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Laurel Road and ProMedica Partner to Empower Physicians to Take Control of Medical School Debt

Press Release

Published February 11, 2020

Non-Profit Healthcare Organization ProMedica announces partnership with digital lender Laurel Road to offer physicians suite of student loan refinancing benefits

Toledo, OH (February 11, 2020)ProMedica, a national integrated health care system, announced its ProMedica Physicians Group (PPG) will partner with Laurel Road, a digital lending platform and brand of KeyBank, to offer its physicians and advanced practice providers a simple, easy, and secure digital experience as well as special programs to help better manage their student loan debt. ProMedica will offer this benefit to promote financial well-being for the more than 2,000 contracted providers, which could help them to save on their student loan debt.

“ProMedica is excited to offer this resource to our team,” said Angela Brandt, president of ProMedica Physicians Group. “At ProMedica, we believe in wellness for our patients, but this focus extends to the health professionals who make our mission possible every day. With the rising costs of student loans impacting the financial well-being of medical professionals across the nation, we are proud to partner with Laurel Road to bring our Physicians Group this valuable tool to help them better manage their student loan debt and secure savings over the life of their loans.”

Physicians and advanced practice providers take on significant student debt throughout their medical education, with 73 percent of medical school students in the class of 2018 graduating with student debt. ProMedica’s partnership with Laurel Road will provide an essential resource for its contracted providers, helping them better manage their financial lives

“We are delighted to provide our refinancing tools to an esteemed health care organization like ProMedica,” said Paul Bamundo, SVP, head of business development & marketing partnerships for Laurel Road. “With student loan debt in the United States surpassing $1.6 trillion, Physicians and Physician Assistants are especially susceptible to student loan debt due to the advanced schooling these fields require. We appreciate and support the incredible—and essential—work completed by these healthcare professionals every day and are pleased to play a role in supporting their financial journeys.”

Benefits from employers that improve the financial well-being of its employees are increasingly in-demand. For employers, offering comprehensive student loan resources can be a key differentiator to attract and retain the best talent. Laurel Road’s employer benefits are designed to reduce stress commonly associated with student loan debt and their secure, digital lending platform can be tailored to fit any organization’s unique needs.

To learn more about offering student loan benefits for employees, visit laurelroad.com/partnerships/