+ LR-Icons

APA MEMBER BENEFITS

Reward yourself with a special offer for APA members.

As a part of the American Psychological Association, you're eligible to receive special offers from Laurel Road.

You must apply directly from this page to enroll in these offers.

Student Loan Consultation

Explore your student loan options with an expert guide.

Did you know there’s more than one path to forgiveness? Get the facts and develop your personalized plan on a free 30-minute consultation with one of our GradFin student loan specialists.1 GradFin helps borrowers qualify for an average of over $110k in student loan forgiveness.2

APA members also get a $50 discount when they
sign up for an annual GradFin membership.3

By submitting this form you agree to the Laurel Road and GradFin User Agreement and Online Privacy Statement.

A GradFin student loan consultation will help you:

Apply for IDR

Understand your income-driven repayment (IDR) and forgiveness options.

Navigate PSLF

See if you qualify and help you stay on track for public service loan forgiveness (PSLF).4

Explore Refinancing

Compare simple refinancing options that could help you save on student loans.

Stay the Course

If you're already in the right repayment program, GradFin helps you stay on track.

Student Loan Refinancing

APA Members get a 0.25% rate discount.5

Discover your personalized rate options online in only a few minutes—with no impact to your credit score!6

Check My Rates

IMPORTANT INFORMATION: Please note that if you refinance qualifying federal student loans with Laurel Road, you may no longer be eligible for certain federal benefits or programs and waive your right to future benefits or programs offered on those loans. Examples of benefits or programs you may not receive include, but are not limited to, Public Service Loan Forgiveness, Income-Driven Repayment plans, forbearance, or loan forgiveness. Please carefully consider your options when refinancing federal student loans and consult Federal Student Aid for the most current information.

Laurel Road Linked Checking®

Lower your refi rate when you add a new checking account.

Open a Laurel Road Linked Checking account during student loan refinancing and get an introductory 0.25% off your rate for the first 3 months. After that, your rate discount varies based on your total qualifying monthly direct deposit amount – you could lower your student loan refinancing rate by up to 0.80% with autopay discount.7

 

Direct Deposit Amount 3-Month Intro Discount Post-Intro Discount*
$0 – $2,499 0.25% 0.00%
$2,500 – $7,499 0.25% 0.25%
$7,500+ 0.25% 0.55%

*Potential discount after three months and qualifying monthly direct deposits

Apply Now

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 available8

Additional 0.25% discount when automatic monthly payments are made from a bank account9

Laurel Road High Yield Savings®

Make your savings work harder for you – earn % Annual Percentage Yield (APY).10

APA members can save for the future with our highly competitive high yield savings account. Start earning % APY on your entire account balance, with $0 cost to open.

View Laurel Road High Yield Savings Rates & Fees

Laurel Road Loyalty Checking SM

The first checking account that pays you to get paid.11,12

Introducing a checking account that rewards you for switching to Laurel Road. You could earn up to $20 cash reward for every month you make qualifying ACH direct deposits during the first 12 months.11

Plus, you could earn a $100 welcome bonus12 — that's up to $340 in your first year.

View Laurel Road Checking Rates & Fees

Apply Now

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://studentaid.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. 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/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.

  • STUDENT LOAN

    Who can I contact for help with my student loans?

    You can send our Member Services team a message by emailing us at [email protected] or by using the live chat function on our website. To speak directly with a Member Services representative, you can call us at 1-833-427-2265. Members using a TDD/TTY device, please use 1-800-539-8336.

About Laurel Road

Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $9 billion in federal and private school loans. Laurel Road also offers a suite of online, seamless, and personalized options for graduate school loan products, personal loans, and mortgages. In April 2019, Laurel Road became part of KeyBank, one of the nation’s largest bank-based financial services companies and Member FDIC.

About the American Psychological Association

APA is the leading scientific and professional organization representing psychology in the United States, with more than 146,000 researchers, educators, clinicians, consultants and students as its members. Its mission is to promote the advancement, communication, and application of psychological science and knowledge to benefit society and improve lives. For more information about APA, please visit www.apa.org/about.

Disclaimers

All credit products are subject to credit approval.

IMPORTANT INFORMATION: Please note that if you refinance qualifying federal student loans with Laurel Road, you may no longer be eligible for certain federal benefits or programs and waive your right to future benefits or programs offered on those loans. Examples of benefits or programs you may not receive include, but are not limited to, Public Service Loan Forgiveness, Income-Driven Repayment plans, forbearance, or loan forgiveness. Please carefully consider your options when refinancing federal student loans and consult Federal Student Aid for the most current information.

  1. GradFin and Laurel Road are brands of KeyBank N.A.

  2. GradFin members that met the requirement for Public Service Loan Forgiveness (PSLF) qualified for an average of $116,697.74 in student loan forgiveness as of 01/08/2024.

  3. Member Name members get a $50.00 discount on an annual Public Service Loan Forgiveness (“PSLF”) program membership with GradFin (“Offer”). The discount will be applied on the current annual membership fee of $249.00 and will automatically apply at checkout. This Offer is only available to current Member Name members, is non-transferable and cannot be applied to previous membership purchase(s). This Offer cannot be redeemed for cash or combined with other offers and is subject to cancellation at any time and without notice.

  4. To qualify for Public Service Loan Forgiveness (PSLF), you must be employed by a U.S. federal, state, local, or tribal government or not-for-profit organization (federal service includes U.S. military service); work full-time for that agency or organization; have Direct Loans (or consolidate other federal student loans into a Direct Loan); repay your loans under an income-driven repayment plan; and make 120 qualifying payments. For full program requirements, visit: https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service.

  5. The 0.25% Member Name member interest rate discount is offered on new student loan refinance applications from active Member Name members. The Member Name discount is applied to your monthly payment and will be reflected in your billing statement. The Member Name member discount is only available at loan origination and at no other time, and will go into effect on the date the loan funds are disbursed. This offer cannot be combined with any other discounts from Laurel Road affiliated partners or employers.

  6. 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.

  7. 0.80% discount includes a 0.55% discount for monthly qualifying direct deposits of $7500 or more credited to a Laurel Road Linked Checking account, and a 0.25% discount for AutoPay. The Laurel Road Linked Checking discount is available to borrowers who open a Laurel Road Linked Checking 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% rate discount for their first three monthly billing cycles. Starting with the fourth billing cycle and continuing with each billing cycle thereafter, the rate discount applied to each billing cycle will be based on the amount deposited via qualifying Automated Clearing House (ACH) transactions into the Laurel Road Linked Checking 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. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. To continue to receive the discount for the fourth billing cycle, you must begin making qualifying ACH deposits to your Laurel Road Linked 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 Laurel Road Linked Savings discount. For more information on the Laurel Road Checking Account visit (laurelroad.com/refinance-student-loans/checking/#rates-fees-jump. If you choose to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the rate will decrease by 0.25% and will increase back if you stop making monthly payments (or we stop accepting) automatically by EFT from your 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.

  8. 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.

  9. AutoPay / EFT Discount: If you choose to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the rate will decrease by 0.25% and will increase back if you stop making monthly payments (or we stop accepting) automatically by EFT from your 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.

  10. The variable Annual Percentage Yield (APY) indicated is accurate as of August 1, 2023, and is subject to change at any time. No minimum balance is required to earn the APY. Fees may reduce earnings on the account. For current rates visit laurelroad.com/high-yield-savings-account/#rates-fees-jump.  

  11. Primary account holder is eligible to earn monthly rewards of up to $20 a month from the second through thirteenth statement periods, which is considered your “first year.” From the fourteenth statement period onward, the eligible reward will be $10/month for as long as the Laurel Road Loyalty Checking account (“Account”) is open. To earn monthly rewards, you must make qualifying Automated Clearing House (ACH) direct deposits into the Account totaling at least $2,500 during the statement period. If you were the primary owner on another Laurel Road checking account at any time within the prior 24 months of Account opening, rewards are limited to $10 per statement period during the life of the Account. Qualifying Direct Deposit – A direct deposit from an employer payroll, payroll provider service, or benefits payer (such as Social Security or Military Pay), pension, and must be clearly identifiable to Laurel Road as such. Non-Qualifying Deposits – Person to Person payments such as but not limited to (Zelle, PayPal, Cash App, or Venmo). Mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions. In addition, any deposit to which Laurel Road deems to not be a qualifying direct deposit. Only one Loyalty Checking account per primary account holder. Account must be in good standing and cannot be closed at the time of reward payment. Offer is subject to cancellation or change without notice, and cannot be combined with other checking bonus, reward, or rate discount offers, excluding any promotional offer for opening the Account. The value of the monthly rewards may be reported to the IRS on Form 1099-INT.

  12. You must open a Laurel Road Loyalty Checking account by 04/04/2024 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 Loyalty Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $100, which will be deposited into your account within 60 days of meeting requirements. Qualifying Direct Deposit – A direct deposit from an employer payroll, payroll provider service, or benefits payer (such as Social Security or Military Pay), pension, and must be clearly identifiable to Laurel Road as such. Non-Qualifying Deposits – Person to Person payments such as but not limited to (Zelle, PayPal, Cash App, or Venmo). Mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions. In addition, any deposit to which Laurel Road deems to not be a qualifying direct deposit. You are not eligible for the bonus if you were the primary owner on any Laurel Road checking account within the prior 24 months before opening the new checking account. The bonus value may be reported to the IRS on Form 1099-INT. Accounts must be in good standing and cannot be closed at the time of bonus payment. Offer is subject to cancellation without notice and cannot be combined with any other checking account 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. Click here for current Laurel Road Loyalty Checking Rates. Normal account service charges and miscellaneous charges may apply to the Laurel Road Loyalty Checking, which may reduce earnings.

Payment Examples

Assumptions: Repayment examples below assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include any discounts.

Fixed Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments
5 Year
7 Year
10 Year
15 Year
20 Year

 

Variable Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments
5 Year
7 Year
10 Year
15 Year
20 Year

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. Although the rate will vary after you are approved, it will never exceed 15.00%. 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.

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. This information is current as of July 10, 2023. Information and rates are subject to change without notice.

Terms and Conditions

STUDENT LOAN 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.

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-loans/ for more information.

For Associates Degrees: Only associates degrees earned in one of the following are eligible for refinancing: 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; or Surgical Technologist. To refinance an Associates degree, a borrower must also either be currently enrolled and in the final term of an associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive an eligible associate degree OR have graduated from a school that is Title IV eligible with an eligible associate and have been employed, for a minimum of 12 months, in the same field of study of the associate degree earned.

LOAN AMOUNT

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

For eligible Associates degrees in the healthcare field (see Eligibility & Eligible Loans section above), Lender will refinance up to $50,000 in loans for non-ParentPlus refinance loans. Note, parents who are refinancing loans taken out on behalf of a child who has obtained an associates degrees in an eligible healthcare field are not subject to the $50,000 loan maximum, refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-loans/ for more information.

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.