The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site.
BestMoney.com
Laurel Road Cashback Credit Card Review
Reviews 423
Laurel Road Student Loan Cashback® Card
Visit Site
Laurel Road Student Loan Cashback® Card
Laurel Road Student Loan Cashback® Card
Great
Reviews 423
Michael Graw
Oct. 18, 2022
4 min read
Michael Graw
Laurel Road Student Loan Cashback® Card summary
Laurel Road was founded in 2013 to offer student loans, mortgages, and banking services. The company offers a cashback credit card that gives you 2% cashback towards student loans with most US loan servicers.1 There is no annual or foreign transaction fees and there is 0% APR for the first year on balance transfers made in the first 60 days.² Plus, you can earn $300 in cashback rewards when you spend $3,000 in your first 90 days as a cardholder.³
Pros
  • 2% cashback towards any eligible student loan
  • 0% intro APR on balance transfer for the first 12 months
Cons
  • Only 1% cashback if you take a statement credit
  • Requires excellent credit

Laurel Road Student Loan Cashback® Card at a glance

4.2
Editorial score

Fees

No annual fee, has other fees
4.0

Eligibility (credit score)

Only accepts excellent credit
3.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication
5.0

Customer service

Multiple communication options, wide range of hours
4.0

Online experience

Excellent site and app with detailed FAQs, help center, and transparency of rates and features
5.0

Laurel Road Student Loan Cashback® Card Laurel Road Student Loan Cashback® Card Apply Now

Overview

Laurel Road is a national lender founded in 2013. The company offers student loans, personal loans, and mortgages, as well as the Student Loan Cashback Card and a savings account.

The Laurel Road Student Loan Cashback Card® offers 2% cashback on most purchases if you use the rewards towards student loans with 95% of U.S. servicers, so the card’s usefulness isn’t limited if you have student loans from a company other than Laurel Road. In addition, you can get 1% cashback on purchases if you use the rewards for a statement credit.1

Suitable for?

The Laurel Road Student Loan Cashback Card® is most suitable for anyone who wants to use credit card rewards towards student loans. The 2% reward rate is very good for a card that doesn’t have an annual fee. Plus, you can claim your cashback on student loans serviced by most US lenders.

The Laurel Road card is also great for those who can take advantage of the introductory offers. You get $300 in cashback if you spend $3,000 within the first 90 days of receiving the card.3 You can also pay no interest for 12 months on balance transfers made in the first 60 days.2 So, this card can be helpful if you want to transfer a balance from another credit card with a high interest rate.

Interest Rates and Fees

The Laurel Road Student Loan Cashback Card® doesn’t have an annual fee or foreign transaction fees.  The card has a variable interest rate from 16.99% - 25.99% (variable) APR based on your creditworthiness. This APR will vary with the market based on the Prime Rate.

Annual FeeForeign Transaction FeeLate FeeAPR
$0$0Up to $3916.99% - 25.99% (variable)

Rewards & Cashback

The Laurel Road credit card offers 2% cashback on most purchases when you use the rewards toward eligible student loans. You can apply the rewards to a student loan balance with most major US servicers, including Laurel Road, EdFinancial, CommonBond, and more.1 If you want to use cashback for a statement credit, you receive a 1% reward on purchases instead of 2%.1

The card also comes with two introductory offers. First, all new cardholders can receive a one-time $300 cashback bonus when they spend $3,000 in the first 90 days.3 Second, Laurel Road offers 0% APR for 12 months on all balances transferred to the card in the first 60 days.2

The Application Process

You can apply for the Laurel Road Student Loan Cashback Credit Card® online. You will need to provide your social security number and agree to a credit check, as well as giving basic information about your employment status and income. The company makes an approval decision in minutes, and once you’re approved, Laurel Road will send out your new card within 7-10 business days.

Help & Support

Laurel Road offers customer service support by phone, live chat, and email. The company also has an FAQs page with specific information about the Student Loan Cashback Card.

Phone call hours: 7 am-11 pm (ET) 7 days a week

Security

Laurel Road’s online application is encrypted to protect your personal information. The card also comes with Mastercard ID Theft Protection, which helps you resolve any fraudulent charges on your account.

FAQ

Does the Laurel Road credit card work with Apple Pay?

Yes, the Laurel Road Student Loan Cashback Card® is compatible with Apple Pay®, Samsung Pay®, and Google PayTM.

How do I get the $300 bonus offer?

You can get the $300 introductory bonus by spending $3,000 on qualifying purchases within the first 90 days of activating your card.

Can I set up automatic payments?

Yes, you can set up automatic credit card payments through your online Laurel Road account.

Conclusion

The Laurel Road Student Loan Cashback Card® offers 2% cashback on most purchases when you use the rewards to pay off your student loans. The cashback can be used towards student loan balances with most US servicers.1 In addition, Laurel Road offers a $300 bonus when you spend $3,000 in the first 90 days. Best of all, the card has no annual fee. 

Laurel Road Student Loan Cashback® Card Laurel Road Student Loan Cashback® Card Apply Now

Methodology

This review was completed using information from the Laurel Road website.

Laurel Disclosure

*All credit products are subject to credit approval.

NOTICE: This is not a commitment to lend or extend credit. Conditions and restrictions may apply. All mortgage products are subject to credit and collateral approval. Mortgage products are available in all 50 U.S. states and Washington, D.C. Hazard insurance and, if applicable, flood insurance are required on collateral property. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.

1You will earn 2.0% in Cashback Rewards for each $1 spent on eligible Purchases if you redeem your Cashback Rewards towards your Student Loan with an eligible servicer. This equates to $0.02 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $2.00 in Student Loan Credit. You will earn 1.0% in Cashback Rewards for each $1 spent on eligible Purchases if redeemed for a statement credit. This equates to $0.01 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $1.00 in Cashback Rewards. Cashback is awarded based on eligible credit card purchases excluding transactions such as cash advances of any type, balance transfers, convenience check transactions, overdraft protection transfers and quasi-cash transactions.

Eligible student loan services include the following:

Laurel Road – MOHELA Loan Servicing; Alaska Commission (ACPE); American Education Services; Aspire Servicing Center; Bank of North Dakota; College Ave Student Loans; College Foundation Inc.; CommonBond; CornerStone U.S Department of Education; CornerStone Education Loan Services; Discover Student Loans; Earnest Operations LLC; EdFinancial Services U.S Department of Education; EdFinancial Services; FedLoan Servicing Department of Education; First Mark Services; Great Lakes U.S Department of Education; Granite State Management & Resources; Granite State Management & Resources – U.S Department of Education; Heartland – ECSI; Kentucky Higher Education Student Loan Corporation; Launch Servicing; Lendkey Technologies Loan; MOHELA-SoFi; MOHELA-U.S Department of Education; MOHELA Education Loan Servicing; National Student Lona Services; Navient Commercial Loans; Navient – U.S. Department of Education Loan Servicing; Navient Private Loans; NaviReFi; North Carolina State Education Assistance Authority; Nelnet ” J ”; Nelnet ” D ”; Nelnet E Department of Education; NJHESAA or NJ Class; North Texas HEA; Oklahoma Student Loan; Oklahoma Student Loan U.S Department of Education; PenFed Credit Union; ReliaMax Ln. Services LLC; Rhode Island Student Loan Authority; RSLFC Payment Center; Sallie Mae; SEAA Repayment Services; Tuition Options; UAS; UHEAA; VSAC Payments; Wells Fargo Education Loan.

0% Intro APR for the first 12 months on balance transfers when you transfer your balance within the first 60 days of account opening. After that, the variable APR on balance transfers will be 16.99% - 25.99% (variable) based on creditworthiness. This APR will vary with the market based on the Prime Rate. Balance transfer fee is either $10.00 or 3% of the amount of each transaction, whichever is greater.

Do you pay your balance in full each month?
If you always pay your balance in full each month, you do not pay interest on your purchases. This is called a grace period. You will lose this grace period if you transfer a balance and do not pay off your entire balance by the payment due date. Even if you pay off all of your purchases in full each month, you will begin to pay interest on those purchases. To avoid interest on purchases, you must pay the entire balance (including the balance transfer amount) each month by the payment due date. Here’s an example: Let’s say you complete a balance transfer or write a $1,000 convenience check. No matter how else you use your card, that part of the balance has the disclosed Introductory APR for the disclosed amount of billing cycles from account opening. Then you make a $500 purchase with your card. Purchases are charged the disclosed purchase APR from the transaction date once you lose your grace period. If you do not pay the entire $1,500 by the payment due date you will have lost your grace period and therefore you will pay the disclosed purchase interest APR on the $500 in card purchases from the transaction date.

The creditor and issuer of this credit card is KeyBank N.A., pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circle design is a trademark of Mastercard International Incorporated.

³Introductory offer: For a limited time earn a cash back bonus offer after spending $3,000 within 90 days of account opening. Account must be opened before 11:59pm ET on 1/3/2022. The bonus cashback amount will be $300 if redeemed towards student loans with an eligible servicer. The bonus cashback amount will be $250 if redeemed for statement credit. Cashback is awarded based on eligible credit card purchases excluding transactions such as cash advances of any type, balance transfers, convenience check transactions, overdraft protection transfers and quasi-cash transactions.

See Terms and Conditions for more information.

Google Pay is a trademark of Google LLC. 

Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd.

Apple Pay® is a trademark of Apple, Inc.

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. 855 Main St., 8th Floor, Bridgeport, CT 06604, USA.

Michael Graw
Written by
Michael Graw
Michael Graw is a Bellingham, Washington-based writer focusing on finance, tech, and science. His work has been featured in print magazines and high-impact websites. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
Top 5 Credit Cards
Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card
Read Review|Visit Site
Read all reviews
Must Reads
Read all articles
Trustpilot reviews
See what some costumers are saying about Laurel Road Student Loan Cashback® Card
Laurel Road Student Loan Cashback® Card
Great
Reviews 423
on
Excellent
77%
Great
8%
Average
2%
Poor
1%
Bad
12%
e
elliott
a month ago
They have an awesome team and a…
They have an awesome team and a dedicated staff.
consumer-image
kalyan e
a day ago
This bank is a joke
This bank is a joke. I don't recommend this bank if you want access to your own funds. I opened a Laurel Road Loyalty Checking account and funded the account with my own money from another bank. They locked the Account for no reason and restricted my access. I called the customer service and jokers told me to wait 10 days. I waited 18 days and called them again. Now they want another 10 days and will receive the decision in mail. You are better off doing business with local credit union than shady banks like Laurel Road.
E
elizabeth
12 days ago
I opened an account and I was not able…
I opened an account and I was not able to access my account online. It went through the login process but it won't show my account and kept saying: Opps something went wrong. Called their customer service and she said give her a couple of days and she'll call me back. It's been over a week and I haven't heard back; and I still can't access my account. There's no automated phone number to call to find out what is my balance, etc. This bank is bad!
K
katwan pink
20 days ago
Go with a traditional bank because…
Go with a traditional bank because Laurel road will lock your account with no warning. I had money deposit into my account and now it lock. It was no problem using my accounts until today when my money hit. This bank is the worst and I will stick with my credit union because their customer service will answer. Laurel hours and customer service is horrible the worst.
T
theresa
24 days ago
Cannot recommend
Cannot recommend. I was approved for a Royalty Checking Account after an arduous approval process, and set up a direct ACH deposit, and as part of that, a test ACH deposit of a cent was sent to my new account. Then, Laurel Road closed my account without warning, saying there was fraudulent activity and I confirmed it (I did not receive any notice of fraud to confirm or deny) and apparently reported me to the Early Warning Services. I have no idea why, and now I have to dispute the issue with Early Warning Services.
K
karisa
a month ago
I refinanced a student loan through…
I refinanced a student loan through laurel road, and it went very smoothly. Easy to work with and I got the best rate around!
M
melanie ybarra
a month ago
App very user friendly
App very user friendly. Very timely on the notices.
B
briley bowen
a month ago
Very easy to deal with and majority of…
Very easy to deal with and majority of it is all online so it makes things very simple.
D
darryl whitney
a month ago
Laurel road is great, but
Laurel road is great. Love the checking and savings accounts. App easy to use. Refinanced student loans with incredible rate. My one issue is that I can’t use it with 3rd party apps like YNAB and EveryDollar. I did finally get YNAB to work recently but it’s inconsistent and involves a difficult login procedure each time you want to get transactions. EveryDollar won’t connect at all and they say it is Laurel Roads issue. I really want to switch to EveryDollar this year since it’s cheaper.
M
mehrdad b.
2 months ago
Avoid this company.
Avoid this company. They have no clue what they are doing. I applied for a physicians loan and everything was fine until 4 days to the closing. They charged me for the appraisal of their choosing and ended up not offering the loan. I got the loan through another institute.
A
ahmed mohammed
2 months ago
Personal medical residency loans
I have been denied a personal medical residency loan twice despite meeting the requirements listed on the web application eligibility page. The second application even did a hard pull which crushed my credit score. The denial letter they send is always vague and when i call to get more information, i find out the explanation for the denial is always something new which was never clearly stated or written in the eligibility page and the FAQs page of the web application. The ordeal has left me feeling frustrated and even angry for the covert and dubious games.
consumer-image
hilary
a month ago
Worst Banking Experience of My Life
What a nightmare! With no warning either by phone, text or email, my online access to my checking account was completely shut down! When I called, I was told I wouldn't have access for at least 10 business days because my account was under review for suspicious activity! Two and a half weeks before Christmas, and I am shut off from my funds!! I immediately stopped any more deposits from going into this account, and as soon as I gain access to my funds, I will shut down this account and never have anything to do with this horrible bank again. This is the worst banking experience of my entire life, and at 61, that is saying a lot. UPDATE: 12/15/2022 Here it is one week since this awful situation began, and you would hope Laurel Bank would have as much interest in rectifying the situation as they have in trying to disqualify my review, but alas hope springs eternal. So I spoke to a representative of Key Bank who was very polite and professional, but still had zero power to explain why this had happened to me...other than to convey Laurel Bank thought my direct deposits looked suspicious...every deposit was from the same source...my employment...and the funds were drawn from the Bank of America. Real sketchy, right? So obviously they had questions about my income but instead of asking me they shut down my account, gave me no explanation and have treated me like a money launderer or common criminal!!! This is so beyond beyond ridiculous. I implored the rep to help get my account closed and my money back to me. She was sympathetic, but I'm less interested in hand holding and totally focused on getting results. She said it might be up to 15 days to get a cashier's check, as my account was "still under review." You just can't make this stuff up. Again, the message is do not bank with Laurel Bank unless you enjoy the excitement of having your hard earned money taken hostage by a group of know nothing/do nothing unprofessional pencil pushers. 12/17/2022 SECOND UPDATE Could it get any worse? Laurel Bank is clearly up to the challenge of making an awful situation even worse, Just received a form letter in the mail from them saying that there is a hold on my account "that is typically resolved in ten business days" because I confirmed fraudulent or suspicious activity on my account. THE ONLY FRAUDULENT AND SUSPICIOUS ACTIVITY ON MY ACCOUNT IS BEING PERPETRATED BY THIS GODAWFUL BANK!!! ALL I WANT FOR CHRISTMAS IS MY MONEY BACK AND TO FORGET THIS JOKE OF A FINANCIAL INSTITUTION EVER EXISTED. THIRD UPDATE: 12/23/2022 Day 16 of this Debacle (turns out they officially put the hold on my account December 7th.) Here it is 2 days before Christmas, and still getting the middle finger from this bank, although they are getting two back from me. I spoke to a male there who "was going to check on the details" for me...as usual, nothing new. They saw my multiple deposits going in, and my oh my, a few transfers going out...and that was "suspicious". Instead of talking to me about the situation, they are "researching" it...it is taking 16 days...obviously it will take more...to figure out I am getting deposits and I am making transfers. The same source for all deposits, and the same source for all transfers...another one of my bank accounts. This is their big criminal dragnet...me and my few legally earned hundreds of dollars...that they continue to hold hostage. And the guy I spoke to let me know there was "no way" they would release my funds to me until "the research" had concluded. At this point, besides getting my money back, I hope I prevent as many people as possible from doing business with this absolutely ridiculous bank.
N
nicole guzman
3 months ago
🗣Trash & Super Inconvenient🗑
🗣Trash & Super Inconvenient🗑 Takes DAYS of putting in "requests" to get anything resolved. It takes longer than usual for things to post on your account, dates are never right on transactions, and omg, God forbid you try to use zelle..I'm still waiting on my $1 zelle "test" transaction to clear..it's been 3 ¹/² days and still no $1..sad..I can see why they're offering people money to join. It's so not worth it. SoFi is 100x better if you're looking for a decent digital bank. I wanted 2 banks, one with a physical bank & 1 solely online bank with a nice APY %, So I tried Laurel Road..I should've known it was a no go🙅🏾‍♀️, just by downloading their mobile app. It's so bad😒🚫🚩 But kudos to the ones who benefitted from them. It was...is...a horrible experience for me currently. My Conclusion: ..RUN..
D
david cordaro
3 months ago
Excellent cust. service & generous
Excellent customer service all of the time, whenever I needed it, and very generous with continuing to hold my locked in rate while agreeing to match the federal loan pause by extending the finalization date
B
ben massey
4 months ago
Avoid This Company and Key Bank at All Costs
Do not waste your time with this company or the parent company, Key Bank! It is not worth the 0.25% rate discount on your mortgage! I have wasted countless hours of my time either using their woefully poor and awkward online portal or on the phone trying to reach my loan officer or talking to multiple mortgage customer service reps who do not return phone calls when they say they will. It was very difficult to get in contact with the loan officer during underwriting and he would request documents which were already uploaded to the online portal. Even then, it would take multiple attempts to upload the documents because the portal would glitch and lock up and it would not confirm whether the upload was completed. It was very cumbersome. The lack of communication from the loan officer during underwriting was so bad, I had to talk with another rep to make sure all the requested documents were received and were with the underwriters. He even didn't respond to my real estate agent who tried contacting him multiple times. I did not not know if the loan was approved until just days before the closing and we thought it would have to be pushed out. Key Bank which owns Laurel Road and services the mortgage is just as bad if not worse. The customer service reps do not return calls when they say they will and my calls have been disconnected more than once when either transferred or placed on hold. I am NOT happy they are my mortgage holder and wish they weren't receiving my money for this loan. I'll switch to another lender as soon as I can!
B
brandon tirre
4 months ago
Terrible experience
Terrible experience. The account got locked within 24 hours of opening, apparently sending a Zelle payment is against the rules. The number they ask you to call is dead, none of the customer service support members knew anything about unlocking my account. My account was locked on the 29th, I need to pay rent on the 30th, and they told me it takes about 5 days for the engineering team to respond. So for the next 5 days, I get to sit here and wait for them to unlock my account. I can't believe I am saying this, but I should have stayed with my other bank.
S
sureillreview
4 months ago
I had a great experience with them
I had a great experience with them. I used a physician loan and they had a significantly better rate than I could get elsewhere. Their portal is straight forward to upload documents and my agent was always available to help and explain things. The only sticky thing was setting up auto-pay as it was a bit confusing between them and Key bank, which they fall under. A quick call to customer service cleared that up though.
J
john j
5 months ago
security issues
Having to put your full ss number out there first and I can't even get to the 'secure' website makes me question their professionalism
V
veronica bense
5 months ago
Only issue was setting up the auto…
Only issue was setting up the auto payment but other than that super easy site to use.
M
melb
5 months ago
Easy!
The process for student loan refi was so easy and straightforward. From getting a quote to funding the loan was less than a week and completed from the online application. Easy!
M
mora mocanu
6 months ago
We used Laurel Road to purchase our…
We used Laurel Road to purchase our home using a physician loan. Overall the process was ok but I think unnecessarily stressful towards the end. We didn’t get the Clear to Close until 2 days before closing. It seems like a lot of the things holding up the process could have been anticipated. On the bright side they were responsive and I got a good internet rate.
B
bianca gaja
7 months ago
Laurel Road Review
Everyone I contacted at Laurel Road was very helpful and made the process of refinancing my loans smooth and easy! Highly recommend!
J
julie plowman
7 months ago
Great experience?
I had a very good experience with the Application process through Laurel Road. The online application process was very easy....document requirements for upload were also minimal and simple to accomplish. The rates were the best that I had been quoted after researching at least 4 other companies for refinance of Parent Plus student loan debt. Even a discount in the interest rate if you set up auto pay. Overall - very happy I chose Laurel Road
N
nkd
7 months ago
Great on-boarding process and customer…
Great on-boarding process and customer service. I would suggest that customers at least have 1 phone call or meeting with an underwriter to ask any questions they may have.
M
michael finocchiaro
7 months ago
Incompetent and Unprofessional
Laurel Road mailed me an advertisement offering a lower interest rate on a refinanced student loan. I immediately uploaded all requested documentation. The website kept asking for a second earner's documentation. I wrote back and forth with their reps explaining I did not have one. It was not until after I consented to the hard credit pull where I was informed I would not be offered the chance to refinance. I called within 5 minutes and they said they would not block the credit pull. I found them to be incompetent and unprofessional.
A
anonymous
8 months ago
Doctor’s Loan - Mortgage (waste of time)
Got my mortgage doctor loan with this company, as well as a high-yield savings account, and it has been a complete nightmare. They pride themselves on providing a premium experience, but it continues to show problem after problem. Cannot make automatic payments, cannot add spouse to the account. There’s always a technical issue. Representatives can never help or resolve anything. Always need to involve management to get problems fixed. Have wasted hours on the phone and e-mail since my experience started with Laurel Road. A shame that it’s recommended by the ADA.
D
drew c
9 months ago
Amazing customer service and rates
Amazing customer service and rates. I couldn't have asked for a better person to refinance my student loans through. I have a savings account with them and really enjoy the simplicity of their website.
B
benjamin klepek
9 months ago
Laure Road Bank Mass Confusion
LaureL Road Bank Mass Confusion......Laurel Road Checking account account and Laurel Road router number process has not received Benjamin Klepek's Columbus City Schools Checks which were never deposited and this started over 10 weeks ago.... Columbus City School check sent for deposit again, Friday, May 13th 2022 never deposited. Please contact Columbus City Schools, Columbus Ohio and communicate why Laurel Road Bank has not deposited Benjamin Klepek's Columbus City Schools checks. I have sent this Laurel Road Bank feedback before and NO ACTION TAKEN. KeyBank is the account and router number provided and Laurel Road Bank what is your response to your customer, Benjamin Klepek ?
d
ditmari rolon
9 months ago
Excellent I need information in my…
Excellent I need information in my email ty
D
disappointed doctor
9 months ago
Doctor loan beware
AMA advertised Laurel Road resident physician loan with low monthly payment while in residency training to assist with cost of residency etc... unfortunately due to extenuating circumstances I went on authorized leave in good standing with my training program to care for my mother with terminal cancer. My training has been extended and I reached out Laurel Road/Key bank for extension of low payment while on training but Laurel Road and Key bank did not have an idea what the doctor/physician loan was ( in their end it was just personal loan) and did not know what to do. I was bounced back and forth ( with at least 1-2 hour hold) from Laurel Road and Key Bank (customer service to manager ) , told me they will look into it before the low monthly payment will end. I have missed months payment while waiting for their response and it became delinquent. Then I finally got contract to be attending to refinance loan , it was declined bec now I have delinquent payment from them of what used to be low payment of $25/monthly to $1,300/monthly, Then they offered only 4 months forbearance after 4 months which was useless.
H
hillary l.
9 months ago
Great Company to Work With
I’ve refinanced with LR twice and each time it has been a breeze. Dealing with customer service has never been an issue, I always get my questions answered without any problems. I could not be happier with my choice to use them.
E
e “ej”
10 months ago
Easy, quick, great rates
Easy to submit paperwork, fast communication, and excellent rates. Very happy to use them as a parent, so much so my daughter used them too!
J
jennifer
10 months ago
It was super easy to apply to refinance
It was super easy to apply to refinance loans. Had no issues throughout the process. The underwriting process was a breeze. They needed one extra thing for my application and it didn’t seem to delay anything. I am very happy I refinanced with Laurel Road.
J
james johnston
10 months ago
The rate was great
The rate was great, the process was simple, and the customer service was outstanding!
consumer-image
mike tonsor
10 months ago
Untrustworthy
Untrustworthy. You can't trust their customer service agents. They are incompetent and untrained and will spew out inaccurate details on your account. The same bank account I have been doing autopay with for 13 months now mysteriously has an error on the account and/or routing number and my payment is delinquent. I got a letter that they reported me to the Credit reporting Agency. Also, they took away the interest discount and they're currently collecting more interest on my loan while they "investigate" and will "back pay" the money they're taking if the investigation shows an error on their part! They're horrible.
H
harsh patel
a year ago
Worst company for the mortgage
They work like working in 19th century. I started working for mortgage application since I had a nice experience about student loan refinance with it. When my offer got accepted, I started processing with them from Day 1. They took almost 4 weeks to get appraisal value done. Finally, I got appraisal with huge difference in value (More than 50K). Then say, we can't adjust anything about appraisal even appraisal revision with other appraisal agent. Not good online system to track the steps. It was headache to process everything and ultimate zero outcome. In last, I have to go to different lender who helped me in processing everything in 10 days to closing and it was completely smooth transition. Please don't go with zero down payment or zero PMI for doctors. There are many lenders in market who offers good rate and benefits to doctors. You will end up with loosing your dream house with their slow system and being helpless in end.
V
virginia mike
a year ago
Run far away from this company!
2 months ago I closed on a mortgage. According to the site I should have gotten a letter explaining how to make online payments with a payment coupon. never came. On the site it also says they will respond in 24 hours. I have well over a dozen attempts at contacting them with no responses back. Over the phone twice I was told a manager would contact me. Nobody contacts me. The chat on the webpage doesn't work. When i call I get sent to nobody that can help and they say they will have someone call me. Not a single time has anyone called back to answer my question. RUN AWAY!
J
john b
a year ago
easy to apply great rates
easy to apply great rates, and fast closing
V
virginia mike
a year ago
Not as advertised
Laurel Road was in charge of doing the appraisal on my house. They chose someone who came to my house, did the appraisal, and never submitted the appraisal. No one could get in touch with him and weeks were wasted before they did anything at my request. I had to constantly remind my mortgage advisor to apply promised discounts.On top of that after finally closing, I was told within 45 day of my mortgage, as advertised by you, that I would receive a letter on how to set up payments and have a coupon for my first payment. This never occurred and despite multiple attempts at contacting you, via email and phone, this still has not occurred. In addition you say that you will get back to me within 24 hours, it has been several weeks. I was also told that you have lost my multiple messages trying to contact them regarding my questions. You said someone reached out to me and my concerns were taken care of and that is NOT true at all! What a joke. Don’t lie in your response, it’s not a good look. I don’t even think it’s legal. Do something or don’t bother responding at all.
R
ryan
a year ago
Easy and quick process
Easy and quick process! Also wonderful customer service when I did call with a few questions! Great overall experience!!
K
kevin shin
a year ago
Great
Great! Very fast and helpful.
a
anonymous
a year ago
I have had a very poor client…
I have had a very poor client experience with Laurel Road. I refinanced my loan with them and it was not a seamless process and when a mistake/misunderstanding was made it was not corrected and I was told "I'm sorry there is just nothing we can do" in a very rude way and I had to pay the difference. I would not recommend this company to a new graduate. There are likely better companies out there with better customer service. As a student with a large amount of debt the last thing you need a private loan company robbing you of more money.
N
nicolette baker
a year ago
Student Loan Refinance
I've been trying to refinance my student loans for a very long time. Laurel Road was the first company that offered me a reasonable rate. I was able to apply 100% online and completed the entire process from beginning to end in less than a month. I had a few issues with submitting documents because I recently had my name change. I called customer services and they were able to assist me and resolve the issue within a few days. The process was amazing. Way better experience than with my previous lender.
D
daniel pace
a year ago
Helpful, Efficient, Friendly
My issue was quickly resolved with step-by-step instructions! I will highly recommend Laurel Road to others!
C
chase derrick
a year ago
I recently refinanced my student loans
I recently refinanced my student loans. I did an extensive search with multiple lenders and they consistently had the lowest rates. Their customer service which I used many times through the process is very responsive and helpful. I have already recommended them to multiple colleagues and friends.
M
morgan
a year ago
Laurel Road has made refinancing my…
Laurel Road has made refinancing my dental school loans easy and has eased the anxiety these loans give me. Their website is easy to use and if I need to speak with someone, I never have to listen to automated messages on the phone. I tell all my friends with large student loan debt to look into Laurel Road because they will change your life and your perspective about your loan debt. Thank you Laurel Road!
C
christine thomas
a year ago
Very good loan process
Very easy to apply for a loan. Clear communications from Laurel Road. Very good website. Easy to use. Highly recommended.
A
abdulquadri olawin
a year ago
I really love you guys and your…
I really love you guys and your customer service. I've referred a number of my friend to your loan service. Thanks so much for the excellent refinance rate, lowest I've ever seen.
L
latisha qian
a year ago
Easy process and great rates
Easy process and great rates
L
leroy turner
a year ago
Refinancing with Laurel Road was one of…Best experience ever
Refinancing with Laurel Road was one of the best experience’s I’ve had since I began several years ago. The time it took from start to finish was exceptionally fast. The rate was the best in the industry. I would recommend Laurel Road student loan refinancing in a heartbeat!!!
c
customer
a year ago
Laurel Road was very helpful...
Laurel Road was very helpful in giving me a loan rate and schedule. Responses were quick and easy to understand. They also offer lower rates than a lot of other companies out there. Their website is very easy to maneuver, and making payments is convenient and quick. I would highly recommend Laurel Road.
C
cameron kornegay
a year ago
Thumbs Up!
I thought the whole process was really easy and I was very impressed how quickly it all happened!
R
rachael davalos
a year ago
I had an excellent experience
I had an excellent experience
S
sara tipton
a year ago
I lost my Public Service Student Loan…
I lost my Public Service Student Loan Forgiveness eligibility by switching from a federal loan. They do not match the federal loan forgiveness or forebearance. I work in healthcare and have been devastated financially by the pandemic. They are not willing to work with me to lower my payment. DO NOT APPLY.
s
sara z
a year ago
don’t even bother refinancing with this company.
If you are considering to refinance your loans using this company, DO NOT DO IT. I had a perfect credit score and they MESSED IT UP BY CHECKING MY CREDIT SCORE AND THEN DECLINING MY APPLICATION!! My 795 credit score went to CRAP because of this company. All the representatives that were on the phone with me were telling me how my application looks great and that there was nothing wrong with it. Why say that and then tell me to “go ahead and submit a credit score checkup” just for me to get denied. I was very hopeful and this is just messed up. I would understand if it’s due to a low credit score but 795!?!? The whole process of submitting document after document was very annoying and tedious and yet I still considered them because of the low interest rate they offered. But that’s all BS. I won’t be saying good things of this company TO ANYONE EVER because of what they put me through. Every document I submitted was still not ever enough. Horrible and WORST COMPANY EVER TO DO BUSINESS WITH.
L
lindsay vee
a year ago
Laurel Road CC is ok, but the Service Rep was GREAT!
Even though I wasn't able to complete all the balance transfers to my Laurel Road credit card, Lemarcus helped me with 1 transfer and has been a great help. He is very knowledgeable and informative, polite and kind, listened to what I needed, and was sympathetic with the hurdles I've had with the new credit card. I appreciate his help.
J
james pager
a year ago
I recently refinanced some private…
I recently refinanced some private student loans and was happy with the experience. They were responsive to my calls and made the process go quickly and smoothly. Plus I got a much lower interest rate than I would've imagined. Also after funding they were quick to set up autopay and good customer service remained.
M
mckenna smith
a year ago
Don't trust these slime balls with your money
I would give zero stars if I could. Absolute nightmare to work with. I refinanced a significant amount of student loans from undergrad right after graduating, with the understanding I could later defer payments when I went to medical school. Fast forward a year, I call to say I' starting med school and need to defer, and they tell me they only defer payments for residents, which makes NO sense. You have some income as a resident, but no income as a med student. How do they expect me to pay $1,000 a month as a full time medical student? I tried to refinance with every other company under the sun but no one would because technically I'm unemployed now. I had to take out the maximum amount of federal loans and pay Laurel Road with that money each month. Paying loans with loans! Ridiculous. They won't even allow me to slightly lower my monthly payment. When I asked they said try refinancing with us again. So I did, and the process was a nightmare. Got booted off the website multiple times and lost documents. Super unclear which application is which. I think I ended up with three separate applications (all denied) at the end because every time it kicked me off and I had to log back in it started a new one or something. Absolutely terrible. I'm stuck with this company, but if you can avoid them you should. For so much advertisement about working with doctors, they sure don't seem to care about helping out med students.
J
john t
a year ago
LOOK ESLEWHERE
I needed to cosign for my son to refinance his student loans. I gave them everything they asked for x2. Three weeks of items they ask getting rejected ten phone calls they deny the loan. I make more then enough money, have a good credit score and get denied because the underwriters have no clue what they are doing. I just bought a house not a year ago and getting a mortgage was easier then cosigning for my son. Everyone I spoke to gave me different answers to the same questions I had,
S
saeed arjomand bigdeli
a year ago
The processing time is very long and it…
The processing time is very long and it is so hard to get in touch to the customer service, also their rate is not as competitive as other companies, so check out other companies.
M
michele m
a year ago
Slow, Misleading, Poor Website Interface
Like many others leaving reviews, the turn around time has been slow. I refinanced with Laurel Road in 2020 and had a fine experience with them at that time. Now in 2021, interest rates to refinance my student loans are even lower, and they allure you with an added discounted interest rate if you open up a linked savings account with them. With the money in my emergency fund, I could get another 0.55% off my interest rate, bringing it close to 2%! HOWEVER nearly a month after refinancing, numerous messages, chats, emails, calls with "customer service" I still have no way to access and put money into this linked savings account and get the interest rate that was quoted. Their online interface is cumbersome and not user friendly or intuitive at all. The reps I've been dealing with have been helpful and pleasant enough, but nothing ever seems to come from my interactions with them. VERY disappointed in the process and service this time through. I would not refinance with them again, and if I don't get the interest rate that was advertised when I closed on my loan, I will search to refinance with another company.
J
john t
a year ago
This company is a joke
This company is a joke. Tried to co-sign for my son to refinance his student loans. Month long process. Sent everything they asked for and extra. They kept rejecting documents, Why I do not know. I called several times to straighten things out but to no avail. They were asking me to send things in I didnt even have. A profit loss report for a business I DO NOT HAVE. Really. I make more then enough money with a good credit score to cosign and after I called this morning asking for help, I hang up and get a rejection letter within 35 seconds. So to bother you and some one might have to do their jobs and look at the documents sent. Do not waste your time like they wasted a month of mine. Go elsewhere
F
francist
a year ago
Good communication with the…
Good communication with the representative.
i
itsmo
a year ago
Great experience
Great experience! I made the switch from another lender (rhymes with Lofi). The customer service experience was amazing and the website was also so user friendly. They sent a cute onboarding package welcoming me to LaurelRoad. Would definitely recommend to my doctor colleagues/peers!
L
leo decandia
2 years ago
The application process was easy to…
The application process was easy to follow and I never felt lost!
C
chaim bernstein
2 years ago
Good rates, but a little misleading.
Between the initial quote from a rep and signing, the actual rate increased. This takes into account all discounts for paperless and opening other accounts.
consumer-image
mary lita
2 years ago
Excellent 🌝🌝🌝🌝
Excellent 🌝🌝🌝🌝
M
megan andrews
2 years ago
I'm upset that I waited this long to…
I'm upset that I waited this long to refinance my private loan through Laurel Road. The process of transferring my loan to Laurel Road was quick and easy. I'm saving hundreds of dollars per month with the added benefit of a fixed interest rate almost 7% less than what I was paying. I would recommend Laurel Road to any resident or attending physician working to pay off a private loan.
V
varun
2 years ago
Have refinanced my student loans twice…
Have refinanced my student loans twice now with Laurel Road and have had a great experience both times. They were accommodating, easy to communicate with, and genuinely helpful. Thank you all for everything you've done for me these past few years!
M
mo
2 years ago
Competitive, Communication Could be Better
Wanted to leave an honest and thorough review because home buying is stressful enough and it's hard to know who you can trust. My experience reflects the promotions that laurel road offers to physicians for mortgages. I can not speak to the value of their offers for non-physicians or their other lending programs (personal loans, student loans, etc). This review is based solely on the home buying process with Laurel Road, as we have yet to experience working with them much beyond that point. tldr; Pros: VERY competitive interest rate NO PMI with 95% financing Initial communication about terms and options was great (at least in my experience) No surprise fees at closing Will not sell your loan to some unknown servicer Cons: Communication after under contract is very SLOW and stressful (worse if you are not on the east coast with time differences) Some home sellers exclusively work with local lenders Your realtor may pressure you to use someone they have worked with before Our realtor strongly encouraged us to use a local lender (not Laurel Road) for our mortgage, but the local lender had much worse terms. We would have had an interest rate 1.75% higher than what Laurel Road offered, the closing costs were DOUBLE, AND there would have been a 300/mo PMI with the local lender. It clearly did not seem worth it to alay the concerns of working with a lender the realtor was less familiar with, but BOTH the local lender and the realtor raised concerns that the deal with Laurel Road might have seemed better, but that ultimately it probably would not close and that there would be surprise fees. So that obviously freaked me out, but we took a chance with Laurel Road and we ultimately closed and everything is fine. The realtor and local lender were probably advising from their experience with online lenders, but honestly seeing how everything worked out MUCH better for us with Laurel Road looking back their advice seems predatory. We have ALREADY saved thousands up front and will CONTINUE to save thousands moving forward because we went with Laurel Road. We are SO glad we chose Laurel Road for this reason. But there were some bumps along the road. Communication with Laurel Road was a struggle after we were in contract. Before we were under contract it was really easy to get a hold of my loan officer, and he spent a lot of time with me discussing the best options for our situation. But after we were under contract it was hard to get him on the phone or to respond timely to emails. Both myself and my realtor had to call/email multiple times to get information and press things along to avoid any delays, which certainly stoked the fears that my realtor and the local lender were right about Laurel Road not closing the deal. But they were wrong! Ultimately there was no delay as a result of this poor communication, but it certainly added to the home buying anxiety so thats why they get only 4 stars. The only delays with closing we experienced were exclusively due to delays with the appraisal management company, which is completely out of control of any lender, local or otherwise. Looking at other reviews here and other places it seems like the poor communication sometimes does lead to delays/issues, but that was not my experience. Whether this was due to my availability to hound my loan officer almost every other day to keep things moving along, I'm not sure. If the uncertainty, stress, and time that may come with poor communication is not worth the thousands of dollars you would save (depending on what other lenders are offering you), then maybe go with others. But it was a pretty easy decision for me because of just how much better their offer was. Certainly don't let your realtor or other lenders use scare tactics to push you away from Laurel Road though. They closed for me. Your realtor will not have to deal with the consequences of terrible mortgage terms for the length of your loan. I'm glad I went against their advice, and went with what made sense for my situation.
R
robert j. warren
2 years ago
RUN AWAY NOW!
1. Run Away FAST! 2. We had a 715 Credit Score, We had 95K+ income, No blemishes on Credit Report. We requested 40K to Pay off Cars, Student Loans, Credit Cards. If approved would save us $400.00 a month. They asked for more documents than a Mortage Company asks for. You send it/upload it then they lose it ask for it numerous times and then don't include it in figuring total income. You can not talk to a Manager they will not call you back. This took 3.5 weeks for a no answer. An absolute waste of my time.
consumer-image
jacqueline gimby argys parker
2 years ago
Poor online interface and IT support
It's been weeks and I still can't access my initial quote bc of faulty program - IT unresponsive - and even though a human initially answers the call, the entire process is handled online - don't be fooled. The phone numbers link you to people able to only answer simple questions about the online process. If there's a glitch on their end, they don't care enough to fix it - have wasted hours to no avail.
R
rillia l s
2 years ago
Quick and impressive
I love that I could could just call and speak to a representative without having any issue
N
nickey cox
2 years ago
Very quick and easy process
Very quick and easy process! Their communication was open and closed ended which helps tremendously! I love that I could could just call and speak to a representative immediately without having to speak to a recording or having to leave a message! Thank you all for making the process easy!
A
ajb
2 years ago
Great company
Great company to refinance with. Quick and easy process. Low rates. I would highly recommend
A
anthony b
2 years ago
Do not go to Laurel Road for a personal…
Do not go to Laurel Road for a personal loan, trust me. Most horrible experience. They pre approved me for a loan of $ 7,500 I provided all the documentation they asked for. The next day I was declined. They sent me the standard adverse action notice which tells you nothing. I went to another lender and was approved for 48,000.00 yes not a typo. So I thought about the decline and decided to email Laurel Road for more information. The reason for the decline was because I didn’t ask for a large enough amount to cover my debt. How much sense does that make. I asked if that information was posted on their website. They said no. I asked them to remove the hard inquiry on my credit report because I feel like I was mislead. They refused. Long story short save your time and go elsewhere this company sucks.
M
michelle b ramirez
2 years ago
Great company to refinance student loans!
Great company to refinance student loans with! They gave me a lower interest rate & monthly payment than CitizensBank or Sofi quoted me for and they did not raise the interest rate even after a hard credit check, which I liked. The website is a bit clunky so that can use some improvement but overall great in letting me know they needed some documents (paystubs, degree, loan payoff amounts) uploaded. effective in communication and great customer service.
consumer-image
luis fernando
2 years ago
chevere me encanto
chevere me encanto
J
js
2 years ago
Lowest Rate
Laurel Road provided me with a rate that was tremendously lower than the other loan refinance companies. Very happy with the refinancing process!
C
candace mchugh
2 years ago
I’d leave 0 stars if I could
I’d leave 0 stars if I could. By far the most stressful and biggest nightmare of my life. Severe lack of communication and planning on their part. My fiancé who is a doctor lost thousands and thousands of dollars for taking time off in advance for promised close dates that they could never meet the deadline on. I’m now left having to move everything on my own because he’ll be out of town working. For a company that says it supports doctors and dentists, that’s ridiculous! We also will most likely have to get temporary housing because we’ll be homeless while they take their sweet time finishing our closing paperwork. We’re on day 99 by the way since we we’re pre-approved. Totally unacceptable. Do yourself a huge favor and go with another lender! They’ve turned what should be one of the most exciting days of your life into the worst experience of my life. Each day I wait anxiously to hear when I’ll have a home.
B
brandon
2 years ago
Easy Experience
Simple, straight forward, easier than most. This is much more like what you want, when you refinance student loans, compared to what other sites offer.
S
stacy preville
2 years ago
Easy transaction
Easy transaction . Always a smooth transition from one loan to another.
P
paul
2 years ago
Quick and easy experience
Quick and easy experience. Best rates around. Have refinanced with Laurel Road Three times now.
J
j hurst
2 years ago
Disappointing.
Disappointing.
J
john
2 years ago
Very easy...recommend to anyone!
Very easy, attached a couple of documents, and the rest was history! So thankful how easy it was!
A
autumn dye
2 years ago
very straightforward and easy to get…
very straightforward and easy to get the best interest rate!
N
norm martel
2 years ago
This process was quick and efficient
This process was quick and efficient. I was happy with the product offerings, service, and time to close. The one item I would improve is the ability to communicate effectively via the web portal -- I found the existing mechanism obscure and clunky. On the opposite end of that, it was extremely easy to upload and tag the requested documentation.
Y
yohannes gebrekidan
2 years ago
Application process was fast and…
Application process was fast and easy-to-use. Customer service accessible and answered my questions.
P
preston devens
2 years ago
Highly recommended
The process is thorough but they make it efficient. They respond quickly via email and are helpful on the phone and with email.
A
annette johnson
2 years ago
Much better rate, payment I could afford
I felt like there was good communication all the way through. I have a good rate, and a payment I can afford. They took care of many things that I felt would be a hassle in changing loans. I would definately do it again.
K
kimbley
2 years ago
Highly Recommend!
I was referred to Laurel Road by NSO, I read some reviews and decided to apply to refinance my loans. Process was very easy, they emailed me about everything. Very easy to upload documents and they are very clear on what they want. They paid off my other loans and set me up for my account. I highly recommend refinancing with Laurel Road.
R
russell
2 years ago
Effective
Effective, efficient on time,good communication and nice organization
A
aubrie
2 years ago
Very helpful
Very helpful, awesome customer service!
B
burton shen
2 years ago
Really great rates and super simple…
Really great rates and super simple process to get approval and financed.
B
brandon wright
2 years ago
Smooth Process
Smooth and easy process with great rates available.
D
david warren
2 years ago
It was smooth process.
It was smooth process.
D
dorgam badran
2 years ago
Great experience!
Great experience!
consumer-image
bhãñù yãdãv
2 years ago
excellent work and fast loan and low…
excellent work and fast loan and low interest
B
brittany
2 years ago
The process was quick and easy
The process was quick and easy. I got a better rate than I previously had and was approved within a week.
A
amber shell
2 years ago
Very quick and easy transition for…
Very quick and easy transition for refinancing my loans. Would recommend.