Features

Laurel Road is the online lending division of Darien Rowayton Bank. Darien Rowayton Bank is an FDIC-insured bank that was established in 2006, Darien Rowayton Bank has helped students refinance and consolidate over $2.5 billion in federal and private school loans.

How Does Laurel Road Work?

Laurel Road is a branch of Darien Rowayton Bank, a direct lender. Borrowers get a rate offer instantly by filling a short online form. There is no hard credit pull so requesting a rate does not hurt their credit score. Once a borrower receives a prequalified rate, they must upload documents to verify the information provided. Once approved, Laurel Road sends the final rates and terms.

To qualify, borrowers must have a credit score of 660+, a debt-to-income ratio of 43% or less, and a bachelor’s degree from an approved school.

What Are Laurel Road's Rates?

Rates vary depending on the loan’s term and type of rate (fixed or variable).

They range from

2.99% to 6.42% APR for variable rates

3.95% to 6.99% APR for fixed rates

How Much Money Can I Borrow from Laurel Road?

Laurel Road's student loans range from $5,000 to the full amount student debt balance.

Which States Does Laurel Road Operate In?

Laurel Road loans are available in all 50 states.

What Is Laurel Road's Application Process Like?

The entire application process is performed online on Laurel Road's website. The first step is to fill in a short form. If you qualify, upload documents to confirm your data.

How Does Laurel Road Compare to Other Lenders?

What we like about Laurel Road student loan refinancing:

- Laurel Road is a direct lender.

- No origination fees or prepayment penalties.

- Borrowers can apply for deferment and forbearance when going through financial difficulties.

- It allows parents to refinance loans in their child’s name.

- Doctors and dentists can apply for lower payments during their residency period.

- It offers competitive rates and terms.

- Application process is fast and doesn’t require a hard credit pull.

- Loan amounts range from $5,000 to the student debt balance.

What we don’t like about Laurel Road:

- Cosigners cannot be released. The one exception is in cases when the main borrower dies or is permanently disabled.

  • Loan Term (Years)
    5 - 20
  • Min Loan
    $5000
  • Variable APR (Refinancing)
    2.99% - 6.42%
  • Fixed APR (Refinancing)
    3.95% - 6.99%
  • Cosigner Optional
  • Graduate Students
  • Parents of Dependent
  • No Origination Fee
  • Student Loan Type
    Refinance
  • Unemployment Protection
  • Funding Time
    1-7 days
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