Student Loan Refinancing

With a lower rate or a shorter term, you may be able to save thousands.1 Alumni and their families receive a special 0.25% rate discount.2

Refinancing involves having a new lender pay off federal and private student loans and issuing a new loan at a potentially lower rate.

Our lending partner, Laurel Road, offers:

  • Low rates: Low fixed and variable rates available across different loan periods
  • No application or origination fees. No prepayment penalties
  • Easy online application process: Check rate options in minutes and avoid all that paper
  • Special medical resident and fellow terms: Pay one low monthly payment through residency or fellowship3
  • Autopay discount: Additional 0.25% rate discount when automatic monthly payments are made from a bank account4

All credit products are subject to credit approval. Laurel Road is a brand of KeyBank National Association. All products offered by KeyBank N.A. Member FDIC.
If you are refinancing any federal student loans with Laurel Road, you will no longer be able to take advantage of any federal benefits, including but not limited to: COVID-19 payment relief, Income Based Repayment (IBR), Pay As You Earn (PAYE), or Revised Pay As You Earn (REPAYE), and Public Service Loan Forgiveness (PSLF). For more information about the benefits of these federal programs and other federal student loan programs, please visit

1Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.

2A 0.25% interest rate discount is offered on new student loan refinance applications from an alumni/ae or their family members of a school whose alumni association participates in the Meyer & Associates Alumni Benefits Program. The discount is applied to your monthly payment and will be reflected in your billing statement. The discount will end if the Meyer & Associates notifies Laurel Road that the borrower is no longer a in good standing. This offer cannot be combined with other member or employee discounts. Laurel Road is not affiliated with any school.

3Estimated Student Loan Refinance Post-residency Payment Examples
Borrowers employed full time as an intern, resident, fellow, or similar postgraduate trainee at the time of loan disbursement are eligible to make $100 monthly payments throughout their training (“Residency Period”). These payments may not be enough to cover all of the interest that accrues on the loan. Unpaid accrued interest will be added to the loan principal and monthly payments of principal and interest will begin when the Residency Period ends. Assumptions: Repayment examples shown below are based on an original loan amount of $100,000 and assume that you make $100 monthly payments during the Residency Period of 36 months before the full repayment term begins. Repayment examples do not include any discounts. Click here for resident rates.

4AutoPay/EFT Discount: if the borrower chooses to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the borrower’s bank account. The AutoPay/EFT Discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

5Checking your rate with Laurel Road only requires a soft credit pull, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score.

Frequently Asked Questions

Who can refinance?

U.S. citizens or permanent residents with a valid I-551 form (“permanent green card”) are eligible to refinance student loans with Laurel Road.

  • Working professionals:
    • with four-year undergraduate and/or graduate degrees from Title IV accredited institutions
    • who have an associate degree4 in designated professions
  • Graduate students and undergraduates in the healthcare industry can refinance student loans as early as their final semester of school, provided they have a signed contract or letter of employment.
  • Undergraduates with non-healthcare related degrees can refinance student loans after 12 months of employment following graduation.
  • Medical interns, Residents, and Fellows who have matched.
  • Parents who took out debt to finance their child’s education may also refinance. To be eligible for the Parent Student Loan Refinancing Program, the child must have attended a Title IV School, but does not need to have graduated.

Loan eligibility depends on lending criteria, such as your credit profile, monthly income, and monthly debt payments.

How to refinance your student loans

  • Check rates. A soft credit pull will not affect your credit score.5
  • Apply. Upload your documents to finalize your rates.
  • Comparison shop.
  • If approved, choose your loan and e-sign.

Why refinance?

Refinancing your loan could provide an opportunity to do one or more of the following:

  • Lower your interest rate and save money
  • Pay off student loans faster
  • Lower monthly payments
  • Change from a fixed rate to a variable rate, or vice versa
  • Reduce the number of loans in repayment

If student loan debts are being cancelled by the government, do I still need to refinance?

The Biden administration began a plan in late August, 2022 to assist middle-class and working federal student loan borrowers to pay off their debts, including the cancellation of loans. However, you must be an individual that makes less than $125,000 a year or a head of household/couple making less than $250,000 to be eligible.

In addition, the cancellation only applies to $20,000 of your loan if you are a Pell Grant recipient and $10,000 for a non-Pell Grant recipient, which might just be a small dent in your overall debt. So even if you do qualify for these cancellations, it could still be a wise idea to refinance.





Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance federal and private school loans. Laurel Road also offers a suite of online, seamless, personalized loan options for graduate school loan products, personal loans, and mortgages. In April 2019, Laurel Road became part of KeyBank, one of the nation’s largest bank-based financial services companies and Member FDIC.



If you need a quote or an application or simply have questions, call 800-635-7801, or email Trained customer service representatives will be happy to provide the information you need. And naturally you’ll be under no obligation.

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