In this Laurel Road student loan refinancing review, we will discuss:
Laurel Road student loan refinancing: Best For
Best For: Laurel Road is best for doctors and dentists who want to refinance student loans while in residency.
Overview
| Key | Value |
|---|---|
| Variable Rates: | 1.89% - 4.65% |
| Fixed Rates: | 2.80% - 6.00% |
| Minimum Credit Score: | 700 |
| Minimum Income: | None |
| Fees: | None |
| Minimum Loan Amount: | $5,000 |
Details
| Key | Value |
|---|---|
| Eligible Loans: | Private & Federal |
| Eligible Degrees: | Undergraduate & Graduate |
| Loan Terms: | 5, 7, 10, 15, 20 years |
| Borrower Residency: | All States |
| Hardship Deferment: | Yes |
| Co-signer Option: | Yes |
Laurel Road student loan refinancing: Pros and Cons
- Ability to refinance student loans while in medical or dental residency
- Refinance Parent PLUS Loans in your name
- Student loan refinancing available in all 50 states, Washington, D.C. and Puerto Rico
Cons:
- Cannot postpone student loan payments if you return school
Laurel Road student loan refinancing: Overview
Laurel Road is a leading lender for student loan refinancing and is based on Connecticut. Formerly known as DRB, Laurel Road refinances both federal and private student loans. Laurel Road focuses on borrowers with excellent credit, including doctors and dentists. Laurel Road has flexible repayment options, low rates, no application fees, no minimum income requirement and is available in all 50 states plus Washington, D.C. and Puerto Rico.
Advantages of Refinancing With Laurel Road
Here is what we like about Laurel Road student loan refinancing:
- Laurel Road will temporarily pause your student loan payments for up to 12 months if you lose your job or face other financial hardship.
- You can refinance Parent PLUS Loans, even if your child did not graduate.
- Co-signer release is offered after 36 months of on-time payments
Drawbacks of Refinancing With Laurel Road
Laurel Road can improve in these key areas:
- Offer more than 12 months of forbearance.
- Refinance student loans for borrowers without a degree.
Laurel Road student loan refinancing review: Details
- You have good to excellent credit.
- You have good to excellent income.
- You are a dentist or doctor.
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Want to check your interest rate? You can check your new interest rate for free within two minutes with no impact to your credit score.
- Low fixed and variable rates as well as flexible repayment options
- Available in all 50 states, plus Washington, D.C. and Puerto Rico
- Ability to refinance Parent PLUS Loans, even if your child didn’t graduate
- Ability to refinance student loans and release a co-signer after 36 months of on-time payments
How to refinance student loans with Laurel Road:
You can check your new interest for free in two minutes with no impact to your credit score. If you like your interest rate, you can apply online to refinance your student loans with Laurel Road. The application comes about 10-15 minutes to complete.
Is Laurel Road student loan refinancing right for you?
Laurel Road student loan refinancing may be right for you if:
- You have a credit score of at least 660
- You have stable and recurring monthly income
- You are a dentist or doctor with a high student loan balance
- You want a lower interest rate
- You have Parent PLUS Loans and want a lower interest rate, even if your child did not complete a degree
Laurel Road is a great option for borrowers who want a lower interest rate and want to refinance federal student loans, private student loans or both. Laurel Road has low rates, flexible repayment options, and no origination or application fees. With Laurel Road, you can pay off student loans with no prepayment penalties. You can also refinance student loans to remove a co-signer. To qualify, you will need a minimum credit score of 660 and stable monthly income. However, you can also qualify if you are a doctor or dentist in residency, or if you’re in your year of college. Finally, Laurel Road refinances Parent PLUS Loans, including if your child did not complete a degree.
Compare The Best Student Loan Refinance Rates For 2020
Overview
| Key | Value |
|---|---|
| Variable Rates: | 2.25% – 6.28% |
| Fixed Rates: | 2.99% – 6.73% |
| Minimum Credit Score: | 650 |
| Minimum Income: | None |
| Fees: | None |
| Minimum Loan Amount: | $5,000 ($10,000 in CA) |
Details
| Key | Value |
|---|---|
| Eligible Loans: | Private & Federal |
| Eligible Degrees: | Undergraduate & Graduate |
| Loan Terms: | 5, 7, 10, 15, 20 years |
| Borrower Residency: | All states |
| Hardship Deferment: | Yes |
| Co-signer Option: | Yes |
Overview
| Key | Value |
|---|---|
| Variable Rates: | 1.99% – 5.34% |
| Fixed Rates: | 2.98% – 5.49% |
| Minimum Credit Score: | 650 |
| Minimum Income: | None |
| Fees: | None |
| Minimum Loan Amount: | $5,000 |
Details
| Key | Value |
|---|---|
| Eligible Loans: | Private & Federal |
| Eligible Degrees: | Undergraduate & Graduate |
| Loan Terms: | 5-20 years |
| Borrower Residency: | All States except KY or NV |
| Hardship Deferment: | Yes |
| Co-signer Option: | No |
Overview
| Key | Value |
|---|---|
| Variable Rates: | 2.39% – 6.01% |
| Fixed Rates: | 2.79% – 5.99% |
| Minimum Credit Score: | 680 |
| Minimum Income: | $35,000 |
| Fees: | None |
| Minimum Loan Amount: | $15,000 |
Details
| Key | Value |
|---|---|
| Eligible Loans: | Private & Federal |
| Eligible Degrees: | Undergraduate & Graduate |
| Loan Terms: | 5, 7, 10, 15, 20 years |
| Borrower Residency: | All States |
| Hardship Deferment: | Yes |
| Co-signer Option: | Yes |
Overview
| Key | Value |
|---|---|
| Variable Rates: | 1.89% – 6.66% |
| Fixed Rates: | 2.63% – 6.63% |
| Minimum Credit Score: | 660 |
| Minimum Income: | None |
| Fees: | None |
| Minimum Loan Amount: | $5,000 |
Details
| Key | Value |
|---|---|
| Eligible Loans: | Private & Federal |
| Eligible Degrees: | Undergraduate & Graduate |
| Loan Terms: | 5 – 20 years |
| Borrower Residency: | All states |
| Hardship Deferment: | Varies |
| Co-signer Option: | Yes |
Overview
| Key | Value |
|---|---|
| Variable Rates: | 1.89% – 4.65% |
| Fixed Rates: | 2.80% – 6.00% |
| Minimum Credit Score: | 700 |
| Minimum Income: | None |
| Fees: | None |
| Minimum Loan Amount: | $5,000 |
Details
| Key | Value |
|---|---|
| Eligible Loans: | Private & Federal |
| Eligible Degrees: | Undergraduate & Graduate |
| Loan Terms: | 5, 7, 10, 15, 20 years |
| Borrower Residency: | All States |
| Hardship Deferment: | Yes |
| Co-signer Option: | Yes |
Overview
| Key | Value |
|---|---|
| Overall Rate: | 1.95% – 3.85% |
| Variable Rates: | – |
| Fixed Rates: | 1.95% – 3.85% |
| Minimum Credit Score: | None |
| Minimum Income: | None |
| Fees: | None |
| Minimum Loan Amount: | $25,000 |
Details
| Key | Value |
|---|---|
| Eligible Loans: | Private & Federal |
| Eligible Degrees: | Undergraduate & Graduate |
| Loan Terms: | 5, 7, 10, 15 years |
| Borrower Residency: | Must live near a branch in California; New York City; Boston; Greenwich, Connecticut; Palm Beach, Florida; Portland, Oregon; or Jackson, Wyoming |
| Hardship Deferment: | No |
| Co-signer Option: | Yes |
Overview
| Key | Value |
|---|---|
| Variable Rates: | 1.97% – 8.54% |
| Fixed Rates: | 2.95% – 8.77% |
| Minimum Credit Score: | 680 |
| Minimum Income: | $24,000 |
| Fees: | None |
| Minimum Loan Amount: | $5,000 |
Details
| Key | Value |
|---|---|
| Eligible Loans: | Private & Federal |
| Eligible Degrees: | Undergraduate & Graduate |
| Loan Terms: | 5, 7, 10, 15, 20 years |
| Borrower Residency: | All states, except ME, ND, NV, RI, WV |
| Hardship Deferment: | Yes |
| Co-signer Option: | Yes |
