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 Refinancing
Residents are eligible for $100 monthly payments throughout training.1
Plus, White Coat Investor readers receive a $550 cash bonus.2 Discover your personalized rate options online in only a few minutes—with no impact to your credit score!3
Check My RatesIMPORTANT 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.
Laurel Road Linked Checking®
Lower your refi rate when you add a new checking account.
Open a Laurel Road Linked Checking account during student loan refinancing and get an introductory 0.25% off your rate for the first 3 months. After that, your rate discount varies based on your total qualifying monthly direct deposit amount – you could lower your student loan refinancing rate by up to 0.80% with autopay discount.4
Apply NowWhy Refinance Your Student Loans with Laurel Road?
Student Loan Cashback® Card
Redeem 2% cashback toward any eligible student loan.7
Introducing the first card that lets you redeem 2% cashback toward your student loans with any eligible servicer.8 You can also earn $300 in introductory cashback rewards towards any eligible student loan after you spend $3,000 in the first 90 days with your Laurel Road Student Loan Cashback card.8
View Cardmember Agreement | View Rates and Fees Table
Apply Now
Laurel Road High Yield Savings®
Earn 3.80% Annual Percentage Yield (APY).10
WCI readers can earn competitive rates on your entire account balance and make every dollar count.
Plus, no minimum balance to open, and no monthly maintenance fees.
View Laurel Road High Yield Savings Rates & Fees
Get Started
Mortgage Lending For Residents
White Coat Investor readers can receive a 0.25% relationship discount.11
Readers with a Laurel Road checking account can receive a 0.25% relationship discount on their mortgage. Explore special financing options available with a Physician Mortgage,† including low down payment options.12
To get started, speak to a KeyBank mortgage specialist at 1-877-801-4686
†Geographic limitations apply.
Personal Lending for Residents
Customized personal loans for medical residents.
Borrow up to $45,000 with a personal loan for residents if you're in training or have a match letter.13
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 account14
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.
Frequently Asked Questions
Questions come up, and we have answers.
-
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
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.
- 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
Who is eligible to refinance their student loan 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 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
-
-
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.