Laurel Road

Laurel Road is a digital banking platform focused on healthcare professionals (doctors, nurses, dentists). Acquired by KeyBank, it specializes in student loan refinancing for doctors, offering specialized rates that recognize their high future income potential despite high current debt.

They also offer high-yield savings, mortgages, and credit cards. It is a legitimate financial partner for medical professionals to save money on debt and bank digitally. Their "Student Loan Cashback" credit card is a unique product in the market.

Frequently Asked Questions

1. Is it only for doctors?

While many products are tailored for healthcare professionals (like special mortgage underwriting), Laurel Road's high-yield savings accounts and personal loans are generally open to the public. However, the best student loan refi rates are for medical degrees.

2. What is the Student Loan Cashback card?

This credit card allows you to redeem 2% cash back towards your student loan with any servicer. It is an innovative way to pay down debt using everyday spending.

3. Is it FDIC insured?

Yes, banking products are provided by KeyBank N.A., Member FDIC. Your deposits are insured up to the standard federal limits.

4. Can I refinance during residency?

Yes, Laurel Road is one of the few lenders that allows residents and fellows to refinance their student loans to a minimal payment (e.g., $100/mo) during their training period.

5. specific fees?

Laurel Road generally has no origination fees or prepayment penalties for student loan refinancing. Their checking accounts also typically have no monthly maintenance fees.