AMA Medical Student Offers
Get where you want to go, faster.
Medical school and the transition to residency can be daunting – and expensive! Laurel Road can help you get to where you need to go with financial solutions for medical students.
As a part of the American Medical Association (AMA) you're eligible to receive special offers on Laurel Road products by applying through this page.
Why Laurel Road for Doctors?
Doctors Have Bright Futures. We Think That's Worth Investing In.
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Award-winning Experience
Our customers love us—we've funded over $9 Billion in loans.
Residency Interview Loan
AMA members get a 0.25% rate discount on personal loans.1
It costs a lot to find the perfect match. At Laurel Road, you may be able to borrow up to $15,000 with low rates. Ease the financial burden of interviewing for residency positions, with a personal loan to cover the costs associated with interviewing.
Check My RatesWhy get a Personal Loan from Laurel Road?
Low fixed rates available across various terms
We don't charge any application or origination fees or prepayment penalties
Additional 0.25% discount when automatic monthly payments are made from a bank account1
Mortgage Lending
AMA Members get a 0.25% rate discount2. You could also save up to $650 off closing costs.3
Secure, online home loans with clear options, transparent fees, and the human support you need, if you need it. Check your rates today!
Check My RatesQuestions come up, and we have answers.
Frequently Asked Questions
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STUDENT LOAN
How are your loans different from federal government loans?
While in some instances Laurel Road may provide more competitive rates and flexible terms and repayment options, it does not offer Income-Based Repayment and Loan Forgiveness options that may be available through federal Loans. Be sure to explore all options available to you including grants, scholarships, and federal loans. For more information about federal student loan options visit StudentLoans.gov.
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STUDENT LOAN
Is Laurel Road still offering Graduate School Loans?
Based on current Federal rates and offerings, Laurel Road will not be offering Graduate Loans for the upcoming 2022-2023 academic year. For information on alternative financing options, please contact your school’s financial aid office for resources and information regarding scholarships, grants, and federal student aid. Most schools will likely have a list of private lender options for students in need of a private loan option.
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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.
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PERSONAL LOAN
What can I use a Residency Interview Loan for?
Costs incurred during the search for medical residency programs such as flights, hotels and other travel related expenses associated with transitioning to residency. This loan is only available for 4th year medical students.
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PERSONAL LOAN
How much can I take out with a Residency Interview Loan?
$5,000 to $15,000
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PERSONAL LOAN
What are the repayment options for a Residency Interview Loan?
Laurel Road offers reduced payments through the end of school and during training. The total period of reduced payments cannot exceed 60 months and cannot be less than 48 months. During this reduced payment period, interest on the loan will continue to accrue. Unpaid accrued interest will capitalize (added to the unpaid principal balance of the loan) at the end of the reduced payment period.
Disclaimers
Notice: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All credit products are subject to credit approval. Mortgage products are also subject to collateral approval. Mortgage products are available in all 50 U.S. states and Washington, D.C. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.
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The 0.25% American Medical Association (AMA) member interest rate discount is offered for personal loan applications from active AMA members. The rate discount will end if AMA notifies Laurel Road that borrower is no longer in good standing. An additional 0.25% interest rate discount is available for making automatic payments from a bank account by an electronic fund transfer (EFT) (the AutoPay/EFT Discount). Both discounts reduce the monthly payment. The AMA member interest rate discount cannot be combined with other offers, except any discount for making automatic payments.
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The interest rate discount of 0.25% is offered to borrowers that are an active AMA 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.
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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.
†Fixed Rate Resident Interview Loan Repayment Examples:
| Term (years) | Interest Rate | APR | Monthly Payment |
| 6 (4 years reduced payment period and 2 years full repayment) | 10.000% | 9.079% | 48 months of $25 |
| 24 months of $590.66 | |||
| 7 (4 years reduced payment period and 3 years full repayment) | 10.500% | 9.557% | 48 months of $25 |
| 36 months of $422.53 | |||
| 7 (5 years reduced payment period and 2 years full repayment) | 10.000% | 8.843% | 60 months of $25 |
| 24 months of $622.96 |
All repayment examples assume a loan amount of $10,000 and that Borrowers make $25 monthly payments from disbursement for 48 months or 60 months ("Residency Period"). These payments may not be enough to cover all of the interest that accrues on the loan. Once the Residency Period ends, any unpaid accrued interest will be added to the loan principal and monthly payments of principal and interest will begin.
The APRs and interest rates do not include any discounts. A borrower's actual rate and payment amount may vary, and is determined by the product, term, loan amount, and your credit qualifications.
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.
Note: The interest rate is higher than the APR because the APR considers the effects of the period of Reduced Payment.
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
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Only available to individuals legally eligible to obtain a mortgage loan. Proof of age is required at closing.
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Points are accrued based on tasks performed within a given application. Earnings are accrued per task. Points are earned once per task.
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Borrowers can accrue up to 450 points per loan transaction. Total points accrued and/or available are located in the “My Rewards” widget.
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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 Rewards Program is $450.
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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.
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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.
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Points are non-assignable and non-transferable.
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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.
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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.
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DETERMINATION OF TAX LIABILITY OF REWARDS IS THE RESPONSIBILITY OF THE APPLICANT. APPLICANTS SHOULD CONTACT THEIR TAX ADVISORS WITH ANY TAX RELATED QUESTIONS.
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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 Rewards Program and impose new or additional rules, terms and conditions on the applicant’s use of the Rewards 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.
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Lender reserves the right to change the Rewards Program Rules or terms 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.
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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 the Rewards Program, 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 March 1, 2022. Information and rates are subject to change without notice.
Graduate Loan – Eligibility & Additional Details
Eligibility
Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 form (“permanent green card”) at application. Permanent resident alien applicants will need to provide copies of the front and back of their permanent green card for approval. Conditional green cards will not be accepted. Borrower, and Co-signer if applicable must also state that they are of at least borrowing age in the state of residence at the time of application; enrolled in good standing on at least a half-time basis (as defined by the eligible institution) in an eligible program at an eligible institution, and meet Lender underwriting criteria.
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.
Personal Loan – Resident Interview Loan Terms and Conditions
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.
Eligibility
A borrower must be a U.S. Citizen or Permanent Resident with a valid permanent I-551 card (a conditional I-551 card will not be accepted), enrolled in good standing in a Doctor of Medicine (MD) or Doctor of Osteopathy (DO) program at an accredited U.S. medical school with an anticipated graduation date falling within twelve months from date of application. Borrower must also meet Laurel Road underwriting criteria including, for example, credit score and credit history requirements.
Repayment Term
Full Loan Repayment: 4th Year Medical Students are eligible for fully amortizing repayment terms of 2 and 3 years. Full Loan Repayment will commence immediately following Reduced Payment Period.
Total Term Maximum: Total loan term (including reduced payment period, and full loan repayment period) shall not exceed 84 months.