What is Laurel Road?
Laurel Road, a division of Key Bank, is a financial services company that offers student loan refinancing solutions. That have been originating student loans since 2013. In addition to refinanced loans, Laurel Road offers online banking and mortgages.
Laurel Road Loans
Laurel Road provides a solid variety of loan products from student loans to mortgage refinancing. They are committed to providing the most competitive rates they can offer in the market.
Laurel Road provides student loan refinancing and mortgage loans. They no longer offer in-school private student loans. They offer an online pre-qualification process that takes about 5 minutes and won't hurt your credit score.
Laurel Road provides the following loan products:
- Student Loan Refinancing
- Mortgage Loans
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Laurel Road Student Loan Refinance
Laurel Road offers refinance loans to borrowers who have successfully graduated with a four-year degree and/or a graduate degree from an eligible Title IV accredited school*. (Note borrowers with an associate degree must demonstrate employment history of at least 12 months in the same field of study as their degree.)
In addition, you must meet minimum credit criteria to be eligible. And cosigners can be used to help you qualify, if necessary.
Borrowers must meet minimum borrowing age requirements in the state they’re residing in at the time of application.
Laurel Road Parent PLUS Refinance
Parents can refinance any federal and/or private student loans borrowed on behalf of their child that were used only for qualified higher education expenses at an accredited U.S. undergraduate or graduate school which participated in the federal student aid programs.
Students can also assume their parent's loan(s) by refinancing them in their name. You will need to meet lending requirements, such as demonstrate sufficient income and credit history. As an option, you can also add a cosigner (like a spouse) to help you qualify.
How Do I Apply for a Laurel Road Student Loan Refinance?
Laurel Road offers an online application process through their website. The company indicates that you can find your rate in less than five minutes without a hard credit pull.
You can also explore our strong lineup of student loan refinance companies which we work with that offer competitive loans and rates, along with the option to refinance both federal and private loans together.
Pros and Cons of Laurel Road Student Loans
All loans have pros and cons, and we highly encourage you to do your homework before signing on the bottom line. Here are some things to consider for Laurel Road Student Loans.
| Pros | Cons |
|---|---|
| Low interest rates and fees (if you have strong credit) | The lowest rates advertised may not be what you qualify for; your rate could be higher based on credit history. Cosigners may be required. |
| Competitive refinancing loans with zero fees | Laurel Road no longer offers in-school loans; they refer you their partner, Sallie Mae |
| Flexible repayment options available | Not comparable to federal income-driven repayment plans |
| Parents have the ability to transfer Parent PLUS loans to their child through refinancing | Students must qualify on the strength of their own credit, including demonstrating income |
| Unique benefits like Laurel Road Perks! | Most perks are offered by Laurel Road partners and may not be student loan related |
| Cosigner release is available |
How Laurel Road Gives Back
Through its parent company's philanthropic arm, KeyBank Foundation, the company, is involved in a number of community initiatives. The company has invested $40 billion in community grants and charitable scholarships. This includes contributions to homeless veterans, nonprofit organizations dedicated to disadvantaged adults, and neighborhood sustainability initiatives.
Laurel Road Customer Service
Laurel Road provides an in-house customer service team that is available five days a week via phone or online chat.
Laurel Road Headquarters
Laurel Road bank branch headquarters is located in Shelton, Connecticut.