Laurel Road is a bank based in Bridgeport, CT. It was founded in 2006 and offers student loan refinancing in 50 states (and Washington, DC).
The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate.
Laurel Road offers variable rate APRs that range from 2.99% to 6.42%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 3.50% to 6.99% APR.
No, Laurel Road does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
No, Laurel Road does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
Laurel Road provides refinancing loans of 5 to 20 years.
It also offers borrowers unemployment protection. This means that if you lose your job your loan payments may qualify for a temporary hold.
Laurel Road considers loans applications from:
Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.
Active duty servicemembers and their covered dependents are eligible to apply for a loan via Laurel Road. Their rates fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants must provide the following documentation:
Laurel Road is a bank based in Bridgeport, CT. It was founded in 2006 and offers personal loans, student loan refinancing, and mortgages in 50 states (and Washington, DC).
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