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Laurel Road Review

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BestMoney Staff
Bestmoney Staff
Dec. 15, 20214 min read

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 Roadat 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 $300 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 $300 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 $300 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.

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BestMoney Staff
Written byBestmoney 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.

Laurel Road
Laurel Road
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1%
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  • author
    SureIllReview
    Sep 22, 2022
    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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  • author
    John J
    Sep 12, 2022
    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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  • author
    Veronica Bense
    Aug 20, 2022
    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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  • author
    Melb
    Aug 20, 2022
    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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  • author
    Mora Mocanu
    Aug 01, 2022
    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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  • author
    Bianca Gaja
    Jul 15, 2022
    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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  • author
    JULIE PLOWMAN
    Jul 12, 2022
    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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  • author
    NKD
    Jul 12, 2022
    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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  • author
    Michael Finocchiaro
    Jul 11, 2022
    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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  • author
    Anonymous
    Jun 13, 2022
    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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  • author
    Drew C
    May 17, 2022
    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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  • author
    Benjamin Klepek
    May 16, 2022
    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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  • author
    ditmari rolon
    May 07, 2022
    Excellent I need information in my…

    Excellent I need information in my email ty

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  • author
    Disappointed Doctor
    Apr 21, 2022
    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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  • author
    Hillary L.
    Apr 20, 2022
    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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  • author
    E “EJ”
    Apr 04, 2022
    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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  • author
    Jennifer
    Apr 04, 2022
    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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  • author
    James Johnston
    Apr 04, 2022
    The rate was great

    The rate was great, the process was simple, and the customer service was outstanding!

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  • author
    Mike Tonsor
    Mar 31, 2022
    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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  • author
    Harsh Patel
    Mar 18, 2022
    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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  • author
    Virginia Mike
    Mar 17, 2022
    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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  • author
    John B
    Mar 08, 2022
    easy to apply great rates

    easy to apply great rates, and fast closing

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  • author
    Virginia Mike
    Mar 14, 2022
    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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  • author
    Ryan
    Mar 05, 2022
    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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  • author
    Kevin Shin
    Mar 04, 2022
    Great

    Great! Very fast and helpful.

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  • author
    anonymous
    Feb 16, 2022
    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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  • author
    Nicolette Baker
    Feb 02, 2022
    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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  • author
    Daniel Pace
    Feb 02, 2022
    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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  • author
    Chase Derrick
    Jan 27, 2022
    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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  • author
    Morgan
    Jan 27, 2022
    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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  • author
    Christine Thomas
    Jan 27, 2022
    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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  • author
    Abdulquadri Olawin
    Jan 26, 2022
    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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  • author
    Latisha Qian
    Jan 26, 2022
    Easy process and great rates

    Easy process and great rates

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  • author
    Leroy Turner
    Jan 26, 2022
    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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  • author
    customer
    Jan 26, 2022
    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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  • author
    Cameron Kornegay
    Jan 26, 2022
    Thumbs Up!

    I thought the whole process was really easy and I was very impressed how quickly it all happened!

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  • author
    Rachael Davalos
    Jan 26, 2022
    I had an excellent experience

    I had an excellent experience

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  • author
    Sara Tipton
    Jan 11, 2022
    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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  • author
    sara z
    Jan 07, 2022
    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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  • author
    Lindsay Vee
    Nov 12, 2021
    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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  • author
    James Pager
    Oct 20, 2021
    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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  • author
    McKenna Smith
    Sep 29, 2021
    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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  • author
    John T
    Sep 15, 2021
    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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  • author
    Saeed Arjomand Bigdeli
    Sep 15, 2021
    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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  • author
    Michele M
    Sep 08, 2021
    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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  • author
    John T
    Aug 30, 2021
    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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  • author
    FrancisT
    Aug 13, 2021
    Good communication with the…

    Good communication with the representative.

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  • author
    itsmo
    Aug 13, 2021
    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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  • author
    Leo DeCandia
    Jul 29, 2021
    The application process was easy to…

    The application process was easy to follow and I never felt lost!

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  • author
    Chaim Bernstein
    Jul 20, 2021
    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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  • author
    mary lita
    Jul 20, 2021
    Excellent 🌝🌝🌝🌝

    Excellent 🌝🌝🌝🌝

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  • author
    Megan Andrews
    Jul 18, 2021
    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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  • author
    Varun
    Jun 18, 2021
    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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  • author
    MO
    Jun 05, 2021
    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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  • author
    Robert J. Warren
    Jun 02, 2021
    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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  • author
    Jacqueline Gimby Argys Parker
    May 25, 2021
    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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  • author
    Rillia L S
    May 24, 2021
    Quick and impressive

    I love that I could could just call and speak to a representative without having any issue

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  • author
    Nickey Cox
    May 19, 2021
    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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  • author
    AJB
    May 19, 2021
    Great company

    Great company to refinance with. Quick and easy process. Low rates. I would highly recommend

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  • author
    Anthony B
    May 07, 2021
    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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  • author
    Michelle B Ramirez
    May 06, 2021
    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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  • author
    Luis Fernando
    Mar 28, 2021
    chevere me encanto

    chevere me encanto

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  • author
    JS
    Mar 20, 2021
    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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  • author
    Candace Mchugh
    Mar 18, 2021
    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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  • author
    Brandon
    Mar 17, 2021
    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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  • author
    Stacy Preville
    Mar 17, 2021
    Easy transaction

    Easy transaction . Always a smooth transition from one loan to another.

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  • author
    Paul
    Mar 17, 2021
    Quick and easy experience

    Quick and easy experience. Best rates around. Have refinanced with Laurel Road Three times now.

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  • author
    J Hurst
    Mar 05, 2021
    Disappointing.

    Disappointing.

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  • author
    John
    Feb 22, 2021
    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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  • author
    Autumn Dye
    Feb 20, 2021
    very straightforward and easy to get…

    very straightforward and easy to get the best interest rate!

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  • author
    Norm Martel
    Feb 19, 2021
    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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  • author
    Yohannes Gebrekidan
    Feb 18, 2021
    Application process was fast and…

    Application process was fast and easy-to-use. Customer service accessible and answered my questions.

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  • author
    Preston Devens
    Jan 23, 2021
    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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  • author
    Annette Johnson
    Jan 22, 2021
    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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  • author
    Kimbley
    Jan 21, 2021
    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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  • author
    RUSSELL
    Jan 21, 2021
    Effective

    Effective, efficient on time,good communication and nice organization

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  • author
    Aubrie
    Jan 21, 2021
    Very helpful

    Very helpful, awesome customer service!

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  • author
    Burton Shen
    Jan 21, 2021
    Really great rates and super simple…

    Really great rates and super simple process to get approval and financed.

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  • author
    Brandon Wright
    Jan 21, 2021
    Smooth Process

    Smooth and easy process with great rates available.

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  • author
    David Warren
    Jan 21, 2021
    It was smooth process.

    It was smooth process.

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  • author
    Dorgam Badran
    Jan 21, 2021
    Great experience!

    Great experience!

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  • author
    Bhãñù YãdÃv
    Dec 27, 2020
    excellent work and fast loan and low…

    excellent work and fast loan and low interest

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  • author
    Brittany
    Dec 18, 2020
    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.

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  • author
    Amber Shell
    Dec 17, 2020
    Very quick and easy transition for…

    Very quick and easy transition for refinancing my loans. Would recommend.

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  • author
    Eleanor Mcshane
    Dec 17, 2020
    Rates were so much more competitive and…

    Rates were so much more competitive and the timing was the fastest I have ever experienced, even with Covid

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  • author
    Stephanie Chambers
    Dec 17, 2020
    Great Rate & Amazing Ava

    Great Rate, and great customer service! Got back to me way faster than other companies and you have a true treasure on your team with Ava there. Give that woman a hug and a raise!! She is FANTASTIC and the backbone of your Customer service team and made me feel like I was cared about:)

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  • author
    Joseph Mapa
    Dec 09, 2020
    Very Patient Group!

    Very Patient Group! I had a lot of questions and they took the time to explain things. I know My approval rate would have been faster but my questions held it back. I never felt push or sold on anything. I got exactly what I wanted. Highly reccomend!!

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  • author
    Jason Dazz
    Nov 27, 2020
    Thank you for the experience!

    Thank you for the experience!

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  • author
    Sam
    Nov 21, 2020
    the best refinancing experience

    This is probable the best refinancing experiencing I've had from start to finish. Getting a quote was simple and fast within minutes. Rate was quite competitive. The underwriting process was very fast once the application and supporting documents are submitted. Customer service by Amber was top notch ! She is cordial and professional. She answered most refinance related questions through chat and was able to connect with corresponding departments for more in-depth answers. There is also an option to request adjustment to the final payoff amount, if needed. I'm quite satisfied with the entire process from getting a quote to funding the loan. I would highly recommend Laurel Road to those who are looking to refinance their loans !

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  • author
    Kimberly Figurski
    Nov 20, 2020
    Wonderful

    I have no recommendations for changes as it went as smoothly as I believe it could. My only comment is "where do you find your customer service personnel?" The several I spoke with were wonderful and surely wish we were recruiting and hiring from the same pool of candidates! Knowledgeable as well as nice. Thanks.

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  • author
    Kellie Grenier
    Nov 19, 2020
    Customer service is always helpful.

    Customer service is always helpful.

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  • author
    Naomi Luong
    Nov 19, 2020
    10/10 Refinancing Service

    I always have a great experience working with anyone that answers the phone at Laurel Road. They all have the knowledge and the patience to answer all my questions with no judgement attached! I can definitely tell that the hiring team at Laurel Road knows what they're doing. They made the process quick and easy for refinancing my big student loans.

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  • author
    Dan
    Nov 19, 2020
    Great experience with Laurel Road

    Quick and painless refinance process with Laurel Road. They had the best rates offered as compared to multiple other lenders. Funded in just a few weeks. Their customer service is excellent, and even their online dashboard is customer friendly, easy to use.

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  • author
    Peter Steinken
    Nov 19, 2020
    The experience I had was fantastic

    The experience I had was fantastic. I was able to complete everything from my home computer and it took less than a few weeks to have everything completed. They were very responsive and professional and I got a great new rate that'll save me a lot of money. I'll definitely be referring my friends to this company.

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  • author
    Richard Lechner
    Oct 15, 2020
    I never look forward to doing anything…

    I never look forward to doing anything that has to do with student loans, but wow , then comes laurel road ! they will be my go to company until my two kids are out of college. Sallie Mae would be very smart to pay laurel road huge amounts of money to learn how to treat clients properly. Sincerely, Dr Richard Lechner

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  • author
    J. Kramer
    Oct 15, 2020
    Prompt

    Quick and easy process

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  • author
    Cyrus
    Oct 15, 2020
    Best rate

    Best rate, quick application, loan closed and funded promptly. 'nuff said

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  • author
    Akinola
    Sep 17, 2020
    Laurel Road is truly undoubtedly the best loan refinance provided with no issues.

    Laurel Road is truly undoubtedly, the best loan refinanced have ever had so far. Very easy to use and quick response from the customer service is second to none. I will surely recommend to anyone I know.

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  • author
    Brian Quinn Jr.
    Aug 27, 2020
    A Genuine Pleasure To Work With

    This company has been a genuine pleasure to work with. Before Laurel Road, I had a student loan with over 10% interest from Sallie Mae, and 6 more student loans from Navient who purposefully misguided me into making poor and expensive decisions. I've never gotten this impression from Laurel Road. Their process for refinancing is easy, transparent, and fair. If you do have questions, their phone support is phenomenal. There's been a few occasions where they've taken extra time to look at my account and explain any figures I don't understand. I highly recommend them for refinancing your student loans.

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  • author
    Nikki
    Aug 27, 2020
    Happy Customer!

    When I came out of my medical residency in 2017 there were only 2 banks offering student loan refinancing. Laurel Road (associated with Mohela, Keybank, DRB Bank) has always provided me with great customer service. Most importantly - they always offered me lower rates when compared to the competition! I had to refinance my loans shortly after 3 years due to COVID-19 and again their service was excellent with the lowest rates! They have definitely earned my business and I am looking forward to the finalization of my mortgage loan in the near future. Highly recommend.

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