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Personal Loan for Medical Residents

Borrow against your earning potential.

Laurel Road offers personal loans are tailored specifically for health professionals and decisions are made based on what you are likely earn after residency.

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Get a Head Start

Personal Loan payments as low as $25 per month.

We recognize the investment you've made in your future and have designed special personal loan products with low rates to reward your determination. Get rates in as little as five minutes and if approved receive funds in about five business days from approval.

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Why you’ll love us

Online Application

Complete the entire process online from home at your pace.

Borrow up to $45,000

If you're in training or have a match letter, you can borrow from us.

Autopay Discount*

Eligible for discount of 0.25% when monthly payments are made automatically from a bank account.

5 year
7 year
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For residents, eligibility and rates offered will depend on your credit profile, total monthly debt payments, and income projections post training. Rates, in the above table include a 0.25% discount for making automated payments from a bank account. For residents who request a partially deferred payment period, before entering a full repayment period, the interest rate will be based on the nearest term offered that includes the entire term of their loan - the partially deferred payment period plus the full repayment period. For example, if a resident or fellow applies for a 3 year loan, with a 3 year partially deferred payment period, they will receive a rate offer within the 7 year range above. For important additional information, please see the Terms and Conditions at the bottom of the page.

Learn About Personal Loans

Understand the ins and outs of personal lending.

Frequently Asked Questions

Questions come up, and we have answers.

  • Who is eligible for a Laurel Road Personal Loan?

    All U.S. Citizens or permanent residents with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date) are eligible to apply for a Laurel Road Personal Loan. Loan eligibility also depends on your credit history and financial profile. If eligible, Laurel Road will perform a soft credit pull to provide you with conditional rates, so you can check your eligibility with no impact to your credit score.


  • Is there a minimum or maximum amount that I can borrower with a Laurel Road Personal Loan?

    The minimum loan amount is $5,000. For auto purchases, business ventures, green loans, moving expenses, and miscellaneous purposes, the maximum loan size is $35,000. For debt consolidation, major purchases, and home improvements, the maximum loan amount is $45,000. Additional documentation may be required to be eligible for a loan in excess of $35,000.

    If you are a physician or dentist in practice or within 12 months of completing training with a signed contract to practice, the maximum loan amount is $80,000. If you are a physician or dentist still in training without a contract to practice, the maximum loan amount is based on your training year as follows: Match Letter or PG1 is $30,000, PG2 is $35,000, PG3 is $40,000, PG4+ or Fellow is $45,000.

  • Is the Laurel Road Personal Loan secured or unsecured?

    Our personal loans are unsecured.

  • What can I use a Laurel Road Personal Loan for?

    A Laurel Road Personal Loan can be used for almost any purpose except for education-related expenses. Some examples include consolidation of high rate debt, making home improvements, or financing major family purchases.

  • What is the personal loan application process like?

    It’s actually pretty simple – the entire application can be completed online, and you can receive conditional rates in as little as two minutes.

    1. Fill out a short application with basic information including information about your employment and history. Once you authorize a soft credit pull and assuming you have provided enough information, we will provide you with conditional interest rates.
    2. Upload your supporting documents to Laurel Road’s secure dashboard 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.
    3. Select your loan type and term; you can e-sign all necessary disclosures and the promissory note in the Laurel Road dashboard.

    The loan will be disbursed on the date shown in your final Truth in Lending statement.


  • Will applying for a personal loan affect my credit?

    Laurel Road will perform a soft credit pull at the start of the application process to provide you with conditional rates and loan terms; this has no impact on your credit score. If you choose to move forward with your loan application, Laurel Road will make a hard credit inquiry so that we may view your full credit report and make final rate offers.These hard credit inquiries are common and necessary to obtain a loan and may impact your credit score.

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* Terms and conditions apply.

Terms and Conditions


Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. Mortgage lending is not offered in Puerto Rico. All loans are provided by KeyBank National Association.

As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.


This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.


Loans are available in terms of up to 5 years and up to 7 years including any Reduced Payment Period. APRs range from 8.49% per year to 15.63% per year for repayment terms up to 5 years and 8.99% per year to 16.50% per year for repayment terms up to 7 years. APRs assume a loan of $45,000 loan for the highest APR and a loan of $10,000 for the lowest APR.


Monthly payments can range from $232.40 to $358.94 after exiting training for a $10,000 loan. Monthly payments can range from $1,094.90 to $1,688.92 after exiting training for a $45,000 loan. These payments assume a 24 month reduced payment period while the borrower is in residency.


If at the time of disbursement you are employed full time as an intern, resident, fellow or similar post graduate medical trainee, or in your final year of school, you are eligible to make a Reduced Payment of $25.00 per month. Reduced Payments last as long as you are in training but are not to exceed a total of 48 months after which any unpaid interest will be capitalized and a new repayment schedule calculated to reflect your full monthly payment.


The interest rate you are offered will depend on your credit profile, income, and total debt payments. If you are a doctor or dentist, your rate will also depend on whether you have secured employment for after residency and length of training remaining.


Authorizing the loan servicer or lender to automatically deduct monthly payments from a bank of your choice. Borrowers receive a 0.25% rate discount if they pay via Automatic Payment.


Lender has no origination fees.


If you are a doctor or dentist, minimum loan amount of $5,000. Maximum amount of $80,000 for those in practice or residents in training with a contract to practice to start within 5 months. Maximum amount of $45,000 for those in training without a contract to practice to start within 5 months.


Must be a U.S. Citizen, or Permanent Resident with a valid I-551 card and meet DRB underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements). If you are applying for a doctor or dentist personal loan, you must also have a degree of MD, DO, DMD, or DDS. You are also eligible if you are in your final academic year and have a match letter or contract that requires one of the aforementioned degrees.


The repayment of any loan will commence immediately after disbursement by Lender.


This information is current as of April 3, 2019 and is subject to change.