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Laurel Road and GradFin to Offer Public Service Loan Forgiveness (PSLF) Services

Press Release

Published May 09, 2022

Partnership expands Laurel Road’s offerings for healthcare professionals, particularly nurses, with new expertise in PSLF

(New York, NY —  May 9, 2022)Laurel Road, a digital platform of KeyBank with specialized offerings for healthcare and business professionals, today announced an expansion of Public Service Loan Forgiveness (PSLF) counseling services through Key’s acquisition of GradFin.  GradFin is one of the nation’s leading PSLF providers, based in Philadelphia, Penn.

On the heels of National Nurses Day, which celebrated and honored the entire nursing profession, Laurel Road is continuing its commitment to supporting nurses every day of the year. Offering increased expertise in PSLF is of particular importance, as many healthcare professionals utilize loans to cover training and graduate courses. According to the American Association of Colleges of Nursing, about 70% of nursing school students graduate with student loan debt and 57% of nursing students plan to utilize PSLF to reduce their debt[1].

“Laurel Road is thrilled to deepen our partnership with GradFin and bring the value of PSLF counseling to nurses and other members with the need. We have a unique opportunity to blend GradFin’s unmatched knowledge in PSLF with our understanding of the financial journey of healthcare professionals. This partnership enables us to invest in the distinct financial needs of that community and further support the nursing profession,” said Alyssa Schaefer, General Manager and Chief Experience Officer, Laurel Road.

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 students access to free consultations with student loan experts, helping them understand their options through student loan forgiveness, refinancing, or a combination of both. Working with Laurel Road, GradFin will further expand its company mission to focus on supporting the individuals who are continuously serving others.

“Student loans are complex, and we take pride in helping professionals become more informed and identify savings opportunities. When you think of supporting nurses, addressing their financial needs and worries isn’t always at the forefront. The opportunity to bring our hands-on approach to nurses and other healthcare professionals through our partnership with Laurel Road is a meaningful progression of our company mission – it’s why we are motivated to get up and work every day. Nurses have been on the front lines of the pandemic and if we can make one element of their life easier, it’s well worth it,” said Chris Walters, Head of GradFin.

Laurel Road has had a strategic focus on the healthcare professional sector since the business began originating loans in 2013. It recently expanded its suite of tailored digital banking and lending products to create Laurel Road for Doctors to provide financial help to doctors, physicians, and medical residents. Laurel Road also has plans to bring nurses a new offering later this year. The partnership with GradFin is one more step in its journey to create and deliver products that serve the financial needs of healthcare professionals.

About Laurel Road

Laurel Road is a digital banking platform and brand of KeyBank that provides tailored offerings to support the financial wellbeing of healthcare and business professionals. Laurel Road’s banking and lending solutions, including High Yield Savings℠ Account, Student Loan Cashback℠ Credit Card, Student Loan Refinancing, Mortgages, Personal Loans and more, provide our members with a simplified, personalized experience that helps them better navigate their financial journey and achieve life’s goals. Additionally, Laurel Road has reimagined banking and financial management for physicians and dentists through Laurel Road for Doctors, a tailored digital experience made up of banking, insights, and exclusive benefits to provide the financial help and peace of mind they need through each career stage. Since 2013, Laurel Road has helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $9 billion in federal and private school loans. For more information, visit http://www.laurelroad.com. Laurel Road is a brand of KeyBank National Association. All products offered by KeyBank N.A. Member FDIC. NMLS # 399797. Equal Housing Lender. © 2022 KeyCorp® All Rights Reserved. Laurel Road is a federally registered service mark of KeyCorp.

[1] American Association of Colleges of Nursing. (2017, October 18). 2017 Graduate Nursing Student Loan Survey. Retrieved from: https://www.aacnnursing.org/Policy-Advocacy/View/ArticleId/24952/AACN-Releases-2017-Graduate-Nursing-Student-Debt-Report