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View Laurel Road FAQ
Laurel Road is an an FDIC insured bank based in Darien, CT. Laurel Road has already consolidated/refinanced over $1.6 billion in student loans to borrowers in all 50 states. On January 15th, 2018, Darien Rowayton Bank became Laurel Road Bank. For more information on the rebrand visit the Laurel Road FAQ.
In 2015, the President of the ADA, in consultation with the Board of Trustees, appointed a special work group to find a solution to help dental students with the increasing amounts of debt that many students acquire in the process of completing dental school. The group sent an RFP (Request for Proposal) to a number of potential lenders. The group narrowed the responses to 3 finalists and then did significant due diligence on the final selection. The due diligence included reviewing the financial strength of DRB, visiting their headquarters to meet the leadership, reviewing their customer service performance and final contractual negotiations.
No, pre-doctoral dental students are not eligible for the program. Dentists become eligible to apply for loan refinancing once they have graduated, and signed an employment contract. The exception is D4 students who are matched to a residency program with proof of enrollment. Laurel Road offers a loan product for dentists in residency/graduate programs.
Laurel Road has this information outlined. (See FAQ).
These are the typical things you’ll need:
Yes! Starting in September 2016 Laurel Road began offering its student loan rates to Residents and 4th year students. Dental residents/graduate students can secure lower interest rates on their entire student loan portfolio as soon as they’re matched to a residency program. Regardless of how much is refinanced, the payment will be only $100 per month for all of training.
Yes, general practice residents may apply for the resident loans as well as those who are specializing. It is important to note that interest rates may be more favorable once the dentist has a proven income so those in a one-year program should weigh the different options. General dentists may wish to contact Laurel Road to discuss which option is the best for them.
Interest rates are changing regularly based on market conditions and the most current information can be found at LaurelRoad.com/ADA
Laurel Road is the best resource to answer any questions that ADA members may have. Please send any individuals to the following resources:
-Phone number: 855.277.6771