Student debt refinancing: If you’re looking to refinance your student loans through Laurel Road, the company provides term options ranging from five to twenty years, with either fixed or variable rates for your borrowing. Refinancing your loans means that you take out a new loan through a private lender (in this case Laurel Road) to repay your current student loans. The advantage with refinancing your student debt is that instead of having multiple loans to deal with, you now have only one single loan to keep track of. Depending on your personal and financial situation, your loan interest rate and repayment schedule will also be different for this new loan (and quite possibly better than what you previously had!). Another benefit is that Laurel Road also allows you to refinance parent PLUS loans in your name. The downside of refinancing student debt means that you will forfeit any benefits linked with federal student loans such as income-driven repayment plans, loan forgiveness programs, etc.

Graduate loans: Laurel Road offers graduate loans to students pursuing courses at eligible schools. The company offers multiple repayment options, with loan terms varying between five and twenty years. For instance, you might be able to opt for a full deferment, which would mean that you may not be required to make payments while in school or during your grace period. Alternatively, you might also be allowed to choose to make a flat payment of $50 per month while in school and throughout your grace period, or you could also elect to pay only monthly interest during these times. If you choose to have a fixed interest rate on your loan, you could be paying a rate ranging from 4.63% to 8.77%. Variable rates for Laurel Road’s graduate loans carry interest rates of between 4.45% and 7.82%. In any case, there are many possibilities for student funding available, so make sure you review all your options and decide what will work best for you.

Personal loans: If it’s a personal loan that you are looking for, Laurel Road offers unsecured financing starting from $1,000, with terms of three to five years. Upper limits for personal loans from Laurel Road differ depending on your personal circumstances and purpose for the funds, and could go up to $80,000. Personal loans from Laurel Road bear a fixed interest rate of between 8.01% and 16.30%. These loans can be used for a variety of purposes ranging from auto purchases, home renovation projects, to cover moving costs, and so on.

Do you feel like Laurel Road may be a good fit for you? Check out the minimum criteria the company stipulates for those looking to become their customers.

Graduate loans: Loans are offered to students who are either currently enrolled at least half-time or have agreed to an offer to sign up to study at least half-time in an eligible program at an eligible school. You also need to be a U.S. citizen or a permanent resident with a valid I-551 card (a conditional I-551 card will not be accepted).

Personal loans: To apply for a personal loan with Laurel Road, you need to be a U.S. citizen or a permanent resident with a valid I-551 card (the card must show a minimum of 10 years between the “resident since” date and the “card expires” date). Whether or not you qualify for such a loan would also depend on your financial circumstances and credit.

No matter what loan product you wish to apply for at Laurel Road, the process starts with filling out a simple application online providing basic information about yourself and your background. After this, the company will provide you with conditional interest rates. If you like what you see, you can proceed with your application and submit documentation that Laurel Road requires to verify your identity, banking details and income. The final step is to select your loan type and term, and you’re all set.

With personal loans, you could receive a decision in as soon as one business day. Once approved, you should receive the loan proceeds in your bank account in about seven business days.

With other types of loans, the way funds are dispensed will depend on the type of financial product you are seeking.

Looking for more information or help? Laurel Road can be reached in the following ways:

•By email: [email protected]
•By phone: +1 (855) 245-0989 (Monday to Thursday from 8:30am – 8:30pm EST; Friday from 8:30am – 5:30pm EST)
•By mail: P.O. Box 191, 855 Main St, Bridgeport, CT 06601