From small-town financing to a national online lending giant, Laurel Road refinances both federal and private student loans and caters to health professionals with a special medical school repayment plan. Parents who have taken out loans for their children can also refinance with Laurel Road.
Compare Laurel Road with the promotions available from SoFi here.
- Update 2/5/2024: The sign-up and referral bonuses updated.
- Update 10/7/2023: The offer is still available, folks!
- Update 7/6/2023: $540 checking offer extended through 1/8/2024.
Laurel Road In A Nutshell
|5, 7, 10, 15 or 20 years
|$5,000 up to your total outstanding loan balance
|Refinance Parents’ PLUS Loan
Laurel Road $100 Sign Up Checking Bonus
- What you’ll get: $100
- Where it’s available: Nationwide
- How to earn it:
- For a limited time, you can earn a $100 bonus when you make qualifying ACH direct deposits totaling $2,500 or more within 60 days of opening your new Laurel Road Loyalty Checking account.
- When it expires: None listed
Waive The Monthly Fee
There are no monthly fees.
- Normal account service charges and miscellaneous charges may apply to the Laurel Road Loyalty Checking, which may reduce earnings.
- Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits.
- Limit one bonus per qualifying account and per individual.
- If you were the primary owner on any Laurel Road checking account within the prior 24 months before opening the new checking account, you are not eligible for the bonus offer.
- The value of the bonus will be reported to the IRS on Form 1099-INT.
- If you close your account within the first 180 days of account opening, you will be charged a $25 account early closure fee.
- Accounts closed at the time of bonus payment are not eligible.
- Offer is subject to cancellation without notice and cannot be combined with any other checking account bonus offer.
- Laurel Road is not responsible for, and will not honor, promotional offers that appear on third-party websites that are not authorized by Laurel Road.
You need to be a nurse to take advantage of this offer. If you’re not a nurse, see the alternative offer below.
Laurel Road Referral Program: Up To $200 Bonus
You can earn up to $400 for each friend you refer when they refinance a student loan, finance a personal loan, or get a credit card.
Referrers must have log in credentials for Laurel Road’s Online Banking in order to participate in the Referral Program. A log in credential is created during the application process for a Laurel Road product or can be created at any time if you have an existing Laurel Road product.
See the Laurel Road referral program page here.
Here are some referral links you can try:
Laurel Road Requirements
To be eligible for student loan refinancing with Laurel Road, you’ll need to:
- Be a United States citizen or permanent resident with a valid I-551 card.
- Be a working professional with a four-year undergraduate or graduate degree from Title IV accredited institutions, a professional with an associate degree in a designated profession, or a parent who took on debt to finance your child’s education.
Laurel Road currently refinances student loans in all 50 states, the District of Columbia and Puerto Rico.
Refinancing your student loans with Laurel Road makes good sense if:
- You’re a medical student in residency or fellowship.
- You’re a parent looking to refinance loans you took out for you child’s education.
- You want flexible terms.
- You want to apply with a cosigner.
It’s always good to explore all your options to find a lender that offers what you’re looking for. Before you settle on Laurel Road, make sure to shop around and compare rates and terms from other lenders.