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Laurel Road Releases Credit Card with the Reward Millennials Really Want: Cashback to Pay Student Loans

Press Release

Published June 02, 2021

New Laurel Road Student Loan Cashback℠ credit card offers 2% cashback towards eligible student loan — federal or private loans held with an eligible loan servicer

BRIDGEPORT, CT – June 2, 2021 – Credit cardholders should be rewarded for sticking to their financial priorities — that’s the idea behind Laurel Road’s new Student Loan Cashback℠ credit card, which offers 2% cashback when applied to a student loan balance with an eligible servicer, not just Laurel Road student loans. Alternatively, the card offers unlimited 1% cashback on eligible purchases.

For many Americans, their top financial concern isn’t next year’s vacation or a down payment. It’s repaying their student loan debt, which nearly 30% of US adults between 30 and 39 are still tackling. The past year has paused mandatory student loan payments for most borrowers due to the COVID-19 pandemic, providing some much-needed relief to those most impacted by the pandemic. However, the temporary pause in payments doesn’t stop debt from being top of mind, and borrowers who have been lucky enough to remain financially secure through the crisis may be ready to jump start their repayments.

Laurel Road’s new Student Loan CashbackSM card offers benefits that align credit card rewards with supporting student loan repayment. In connection with this launch for a limited time cardholders can receive a $500 student loan cashback bonus or a $250 statement credit after spending $5,000 within the first 90 days of opening a new card.

So many credit card rewards programs reward users with miles, points or store credit. Laurel Road wanted to design a card with a more aspirational benefit; A card that will help any card holder with their student loan debt.

Key card features and benefits:

  • 2% student loan cashback with eligible servicers or 1% cashback statement credit
  • Limited time offer: $500 student loan cashback bonus or a $250 statement credit after spending $5,000 within 90 days of opening a new card
  • $0 annual fee
  • 0% foreign transaction fee

Laurel Road is a brand of KeyBank N.A. Member FDIC.

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 SavingsSM Account, Student Loan CashbackSM 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 physician 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 $7 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. © 2021 KeyCorp® All Rights Reserved. Laurel Road is a federally registered service mark of KeyCorp.