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BestMoney.com
Laurel Road Review
Reviews 430
Laurel Road
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Laurel Road
Laurel Road
Great
Reviews 430
Bestmoney Staff
Nov. 24, 2022
4 min read
BestMoney Staff
Laurel Road summary
Laurel Road is committed to offering low rates and flexible repayment terms that can fit a variety of circumstances and requirements. By providing incentives such as discounts and referral bonuses, it allows customers to save and make money even as they gradually pay off their refinanced student loan.
Pros
  • Low variable and fixed interest rates
  • Works with both private and Federal student loans
Cons
  • Preference for borrowers with good to excellent credit
  • Underwriting requirements are unclear

Laurel Road at a glance

4.2
Editorial score

Online experience

Has learning resources, access to rates, mobile app
5.0

Customer services and support

Multiple ways of reaching lender, wide range of hours
4.0

Repayment flexibility

Offers multiple repayment plans- but no special repayment programs
4.0

Loan Types Covered

Covers most student loan types
4.0

Eligibility

Doesn't cover bad credit, low income borrowers
4.0

Laurel Road Laurel Road View Rates

Laurel Road at a Glance

Laurel Road is a digital banking platform and brand of KeyBank that provides tailored solutions to support the financial wellbeing of healthcare and business professionals. Laurel Road’s banking and lending solutions include Student Loan Refinancing, Mortgages, Personal Loans, Student Loan Cashback℠ Credit Card, tailored savings accounts, and more.

Since 2013, Laurel Road has helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $9 billion in federal and private school loans. In April 2019, Laurel Road became part of KeyBank, one of the nation’s largest bank-based financial services companies and Member FDIC.

Suitable for Whom?

Laurel Road’s services make it an ideal partner for young, recent graduates who are looking for sustainable ways to pay their student loans while building their careers. Laurel Road’s services are geared toward this younger demographic, with offerings such as student loan refinancing and consolidation. Moreover, they are able to offer low rates that are ideal for graduates who are looking to avoid overpaying interest on their existing loans. Their interest rates are low because the company prefers to work with lower-risk borrowers who generally already have good credit standing. Laurel Road offers some debt forgiveness, though usually only for cases of extreme duress—such as a significant reduction in income due to disability—or death. Overall, Laurel Road’s services are a good choice for young adults who are looking to fast-track their futures without the burden of student loan debt.

Loan Features

Laurel Road offers a streamlined loan service for its customers. Their focus on student loans and recent graduates means that their services are designed to make borrowers’ lives easier. One of the things we liked the most is the company’s inclusion of forbearance, deferment, and loan forgiveness in their loan terms. If you unexpectedly lose your job, or become disabled, Laurel Road can help by deferring payments for up to three months at a time. In some extreme cases, they are even willing to completely forgive your loan, though this is usually the result of death or an extreme circumstance. Another perk offered by Laurel Road is their discount program, which you can qualify for by signing up for electronic fund transfers. Even better, Laurel Road offers a $400 bonus if you refer someone to one of their loan services. Here are some of the biggest highlights for Laurel Road:

  • Low fixed and variable interest rates
  • Useful insights available on the company’s blog
  • Receive in-person support at any of the bank’s locations
  • Refer borrowers and reap the rewards with the referrals program
  • Get an interest rate discount by signing up for electronic fund transfers
  • Flexible repayment terms
  • Transparent fees and charges
  • Forbearance, deferment, and forgiveness for loans

The Application Process

When you are ready to get started with Laurel Road’s student loan refinancing, it is very easy to access the funds you need. The first step is to fill out an online form through Laurel Road’s website, which will include a soft credit check. This will determine if you prequalify for refinancing. This prequalification makes the loan process significantly more efficient. Once completed, you will be prompted to upload your documentation. After Laurel Road reviews your application and documents, they will send you a promissory note that includes your interest rate, terms, and important disclosures for you to approve and sign. As soon as that is signed and returned, Laurel Road will repay your existing loans and offer you the opportunity to sign up for electronic fund transfers to receive a discount of up to 0.25%. 

Loan Terms – Essentials

Our research revealed that Laurel Road offers some of the most flexible repayment terms in the industry. Additionally, they do not require heavy documentation or incredibly sensitive personal details to get the application process started. While the initial form requires only some basic personal details as well as basic financial information, Laurel Road does notify you that refinancing approval may require more sensitive personal details. These requests may relate to your employment history, disposable income, credit history, and your debt-to-income ratio. We would have liked to see a clearer list on their website, but they are happy to provide this information if you contact customer support. While their requirements are geared toward borrowers with better credit, they were reasonable and not exclusive towards other individuals with lower creditworthiness but generally good qualifications. To get approved for a loan, Laurel Road requests the following conditions be met:

  • That you have steady employment
  • That you are a recent graduate or parent of one
  • That you are a US citizen or a permanent resident with a valid I-551 green card

To expedite the refinancing process, you should have the following on hand before you start your application:

  • A photo ID such as your passport or driver’s license
  • 2 recent paystubs
  • Proof of graduation such as your transcripts or a diploma
  • Payoff statements from your current student loan provider
  • A license to practice if you are a medical professional

We were pleased to see that Laurel Road can help you refinance both private student loans and Federal loans. The bank does note that for Federal loan refinancing, you will lose access to benefits such income-based repayment and pay-as-you earn programs.
Another major positive for Laurel Road is their loan amounts, which start from a minimum of $5,000 but can reach as high as the full amount of your outstanding student loans. Additionally, you can earn money from Laurel Road simply by referring friends and family to their personal and student loan services. For every person referred who qualifies for a loan, you are entitled to receive a $400 bonus, and there is no limit to the number of times you may refer borrowers or receive the benefits.
Laurel Road is also very transparent about their fees and charges. The bank does not charge you an origination or loan prepayment fee, although they do include late fees which is the lower amount of 5.00% or $28 as well as a $20 surcharge for any returned checks or electronic payments.

Repayment Terms

After you are approved for a refinancing loan, you may choose between terms of 5, 7, 10, 15, and 20 years, a testament to the repayment flexibility Laurel Road offers. With all available loan terms, you may choose between variable or fixed rates. Thanks to the bank’s commitment to working with borrowers in good standing, quoted rates are favorable. Laurel Road clearly displays their repayment terms, rates, and other important details on their website, making it easy to find all the important details you need when exploring refinancing. If you have more questions, the bank offers in-person consultations at any of their locations in Connecticut. Furthermore, if you want to access even better repayment terms and rates, you can also include a co-signer in your application.

How Safe is It?

Laurel Road takes their customers’ security and privacy concerns seriously. They take the necessary steps to provide industry-standard practices to ensure your data’s safety. The bank does collect some data related to your browsing for advertising and marketing purposes, but your information is kept anonymous and stored securely. Additionally, the company’s servers are protected by both physical and electronic security measures and redundancies to avoid hacking, data theft, or even loss because of accidents or natural disasters.

Help & Support

If you require assistance, Laurel Road can help you through several different channels. If you prefer to speak to a service representative in person, you can visit any of the bank’s locations throughout Connecticut. If you are not in the state, you can still contact the bank via telephone or e-mail six days a week during regular business hours. We found the bank’s representatives to be well-informed and courteous when responding to our inquiries. Additionally, e-mail queries were responded to promptly, generally within one business day.

Deep Dive into Pros and Cons

Overall, Laurel Road offers strong student loan services, although the bank does have some room for improvement.

  • We would like to see a clearer explanation of the company’s underwriting requirements to make it easier to prepare ahead of time.
  • Laurel Road could improve its educational services, adding a knowledge base or video tutorials that could help customers understand the lending process and its consequences.
  • The bank could also add a co-signer release, letting them be removed from the loan after a period of on-time payments.

Laurel Road’s many value-added benefits and features compensate for these minor drawbacks. Some features of the bank’s student loans include:

  • Low variable and fixed interest rates make refinancing a real possibility.
  • The bank can work with both private and Federal student loans.
  • In-person assistance for customers is available in the Connecticut area.
  • Interest rate discounts are offered to borrowers opting to activate electronic fund transfers.
  • The referral program gives you $400 for every person you refer that is approved for a personal or student loan.

Summary

Laurel Road is committed to helping young professionals fast-track their careers and lives by helping them refinance their outstanding debt. We were happy to see the bank’s dedication to offering low rates and flexible repayment terms that can fit a variety of circumstances and requirements. Additionally, the bank furnishes incentives such as discounts and referral bonuses, allowing you to save and make money even as you gradually pay off your refinanced student loan. Laurel Road’s customer support and in-person assistance also make it appealing, as you can rest easy knowing that there is someone ready to answer doubts or issues that may arise regarding your student loan. We were impressed with the company’s emphasis on young adults who require help that is not always available to them. Overall, Laurel Road delivers a good alternative for your student loan refinancing needs.

Laurel Road Laurel Road View Rates

BestMoney Staff
Written by
Bestmoney Staff
Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.
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See what some costumers are saying about Laurel Road
Laurel Road
Great
Reviews 430
on
Excellent
77%
Great
8%
Average
2%
Poor
1%
Bad
12%
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elizabeth
3 days ago
I opened an account and I was not able…
They've corrected their mistake. There was a short coming in their software as it's related to KeyBank which is their sibling. Actually, I have changed my feelings with them. Their transfer is fast and reliable. They offer very good incentives. It's an excellent bank.
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jamie cooper
15 hours ago
Locked out of account
Locked out of account. No reason I shouldn't be able to access my account.
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kalyan e
6 days 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.
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katwan pink
25 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.
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theresa
a month 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.
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elliott
a month ago
They have an awesome team and a…
They have an awesome team and a dedicated staff.
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!
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melanie ybarra
a month ago
App very user friendly
App very user friendly. Very timely on the notices.
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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.
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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.
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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.
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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.
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hilary
2 months 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.
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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..
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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
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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!
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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.
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sureillreview
5 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.
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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
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veronica bense
6 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.
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melb
6 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!
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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.
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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!
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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
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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.
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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.
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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.
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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.
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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 ?
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ditmari rolon
9 months ago
Excellent I need information in my…
Excellent I need information in my email ty
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disappointed doctor
10 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.
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hillary l.
10 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.
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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!
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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.
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james johnston
10 months ago
The rate was great
The rate was great, the process was simple, and the customer service was outstanding!
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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.
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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.
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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!
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john b
a year ago
easy to apply great rates
easy to apply great rates, and fast closing
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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.
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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!!
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kevin shin
a year ago
Great
Great! Very fast and helpful.
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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.
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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.
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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!
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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.
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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!
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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.
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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.
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latisha qian
a year ago
Easy process and great rates
Easy process and great rates
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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!!!
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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.
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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!
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rachael davalos
a year ago
I had an excellent experience
I had an excellent experience
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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.
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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.
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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.
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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.
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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.
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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,
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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.
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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.
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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
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francist
a year ago
Good communication with the…
Good communication with the representative.
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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!
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leo decandia
2 years ago
The application process was easy to…
The application process was easy to follow and I never felt lost!
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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.
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mary lita
2 years ago
Excellent 🌝🌝🌝🌝
Excellent 🌝🌝🌝🌝
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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.
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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!
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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.
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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.
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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.
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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
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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!
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ajb
2 years ago
Great company
Great company to refinance with. Quick and easy process. Low rates. I would highly recommend
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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.
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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.
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luis fernando
2 years ago
chevere me encanto
chevere me encanto
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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!
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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.
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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.
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stacy preville
2 years ago
Easy transaction
Easy transaction . Always a smooth transition from one loan to another.
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paul
2 years ago
Quick and easy experience
Quick and easy experience. Best rates around. Have refinanced with Laurel Road Three times now.
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j hurst
2 years ago
Disappointing.
Disappointing.
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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!
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autumn dye
2 years ago
very straightforward and easy to get…
very straightforward and easy to get the best interest rate!
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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.
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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.
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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.
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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.
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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.
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russell
2 years ago
Effective
Effective, efficient on time,good communication and nice organization
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aubrie
2 years ago
Very helpful
Very helpful, awesome customer service!
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burton shen
2 years ago
Really great rates and super simple…
Really great rates and super simple process to get approval and financed.
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brandon wright
2 years ago
Smooth Process
Smooth and easy process with great rates available.
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david warren
2 years ago
It was smooth process.
It was smooth process.
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dorgam badran
2 years ago
Great experience!
Great experience!
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bhãñù yãdãv
2 years ago
excellent work and fast loan and low…
excellent work and fast loan and low interest
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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.