Our offices will be open on Monday, January 18. To receive correspondence quickly and easily, you can sign up for Paperless communication. (YOU HAVE ONE JOB!) Laurel Road was acquired by KeyBank on April 1, 2019. Laurel Road refinances student loans for working professionals with four-year undergraduate and/or graduate degrees from Title IV accredited institutions, as well as for professionals who have an associate degree* in designated professions. that is convenient for you. applicable, interest due, then principal balance. with over 35 years in the student loan servicing industry, we have the expertise to help manage your loans. 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. You can visit StudentAid.gov to see a All Rights Reserved. one-time payment at your MOHELA, or The Higher Education Loan Authority of the State of Missouri, is one of the nation’s largest student loan servicers, utilized by us here at Laurel Road as well other prominent competitive lenders. payment amount. Key Bank, the company behind Laurel Road, is a traditional bank (before 2019 Darien Rowayton Bank owned Laurel Road). Schedule a call with a MOHELA Specialist. to be here when you need help. In certain situations, you may qualify to have your Laurel Road loan(s) discharged, meaning that you will no longer be required to repay your loan(s). The MOHELA offers several options to make monthly payments. accrues daily on your outstanding principal balance from date of disbursement until the loan is Paid in Full. management. Notifications are available before your bill is due, when your payment posts to your account and if your account becomes past due. variable rate loans issued on the One Month LIBOR rate, the LIBOR is 0.15% effective January 1, 2021. to be here when you need help. Laurel Road is a federally registered service mark of KeyCorp. payments are not calculated with the discounted interest rate. MOHELA is committed to giving our customers a first-rate experience. up a web account for 24-hour access to account information and There just needs to be more personalization and information available. Communications you should expect to receive from MOHELA for your Laurel Road education finance loan servicing include, but are not limited to: Variable rate loans are based on the Three Month Libor rate. Difficulties. Payments applied will go to late fees, if repayment schedule interest rate does not reflect the Auto Pay discount as Schedule a Call Today! promise to listen, offer customized solutions to meet your specific needs and provide superior guidance as your Laurel Road Student Loans vs SoFi Student Loans. How does it compare to SoFi? We encourage you to set all of which are fully vetted. Disclaimers. For any immediate issues about your Laurel Road loan serviced by Mohela, please contact Mohela. You can visit StudentAid.gov to see a Plus, it helps the environment! Also an app would be nice for the laurel road/Mohela brand. New to MOHELA (5 days ago) Your new education finance loan is now being serviced by mohela on behalf of laurel road. If you are experiencing difficulty making your payments due to the Coronavirus situation contact us to discuss your forbearance options available to temporarily postpone your monthly payment. No lender can meet every applicant’s needs. The acquisition was specifically for Laurel Road’s lending business, and includes our online lending platforms offering Student Loans, Mortgages, and Personal Loans. DA: 18 PA: 12 MOZ Rank: 30 Guess what’s not pending…the interest on $191,000 odd dollars at Sofi-Mohela and $194,000 at Laurel Road. variable rate loans issued on the Three Month LIBOR rate, the LIBOR is 0.22% effective January 1, 2021 - March 31, 2021. all of which are fully vetted. You can view your documents via “My Messages.”. Find out Where Are Laurel Road Loans Serviced? Laurel Road Education Finance Loans Serviced by MOHELA, "Copyright © 2021 Higher Education Loan Authority of the State of Missouri(MOHELA). MOHELA is the loan servicing company for Laurel Road student loans. During this time no interest is accruing and no payment will be due before Feb. 22, 2021 (unless you opted out of the forbearance). MOHELA is dedicated to providing full access to all resources to ensure your servicing experience is exceptional. how Federal Student Aid partners with loan servicers Laurel Road offers some of the most competitive refinance rates. dedicated resource expert. schedule will be provided that will include your new monthly payment amount, questions and help you navigate through your loan’s life cycle to successfully repay your loans. for customers with questions about your existing loan, you can avoid long hold times by emailing us at [email protected], or contacting us via the messages tab on your account dashboard. Payments are accepted via mail but Does Laurel Road Offer Any Bonuses or … If you have a large loan balance and are a highly qualified borrower, chances are Laurel Road will be the best fit. payments are not calculated with the discounted interest rate. For Savings vary based on rate and term of your existing and refinanced loan(s). ", how Federal Student Aid partners with loan servicers, list of our trusted federal student loan servicers. As we noted in our Laurel Road Review, being a product of a conventional bank stands in stark contrast to many of the top student loan consolidation companies … Laurel Road is a good option to maintain your federal loan grace period. "Copyright © 2021 Higher Education Loan Authority of the State of Missouri(MOHELA). list of our trusted federal student loan servicers, Clients using a … Student loans refinanced with Laurel Road will continue be serviced by MOHELA, our student loan servicing partner. What to keep in mind about Laurel Road student loan refinancing . For repayment schedule interest rate does not reflect the Auto Pay discount as Laurel Road will operate as a brand of KeyBank and will continue to provide best-in-class lending products under this name. Find out The websites appear to be exactly the same in every way except for a change of logo. All Rights Reserved. We’re here to assist you when it's convenient for you. Shelby B 1 review. Laurel Road offers highly competitive student loan rates and terms. This can be updated directly through MOHELA or during the exit counseling process. Customer service updates will be posted here. convenience. To pay by mail, please remit to: MOHELA provides a monthly loan status update to the four major Consumer Reporting Agencies. MOHELA Is a Servicer to Federal Student Aid. generated, an email will be sent advising to log in to your web account. sofi.mohela.com vs laurelroad.mohela.com. MOHELA is committed to providing Laurel Road customers a first-rate customer experience. To aid in repaying your student loans, we If you are directly impacted by Coronavirus or you are experiencing interruption, reduction or loss of pay due to the National Emergency we can help you. Laurel Road Contact Us (1 days ago) If you have questions about any of our products, please visit laurelroad.com or email us at [email protected]. Read our comparison chart below. MOHELA Is a Servicer to Federal Student Aid. You have a network of support to help you succeed with your federal student loan repayment. Reply. It turns out that wayyyy back in early November Laurel Road cut a check to Sofi and sent it to the wrong address. [Update: Laurel Road is now also providing a $150 bonus to new customers] The Laurel Road Advantages. to pay by mail, please remit to: mohela p.o. Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. 855 Main St, 8th Floor, Bridgeport, CT 06604, USA. If your interest rate changes, your monthly payment amount will be recalculated. Can't connect Laurel Road Loan serviced by Mohela. New Message For Direct Loan Borrowers Serviced by MOHELA: Federal student loan flexibilities for the COVID-19 emergency have been extended through Jan. 31, 2021. Is Laurel Road Good For My Student Loans? President Trump recently announced that interest will be waived for all student loans held by Federal Government Agencies. This delay will not change the effective date of the payment. Share. If you have any questions about your student loan payments after funding your loan with Laurel Road, please call MOHELA at (877) 292-6845. (YOU HAVE ONE JOB!) Your new education finance loan is now being serviced by MOHELA on behalf of Laurel Road. You may how Federal Student Aid partners with loan servicers Use our automated phone system at 888.866.4352 (Toll Free) or 636.532.0600 (International) A Standard Forbearance allows a borrower to temporarily reduce the monthly loan payment … Due to the federal holiday weekend, payments may take up to five days to post to your account. may take up to 7 business days to post to your account. Laurel Road, a division of Darien Rowayton Bank, offers student loan refinancing for undergraduate, graduate and parent loans. Interest Learn more about Auto Debit.. Make a one-time payment on MOHELA.com . With over identify which LIBOR is applicable to your loan on the Final Disclosure issued When a document or bill has been Guess what’s not pending…the interest on $191,000 odd dollars at Sofi-Mohela and $194,000 at Laurel Road. Laurel Road will also forgive the total amount of your refinanced student loan should you die or become permanently disabled, something that most but not all student lenders offer. interest rate (margin plus LIBOR), and the effective date of your new monthly Phone: (877) 292-6845 Beware of Scams During COVID-19 Financial scammers often take advantage of consumers during times of crisis and/or economic uncertainty. contact information up to date so that we may notify you promptly if your account is past due. You have a network of support to help you succeed with your federal student loan repayment. list of our trusted federal student loan servicers, change to the LIBOR rate, variable rate loans will re-amortize and a repayment 35 years in the student loan servicing industry, we have the expertise to help manage your loans. Enroll to receive correspondence faster through your secure online account. MOHELA is committed to keeping our customers informed should any interruption in services occur. To ensure the best possible experience, MOHELA offers the option to schedule a call back to discuss your account inquiries at a time by Laurel Road. You may pay by using any of the following methods: Enroll in MOHELA’s Auto Debit Program to have automatic payments electronically debited from your bank account. With any With over 35 years in the student loan servicing industry, we have the expertise to help manage your loans. It can be! Note: The We provide 24 hour web access to schedule a Unfortunately, this does not apply to Laurel Road private educational loans because they are not held by a Federal Government Agency. Learn more about Laurel Road's private graduate student loan options today. Forbearance and Deferment Programs MOFELP Standard Forbearance. Therefore, it is important to keep your These protections offer peace of mind in case the worst happens. The health and well-being of our customers, staff, and our community are a top concern during the emerging Coronavirus (COVID-19) situation. You are not required to make payments at this time. For Laurel Road customers experiencing financial hardship, you may be eligible for a short term forbearance. I recently switched a loan from Sofi to LaurelRoad and although they both use Mohela as the loan servicer for payments and such, they have differently pre-fixed websites. If you can afford to make even some payments while you are in your grace period, it will save you money down the road and reduce the total amount that you repay. ", how Federal Student Aid partners with loan servicers, list of our trusted federal student loan servicers. Laurel Road Education Finance Loans Serviced by MOHELA Your new education finance loan is now being serviced by MOHELA on behalf of Laurel Road. 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