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
- 1 Laurel Road In a Nutshell
- 2 About Laurel Road
- 3 Laurel Road $500 Checking Bonus
- 4 How to Earn $500 Checking Bonus
- 5 Laurel Road Referral Program: Up To $400 Bonus
- 6 Laurel Road Features
- 7 Laurel Road Rates & Fees
- 8 Laurel Road Requirements
- 9 Bottom Line
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|
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.
- Availability: Nationwide
- Routing Number: 021114111
- Customer Service: 1-877-801-4686
Laurel Road $500 Checking Bonus
For residents, Laurel Road is offering you an opportunity to earn $500 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
- Hard/Soft Pull: Unknown
- ChexStystem: Unknown
- Credit Card Funding: Unknown
- Monthly Fee: None
- Early account termination fee: $25
- Household limit: 1
(Offer Expires December 31, 2022)
|You can compare this to several great entry level Checking accounts with bonus offers include the Chase Total Checking® ($225 bonus), Discover Cash Back Debit (up to $360 Bonus), TD Bank Convenience CheckingSM ($150 bonus), PNC Bank Virtual Wallet ($400 bonus), Chase Secure Banking ($100 Bonus), and Aspiration Spend & Save Account ($150 bonus).|
How to Earn $500 Checking Bonus
- Earn a $500 bonus when you open a new Laurel Road checking account and make one or more direct deposits totaling at least $2,500 within 60 days after account opening.
- Mobile Check Deposit: Deposit your checks on-the-go.
- 40,000 No-Fee ATMs: Locate 40,000 Keybank & All-point ATMs.
- Send Money with Zelle®: Easily send money to family & friends.
- Bank Securely: Deposits are FDIC insured up to $250,000. KeyBank, N.A. Member FDIC.
- Online Bill Pay: Pay your bills from anywhere, anytime.
- Personal Checking Account
- Monthly Service Fee: $0
- Normal account service charges and balance requirements apply to these accounts.
- Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits.
- Limit one gift per qualifying account. Limit one gift per individual.
- The value of the gift will be reported to the IRS on Form 1099-INT.
- If you close your account within 180 days of account opening, you will be charged a $25 account early closure fee.
- Other miscellaneous charges may apply.
- Accounts overdrawn or closed at the time of gift payment are not eligible.
- Offer is subject to cancellation without notice and cannot be combined with any other offer.
- Laurel Road / KeyBank is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by the Laurel Road/KeyBank.
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:
Having a cosigner will make it easier for approval and improved rates if you can’t qualify on your own.
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.
|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.
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.