+ LR-Icons

In-school MBA Loans

We can help you get where you want to go, faster

Get on the road to success with low rate student loans to help finance your MBA.

Personal Loans

Life can be expensive. We can help.

Borrow up to $45,000 with flexible terms to fit your needs. Use a personal loan to pay off high rate credit cards and other high-interest debt, to make home improvements, and more.

Personal Lending for Medical Professionals

Customized loans for physicians and dentists

Borrow up to $80,000 with low, fixed interest rates.

Personal Loan for Medical Residents

Borrow against your earning potential

Personal loans for health professionals, with approval decisions based on what you are likely to earn after residency.

Get Money Smarter

It doesn’t take business savvy to know that lower rates help you save.

How do we stack up? Compare our rates to Federal PLUS loan rates and fees. You’ll also see that Laurel Road doesn’t charge origination or prepayment fees, saving you even more.

Apply Now
Term
5 year
7 year
10 year
15 year
20 year
Fixed
4.83%-6.06%
5.04%-6.23%
5.16%-6.36%
5.57%-7.11%
6.12%-7.37%
Variable
4.68%-5.97%
4.89%-6.14%
5.01%-6.26%
5.47%-7.02%
6.07%-7.28%
Check My Rates

Rates in the above table denote APR.

See if you qualify

If you are currently pursuing your MBA at any of these schools, you may be eligible for low rates on an in-school MBA loan.

  • Arizona State University
  • Carnegie Mellon University
  • Columbia University
  • Cornell University
  • Dartmouth College
  • Duke University
  • Emory University
  • Georgetown University
  • Georgia Institute of Technology
  • Harvard University
  • Indiana University
  • Massachusetts Institute of Technology
  • Northwestern University
  • New York University
  • Rice University
  • Stanford University
  • University of California, Berkeley
  • University of California, LA
  • University of Chicago
  • University of Michigan
  • University of Minnesota
  • University of North Carolina, Chapel Hill
  • University of Pennsylvania
  • University of Southern California
  • University of Texas, Austin
  • University of Virginia
  • University of Washington
  • Vanderbuilt University
  • Washington University in St. Louis
  • Yale University
Terms and Conditions

MBA LOAN – RATE DETAILS, TERMS AND CONDITIONS

Laurel Road Bank is a Connecticut state-chartered bank offering products in all 50 states in the U.S., Washington, D.C., and Puerto Rico.  Laurel Road has helped thousands of professionals with graduate and undergraduate degrees across the country to refinance and consolidate over $3 billion in federal and private school loans.

Lending services provided by Laurel Road Bank, Member FDIC.

Laurel Road Bank is an Equal Opportunity Lender.

© 2018 Laurel Road Bank.

EFT DISCOUNT

The interest rate table above is inclusive of all Electronic Funds Transfer (EFT) discounts. To qualify for the EFT discount of 0.25%, monthly payments must be paid automatically from a bank account.

FIXED RATES

Fixed rate options consist of a range from 5.20% per year to 6.50% per year for a 5-year term, 5.40% per year to 6.65% per year for a 7-year term, 5.50% per year to 6.75% per year for a 10-year term, 5.90% per year to 7.50% per year for a 15-year term, and 6.45% per year to 7.75% per year for a 20-year term. The fixed interest rate will apply until the loan is paid in full (whether before or after default, and whether before or after the scheduled maturity date of the loan). The monthly payment for a sample $10,000 loan at a range of 5.20% per year to 6.50% per year for a 5-year term would be from $214.27 to $227.44.  The monthly payment for a sample $10,000 loan at a range of 5.40% per year to 6.65% per year for a 7-year term would be from $162.55 to $174.02.  The monthly payment for a sample $10,000 loan at a range of 5.50% per year to 6.75% per year for a 10-year term would be from $123.44 to $134.19. The monthly payment for a sample $10,000 loan at a range of 5.90% per year to 7.50% per year for a 15-year term would be from $96.21 to $110.07.  The monthly payment for a sample $10,000 loan at a range of 6.45% per year to 7.75% would be from $86.23 to $97.99.

However, if the borrower chooses to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the fixed rate will decrease by 0.25% when monthly payments are deducted and will increase back up to the regular fixed interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.

These repayment examples and the APRs listed above for each term assume you remain in school for twenty-one (21) months followed by a six month grace period. During school and grace period you make no payments and interest accrues until it is capitalized before full monthly repayments begin after your grace period.

VARIABLE RATES

Variable rate options consist of a range from 5.04% per year to 6.40% for a 5-year term, 5.24% per year to 6.55% per year for a 7-year term, 5.35% per year to 6.65% per year for a 10-year term, 5.80% per year to 7.40% per year for a 15-year term, and 6.40% per year to 7.65% per year for a 20-year term. The monthly payment for a sample $10,000 loan at a range of 5.04% per year to 6.40% per year for a 5-year term would be $212.68 to $226.41. The monthly payment for a sample $10,000 loan at a range of 5.24% per year to 6.55% per year for a 7-year term would be from $161.12 to $173.08.  The monthly payment for a sample $10,000 loan at a range of 5.35% per year to 6.65% per year for a 10-year term would be $122.19 to $133.31. The monthly payment for a sample $10,000 loan at a range of 5.80% per year to 7.40% per year for a 15-year term would be from $95.38 to $109.17. The monthly payment for a sample $10,000 loan at a range of 6.40% per year to 7.65% per year for a 20-year term would be $85.80 to $97.05.

Variable interest rates will increase or decrease on the first day of every month (“Change Date”) if the Current Index changes. Variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR), as published on The Wall Street Journal’s website on the 25th day of each month immediately preceding the “Change Date” rounded to two decimal places. For purposes of determining the 1-month LIBOR index, a business day is any Monday through Friday excluding U.S. federal holidays. If the 25th day of the month is not a business day, the reference date will be the most recent date preceding the 25th day of the month that is a business day.

Variable interest rates are calculated by adding a margin ranging from 2.96% to 4.32% for the 5-year term loan, 3.16% to 4.47% for the 7-year term loan, 3.27% to 4.57% for the 10-year term loan, 3.72% to 5.32% for the 15-year term loan, and 4.32% to 5.57% for the 20-year term loan, respectively, to the 1-month LIBOR index.

However, if the borrower chooses to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.

These repayment examples and the APRs listed above for each term assume you remain in school for twenty-one (21) months followed by a six month grace period. During school and grace period you make no payments and interest accrues until it is capitalized before full monthly repayments begin after your grace period.

MAXIMUM RATES

Borrowers who take out a variable loan will have a maximum interest rate of 12%.

EMPLOYMENT DISCOUNT

For fixed rate loans: Additional discount of 0.25% minus any increase in the 5 Year Treasury rates upon proof of graduation and two pay stubs or executed offer letter from employer showing salary of at least $100,000 per year.

For variable rate loans: Additional discount of 0.25% to margin upon proof of graduation and two pay stubs or executed offer letter from employer showing salary of at least $100,000 per year.

FEE INFORMATION

Laurel Road has no prepayment penalties. However, if Laurel Road does not receive any part of a payment within 15 days after the due date, it may assess a late fee not to exceed 5% of the late payment or $28, whichever is less. The 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

Up to the full cost of attendance.

ELIGIBILITY

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) and meet Laurel Road underwriting criteria (credit history requirements and full-time enrollment status in an eligible MBA program).

ELIGIBLE SCHOOLS

Arizona State University (W. P. Carey School of Business), Carnegie Mellon University (Tepper School of Business), Columbia University (Columbia Business School), Cornell University (Samuel Curtis Johnson Graduate School of Management), Dartmouth College (Tuck School of Business), Duke University (Fuqua School of Business), Emory University (Goizueta Business School), Georgetown University (McDonough School of Business), Georgia Institute of Technology (Scheller College of Business), Harvard University (Harvard Business School), Indiana University (Kelley School of Business), Massachusetts Institute of Technology (Sloan School of Management), New York University (Leonard N. Stern School of Business), Northwestern University (Kellogg School of Management), Rice University (Jones Graduate School of Business), Stanford University (Graduate School of Business), University of California, Berkeley (Haas School of Business), University of California, Los Angeles (Anderson School of Management), University of Chicago (Booth School of Business), University of Michigan (Ross School of Business), University of Minnesota, Minneapolis (Curtis L. Carlson School of Management), University of North Carolina, Chapel Hill (Kenan-Flagler Business School), University of Pennsylvania (Wharton School), University of Southern California (Marshall School of Business), University of Texas, Austin (McCombs School of Business), University of Virginia (Darden School of Business), University of Washington (Michael G. Foster School of Business), Vanderbilt University (Owen Graduate School of Management), Washington University in St. Louis (Olin Business School), and Yale University (School of Management).

DISBURSEMENT OPTIONS

The repayment of any loan will commence 6 months after graduation or 6 months after enrollment status is less than full-time. Students may also elect to pay the loan interest while in school or make principal and loan payments.

POSTPONING OR REDUCING PAYMENTS

After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship.

If Laurel Road agrees (in its sole discretion) to postpone or reduce any monthly payment(s) for a period of time, interest on the loan will continue to accrue for each day principal is owed. Although the borrower might not be required to make payments during such a period, it is to the borrower’s advantage and the borrower is encouraged to make payments during such a period. Making payments, or paying some of the interest, will reduce the total amount that will be required to be paid over the life of the loan. Interest not paid during any period when Laurel Road has agreed to postpone or reduce any monthly payment will be added to the principal balance through capitalization (compounding) at the end of such a period, one month before the borrower is required to resume making regular monthly payments.

LAUREL ROAD RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

This information is current as of July 31st, 2018 and is subject to change.