New initiatives provide student debt savings, mental health resources and energizing care packages for healthcare professionals on and off the frontlines.
New York, NY – April 29, 2020 – Amidst the current public health crisis, Laurel Road—a digital lending platform and brand of KeyBank — today announces extended support to healthcare professionals across the U.S through a set of initiatives that help drive financial goals and mental well-being, including specialized pricing on Laurel Road’s student loan refinancing product for select healthcare professionals, free access to leading online counseling, break room care package deliveries for hospital staffs across the country and donations to local organizations providing meals for frontline healthcare workers.
“Healthcare workers are no strangers to hard work under normal circumstances, but they currently face even more demanding schedules, distressing work and health risks as they work tirelessly to treat COVID-19 patients and keep the rest of us healthy. In addition, private practitioners are being impacted by business closures and experiencing an additional level of financial stress at this time,” said Alyssa Schaefer, Chief Marketing Officer and Head of Product and Strategy of Laurel Road. “We are proud to have many healthcare professionals as our customers and with these initiatives, hope to support them in new ways as they continue to focus on helping others.”
Laurel Road is providing financial benefits and partnering with relevant organizations to address a range of challenges faced by doctors, dentists, nurses and other healthcare workers during this time:
- Student Loan Management in Uncertain Times – According to the Association of American Medical Colleges, three-quarters of the class of 2018 have student loan debt to repay, with the average medical school debt totaling $196,520. Through Laurel Road’s specialized offering, doctors, dentists, physician assistants and nurses will receive special pricing on top of already competitive rates that may help them maximize savings over the life of their loans. Healthcare professionals may also gain peace of mind through the time saved by using Laurel Road’s simplified, personalized platform.
- Laurel Road and BetterHelp Team Up to Support Mental Health – To help support their mental health, Laurel Road has partnered with BetterHelp to provide a free month of professional online counseling. Through this program, BetterHelp will match healthcare professionals with a professional therapist that they can speak with online at their convenience about a broad range of mental health challenges, including concerns or stress related to work, health, family, finances and more.
- Saying Thanks to Healthcare Heroes – As a small gesture of thanks for hospital staff, Laurel Road is sending weekly care packages to the break rooms in hospitals around the country, including Seattle, New York City, Detroit, Washington D.C and New Orleans over the next two months. These care packages will contain small tokens and treats to help rejuvenate and motivate hospital staff as they work long hours fighting COVID-19. Hospital workers in the U.S. can request to receive one of these packages for their team by reaching out to Laurel Road via direct message on Instagram. While lending support to healthcare professionals nationwide, Laurel Road will also be honoring its Connecticut roots by making weekly donations for the next month to Food For the Front Lines, a local organization providing meals for healthcare workers from local restaurants in the greater Bridgeport, CT area, where Laurel Road’s operations center is located.
For more information on these initiatives and how Laurel Road is giving back to the healthcare community, visit our blog.
About Laurel Road
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $5 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products, mortgages and personal loans that helps simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. For more information, visit www.laurelroad.com. 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. The mortgage product is not offered in Puerto Rico. KeyBank is a Member FDIC, Equal Housing Lender. NMLS ID # 399797.
KWT Global for Laurel Road