+ LR-Icons

Graduate School Loans for GMAT Club Members

Pave the way for your next big move.

Members are eligible for a $100 welcome bonus when you take out a loan with Laurel Road!*

Are you enrolled in a graduate program at one of our eligible schools?

Answer a few short questions to find out if your program qualifies you for a Laurel Road in-school student loan!

What are you studying in graduate school?

What school do you attend?

Are you an international student?

Do you have a cosigner?

How many years do you have left?

Field(s) cannot be left blank.

We're sorry, Laurel Road does not currently offer graduate school loans for your school and degree at this time.

Start Over

Why Borrow with Laurel Road?

Low Rates

Discover your rate options online in less than five minutes

Flexible Repayment

Multiple repayment options available.

Employment Discount2

0.25% employment discount available after graduation.

No Hidden Fees

No application or origination fees or prepayment penalties.

Graduate School Financing

Seamless online application.

Our secure process makes it quick and easy for you to validate eligibility, view rates, explore loan options, complete your application and ultimately fund your graduate education.

Apply Now
Term
5 year
7 year
10 year
15 year
20 year
Fixed APR
4.63% - 7.33%
4.64% - 7.35%
4.92% - 7.36%
5.41% - 8.13%
6.05% - 8.77%
Variable APR
4.45% - 6.99%
4.49% - 7.04%
4.74% - 7.30%
4.99% - 7.56%
5.24% - 7.82%
Check My Rates

Eligibility and rates offered will depend on your credit profile and other factors. Rates in the above table assume a $10,000 loan and include a 0.25% discount for making automatic payments from a bank account. Variable APRs are subject to increase after consummation.
View Payment Examples

Flexible Repayment Options3

Full Deferment

You are not required to make payments while in school or throughout your grace period.

Flat Repayment

You’ll pay a flat $50 a month while in school and throughout your grace period.

Interest Only Repayment

You'll pay only monthly interest while in school and throughout your grace period.

Immediate Repayment

You’ll start making full payments right away.

Disclaimers

*The GMAT Club members $100 cash bonus is offered for applications from active GMAT Club members. The loan application must close in order to qualify for the bonus. Cash bonus will be paid within 60 days of closing. Offer cannot be combined with other Laurel Road offers, including the Referral Program. Existing customers are not eligible.

1Checking 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. Additionally, as part of the application process Laurel Road will request and your school must verify enrollment and cost of attendance.

2If you successfully graduate from an eligible program at an eligible institution and provide us with acceptable documentation that you have graduated and accepted employment, your interest rate will be reduced by 0.25%. Employment does not need to be in your field of study to qualify. Any rate reduction will be effective only after lender has confirmed and approved eligibility for the rate reduction. If the interest rate is adjusted due to the Employment Discount, your required monthly payment amount will be reduced in the next billing cycle following confirmation of eligibility.

3When selecting a fixed, interest only, or an immediate repayment option, payment is required only after the final disbursement for loans with multiple disbursements. Interest that accrues and is unpaid between disbursements and during any deferment period, as applicable (including any interest that accrues in excess of required in-school payments), is capitalized at the beginning of the full repayment period.

This is not a federal student loan. The terms of this product may differ from terms available with a federal student loan. For example, this product does not contain special features such as income-based repayment plans. Also deferment, forbearance options, and loan forgiveness options may differ from those available for federal student loans, and privately-funded student loans are not eligible to be included in a Federal Direct Consolidation Loan. For more information about Federal student loan programs, please visit https://studentloans.gov.

Payment Examples

Fixed Rate In-School Loan Repayment Example
Term Full Deferral $50 Minimum Payment Interest Only Full Repayment
Min Max Min Max Min Max Min Max
APR 5 4.97% 7.33% 4.88% 7.26% 4.75% 7.14% 4.63% 7.04%
20 6.40% 8.77% 6.30% 8.67% 6.17% 8.56% 6.05% 8.45%
Monthly Installment Payment 5 $199.85 $217.39 $187.67 $204.49 $188.98 $200.99 $188.52 $200.58
20 $79.76 $98.10 $74.45 $91.80 $73.39 $88.45 $72.72 $87.75
Variable Rate In-School Loan Repayment Example
Term Full Deferral $50 Minimum Payment Interest Only Full Repayment
Min Max Min Max Min Max Min Max
APR 5 4.95% 7.15% 4.86% 7.08% 4.73% 6.97% 4.61% 6.86%
20 5.75% 7.97% 5.64% 7.87% 5.52% 7.76% 5.40% 7.64%
Monthly Installment Payment 5 $199.71 $216.04 $187.54 $203.20 $188.89 $200.07 $188.42 $199.66
20 $75.10 $91.66 $70.06 $85.71 $69.50 $83.21 $68.84 $82.52

Assumptions: All repayment examples assume the student loan borrower is enrolled in an eligible program at an eligible school; the student loan borrower will successfully complete an expected 24-month in-school period followed by a 6-month grace period; a certified loan amount of $10,000 disbursed in two equal $5,000 amounts four months apart and a 0.25% discount for making automatic payments from a bank account during periods where payment is required.

Month Installment Payment: This term represents the fully amortizing payment billed monthly to the borrower during the repayment term.

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: For variable rate loans, the current index rate is 2.49% and may change monthly. The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”). Although changes in the LIBOR index may cause your monthly payment to increase it will never exceed 12% the maximum variable rate for this loan.

Automatic Payment (“AutoPay”) Discount: Following final disbursement during periods where payment is required, the AutoPay discount of 0.25% will apply if the borrower or co-signor chooses to enroll in and successfully makes scheduled payments automatically from a bank account via the Automated Clearing House (“ACH”). The automatic payment discount will be removed if you cease making automatic payments via ACH or if Laurel Road cancels your AutoPay authorization due to returned payments, delinquency, forbearance or otherwise. Discount not available during periods of deferment when no payment is required. The 0.25% AutoPay discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

Student Repayment Options: Student borrowers can select one of four available Repayment Options that determine the required payment amount, if any, while the student is enrolled. The Repayment Options include: (1) Full Repayment, (2) Interest Only, (3) Flat Payments, and (4) Full Deferral. For loans with multiple disbursements payment is required only after final disbursement when selecting flat, interest only, and immediate repayment options. You can reference our FAQs for more details on each Repayment Option.

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.

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

This information is current as of May 1, 2019. Information and rates are subject to change without notice.