AOA Member Benefits
Custom financial solutions for doctors.
As a doctor, each stage of your career brings unique challenges. Laurel Road offers a range of solutions customized to your needs.
Apply directly from this page for access to these offers. Enter code DO2024 if prompted.
Why Laurel Road for Doctors?
Doctors Have Bright Futures. We Think That's Worth Investing In.
Easy Online Solutions
Digital banking designed to help you save time and money.
Smart, Secure Technology
The trusted technology of a leading national bank.
Award-winning Experience
Our customers love us—we've funded over $9 Billion in loans.
Laurel Road High Yield Savings®
AOA Members get a $100 cash bonus for opening an account.1
AOA members can earn % Annual Percentage Yield (APY)2 – with our highly competitive high yield savings account. Plus, $0 cost to open and no minimum balance required to open.
View Laurel Road High Yield Savings Rates & Fees
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Personal Lending
AOA Members get a 0.25% rate discount.3
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 practice4
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 account5
Frequently Asked Questions
Questions come up, and we have answers.
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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/.
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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.
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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.
- 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.
- 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.
- 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.
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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
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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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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.
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This offer is only available to current Member Name members and is non-transferable. To receive the promotional offer of $100.00, Member Name members must open a Laurel Road High Yield Savings Account (HYS) by 12/31/2024 at 11:59 p.m. (ET). The $100.00 check will be mailed to the address on file within forty-five (45) business days of account opening. No minimum balance is required to open an HYS or receive the $100.00 promotional offer. Limit one promotional offer per qualifying Laurel Road HYS holder. Limit one offer per qualifying account and per individual. If you were the primary owner on a Laurel Road HYS within the prior twenty-four (24) months, you are not eligible. The value of the promotional offer may be reported to the IRS on Form 1099-INT. This offer is subject to cancellation at any time and without notice. This offer is not guaranteed if you do not meet Laurel Road’s HYS criteria 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 and are not authorized by Laurel Road.
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The variable Annual Percentage Yield (APY) indicated is accurate as of August 21, 2024, 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.
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The 0.25% Member Name member interest rate discount (“Member Discount”) is offered to personal loan applicants who are active Member Name Members. An additional 0.25% interest rate discount is also available to Member Name members who make personal loan payments through reoccurring electronic fund transfers (EFT) ( “AutoPay Discount”). The Member Discount and AutoPay Discount are only available at loan origination and at no other time, and will go into effect on the date the loan funds are disbursed. The Member Discount cannot be combined with any other offer, except the AutoPay Discount. Theses offers are subject to change without notice. This offer is not guaranteed if you do not meet Laurel Road’s personal loan or AutoPay Discount criteria. 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.
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LOAN AMOUNT: Minimum loan amount of $5,000. Maximum amount of $35,000 for loan purposes of Auto Purchase, Business, Green Loan, Moving Expenses, and Other. Maximum loan amount of $45,000 for loan purposes of Debt Consolidation, Major Purchase, and Home Improvement. Additional proof of use documentation is required to be eligible for loan amounts in excess of $35,000. If you a practicing Doctor [Doctor of Medicine (MD) or Doctor of Osteopathic Medicine (DO)] or Dentist [Doctor of Medicine in Dentistry or Doctor of Dental Medicine (DMD) or Doctor of Dental Surgery (DDS)] or if you are a resident, with one of the aforementioned degrees and a contract to start practicing within 12 months of application approval, you may be eligible to borrow up to $80,000.
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AutoPay/EFT Discount: if the borrower chooses to setup monthly payments automatically by electronic fund transfer (EFT) from a bank account before closing, the interest rate will decrease by 0.25%. The discount will be reflected in your monthly payment.
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.
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.