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  Laurel Road Student Loan Refinancing

Laurel Road Student Loan Refinancing

in Student Loan Refinancing from Laurel Road

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Laurel Road Student Loan Refinancing

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in Student Loan Refinancing from Laurel Road

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Highlights
Loan Amount $5,000 - $50,000
Loan Term (Years) 5 - 20 years
Fixed APR 3.5% - 7.02%
Variable APR 1.99% - 6.65%

Laurel Road Student Loan Refinancing Review

Laurel Road Student Loan Refinancing is a student loan refinance offering by Laurel Road, . Founded in 2006, Laurel Road offers student loan refinancing in 50 states (and Washington, DC).

Laurel Road Student Loan Refinancing FAQ

What APRs does Laurel Road Student Loan Refinancing offer on its student refinancing loans?

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 Student Loan Refinancing offers variable rate APRs that range from 1.99% to 6.65%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 3.5% to 7.02% APR.

How much can you borrow via Laurel Road Student Loan Refinancing?

Loan amounts start at $5,000 and go up to $50,000

Does Laurel Road Student Loan Refinancing charge an origination fee?

No, Laurel Road Student Loan Refinancing 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.

Does Laurel Road Student Loan Refinancing charge prepayment fees?

No, Laurel Road Student Loan Refinancing does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does Laurel Road Student Loan Refinancing offer?

Laurel Road Student Loan Refinancing provides refinancing loans of 5 to 20 years.

It also offers borrowers unemployment protection. This means that if you lose your job through no fault of your own your loan payments may qualify for a temporary hold.

What type of borrowers will Laurel Road Student Loan Refinancing consider?

Laurel Road Student Loan Refinancing considers loans applications from:

  • undergraduate degree holders
  • graduate degree holders
  • parents of graduates

What do you need to qualify for Laurel Road Student Loan Refinancing?

Laurel Road Student Loan Refinancing does not require or does not disclose a credit score minimum.

Laurel Road Student Loan Refinancing does not have or does not disclose a minimum annual income eligibility requirement. Laurel Road Student Loan Refinancing will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Laurel Road Student Loan Refinancing. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Laurel Road Student Loan Refinancing. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Proof of citizenship or residence permit

Laurel Road Student Loan Refinancing Disclosure: If we cannot put our full terms and conditions please just say To view current terms and conditions please visit: https://www.laurelroad.com/personal-loan/
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Laurel Road

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).

Message From Our Editor

What we love about Laurel Road

Laurel Road offers comprehensive and realistic student loan refinancing options. It’s arguably the most efficient way to save more money on student debt. Laurel Road is also competitive with major online lenders such as CommonBond and SoFi.

Laurel Road offers refreshing content on site that convinces individuals to refinance their student loans and achieve flexibility. It’s great that Laurel Road can refinance federal and private student loans. The company also doesn’t charge a repayment penalty or origination fees. It offers repayments periods up to 20 years and allows students to refinance student debt as low as $5,000.

What could the Laurel Road do better?

There are a few pitfalls that you should know about Laurel Road beforehand. For instance, the company doesn’t provide an option of cosigner release. Usually, it is a common feature among lenders that releases you from your loan after periodic payments.

Laurel Road also has strict eligibility requirements to register for a student refinancing loan. Even with a cosigner, you will have to meet the high credit score requirements of Laurel Road. If you want long-term repayment options, you will have to deal with fixed rates. Laurel Road can reduce its current required credit score of 680 to apply for a student loan.

The backstory of the Laurel Road

Laurel Road, formerly DRB or Darien Rowayton Bank, has been in business since 2006. The launch of its first student refinancing loan product was in 2013 to college graduates. In 2017, the company decided to change the name to Laurel Road. As of now, the company headquarters are in Connecticut.

The Verdict

When it comes to student loan refinancing options, Laurel Road takes pride in its low-interest rate and monthly payment approach. In all honesty, if you want the most competitive rates, Laurel Road is worth it. However, qualifying for its loan takes quite an effort. You will need an excellent credit score to meet all its lender requirements. Therefore, before you decide, make sure to compare other student loan refinancing options.

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Other Services by Laurel Road

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee
No Prepayment Fee
Cosigner Optional
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Verification Documents Required
  • Proof of Income
  • Proof of citizenship/residence (Green Card)
Approval Speed 24 hours
Unemployment Protection
Fixed APR 3.5% - 7.02%
Loan Amount $5,000 - $50,000
Variable APR 1.99% - 6.65%
Loan Term 5 - 20 years

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