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Laurel Road Student Loan Refinance Review


ConsumersAdvocate.org Rating: 4 / 5 (Excellent)
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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 $9 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help 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. Laurel Road is a brand of KeyBank National Association which offers Student Loan Refinancing in all 50 states and Washington, D.C.

All loans are provided by KeyBank National Association, a nationally chartered bank.
 
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How is Laurel Road rated?

Breakdown

4.0/5
Loan Specifications
3.9/5
Eligibility Requirements
3.9/5
Customer Experience
4.4/5
Reputation

Overall Rating: 4 / 5 (Excellent)

Laurel Road offers standard refinancing products for borrowers with degrees from qualifying schools, parents of graduates, and medical interns and residents with residency loans.

The latter will find Laurel Road especially appealing for its option to pay a fixed monthly amount as opposed to capitalizing accrued interests.

The company's borrower qualifications and additional services are on par with market standards.

As evidenced by the company's consumer review site scores, Laurel Road's customer satisfaction rating is very high.

Laurel Road Loan Specifics

Loan Specifications - 4 / 5

Laurel Road refinances undergraduate and graduate student loans, as well as parent loans and medical residency loans.

A typical range of loan terms is available, and APRs will depend on the term length and whether the interest is fixed or variable. Its APR ranges are a few points lower than the competition.

Laurel Road gives borrowers who are currently employed as interns or residents the option of paying $100 per month, during which time accrued interests will not be capitalized. (1)
Loan Types
Undergraduate
Graduate
Career Training
Parent
Maximum Loan Amount
No maximum
Terms
5
7
10
15
20
Rates
Fixed
Variable
Fixed APR Range
4.99% - 8.90%
Variable APR Range
5.29% - 9.20%
Repayment Options
Full Repayment
Fixed Monthly Repayment
Deferment or Forbearance

Laurel Road Qualifications

Eligibility Requirements - 3.9 / 5

Per the company: "To be eligible for refinancing with Laurel Road, borrower, and co-signer if applicable, 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)"

For parent loan refinancing, the child must have graduated to be eligible.
Minimum Credit Score
Not disclosed
Income Verification
Positive Repayment History

Laurel Road Customer Experience

Customer Experience - 3.9 / 5

Laurel Road allows consumers to obtain pre-approval through their online application.

Prospective borrowers can also use the company's student loan refinance calculator to estimate their monthly loan repayment amounts.

Laurel Road's customer service representatives are available by phone, email, and live chat.
Online Quotes
Student Loan Refinance Calculator
Services
Live Chat

Laurel Road Company Reputation

Reputation - 4.4 / 5

Laurel Road's parent company, Key Bank, is rated A+ by the Better Business Bureau.

The company is also reviewed on Trustpilot, where it holds an excellent 4.4 out of 5 star score based on over 92% positive customer feedback.

Consumers who have worked with Laurel Road praise the company's straightforward application process and high customer service standards.
Lender Type
Online Lender
Year Founded
2013
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
2
Trustpilot Rating
4.4 out of 5
Date Collected
2022-08-01

Disclaimer

Rates current as of 12/23/2024. Rates subject to change. Terms and conditions apply. All products subject to credit approval.

Company's Disclosure

Laurel Road: Rates as of 12/23/24, rates subject to change. Terms and Conditions Apply. All products subject to credit approval. Please see all Laurel Road disclaimers here: https://www.laurelroad.com/partnerships/consumersadvocate/#disclaimers

Company Profile

Full Name
Laurel Road Student Loan Refinance
Company Website
https://www.laurelroad.com/
Headquarters
3 Corporate Drive, 4th fl, Shelton, CT, 06484

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Customer Comments & Reviews

Loading Reviews ...
uofmgoblow
8/25/2020
No options provided if they cannot offer assistance. Would assume this might be something to consider.

Our Partner

Rates Starting at 4.99% (Fixed) & 5.29% (Variable)

 

  • Save on interest when you open a Laurel Road checking account with direct deposit
  • Consolidate and refinance federal, private & parent loans
  • Refinance from $5,000 and up to the full balance of your loans

*Rates as of 12/23/24

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