NHMS Member Benefits
Custom financial solutions for doctors.
As a doctor, each stage of your career brings unique challenges. Laurel Road offers a range of banking solutions customized to your needs.
As a part of the New Hampshire Medical Society you're eligible to receive special offers on Laurel Road products by applying through this page.
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.
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.
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 $110k in student loan forgiveness.2
NHMS 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
NHMS Member receive a $300 cash bonus.5
Discover your personalized rate options online in only a few minutes—with no impact to your credit score!6
Check My RatesWhy Refinance Your Student Loans with Laurel Road?
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
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.
-
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
What is GradFin?
GradFin was founded in 2015 to help student loan borrowers manage their loans, repay them faster, start saving earlier and achieve their financial goals. GradFin provides borrowers access to free consultations with student loan specialists, helping them understand their options through student loan forgiveness, refinancing, or a combination of both.
Now a brand of KeyBank N.A., GradFin’s specialists have over 50 years of combined experience in working in federal student loan management, including from former FedLoan Servicing trained employees, and have conducted over 60,000 consultations with borrowers since 2015.
-
STUDENT LOAN
What can I expect to learn in the 1-on-1 student loan consultation?
A GradFin student loan specialist will break down your student loan profile, provide a chart on what your new loan payoff could look like, answer questions about what terms are the best for your unique situation, and answer any application questions you may have.
If refinancing is determined to be your best option, they can help you understand what information impacts the interest rate that you might expect to be offered on your loan refinancing. Items such as your FICO score, income level, student loan balance, and current interest rate structure can impact your offer, and your specialist can walk you through how to qualify for the lowest rates on your loans.
-
STUDENT LOAN
What information do I need to provide prior to my free consultation?
After scheduling your consultation, you’ll receive an email with a link to GradFin Concierge, a secure online tool, where you’ll be asked to provide a number of items to build out your profile so that your consultant can give you the most accurate assessment based on your unique situation. These include:
- Types of loans that you currently hold (federal, private, direct, subsidized, unsubsidized, etc.)
- If you hold federal loans, you will be asked to provide the My Aid Data file, which you can obtain via your studentaid.gov account
- The balance and interest rate for each of your loans
- Current payment schedule
- Authorization for GradFin to conduct a soft credit pull, which will not impact your credit score
It’s good that Laurel Road actually wants to hear from you on how they can improve their services not only for you, but for other people who are going to refinance with them.
I think it’s great to have products for doctors because we have an unusual trajectory where we have high earning potential, but don’t always qualify for much on paper.
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.
-
GradFin and Laurel Road are brands of KeyBank N.A.
-
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.
-
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.
-
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.
-
A $300 cash bonus offered on new student loan refinance applications from active Member Name members. The loan application must close in order to qualify for the bonus which will be paid within 45 days of closing. Existing Laurel Road members are not eligible. This offer cannot be combined with any other discounts from Laurel Road affiliated partners or employers nor the Student Loan Refer-a-Friend Program.
-
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.
-
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.
-
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.
Estimated 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.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.
PHYSICIAN & DENTAL LOAN – TERMS AND CONDITIONS
FEE INFORMATION
There are no origination fees or prepayment penalties associated with the loan. A late fee may be assessed 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.
LOAN AMOUNT
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 practice starting within 12 months, you may borrow up to $80,000 (minimum loan amount of $5,000).
ELIGIBILITY
Must be a U.S. Citizen, or Permanent Resident with a valid I-551 card and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements). Must also have a Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Medicine in Dentistry or Doctor of Dental Medicine (DMD), Doctor of Dental Surgery (DDS).