Laurel Road seeks details on federal student loan program part of coronavirus response
March 17, 2020
Laurel Road, the student loan refinancing program endorsed by the ADA, announced March 17 it is working with federal agencies and their servicing partner, MOHELA, to understand the specifics of a federal student loans program the Trump administration announced March 13 in response to the coronavirus disease, known as COVID-19.
According to Laurel Road, it hopes to be able to share more information in the coming days as the federal government releases specifics. President Trump had announced on March 13 that he would waive the interest on all federal student loans amid the coronavirus outbreak as part of a strategy to mitigate the economic impact of COVID-19.
However, for existing student loan holders wondering what to do in the meantime, Laurel Road said they should continue to make payments as they normally would. For dentists experiencing an impact to their income as a result of COVID-19, they may be eligible for a forbearance or an extension.
To inquire about forbearance and hardship relief due to the coronavirus outbreak, contact Laurel Road’s servicing partner, MOHELA, at 1-877-292-6845.
In a message to their customers, Laurel Road said it is closely following the developments from the Centers for Disease Control and Prevention and is taking any precautionary measures needed to keep its community health and safe.
“As one of your trusted financial services providers, we want you to know that the health and safety of our customers, employees and partners is a top priority — and we want to share a few ways we can better serve you in the days ahead,” said Eric Girard, Laurel Road chief operating officer and credit officer, in the message.
Visit Laurel Road’s student loan FAQ page
which it will frequently update with the most current information and guidance.
Through Laurel Road, ADA members receive an extra 0.25% discount on their student loan refinancing rate as long as they maintain their membership. In addition, students going into any one of the advanced dental education programs accredited by the Commission on Dental Accreditation are able to refinance their entire student loan portfolio as soon as they are admitted to a residency program. For more information on Laurel Road and student loan refinancing and current rates, visit LaurelRoad.com/ADA
The ADA has created an informational webpage and handout for dentists on COVID-19 at ADA.org/virus.