Laurel Road student loans: 2025 review

Refinancing with Laurel Road

Laurel Road is an online lender that offers student loan refinancing. While its refinance loans can be used for debt from any field of study, it caters to students in the healthcare field by offering special pricing to medical professionals looking to refinance. Graduate and undergraduate students both inside and outside healthcare can refinance their loans as soon as their final semester of school, as long as they have a signed employment contract.  

Borrowers with an Associates degree or parent student loans can also refinance with Laurel Road, though there are additional eligibility requirements they must meet. Those unsure of their options can schedule a free consultation with a student loan specialist to create a more personalized plan. The lender offers other financial products, including checking and savings accounts, that may provide a discount on your loan rate if you enroll.

Where Laurel Road stands out

• Few fees: Laurel Road doesn’t charge any application, origination or disbursement fees.
• Prequalification: You can check to see if you qualify with a soft credit check, which won’t impact your credit score.
• Expert guidance: You can schedule a free, 30-minute consultation with a student loan specialist to learn more about repayment and refinancing options.

Where Laurel Road falls short

• Relatively short grace period: Laurel Road’s six-month grace period pales in comparison to that of some other lenders. Ascent‘s grace period, for instance, stretches from nine to 36 months for some programs.
• Strict qualification: Laurel Road’s refinancing options for Associate degree applicants are stringent. You must be enrolled in the final term of a Title IV eligible school with an offer letter in the healthcare field you’re currently studying in. If you’ve already graduated, eligibility is limited to associate degrees in select programs.

Do you qualify for a loan with Laurel Road?

Eligibility requirements vary by loan type, but there are some common characteristics to be aware of. You’ll need to be attending or have graduated from a Title IV accredited institution. Graduate and undergraduate students can refinance as soon as their final semester at school if they have a signed letter of employment or contract.

For parent loan refinancing, the student must have attended a Title IV school but does not need to have graduated.

If you’re currently pursuing an associate degree, you may also be eligible to refinance if you meet one of the following criteria:

• You’re enrolled in the final term of an eligible associate degree program at a Title IV eligible school with an offer of employment in your field of study.

• You’ve graduated with an associate degree in an eligible health care program and have been employed for at least 12 months in your field of study. Visit Laurel Road’s website for the list of eligible programs.

Loan eligibility will also depend on your credit profile, income and debt-to-income ratio.

How to apply for a loan with Laurel Road

The application process for refinancing your existing undergraduate or graduate loans can be done completely online. Here’s what the application process will look like, according to Laurel Road:

1. Answer a few questions and authorize a soft credit pull to determine your estimated rates.
2. Upload the necessary documents to the online dashboard and authorize a hard credit pull. This completes the application, and, if you’re approved, you’ll receive your final rates and terms.
3. Select your loan type and e-sign the provided documents on the dashboard.
4. Begin payments in accordance with your repayment schedule.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

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