- All recognition products are topic to accredit approval 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 https://studentaid.gov.
- Savings vary based on pace and term of your existing and refinance loan ( randomness ). Refinancing to a longer term may lower your monthly payments, but may besides increase the full interest paid over the life sentence of the loanword. Refinancing to a shorter term may increase your monthly payments, but may lower the sum interest paid over the life of the loanword. Review your loan documentation for sum cost of your refinance loanword .
- annual percentage Rates ( APRs ) shown are as of September 23, 2021 and subject to increase without detect. Based on applications between July 2019 to June 2021, approximately 11 % of applicants qualified for our lowest advertised rate. Lowest pace quoted above assumes excellent credit and low debt, house, and alimony expenses relative to income. differently, a higher rate will apply. Rate shown above includes a 0.55 % rebate for having a qualifying target deposit of at least $ 7,500 credited to a Laurel Road Checking account for every statement menstruation of the term of the loan, a 0.25 % rebate for AutoPay, and a loanword with a condition of 60 months. variable APRs are subject to increase after consummation.
The Laurel Road Checking dismiss is available to borrowers who open a Laurel Road Checking account simultaneously while refinancing their scholar loans with Laurel Road. You may besides be able to utilize a check account opened simultaneously with a prior Laurel Road scholar lend refinance to obtain a dismiss on your new Laurel Road scholar lend refinance. Borrowers will receive a 0.25 % interest rate discount rate for their first three monthly placard cycles. Starting with the 4th charge cycle and continuing with each charge bicycle thereafter, the interest rate discount applied each charge cycle will be based on the measure deposited via qualifying Automated Clearing House ( ACH ) transactions into the Laurel Road Checking account during the preceding calendar calendar month — 0.25 % for deposits between $ 2,500 and $ 7,499 per month and 0.55 % for deposits $ 7,500 or greater per month. To continue to receive the deduction for the 4th charge cycle, you must begin making qualifying ACH deposits to your Laurel Road Checking bill during the second gear calendar month after your lend funds. note that the deduction is entirely available to the primary check score owner and is not available to a joint check account owner. If the primary account owner is no longer an owner on the check account or the report is closed, the discount on their scholar lend will cease. Discounts national to change without notice and can not be combined with the Linked Savings deduction. Click here for more information on the Laurel Road Checking account and scholar loanword rate discounts .
- effective February 1, 2022, you must open a Laurel Road Checking account simultaneously while refinancing your scholar loanword with Laurel Road by 06/30/22 at 11:59 post meridiem ( ET ) and make one or more modification send deposits via an Automated Clearing House ( ACH ) transaction into the Laurel Road Checking account totaling at least $ 2,500 within the first 60 days after account orifice to receive the $ 300, which will be deposited into your explanation within 60 days of meet requirements. Click here for current Laurel Road Checking Rates. Normal report serve charges and assorted charges may apply to the Laurel Road Checking, which may reduce earnings. Qualifying ACH calculate deposit transactions include most payroll, Social Security, pension and government benefits deposits. Limit one bonus per qualifying history and per person. The rate of the bonus will be reported to the IRS on Form 1099-INT. If you close your score within the first 180 days of report open, you will be charged a $ 25 account early blockage tip. Accounts overdrawn or closed at the time of bonus payment are not eligible. offer is national to cancellation without comment and can not be combined with any other 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 will earn 2.0 % in Cashback Rewards for each $ 1 spent on eligible Purchases if you redeem your Cashback Rewards towards your student Loan with an eligible servicer. This equates to $ 0.02 in Cashback Rewards, for each $ 1 exhausted. For example, if you spend $ 100, you will earn $ 2.00 in Student Loan Credit. You will earn 1.0 % in Cashback Rewards for each $ 1 spent on eligible Purchases if redeemed for a statement credit. This equates to $ 0.01 in Cashback Rewards, for each $ 1 spend. For exemplar, if you spend $ 100, you will earn $ 1.00 in Cashback Rewards.
Cashback is awarded based on eligible credit card purchases excluding transactions such as cash advances of any type, balance transfers, convenience check transactions, overdraft security transfers and quasi-cash transactions. See Terms & Conditions, which are subject to change .
The creditor and issuer of this credit calling card is KeyBank N.A., pursuant to a license from Mastercard International Incorporated. Mastercard is a cross-file hallmark, and the circles design is a hallmark of Mastercard International Incorporated .
- For more information on eligible servicers please visit our FAQ .
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