Graduate School Loan from Laurel Road

Updated December 13, 2021
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Check your student loan rates

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Fixed APR
3.1 - 6.92%
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Variable APR
3.25 - 7.08%
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Amount
up to 100%
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Grace period
6
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Degree
Graduate
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Co-signer required
No
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Options

  • Degree:
    Graduate
  • Lender:
    Laurel Road
  • Bank:
    KeyBank
  • Credit Level:
    Fair (580-669)
  • When funds are available:
    4-6 business days.

Fees

  • Origination fee
    No origination fee.
  • Application fee
    No application fees.
  • Early payment fee
    No early payment fees.
  • Late fee
    5%
  • Returned check fees
    $20

Pros & Cons

Pros:
  • Low APRs
  • No prepayment penalties
  • No application or origination fees
  • Autopay discount
Cons:
  • Extra Fees

Variable rates

Loan amountLoan term (months)
36-6036-8436-12036-18036-240
$1,000 - 100% 3.25% - 6.22% 3.45% - 6.33% 3.65% - 6.55% 3.95% - 6.87% 4.25% - 7.08%

Fixed Rates

Loan amountLoan term (months)
36-6036-8436-12036-18036-240
$1,000 - 100% 3.1% - 6.07% 3.3% - 6.17% 3.5% - 6.39% 3.8% - 6.71% 4.1% - 6.92%
* In case of using Autopay service your rate is reduced by 0.25%
View all Rates & Fees

Repayment Options

  • Full deferment: You can defer your interest payments while enrolled in school, in addition to the six-month grace period following graduation or termination of enrollment. Afterward, unpaid accrued interest is added to your loan balance and you will begin making full principal and interest payments.
  • Flat $50 payments: You can make monthly payments of $50 beginning approximately one month after the final loan disbursement date up until completion of the six-month grace period. Afterward, unpaid accrued interest is added to your loan balance and you will begin making full principal and interest payments.
  • Interest-only payment: You can choose to pay only the interest each month while you’re in the deferment period. This is a great way to make a dent in your interest while in school, without having to make the full repayment. Payments begin 1 month after each final loan disbursement date up until completion of the six-month grace period. Afterward, you will begin making full principal and interest payments.
  • Immediate Repayment payment: You can pay the full principal and interest payment every month while you’re in school. This plan is for students who want to begin paying down their student loans while enrolled in school.

Requirements

  • What you need to get approved (Qualifications)
    FICO® score 660 or higher.
  • Requirements Description
    1. Fill out a short application with basic information about your loan, education, and employment.
    2. Upload your supporting documents to Laurel Road’s secure dashboard and authorize a hard credit pull to complete your online application.
    3. Select your loan type and term, and e-sign all necessary disclosures and your promissory note in the Laurel Road dashboard.

Description

  • Laurel Road offers student loan refinancing and graduate school loans.

    Laurel Road provides loans with rates between 3.90% and 7.60% Fixed APR, 3.80% and 7.50% Variable APR (with Autopay). You won’t be charged an application, prepayment or origination fee. Loan terms are available for 5 or 20 years.

    Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.