Member Name Benefits

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 have been employed for a minimum of 12 months in the same field of study of the associate degree. Also, the applicant must either (1) be currently enrolled in 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 (2) have graduated from a school that is Title IV eligible with an associate degree in the following eligible programs:

• • 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
  • Associate’s in Applied Science (AAS) in any of the above fields

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/.

Yes, as a current Laurel Road Student Loan Refinance member you may be eligible to refinance your loan(s) again. If you currently have a student loan with Laurel Road and choose to refinance your student loan again with us, keep in mind that you will not be eligible for current new customer interest rate offers. A new application, including consent to a new hard credit inquiry will also be required. The rates and loan terms offered are dependent on current market rates and the applicant’s current financial standings, including but not limited to income, credit score, and debt-to-income ratio. If approved, the previous Laurel Road student loan balance will be paid off with a new Laurel Road loan.

For most of our loans, you will only need to provide a photo ID. We do require a school certification but we will request that from your school after you consent to a hard credit pull. If you have a co-signer, it may be necessary for the co-signer to provide proof of income.

Laurel Road offers a few different payment options while in school.

Full deferment: You can defer your interest payments while enrolled in school, in addition to the six-month grace period following graduation or termination of enrollment. Afterward, unpaid accrued interest is added to your loan balance and you will begin making full principal and interest payments.

*Flat $50 payments: You can make monthly payments of $50 beginning approximately one month after the final loan disbursement date up until completion of the six-month grace period. Afterward, unpaid accrued interest is added to your loan balance and you will begin making full principal and interest payments.

*Interest-only payment: You can choose to pay only the interest each month while you’re in the deferment period. This is a great way to make a dent in your interest while in school, without having to make the full repayment. Payments begin 1 month after each final loan disbursement date up until completion of the six-month grace period. Afterward, you will begin making full principal and interest payments.

*Immediate Repayment payment: You can pay the full principal and interest payment every month while you’re in school. This plan is for students who want to begin paying down their student loans while enrolled in school.

*When selecting a flat, interest-only, or an immediate repayment option, payment is required only after the final disbursement for loans with multiple disbursements. Interest will accrue between disbursements and will be added to the principal amount of your loan at the beginning of the full repayment period. For more information, review your final closing documents for a detailed overview of your repayment terms.

You can find your current savings account interest rate on your monthly statement, or you can contact us by calling (833) 427-2265 or emailing [email protected] for assistance.

For TTY/TRS (for the hearing impaired), dial 711.

A high yield savings account is a deposit account that typically pays more interest than an average savings account.