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Laurel Road Review
Reviews 470
Laurel Road
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Laurel Road
Laurel Road
Great
Reviews 470
Bestmoney Staff
Apr. 27, 2023
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

8.4
Editorial score

Online experience

Has learning resources, access to rates, mobile app
10.0

Customer services and support

Multiple ways of reaching lender, wide range of hours
8.0

Repayment flexibility

Offers multiple repayment plans- but no special repayment programs
8.0

Loan Types Covered

Covers most student loan types
8.0

Eligibility

Doesn't cover bad credit, low income borrowers
8.0

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 you can refer borrowers up to 10 times per year.
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 470
on
Excellent
74%
Great
8%
Average
2%
Poor
1%
Bad
15%
S
s.a.
2 days ago
Helps me save and manage my money
The APY on the high yield savings account is among the best in the industry, and has the benefit of coming from a reputable institution. Definitely considering refinancing my student loans with Laurel Road when the COVID payment pause ends.
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richard brumm
2 days ago
Easy setup and transfer
Easy to setup and transfer money fie a great 4.8% rate.
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customer
2 days ago
I wish I could rate them ZERO stars
I wish I could rate them ZERO stars. My savings account has been blocked for three weeks now and not one person can -or will not- tell me why. I have called them almost daily and the say "working on it". Here's what they said early yesterday- Reply from Laurel Road 5 hours ago We are sorry we fell short of your expectations. We have rectified the issue and you should be all set. Please give us a call at 833-427-2265 if you have further questions. Now at 30 hours later my account is still blocked to my access. I'm wondering5/15/2023 if this bank is really a big scam now.
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alyssa b.
3 days ago
I opened a high yield savings account…
I opened a high yield savings account with Laurel Road to maximize my savings prior to purchasing a home. I called Laurel Road when I had questions and their premium care specialists were always very nice and super helpful.
S
sarah
3 days ago
Easy to set up and start earning!
Easy to set up, great customer service. Excellent APY!
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alec olson
3 days ago
Holding my money for no reason
Have waited 3 weeks for them to unfreeze money I transferred in FROM MY OWN ACCOUNT IN MY NAME. Have called multiple times and told the same thing "wait more business days..." I am very close to filing an official CFPB complaint.
J
janet
3 days ago
super easy online experience!
super easy online experience!
S
susan palmer
3 days ago
Very helpful
💯 eExcellent customer service in a timely manner
J
johnny chisholm
4 days ago
You guys have excellent customer…
You guys have excellent customer support. You also have great interest rates on savings account.
c
customer
4 days ago
Worst bank I have ever found in my 80 years
You make it easy to open and fund a savings account. I did this four weeks ago, then two weeks later you slam the door on my account and totally block me from my money. After 4-5 phone calls not one person can tell me why. As I write this my account is still blocked after two weeks. If I ever get to pull my money out of your bank I will pull every drop in a hot minute and give your bank zero stars wherever I can find to do so. GIVE ME BACK MY MONEY!!! IF MY ACCOUNT IS NOT RETURNED i WILL BE HIRING AN ATTORNEY THIS WEEK.
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cassandra
4 days ago
Super easy to research and setup.
Super easy to research and setup an account. Direct transfers are also very quick and easy. Great security with MFA enabled on every login.
S
steven lyles jr
2 days ago
Great Experience
My experience has been over excellent. As of this date, I had no issues, and everyone I have spoke to has been very polite, efficient and professional. If I have one critique is that the technology, for the website has been hit and miss.
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b from nyc
4 days ago
Best high-yield savings in the market!
My experience with Laurel Road has been phenomenal. I already had a loyalty checking account, and simply adding the high-yield savings account was simple, easy, and seamless. The high yield savings account is the top of the market, and the terms and conditions are really easy to understand. Simply connect your banks and move money in an instant.
J
james murphy
4 days ago
Easy and convenient
Easy and convenient
J
jen p
4 days ago
I have had nothing but issues since I…
I have had nothing but issues since I applied for the high yield savings account. 1) When applying you should consider giving the option for customers to add a co-owner from the beginning instead of having to wait 2 weeks to be able to do so. 2) when applying, you should state that the name has to be EXACT as the external accounts we will be linking for transfers or else it won't get verified. And when it can't be verified there is no explanation as to why. I had to request for you guys to change my middle name to just my initial...then wait a few weeks for that to be done and then my account still siad it cannot be verified. I then requested my husband as a co-owner thinking maybe that is the issue becasue he is a co-owner on my external account (neither of us our primary on our external account just joint). On the form to enter the co-owner's name it asks for a full middle name but NOWHERE does it have a special note section where I could ask you guys just to use his middle initial so that it matches his name on our external acct. So then after he was added as a co-owner I had to call you to change his mid name to just his initial..still waiting for that to be done. I have to log in each day to see if/when the change has been made. No email or notification to alert the change..would be helpful. I have had to call in numerous times trying to figure out why my external account won't verify. A rep suggested I try zelle to transfer money (since if I transfer from my external account, they tansfer a fee each time). I set up zelle only to get errors within my Laurel road account, I had to call again just to learn that zelle doesn't work with savings accounts. I was told that after you change my husband's middle name to middle initial, if I still can't get my extrnal account verified, then try and have my husband create a login and then have him try. if that doesn't work then I need to set up a laurel road checking account so that I can write myself a check to deposit into my external account when I need to withdraw. It has all been such a hassle. I am not comfortable with laurel road having my money if I can't easily get it back to my external account
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james mueller
4 days ago
The transfer time seamed rather long I…
The transfer time seamed rather long I hope when I need money to go to my external account it doesn't take quite as long. Interest rate is what I was going for
B
brett steinberger
4 days ago
Ease & speed of online application and…
Ease & speed of online application and approval. Great APY rates too!
Y
yatish bhandari
4 days ago
Restricted funds - log a complaint with the OCC
A month has passed by without access to my funds. Spoke to the customer service today and still the same answer, there is no SLA and/or timelines when the review process will be completed. Anyone who is having the same issue, I recommend you put in a complaint with the OCC who is the regulator for KeyBank. Hopefully, when enough of us put in these complaints, the bank will consider changing their process.
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lab tech
13 days ago
without a notice they froze my account
without a notice they froze my account. My direct deposit was blocked. I don't have access to my funds. There is no customer service, or explanation. So basically if they were an individual I'd have them arrested for theft. But since theyre a bank, I have to hope they give me my money. Oh and they owe me a $200 bonus. And they charge bogus fees
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robert bodey
13 days ago
BEWARE NOW LAUREL BANK DEPOSITS…
I now have deposited $34k with Laurel Road / Key Bank. The money going in has been easy for deposits. Attempting to link accounts with my banks & investment accounts has been disastrous. Speaking with clueless customer reps has not been helpful . This isn’t my first rodeo linking bank accounts. It’s kind of interesting I can attach my Wells Fargo checking account to deposit funds, however I can’t link them to withdraw any funds. The response I receive from my link process with Laurel Road / Key Bank website is it’s an inactive account. I think it’s time this week for me to contact the FDIC AND FBI this week. This could be another FaceBook/ Meta fraud company.
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c i
16 days ago
You provide an easy online experience
You provide an easy online experience. Great savings interest rates. Unparalleled bonus money for direct deposits. All banks should be like Laurel Road.
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nkrumah jean louis
17 days ago
Amazing customer service
Amazing customer service , signing up for checking and savings was an easy process so far Soo good to be honest
H
hoa dao
18 days ago
Reliable online banking
This Laurel Road online banking is quite reliable. Their staffs are honest, fast and courteous. Their verification process makes you feel safe for them to handle your banking needs. I hope to see them grow nationwide.
A
andrew contafio
18 days ago
Unique promotions you have
Unique promotions you have. I’ve been direct depositing my SS check every month into PNC for years and they have given me jack.
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candice dillard-winnex
18 days ago
Hello customer service is great…
Hello customer service is great everyone that I speak with is very nice and helpful and friendly thank you so much!
A
angie
3 days ago
DO NOT GIVE ANY MONEY TO THIS COMPANY!
DO NOT GIVE ANY MONEY TO THIS COMPANY! Looks at all the similar reviews how this company is screwing over anyone trying to transfer money out!!!! BEWARE!!! I initiated a transfer and they did not tell me they were locking me out of my account. I just thought the app was not working (again!). So I tried to log in online instead and then they had a pop up saying to call to get your account unlocked. I thought maybe the password I had put in wrong. So I had to call to learn my account was locked due to the transfer I initiated and they were looking into fraud. NO notification otherwise from them. Not even an email. I had even verified micro deposits before initiating the transfer. So isn’t the point of microdeposits for verification?!?! Then they take 10 business days just to assign it to someone to even look into it for fraud. You can not talk to the fraud specialist. They state they will let you know of their results via letter at an unknown time. I even talked to their Executive Office at KeyBank who really isn’t helpful at all either because they need to try to talk to someone at Laurel Road. So anytime I call it’s an hour call because it’s constantly being transferred and talking to multiple people, yet no one can ever provide useful information or resolve the issue. A month of being locked out so far at this point. (PS love how they listed a number to call in response to this message that when I did call just rang and rang!!! If that doesn’t tell you something!!!)
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yatish bhandari
19 days ago
Fraud - STAY AWAY!
Laurel road advertises a grat APY on their savings account. When I transferred over my emergency fund to the savings, a few days later my account was frozen (and still is). Customer service does not know or will not say why. I'm not able to login to my account and I cannot withdraw my funds with a complete lockout. Customer service says the account is under review (from what exactly???) and that a letter would be sent to me if the review was completed and my account would be unlocked or CLOSED???? I'm okay with closing the account, since I don't plan to keep it open anymore after this instance, but when asked would I be sent a check for my funds, the customer service did not know! This is utter fraud from a bank and a brand I trusted in the past. I'm looking for a legal advice now. They need to be sued!!
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steve
22 days ago
Restricted access to account and funds!!!
I don't recommend this bank if you want access to your own funds and lack of customer service. I opened a Laurel Road Checking and Savings account recently. They locked the Account for no reason and restricted my access. I called the customer service they told me I had to wait 15-30 business days to review and up to 7 business days to receive a piece of mail for more information on the why my account is under review! Why couldn't they review my account before opening and accepting deposits instead of locking me out for over a month?
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jerry carter
a month ago
This company offered a bonus for direct…
This company offered a bonus for direct depositing 2500 into a checking, after the direct deposit was made and I qualified I tried to use the 2500 and they froze my account and locked me out of the online portion, the few people I have talked to are clueless and key bank doesn't want to help either. It's now been 15 days.
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james vega
a month ago
They defrauded me
They defrauded me. I opened a savings account with $5000, I have a checking account that my payroll direct deposit goes in and they locked both accounts. I wrote checks from my checking account and they are bouncing left and right. I am going to contact FBI to report them. Their actions indicate criminal intent. Stay away from them they will do the same.
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anastasia
a month ago
I would like to rate this higher
I would like to rate this higher, but I too have had a problem with my account being frozen for fraud, without notice, over a weekend, and customer service wasn't available. I also had the displeasure of speaking to someone that had no idea what they were doing, at. all. I was able to speak with another individual during another call who was able to address my needs and concerns quickly and efficiently. Laurel has a good loyalty/work perks program, but I am surprised at some of the issues I've had. My questions since the initial incident have been handled well, by that same person who was helpful. If I'm able to go a few months without issues, I'll be happy to revisit my rating.
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sachan prusty
2 months ago
Potential fraud by Laurelroad/Key Bank
Despite my numerous attempts to seek assistance, I have yet to receive any help. If someone from Laurelroad happens to come across this message, I implore you to address this matter urgently. I have reached out a total of six times, including a call made today, but each time I am told there are no updates. At this point, I am beginning to suspect that the bank is intentionally scamming me. It has now been 22 days since this issue first arose.
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sachan prusty
2 months ago
Account Restricted
Without any prior notice, my access to Laureroad has been restricted. Upon contacting them, they informed me that they cannot offer any assistance and do not know the duration of the restriction. I am now uncertain about what to do as a significant amount is held in that account.
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paula fletcher
3 months ago
Loan process
The process was smoother than I thought it would be; everything being online sometimes is a challenge. They made it very easy for me and I appreciate that.
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kenya lazovik
3 months ago
Don't keep their promises
I refinanced my student loans with them. They have a sliding scale interest rate depending on how much you direct deposit into their linked checking account. Originally my husband was having his check direct deposited and we had no issues. We like to front load his 401k so he was depositing the majority of his check into his Fidelity account. So I transferred my direct deposit to Laurel Road. I lost my discounted rate because they decided my employers direct deposits don't qualify as direct deposits. The only positive of this bank is the discounted interest rate I was receiving. Otherwise, this bank is inconvenient and impractical
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karirose engel
3 months ago
terrible customer service
terrible customer service, approved for checking account and not allowed to get on line, employees will not tell me reason
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scott mclaughlin
3 months ago
The entire process was so easy and…
The entire process was so easy and efficient. They provided constant email updates and reminders so you always new the status. Just tremendous!
K
katelynn perkins
3 months ago
Recommend this company!
Laurel Road made it easy to reconsolidate my student loans, along with lower interest rates. The application process was easy and fast. They made what can be a stressful thing for many individuals, stress free.
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christopher crespo
3 months ago
Going on two months still waiting on my…
Going on two months still waiting on my check
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trusted consumer
4 months ago
AVOID - DO NOT USE
Please - I beg you - do not use this company. My mother opened a checking account with Laurel Road and they claim there was fraud. Her direct deposit has been held without explanation for 13 days now and they are refusing to explain why. Do not use this company under any circumstance.
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hilary prosk
4 months ago
I previously wrote a review of Laurel…
I previously wrote a review of Laurel Road Bank in December of 2022. My poor experience with them has sunk to an even lower level, if that is even possible. After locking me out of my account for a month, holding onto my money and giving no explanation for any of this...they finally returned my money and closed my account. BUT that wasn't enough. Now they have reported me to EARLY WARNING, which prevents me from opening up any other accounts even with my current bank. LEGAL PROCEEDINGS TO COMMENCE IMMEDIATELY. (I have already reported this horrid excuse for a bank to the Consumer Financial Protection Bureau. The Bureau contacted me a month ago telling me the bank "needed more time to research the account." A herd of chimpanzees could do a better job than these clowns.
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jerry
4 months ago
Easy to open account.
Easy to open account.
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armond brown
4 months ago
Five star app
It’s my first time messing with this app but so far so good
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jeffery preston
4 months ago
Laurel road
I really like the banking features
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nicole rutland
4 months ago
I do not recommend y'all opened my…
I do not recommend y'all opened my account sent me a card and checks then closed my account with no explanation and have the audacity to still send welcome emails and thanks for being a customer and now a survey smh I'm real disappointed and dissatisfied
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cecil jordan
4 months ago
I always do my banking online and love…
I always do my banking online and love to use banking phone app, but the app is not so good.
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thomas murphy
4 months ago
I've opened a new account I'm over a…
I've opened a new account over a month ago and things are running very smooth with my direct deposit and the benefits offered by Laurel road.... I would recommend this to anyone
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jamie cooper
4 months 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
4 months 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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elizabeth
4 months 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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katwan pink
5 months 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
5 months 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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karisa
5 months 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
5 months ago
App very user friendly
App very user friendly. Very timely on the notices.
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briley bowen
5 months 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
5 months 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.
6 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
6 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
6 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
8 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
8 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
8 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
8 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
9 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
9 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
10 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
10 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
10 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
a year 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
a year 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
a year 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
a year 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
a year 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
a year 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
a year 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
a year ago
Excellent I need information in my…
Excellent I need information in my email ty
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disappointed doctor
a year 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.
a year 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”
a year 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
a year 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
a year 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
a year 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