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Refinance Student Loans

Special Pricing for Physicians, Dentists, Nurses, and Physician Assistants.1

Now more than ever, the healthcare community needs our support. Laurel Road is offering reduced rates for physicians, dentists, nurses, and physician assistants.

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Student Loan Refinancing

Providing Financial Relief For The Front Lines.

Laurel Road is committed to partnering with healthcare professionals throughout their career journey and financial milestones. We recognize that now is an especially challenging time for everyone. Laurel Road is offering reduced rates for physicians, dentists, nurses, and physician assistants.

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Federal Repayment vs. Refinancing

Is refinancing now right for you?

You may be asking if now is a good time to take advantage of low rates to refinance. Use our calculator below to compare the benefits of a refinanced loan against the Standard Repayment Plan for Federal Loans. For physicians, dentists, nurses, and physician’s assistants, the calculator will also show the estimated impact of Laurel Road’s special price reduction.

Please enter Loan balance, Fed Interest Rate, Fed EMI & remaining months.
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Student Loan Payment And Interest Estimator

Estimate Your Total Payments

This calculator is for illustrative purposes only and does not take into account benefits currently offered by the federal government and should not be used for loans being repaid under a federal program other than the Standard Repayment Plan. For additional details click here.

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You can earn up to $400 when you refer your friends and they refinance their student loan with us. Our easy-to-use slider lets you determine how much you and your friend will earn. Refer a friend today – you don't have to be a Laurel Road customer to participate!

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Student Loan Resources

Get the most out of refinancing.

Frequently Asked Questions

Questions? We've got answers.

  • How does the student loan refinancing process work?

    It’s actually pretty simple – the entire application is completed online, and you can receive preliminary rate in as little as 5 minutes.

    1. Fill out a short application with basic information about your loan, education, and employment. Once you authorize a soft credit pull and assuming you have provided enough information, we will provide you with preliminary rates, which are conditional upon further underwriting review and authorize a hard credit pull.
    2. Upload your supporting documents to Laurel Road’s secure dashboard and authorize a hard credit pull 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 if approved.
    3. Select your loan type and term, and e-sign all necessary disclosures and your promissory note in the Laurel Road dashboard.

    Laurel Road will pay off your student loans to your current lenders and provide you with instructions to set up the servicing of your new loan. Your first payment to Laurel Road will be due one month from your disbursement date.

  • Who is eligible to refinance their student loan with Laurel Road?

    U.S. citizens or permanent residents with a valid I-551 form (“permanent green card”) are eligible to refinance student debts with Laurel Road.

    Laurel Road refinances student loans for working professionals with four-year undergraduate and/or graduate degrees from Title IV accredited institutions, as well as for professionals who have an associate degree* in designated professions. Graduate students and undergraduates in the healthcare industry can refinance student loans as early as their final semester of school, so long as they have a signed contract or letter of employment. Undergraduates with non-Healthcare related degrees can refinance student loans after 12 months of employment following graduation. We also refinance student loans for parents who took out debt to finance their child’s education. To be eligible for the Parent Student Loan Refinancing Program, the child must have attended a Title IV School but does not need to have graduated. Loan eligibility depends on lending criteria, such as your credit profile, monthly income, and monthly debt payments.

    * Additional eligibility requirements for Associate degree applicants:

    The applicant must either be currently enrolled and in the final term of the associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive the associate degree OR have graduated from a school that is Title IV eligible with an associate degree in the following eligible programs. The graduate must be employed, for a minimum of 12 months, in the same field of study of the associate degree earned:

    • Cardiovascular Technologist (CVT)
    • Dental Hygiene
    • Diagnostic Medical Sonography
    • EMT/Paramedics
    • Nuclear Technician
    • Nursing
    • Occupational Therapy Assistant
    • Pharmacy Technician
    • Physical Therapy Assistant
    • Radiation Therapy
    • Radiologic/MRI Technologist
    • Respiratory Therapy
    • Surgical Technologist
  • Why should I refinance my student loan?

    Refinancing student loans may add up to significant savings. For example, if you refinance multiple loans into one loan with a lower rate, and keep the loan term the same, you will accrue less interest over the life of the loan, saving you money on a monthly basis and over the course of the loan.

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Disclaimers

The calculator on this page is only intended to compare Federal Loans being repaid under a Standard Repayment Plan to a fixed rate student loan refinanced with Laurel Road. It is not intended to be used to compare Federal Loans being repaid under a: Graduated Repayment Plan; Extended Repayment Plan; Income Based Repayment Plan (IBR); Income Contingent Repayment Plan (ICR); Pay As You Earn (PAYE) Plan; Revised Pay As You Earn Plan (REPAYE); or Income Sensitive Repayment Plan. The calculator assumes that with both your current Federal Loan and the Laurel Road example loan, you make consecutive monthly payments based on the loan term data you input--in the case of the Federal Loan the calculator assumes you are not making monthly payments until October 2020, following the end of the CARES Act student loan relief period.

The information on this page is presented for general personal finance education and it is not intended to provide legal, financial, or tax advice. The accuracy of the calculated results is not guaranteed, and results are intended for illustrative purposes only. This calculator does not indicate whether you would qualify for a Laurel Road loan.

If you are refinancing any federal student loans with Laurel Road, you will no longer be able to take advantage of federal income driven repayment programs or student loan forgiveness, including but not limited to: Income Based Repayment (IBR), Pay As You Earn (PAYE), or Revised Pay As You Earn (REPAYE), and Public Service Loan Forgiveness(PSLF). For more information about the benefits of these federal programs and other federal student loan programs, please visit https://studentaid.gov.

  1. The specialized rates are offered to applicants who are physicians, dentists, physician assistants, and nurses with the following degrees: Doctor of Medicine (MD), Doctor of Osteopathic Medicine (DO), Doctor of Medicine in Dentistry or Doctor of Dental Medicine (DMD), Doctor of Dental Surgery (DDS), Physician Assistant Master of Science in Medicine (PA), Master in Nursing, Doctor of Nursing, Associate in Nursing, MA/MS/PhD in Nursing, Associate of Science Degree in Nursing (ASN), Bachelor of Science in Nursing (BSN). Not available to residents, fellows, or students.

  2. After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship. During any period of forbearance interest will continue to accrue. At the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principle amount of the loan.

  3. Automatic Payment (“AutoPay”) Discount: if the borrower chooses to make monthly payments automatically from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically from the borrower’s bank account. The 0.25% AutoPay discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of April 27th, 2020. Information and rates are subject to change without notice.

Terms and Conditions

ELIGIBILITY & ELIGIBLE LOANS

Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).

Borrowers may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school.

All loans must be in grace or repayment status and cannot be in default.  Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment.  Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more information.

For Associates Degrees: Only associates degrees earned in one of the following are eligible for refinancing: Cardiovascular Technologist (CVT); Dental Hygiene; Diagnostic Medical Sonography; EMT/Paramedics; Nuclear Technician; Nursing; Occupational Therapy Assistant; Pharmacy Technician; Physical Therapy Assistant; Radiation Therapy; Radiologic/MRI Technologist; Respiratory Therapy; or Surgical Technologist. To refinance an Associates degree, a borrower must also either be currently enrolled and in the final term of an associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive an eligible associate degree OR have graduated from a school that is Title IV eligible with an eligible associate and have been employed, for a minimum of 12 months, in the same field of study of the associate degree earned.

LOAN AMOUNT

For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing. If you are refinancing greater than $300,000 in student loan debt, Lender may refinance the loans into 2 or more new loans.

For eligible Associates degrees in the healthcare field (see Eligibility & Eligible Loans section above), Lender will refinance up to $50,000 in loans for non-ParentPlus refinance loans.  Note, parents who are refinancing loans taken out on behalf of a child who has obtained an associates degrees in an eligible healthcare field are not subject to the $50,000 loan maximum, refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more information.

FEE INFORMATION

There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less.  A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.