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APTA Member Benefits

Reward yourself with a special offer for APTA members.

As a member of the American Physical Therapy Association, you're eligible to receive special offers from Laurel Road.

Apply directly from this page for access to these offers.

Student Loan Refinancing

APTA Members get a 0.25% rate discount.1

Discover your personalized rate options online in only a few minutes—with no impact to your credit score!2

Check My Rates

NEW! Laurel Road Checking℠

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

Open a Laurel Road Checking℠ account during student loan refinancing and get an introductory 0.25% off your interest rate for the first 3 months. After that, your interest rate discount varies based on your total monthly direct deposit amount – you could get a student loan refinancing rate as low as 1.12% variable APR.3

Plus, get a $500 cash bonus with $2,500 in direct deposits – for a limited time only.4

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 available5

Additional 0.25% discount when automatic monthly payments are made from a bank account6

Personal Lending

APTA Members get a 0.25% rate discount.7

Borrow up to $80,000 with a personal loan if you're in practice or within 12 months of completing training and have a signed contract to practice.

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 account6

NEW! Student Loan CashbackSM Credit Card

APTA Members get a $100 cash bonus after activating.8

Introducing the first card that lets you redeem 2% cashback toward your student loans with any eligible servicer.9 You can earn $500 in introductory cashback rewards towards any eligible student loan after you spend $5,000 in the first 90 days with your Laurel Road Student Loan Cashback℠ card.10

View Cardmember Agreement | View Rates and Fees Table

Apply Now

Mortgage Lending

APTA Members get a 0.25% rate discount.11

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

0% down payment options available12

No private mortgage insurance required – for lower monthly payments13

Flexible and low interest rates – with fixed and variable options

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

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

    All credit products are subject to credit approval

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

  2. 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.

  3. Annual Percentage Rate (APR) shown are as of 9/23/2021 and subject to increase without notice. Based on applications between July 2019 to June 2021, approximately 11% of applicants qualified for our lowest advertised rate. Lowest rate quoted above assumes excellent credit and low debt, housing, and alimony expenses relative to income. Otherwise, a higher rate will apply. Rate shown above includes a 0.55% discount for having a qualifying direct deposit of at least $7,500 credited to a Laurel Road Checking account for every statement period of the term of the loan, a 0.25% discount for AutoPay, a 0.25% APTA member discount, and a loan with a term of 60 months. Variable APRs are subject to increase after consummation.

    The Laurel Road CheckingSM discount is available to borrowers who open a Laurel Road CheckingSM 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% interest rate discount for their first three monthly billing cycles. Starting with the 4th billing cycle and continuing with each billing cycle thereafter, the interest rate discount applied each billing cycle will be based on the amount deposited via qualifying Automated Clearing House (ACH) transactions into the Laurel Road CheckingSM 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. To continue to receive the discount for the 4th billing cycle, you must begin making qualifying ACH deposits to your Laurel Road 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 Linked SavingsSM discount. Click here for more information on the Laurel Road CheckingSM account and student loan rate discounts.

  4. Effective October 20, 2021, you must open a Laurel Road CheckingSM account simultaneously while refinancing your student loan with Laurel Road by 12/31/2021 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 CheckingSM account totaling at least $2,500 within the first 60 days after account opening to receive the $500, which will be deposited into your account within 60 days of meeting requirements. Normal account service charges apply to the Laurel Road CheckingSM. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. Limit one gift per qualifying account. Limit one gift per individual. The value of the gift will be reported to the IRS on Form 1099-INT. If you close your account within the first 180 days of account opening, you will be charged a $25 account early closure fee. Other miscellaneous charges may apply. Accounts overdrawn or closed at the time of gift payment are not eligible. Offer is subject to cancellation without notice and cannot be combined with any other 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.

  5. 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.

  6. 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.

  7. The 0.25% American Physical Therapists Association (APTA) member interest rate discount is offered for personal loan applications from active APTA members. The rate discount will end if APTA 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 APTA member interest rate discount cannot be combined with other offers, except any discount for making automatic payments.

  8. A $100 cash bonus offer is available to current non-college student APTA members who apply and are approved for a Laurel Road Student Loan CashbackSM Credit Card. The $100 cash bonus will be paid within 45 days of the member's activating the credit card. Existing credit card customers are not eligible.

  9. 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. For more information, view Laurel Road Student Loan CashbackSM Credit Card Program Terms and Conditions.

    Eligible student loan servicers include the following:
    Laurel Road – MOHELA Loan Servicing; Alaska Commission (ACPE); American Education Services; Aspire Servicing Center; Bank of North Dakota; College Ave Student Loans; College Foundation Inc.; CommonBond; CornerStone U.S Department of Education; CornerStone Education Loan Services; Discover Student Loans; Earnest Operations LLC; EdFinancial Services U.S Department of Education; EdFinancial Services; FedLoan Servicing Department of Education; First Mark Services; Great Lakes U.S Department of Education; Granite State Management & Resources; Granite State Management & Resources – U.S Department of Education; Heartland – ECSI; Kentucky Higher Education Student Loan Corporation; Launch Servicing; Lendkey Technologies Loan; MOHELA-SoFi; MOHELA-U.S Department of Education; MOHELA Education Loan Servicing; National Student Lona Services; Navient Commercial Loans; Navient – U.S. Department of Education Loan Servicing; Navient Private Loans; NaviReFi; North Carolina State Education Assistance Authority; Nelnet ” J ”; Nelnet ” D ”; Nelnet E Department of Education; NJHESAA or NJ Class; North Texas HEA; Oklahoma Student Loan; Oklahoma Student Loan U.S Department of Education; PenFed Credit Union; ReliaMax Ln. Services LLC; Rhode Island Student Loan Authority; RSLFC Payment Center; Sallie Mae; SEAA Repayment Services; Tuition Options; UAS; UHEAA; VSAC Payments; Wells Fargo Education Loan.

    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.

  10. Introductory offer: For a limited time earn a cashback bonus offer after spending $5,000 within 90 days of account opening. Account must be opened before 11:59pm ET on 12/31/2021. The bonus cashback amount will be $500 if redeemed towards student loans with an eligible servicer. The bonus cashback amount will be $250 if redeemed for statement credit. 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.

  11. The interest rate discount of 0.25% is offered to borrowers that are an active APTA 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.

  12. 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.

  13. 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). Retired doctors are not eligible. Additional conditions and restrictions apply.

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 3.45% – 5.80% 3.45% – 5.80% 60 $181.69 - $192.40 $10,901.62 - $11,543.96
7 Year 4.25% - 6.25% 4.25% - 6.25% 84 $137.84 - $147.29 $11,578.71 - $12,372.11
10 Year 4.35% - 6.65% 4.35% - 6.65% 120 $102.92 - $114.31 $12,350.02 - $13,717.52
15 Year 4.75% - 7.05% 4.75% - 7.05% 180 $77.78 - $90.16 $14,000.97 - $16,229.27
20 Year 5.05% - 7.27% 5.05% - 7.27% 240 $66.27 - $79.16 $15,905.30 - $18,998.12

 

Variable Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments
5 Year 2.24% - 6.30% 2.24% - 6.30% 60 $176.33 - $194.73 $10,579.77 - $11,683.56
7 Year 4.00% - 6.35% 4.00% - 6.35% 84 $136.69 - $147.77 $11,481.80 - $12,412.62
10 Year 4.25% - 6.40% 4.25% - 6.40% 120 $102.44 - $113.04 $12,292.50 - $13,564.78
15 Year 4.50% - 6.65% 4.50% - 6.65% 180 $76.50 - $87.94 $13,769.88 - $15,828.74
20 Year 4.75% - 6.90% 4.75% - 6.90% 240 $64.62 - $76.93 $15,509.37 - $18,463.39

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. 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%. 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 October 1, 2021. 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-plus-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-plus-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.