Updated: August 10, 2023

Laurel Road Graduate Student Loan Review

Graduate School Loans

Pricing disclosure
Graduate
Student Loan Rating
4 of 5
Check Rates
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
4.49% - 8.04%
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
3.80% - 7.50%
Repayment Terms
5 years, 7 years, 10 years, 15 years, 20 years
Important Information

Rewards: Graduation & Employment Discount, Autopay Discount

Yearly Borrowing Limit: Up to 100% of your full yearly Cost of Attendance

Overall Borrowing Limits: $5,000 (minimum)

Cosigner Terms: Cosigner is optional, offers Cosigner Release after 36 months of on-time payments

The bottom line:

Laurel Road student loans, offered by KeyBank, are among the most flexible when it comes to applying and repaying. Though they have a high minimum borrowing limit, their interest rates are among the lowest in the market. 

Pros

  • Covers up to the full cost of attendance at your school
  • Offers repayment options under 10 years and of 20 years
  • Offers a 0.25% interest rate discount when you graduate and secure employment

Cons

  • Charges a late fee
  • Has a high borrowing minimum ($5,000)
  • Offers a fixed repayment option, but with a $50 minimum
View full rankings of the best student loans for grad school
KeyBank (Laurel Road) College Ave Earnest
Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
Fixed:
4.49% - 8.04%
Variable:
3.80% - 7.50%
Fixed:
4.07% - 14.49% 1
Variable:
5.59% - 14.49% 1
Fixed:
4.42% - 14.30%
Variable:
5.89% - 15.97%
Loan repayment terms (Years) 5 years, 7 years, 10 years, 15 years, 20 years 5, 8, 10, 15 years Up to 15 years
Cosigner release? Yes, after 36 months on-time principal and interest payments Yes, after 24 months on-time principal and interest payments None
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Laurel Road Graduate School Loans stand out as having some of the most flexible qualification requirements. They don't require you to be enrolled full-time, offered in all 50 states, don't require Satisfactory Academic Progress, and only perform a soft credit inquiry if you want to check your rates before applying. For this reason, we rate them among the best lenders for graduate students.

Their interest rates are also below average when compared to other graduate school lenders. It also helps that Laurel Road offers some neat discounts. One of them is a 0.25% interest rate discount when you graduate and secure a full-time job offer, lessening your future debt load as soon as you finish school.

There are some drawbacks, however, to going with Laurel Road. They require you to borrow at least $5,000, which is higher than usual. If you're late on a payment, be prepared to pay a late fee. And even though they offer a fixed repayment option like other lenders, their fixed payment is a minimum of $50 a month.

KeyBank (Laurel Road) - Private Student Loan Details

Interest Rates, Fees and Terms
  • Credit Check: Soft to check rates, hard to process application
  • Repayment Terms: 5 years, 7 years, 10 years, 15 years, 20 years
  • Minimum Borrowing Limit: $5,000
  • Yearly Borrowing Limit: 100% of Cost of Attendance
  • Aggregate Borrowing Limit: Not specified by lender
  • Application Fee: None
  • Origination Fee: None
  • Prepayment Penalty: None
  • Late Fee: Yes
Requirements to Qualify
  • Minimum Credit Score: Not specified by lender
  • Minimum Annual Income: Not specified by lender
  • Citizenship Restriction: Citizens or Residents
  • Minimum Enrollment Restriction: Half-Time
  • List of States where Loan is Not Available: None
  • Approved Schools Include: Title IV
Repayment Options
  • Immediate Principal and Interest Repayment: Yes
  • Fixed Monthly Repayment: Yes, 50
  • Interest-Only Repayment: Yes
  • Full Deferment: Yes
Repayment Details
  • Length of Grace Period: 6 months
  • Maximum Deferment Period: Not specified by lender
  • Maximum Forbearance Period: 12 months
  • Cosigner Release Option: Yes, after 36 months on-time principal and interest payments
  • Death Discharge: Yes
  • Disability Discharge: Yes
Customer Service
  • US-Based Call Center: Yes
  • Hours of Operation (in addition to weekdays): Evenings
  • Application Timeline: Rate estimate in 5 minutes
Extras
  • Scholarship Search Tool: None
  • Sponsors a Scholarship: Yes
  • Job and Career Assistance: None
  • Financial Literacy Training: Yes
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