Laurel Road

Laurel Road is a digital lending platform that is part of KeyBank, one of the largest regional banks in the United States. It focuses primarily on student loan refinancing and personal loans targeted at healthcare professionals, though some products are available to a broader audience. Laurel Road has built a specialty in serving doctors, nurses, dentists, and other licensed healthcare workers who often have large student loan balances and specific financial needs during and after training.

For student loan refinancing, Laurel Road allows borrowers to consolidate and refinance federal and private student loans into a single new private loan, potentially at a lower interest rate or with different repayment terms. Refinancing federal loans into a private loan permanently removes access to federal benefits such as income-driven repayment plans, Public Service Loan Forgiveness, and federal deferment or forbearance options. This is a significant tradeoff that borrowers should evaluate carefully before refinancing federal loans.

Laurel Road also offers personal loans that can be used for home improvement, debt consolidation, and other expenses. Personal loan products may offer competitive rates to well-qualified applicants, particularly healthcare professionals.

For medical residents and fellows, Laurel Road has historically offered student loan refinancing options with lower monthly payments during training, which can be a practical tool for managing debt while income is limited.

Because Laurel Road is part of KeyBank, it is a regulated bank lender. Compare all refinancing or loan offers against other lenders before committing, and consult a financial advisor before refinancing any federal student loans, as the decision is irreversible. Laurel Road's products are funded through KeyBank, which is FDIC-insured.