Find an updated list of Laurel Road promotions, bonuses, and offers here.
Laurel Road refinances both federal and private student loans and caters to health professionals with a medical school repayment plan. Refinancing through Laurel Road also works for parents who have taken out loans for their kids.
Compare Laurel Road with the promotions available from SoFi here.
Table of Contents
Laurel Road In a Nutshell
| Loan Terms | 5, 7, 10, 15 or 20 years |
| Loan Amounts | $5,000 up to your total outstanding loan balance |
| Loan Types | Variable, fixed |
| Refinance Parents’ PLUS Loan | Yes |
| Cosigner | Yes |
| Autopay Discount | 0.25% |
About Laurel Road
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.
*Compare Laurel Road Promotions with other bank bonuses from banks like Citi, Huntington, HSBC, Chase, TD, Discover Bank, Aspiration, Axos Bank, PNC Bank, BMO Harris, SoFi, Fifth Third Bank, Bank of America, Wells Fargo, US Bank, and more!*
Laurel Road $300 Checking Bonus
For residents, Laurel Road is offering you an opportunity to earn $300 Checking Bonus! Simply open an account and make a direct deposit. Take advantage while you can.
- Account Type: Checking Account
- Availability: Nationwide
- Direct Deposit Requirement: Yes
- Monthly Fee: None
- Early account termination fee: $25
(Offer Expires June 30, 2022)
| You can compare this to several great entry level Checking accounts with bonus offers include the Citi Priority Account (Up to $1500 Cash Bonus), Chase Total Checking® ($200 bonus), U.S. Bank Checking ($300 bonus), and Aspiration Spend & Save Account ($150 bonus). |
How to Earn Bonus
- Open a Laurel Road Checking account simultaneously while refinancing your student loan with Laurel Road by 06/30/22 at 11:59 p.m. (ET)
- Make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $300
- Effective February 1, 2022, you must open a Laurel Road Checking account simultaneously while refinancing your student loan with Laurel Road by 06/30/22 at 11:59 p.m. (ET) and make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $300, which will be deposited into your account within 60 days of meeting requirements.
- Click here for current Laurel Road Checking Rates.
- Normal account service charges and miscellaneous charges may apply to the Laurel Road Checking, which may reduce earnings. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits.
- Limit one bonus per qualifying account and per individual.
- The value of the bonus will be reported to the IRS on Form 1099-INT.
- If you close your account within the first 180 days of account opening, you will be charged a $25 account early closure fee.
- Accounts overdrawn or closed at the time of bonus payment are not eligible.
- Offer is subject to cancellation without notice and cannot be combined with any other bonus offer.
- Laurel Road is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by Laurel Road.
Laurel Road $300 Checking Bonus (Nurses)
For nurses, Laurel Road is offering you an opportunity to earn $300 Checking Bonus! Simply open an account and make direct deposits. Take advantage while you can.
- Account Type: Checking Account
- Availability: Nationwide
- Monthly Fee: None
(Offer Expires December 31, 2022)
| If you're looking for more advanced features for a checking account, you may want to compare this offer to the following: Citigold® Checking Account (Up to $1500 Cash Bonus), U.S. Bank Platinum Checking ($300 Bonus), Huntington 25 Checking ($300 Bonus), and BMO Harris PremierTM Account ($500 Bonus). |
How to Earn Bonus
- You must open a Laurel Road Loyalty Checking account by 12/31/2022 and make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Loyalty Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $300, which will be deposited into your account within 60 days of meeting requirements.
- Click here for current Laurel Road Loyalty Checking Rates.
- Normal account service charges and miscellaneous charges may apply to the Laurel Road Loyalty Checking, which may reduce earnings.
- Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits.
- Limit one bonus per qualifying account and per individual.
- If you were the primary owner on any Laurel Road checking account within the prior 24 months before opening the new checking account, you are not eligible for the bonus offer.
- The value of the bonus will be reported to the IRS on Form 1099-INT.
- If you close your account within the first 180 days of account opening, you will be charged a $25 account early closure fee.
- Accounts closed at the time of bonus payment are not eligible.
- Offer is subject to cancellation without notice and cannot be combined with any other checking account bonus offer.
- Laurel Road is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by Laurel Road.
Laurel Road Referral Program: Up To $400 Bonus
For each friend you refer, you can earn up to $400 when they refinance a student loan, finance a personal loan, or get a credit card. See the Laurel Road referral program page here. We currently do not have a referral link so feel free to leave yours in the comment section below!
Laurel Road Features
Laurel Road offers competitive rates, and allows you refinance all of your student loans. Laurel Road provides a tailored solution with flexible terms and limits to fit your financial your needs. Other special features include:
Cosigners Welcomed
Having a cosigner will make it easier for approval and improved rates if you can’t qualify on your own.
Borrower Protections
Laurel Road honors grace periods and delayed payments for recent graduates until time’s up.
You can apply for forbearance if you experience a qualifying economic hardship such as involuntary job loss or unpaid maternity leave. In these instances, you can postpone your monthly payments for up to three months at a time, for a total of 12 months during the term of your loan.
If you become permanently disabled or die, Laurel Road will forgive the total amount of your refinanced student loan.
Reduced Payments for Medical & Dental Residents
As soon as you’re matched to a residency program, you can refinance your student loans with Laurel Road and pay only $100 per month throughout your residency or fellowship and up to six months after training.
Laurel Road Rates & Fees
Your rate will depend on several factors, including your or your cosigner’s credit history and financial profile. To get a customized rate estimate, visit Laurel Road’s website and submit your information. These rate checks are done with a soft credit check, so your credit score won’t be affected.
Once approved, you can get a 0.25% interest rate discount when you sign up for automatic payments.
| Application Fee | None |
| Origination Fee | None |
| Prepayment Penalty Fee | None |
| Late Payment Fee | 5% or $28, whichever is less |
Laurel Road Requirements
To be eligible for student loan refinancing with Laurel Road, you’ll need to:
- Be a United States citizen or permanent resident with a valid I-551 card.
- Be a working professional with a four-year undergraduate or graduate degree from Title IV accredited institutions, a professional with an associate degree in a designated profession, or a parent who took on debt to finance your child’s education.
Laurel Road is available in all 50 states, the District of Columbia and Puerto Rico.
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Bottom Line
Laurel Road is offering tons of promotions like checking bonuses. The steps to follow are easy and fast, so be sure to take advantage today while you can. If you have student loans, refinancing with Laurel Road might be your best option, but be sure to compare rates to other lenders.
Additionally, leave a comment below informing us about your experience with the Laurel Road. See our best bank promotions page to learn more.
Please note:
This bonus is ONLY available with a student loan refi.
Martha,
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