members. The ADA discount is applied to your monthly payment and will be reflected in your billing statement. The discount will end if the ADA notifies Laurel Road that the borrower is no longer a member. This offer cannot be combined with other member or employee discounts.

  3. Checking your rate with Laurel Road only requires a soft credit pull, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score.

  4. After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for forbearance of payments for one or more 3-month time periods (however, a minimum of twelve (12) months are required between any two forbearance periods). Borrowers with a loan term of at least ten (10) years are eligible for up to twelve (12) months of forbearance over the life of the loan; borrowers with a loan term less than ten (10) years are eligible for one (1) month for every year of the loan term (e.g., if a borrower’s loan term is five (5) years they are eligible for up to five (5) months of forbearance over the life of the loan). Borrowers seeking an economic hardship forbearance due to unemployment must have made twelve (12) consecutive monthly payments prior to a forbearance request to be eligible. For any other forbearance due to economic hardship, borrowers must have made nine (9) consecutive monthly payments prior to a forbearance request to be eligible. All requests for forbearance are subject to review, including the review of acceptable documentation (including updating documentation) of the nature and expected duration of the borrower's economic hardship. During any period of forbearance, interest will continue to accrue. Unless otherwise noted, at the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principal amount of the loan.

  5. 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 AutoPay/EFT Discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.
  6. The interest rate discount of 0.25% is offered to borrowers that are an active ADA member at the time of closing. This 0.25% interest rate discount cannot be combined with other offers, except the Rewards Program. For Fixed-rate mortgages, the 0.25% rate discount is a permanent interest rate reduction that will be reflected in the Promissory Note interest rate. For adjustable-rate mortgages, the 0.25% rate discount will apply to the initial Fixed interest rate period and will be reflected in the maximum amount the interest rate can increase over the term of the loan, subject to the minimum interest rate that may be charged per the terms of the Promissory Note.
  7. Laurel Road offers up to $650 in lender's credit towards your mortgage closing costs. Credits cannot exceed borrowers’ actual costs to close. For more information refer to the Rewards Program below.
  8. 100% financing is only available to interns, residents, fellows, doctors, clinical professors, researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), or Doctor of Podiatric Medicine (DPM). Only available when purchasing or refinancing with no cash out on a primary residence and loan amount does not exceed $750,000. Retired doctors are not eligible. Additional conditions and restrictions may apply. Maximum of 95% financing on properties in CA.
  9. Only available to interns, residents, fellows, doctors, dentists, clinical professors, researchers, or managing physicians with a current license and a degree of Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Podiatric Medicine (DPM), Doctor of Dental Surgery (DDS), or Doctor of Dental Medicine (DMD). Retired doctors are not eligible. Additional conditions and restrictions apply.

Rewards Program Disclosure (Mortgage Only)

As used throughout this Rewards Program Disclosure (“Disclosure”), the terms “Lender”, “we”, “us”, and “our” mean KeyBank National Association. By using the Site, you are accepting the terms of the Rewards Program and this Disclosure as described herein, and as amended from time to time.

REWARDS PROGRAM

Lender offers applicants the opportunity to participate in a reward-based program (the “Rewards Program”) throughout the Lender’s mortgage loan application process using the Lender’s online mortgage platform or Site. Through the Rewards Program, applicants may have the opportunity to accrue points that will be redeemable and applied towards costs at closing.

The accrued points are earned by choosing certain specified options to complete the mortgage loan application process. The most cost effective and efficient tasks lead to the greatest amount of points. When you close your mortgage, the total amount of points earned are awarded and then converted into a lender credit. The dollar amount of the lender credit is then applied toward eligible non-recurring closing costs or disclosed fees.

Your participation in the Rewards Program is voluntary, and is expressly conditioned on compliance with the Rewards Program Rules and with all present and future Program Rules, terms, regulations, policies, and procedures that Lender may, in its discretion, adopt from time to time.

ACCRUING POINTS AND/OR CHOOSING CERTAIN SPECIFIED OPTIONS TO COMPLETE THE MORTGAGE APPLICATION PROCESS DOES NOT AFFECT THE REVIEW OF THE BORROWER’S MORTGAGE APPLICATION, LENDER’S ULTIMATE DECISION REGARDING THE BORROWER’S MORTGAGE APPLICATION, OR ANY TERM OF A LOAN OFFERED BY LENDER OTHER THAN A REDUCTION OF NON-RECURRING CLOSING COSTS OR DISCLOSED FEES.

REWARDS PROGRAM RULES

  • Only available to individuals legally eligible to obtain a mortgage loan. Proof of age is required at closing.
  • Points are accrued based on tasks performed within a given application. Earnings are accrued per task. Points are earned once per task.
  • Borrowers can accrue up to 450 points per loan transaction. Total points accrued and/or available are located in the “My Rewards” widget.
  • Points are converted on a one-to-one basis to lender credits that will be reflected on the Closing Disclosure and applied to eligible non-recurring closing costs at Lender’s discretion. The maximum available lender credit that may be obtained for the Reward Program is $450.
  • Borrowers can accrue an additional 200 points per loan transaction if an appraisal is ordered on the Site. Ordering an appraisal on the Site not available for all Borrowers. Points are converted on a one-to-one basis to lender credits that will be reflected on the Closing Disclosure and applied to eligible non-recurring closing costs at Lender’s discretion. To learn more about availability see contact information below.
  • Points accrued during the process may be converted into rewards at the closing of an approved Lender loan, provided the applicants’ application remains active until the time of closing.
  • Points are non-assignable and non-transferable.
  • Accrued points have no cash value, are non-negotiable, and are not redeemable either in whole or in part for cash. Applicants cannot receive cash back from rewards applied at closing. Accrued points have no value in the event that the applicant withdrawals the loan application, the application is withdrawn by Lender as incomplete, or the application is denied.
  • Applied lender credits may not exceed limits that may be imposed on lender credits by investor or program guidelines. Applied lender credits may be modified if the total amount of credit exceeds the maximum allowed under the applicable guidelines.
  • DETERMINATION OF TAX LIABILITY OF REWARDS IS THE RESPONSIBILITY OF THE APPLICANT. APPLICANTS SHOULD CONTACT THEIR TAX ADVISORS WITH ANY TAX RELATED QUESTIONS.
  • Lender has the right, in its sole discretion and without notice, to change, update, revise, limit, supplement and otherwise modify the rule or terms of the Reward Program and impose new or additional rules, terms and conditions on the applicant’s use of the Reward Program, at any time, at its discretion, with or without notice, even though such changes may affect the accumulation of points or the ability to obtain the reward.
  • Lender reserves the right to change the Rewards Program Rules at any time in its sole discretion without prior notice to borrower, including but not limited to: (i) the qualifications for eligibility; (ii) the value of points earned by the applicant; (iii) the number of points needed to earn a reward; and (iv) the rewards available to be earned. Each such modification will be effective upon posting on the Site.
  • Lender reserves the right, in its sole discretion and without notice, to terminate or cancel the Rewards Program, in whole or in part, or an individual applicant’s participation in the Program for any reason and at its sole discretion, with or without cause. “Termination” means ending the Rewards Program, with no further ability to earn points and/or convert points at closing by any applicant; “Cancellation” means the expiration or revocation of an individual applicant’s eligibility, for any reason, with or without cause. Neither Termination nor Cancellation of the Rewards Program affects the applicant’s pending loan application(s).

Questions or Concerns Regarding Rewards Program
If you have questions or concerns regarding rewards, please call at 877-801-4686 or email mortgage@laurelroad.com.

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

This information is current as of April 26, 2021. Information and rates are subject to change without notice.

Terms and Conditions

STUDENT RESIDENT REFINANCING – TERMS AND CONDITIONS

ELIGIBILITY & ELIGIBLE LOANS

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. Any federal loans refinanced with Lender are private loans and do not have the same repayment options that federal loan program offers such as Income Based Repayment or Income Contingent Repayment.

All loans must be in grace or repayment status and cannot be in default. Borrower must be in a medical or dental residency or be in their final term preceding graduation from an accredited Title IV U.S school with a signed match letter from an eligible medical or dental residency program. 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.

LOAN AMOUNT

Up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing. If you are refinancing greater than $300,000 in student loan debt, Lender will refinance the loans into 2 or more new loans.

FEE INFORMATION

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.

MORTGAGE TERMS AND CONDITIONS

Lender complies with the Federal Fair Housing Act. Lender does not engage in business practices that discriminate on the basis of race, color, national origin, religion, sex, disability, marital status or family status (including having children under the age of 18 and pregnant women). Lender also does not discriminate because all or part of your income may be derived from a public assistance program or because you have in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that monitors Lender’s compliance with the Federal Fair Housing Act is the Office of the Comptroller of the Currency.

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.