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Laurel Road student loans: 2025 review

Written by
Lauren Nowacki
Edited by
Jennifer Lee
Updated on April, 23, 2025

At a glance

2025 Bankrate Awards Winner badge

Laurel Road: Bankrate 2025 Award Winner Best For Refinancing

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4.6
Rating: 4.6 stars out of 5
Bankrate Score
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Repayment Options
Rating: 4.6 stars out of 5
4.6
Affordability
Rating: 5 stars out of 5
5.0
Customer Experience
Rating: 4.2 stars out of 5
4.2

About Bankrate Score

Full methodology

Bankrate's take: Laurel Road began originating loans in 2013 and has since helped thousands of students refinance their loans. Although Laurel Road is not currently originating new student loans and instead directs its customers to Sallie Mae for in-school borrowing, it has refinancing solutions available to help you more effectively manage your student loan debt.

Lender Details

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Loan amount

$5,000 to full balance owed

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APR from

4.99% to 8.90% Fixed; 5.29% to 9.20% Variable (with autopay)

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Term lengths

5 to 20 years

Refinancing with Laurel Road

Fixed APR Variable APR Dollar amount Term range
Refinance student loans 4.99% to 8.90% 5.29% to 9.20% $5,000 to 5-20 years
Parent plus refinance 4.99% to % 5.29% to 9.20% $5,000 to 5-20 years
Medical refinance 4.99% to 8.90% 5.29% to 9.20% $5,000 to 5-20 years

Laurel Road student loan refinancing

Laurel Road is an online lender that offers student loan refinancing. While its refinance loans can be used for debt from any field of study, it caters to students in the healthcare field by offering special pricing to medical professionals looking to refinance. Graduate and undergraduate students both inside and outside healthcare can refinance their loans as soon as their final semester of school, as long as they have a signed employment contract.

Borrowers with an associate's degree or parents with student loans can also refinance with Laurel Road, though there are additional eligibility requirements they must meet. Those unsure of their options can schedule a free consultation with a student loan specialist to create a more personalized plan. The lender offers other financial products, including checking and savings accounts, that may provide a discount on your loan rate if you enroll.

Note that, when it comes to student loan refinancing, Laurel Road offers both fixed and variable interest rates and repayment terms that last from 5 to 20 years. Individuals with a bachelor's degree or higher also need a minimum of $5,000 in student loan debt to refinance.

Where Laurel Road stands out

  • Few fees: Laurel Road doesn’t charge any application, origination or disbursement fees if you use the company to refinance existing student loans.
  • Prequalification: You can check to see if you qualify with a soft credit check, which won’t impact your credit score.
  • Expert guidance: You can schedule a free, 30-minute consultation with a student loan specialist to learn more about repayment and refinancing options.

Where Laurel Road falls short

  • Doesn't offer new loans for students: While Laurel Road offers refinancing for existing student loans, new loan applicants who visit the site will be redirected to Sallie Mae.
  • Relatively short grace period: Laurel Road’s six-month grace period pales in comparison to that of some other lenders. Ascent‘s grace period, for instance, stretches from nine to 36 months for some programs.
  • Strict qualification: Laurel Road’s refinancing options for associate degree applicants are stringent. If you’ve already graduated, eligibility is limited to associate degrees in select programs. You must have also worked for at least 12 months in a role related to the field of study of the associate degree program to qualify.

Laurel Road customer service

Laurel Road provides support in the form of student loan specialists, online guides and customer service representatives. Laurel Road's hours of operation are Monday through Friday, 8 a.m. to 8 p.m. ET. You can contact the lender via postal mail, email, phone, chat or by filling out an online form.

Current and past customers who left reviews on Trustpilot reveal some hits and misses from the company when it comes to the quality of its service. While many users claim they received excellent customer service and support, others complain about having trouble accessing their online account management pages.

Overall, Trustpilot users gave Laurel Road an average star rating of 2.9 out of 5 stars across more than 602 user reviews. 

How this lender compares

logo
Rating: 4.6 stars out of 5
4.6
Bankrate Score
APR from
4.99% to 8.90% Fixed; 5.29% to 9.20% Variable (with autopay)
Loan Amount
$5,000 to full balance owed
Min Credit Score
Not disclosed
Compare ratesArrow Right Icon
on Bankrate
logo
Rating: 4.4 stars out of 5
4.4
Bankrate Score
APR from
3.47% Fixed; 4.99% Variable (with autopay)
Loan Amount
$1,000 to total cost of attendance
Min Credit Score
650
Read our reviewArrow Right Icon
on Bankrate
logo
Rating: 4.8 stars out of 5
4.8
Bankrate Score
APR from
3.54% Fixed; 4.64% Variable APR
Loan Amount
$1,000* to total cost of attendance (some states require a $5,000 minimum to borrow).
Min Credit Score
640
Read our reviewArrow Right Icon
on Bankrate

Laurel Road vs. Earnest

While its minimum annual percentage rates (APRs) vary slightly from Earnest's, Laurel Road's maximum APRs are much lower than its competitor's. Both lenders offer student loan refinance minimums at $5,000, but Earnest offers a nine-month grace period, three months longer than the industry average. Earnest also offers private student loans, not just refinancing.

Laurel Road is available to contact each weekday from 8 a.m. to 8 p.m. ET, with the lender offering additional ways to get in touch by email or regular mail. Earnest also offers several contact options, but its phone customer service hours are on weekdays from 5 a.m. to 5 p.m. PT.

Laurel Road vs. SoFi

Both Laurel Road and SoFi offer maximum terms up to 20 years for their student loan refinancing product, but SoFi has a lower starting fixed APR at 4.49 percent while Laurel has a lower starting variable APR at 5.29 percent. 

Both lenders provide additional support to borrowers trying to figure out their options — Laurel Road through a free consultation with a student loan expert and SoFi through its endless online resources for student borrowers. Laurel Road also offers special pricing for health professionals, while SoFi awards cash back for good grades.

Do you qualify for a loan with Laurel Road?

Eligibility requirements vary by loan type, but there are some common characteristics to be aware of. You’ll need to be attending or have graduated from a Title IV accredited institution. Graduate and undergraduate students can refinance as soon as their final semester if they have a signed letter of employment or contract.

For parent loan refinancing, the student must have attended a Title IV school but does not need to have graduated. If you’re currently pursuing an associate degree, you may also be eligible to refinance if you meet both of the following criteria:

  • You’re enrolled in the final term of an eligible associate degree program at a Title IV eligible school with an offer of employment in your field of study.
  • You’ve graduated with an associate degree in an eligible health care program and have been employed for at least 12 months in your field of study. Visit Laurel Road’s website for the list of eligible programs.

Loan eligibility will also depend on your credit profile, income and debt-to-income ratio.

How to apply for a loan with Laurel Road

The application process for refinancing your existing undergraduate or graduate loans can be done completely online. Here’s what the application process will look like, according to Laurel Road:

  1. Answer a few questions and authorize a soft credit pull to determine your estimated rates.
  2. Upload the necessary documents to the online dashboard and authorize a hard credit pull. This completes the application, and, if you’re approved, you’ll receive your final rates and terms.
  3. Select your loan type and e-sign the provided documents on the dashboard.
  4. Begin payments in accordance with your repayment schedule.

How Bankrate rates Laurel Road

Overall Score 4.6
Repayment Options 4.6 Laurel Road offers a low minimum loan amount and allows borrowers to refinance their entire loan balance, but doesn't disclose its state availability.
Affordability 5.0 Laurel Road’s rates are low, though it has a short grace period.
Customer Experience 4.2 Customer service hours are fairly standard compared to competitors, but it has a mobile app available and an autopay option.

Methodology

Bankrate's trusted student loans industry expertise

Read our full methodology

48

years in business

15

lenders reviewed

13

loan features weighed

195

data points collected

The Bankrate team uses a 13-point system to evaluate student loan refinance products. This scoring criteria measures how lenders perform across three main categories.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

What customers think

What people across the web are saying about Laurel Road

Consumer sentiment for products offered through Laurel Road is all over the board, at least when you read over online reviews and message boards. Users on Reddit complain about the stringent requirements the lender has for student loan refinancing, and that they had trouble accessing funds kept in some of the lender's bank account options.

Reviews on Trustpilot are mostly positive, and the company has more five-star reviews than any other rating. However, some reviews of Laurel Road focus on the company's banking products specifically, and not on student refinance loans. 

Among the five-star reviews found for Laurel Road, one reviewer said the following about the student loan refinancing process: 

"Laurel Road was efficient, responsive and concerned about customer experience. Laurel Road does what it says it will do."

Trustpilot user Trustpilot user
Posted on Trustpilot

Another reviewer shared the following about her experience:

"My experience is the same as many others indicated in their reviews. They have locked my account. I do not have access to my money. I have made two phone calls, and uploaded a financial document they requested which is none of their business. I still do not have access. This is the worst experience I have ever had with a financial institution."

Trustpilot user
Posted on Trustpilot

Community Laurel Road scores

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