How do we stack up against other lenders? Compare our rates to Federal PLUS loan rates and fees to find out. Also, Laurel Road doesn’t charge origination or prepayment fees, saving you even more—and helping you along the path to greater financial freedom.Check My Rates
Discover your rate options online in less than five minutes
Option to defer payments while in residency2
No application or origination fees or prepayment penalties
Answer a few short questions to find out if your program qualifies you for a Laurel Road in-school student loan!
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We're sorry, Laurel Road does not currently offer graduate school loans for your school and degree at this time.Start Over
It costs a lot to find the perfect match. Ease the financial burden of interviewing for residency positions, with a personal loan to cover the costs associated with interviewing. At Laurel Road, you may be able to borrow up to $15,000 with low rates.Check My Rates
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 account4
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.
†Fixed Rate Resident Interview Loan Repayment Examples:
|Term (years)||APR||Monthly Payment|
|6 (4 years reduced payment period and 2 years full repayment)||9.07%||48 months of $25|
|24 months of $590.41|
|7 (4 years reduced payment period and 3 years full repayment)||9.15%||48 months of $25|
|36 months of $412.83|
|7 (5 years reduced payment period and 2 years full repayment)||8.84%||60 months of $25|
|24 months of $622.66|
Borrowers are eligible to make $25 monthly payments during their residency training for a minimum of 48 months up to 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.
All repayment examples assume a loan amount of $10,000 accruing at an annual simple interest rate of 9.99%, which includes a 0.25% AMA Member Discount. The APRs do not include any discount for making automatic payments from a checking or savings account. A borrower's actual rate and payment amount may vary, and is determined by the product, term, loan amount, and your credit qualifications. Example APRs are offered as of May 6, 2019 and subject to change.
Note: The interest rate is higher than the APR because the APR considers the effects of the period of Reduced Payment.
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.
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.
Questions or Concerns Regarding Rewards Program
If you have questions or concerns regarding rewards, please call at 877-801-4686 or email firstname.lastname@example.org.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This term represents the actual cost of financing to the borrower over the life of the loan incorporating payment features of the product selected by the borrower.
The annual simple interest rate for all loan terms offered, prior to any applied discounts, is 10.24%.
Borrowers are eligible for a 0.25% interest rate discount in return for setting up automatic payments using Electronic Fund Transfer (EFT) directly from a bank account. This discount only applies during periods in which payments are required of the borrower. Borrowers will lose the Automatic Payment Discount if automatic monthly payments are no longer received from the designated bank account.
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.
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.
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.
This information is current as of April 1, 2019 and is subject to change.