0.4% Exclusive Rate Reduction
We negotiate student loan rates using collective bargaining.
We built a large member base of students looking to negotiate loan rates, took our group to several lenders, and picked the best offer from 7 different lenders who bid.
The deal is now available to eligible graduate students visiting this site across MBA, JD, Medical, Dental, Engineering, Pharma and Nursing programs. Check your school’s eligibility by clicking the ‘Check Your Rates’ button on this page.
You don’t pay anything to utilize the deal, just click through our link and you’ll have access to our exclusive rates if your program qualifies. It’s that simple. No strings attached.
|5 Year||4.23% - 6.94%|
|7 Year||4.24% - 6.95%|
|10 Year||4.53% - 6.97%|
|15 Year||5.01% - 7.74%|
|20 Year||5.66% - 8.38%|
- Rates include a 0.40% rate discount for LeverEdge members.
- No application or origination fees or prepayment penalties.
- LeverEdge member offer cannot be combined with any other membership or organizational bonuses and discounts.
|Fixed Rate In-School Loan Repayment Example|
|Term||Full Deferral||Minimum Payment||Interest Only||Full Repayment|
|Variable Rate In-School Loan Repayment Example|
|Term||Full Deferral||Minimum Payment||Interest Only||Full Repayment|
Assumptions: All repayment examples assume the student loan borrower is enrolled in an eligible program at an eligible school; the student loan borrower will successfully complete an expected 24-month in-school period followed by a 6-month grace period; a certified loan amount of $10,000 disbursed in two equal $5,000 amounts four months apart; a 0.25% discount for making automatic payments from a bank account during periods where payment is required; and a .40% rate discount for being a LeverEdge member.
Month Installment Payment: This term represents the fully amortizing payment billed monthly to the borrower during the repayment term.
Annual Percentage Rate ("APR"): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.
Interest Rate: A simple annual rate that is applied to an unpaid balance.
Variable Rates: For variable rate loans, the current index rate is 2.49% and may change monthly. The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”). Although changes in the LIBOR index may cause your monthly payment to increase it will never exceed 12% the maximum variable rate for this loan.
Automatic Payment (“AutoPay”) Discount: Following final disbursement during periods where payment is required, the AutoPay discount of 0.25% will apply if the borrower or co-signor chooses to enroll in and successfully makes scheduled payments automatically from a bank account via the Automated Clearing House (“ACH”). The automatic payment discount will be removed if you cease making automatic payments via ACH or if Laurel Road cancels your AutoPay authorization due to returned payments, delinquency, forbearance or otherwise. Discount not available during periods of deferment when no payment is required. The 0.25% AutoPay discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.
Student Repayment Options: Student borrowers can select one of four available Repayment Options that determine the required payment amount, if any, while the student is enrolled. The Repayment Options include: (1) Full Repayment, (2) Interest Only, (3) Flat Payments, and (4) Full Deferral. For loans with multiple disbursements payment is required only after final disbursement when selecting flat, interest only, and immediate repayment options. You can reference our FAQs for more details on each Repayment Option.
We encourage you to learn about features available via student loans from the government. Many LeverEdge Members find that they don't anticipate needing those features. If you are in the same boat, the calculator below helps you estimate your savings if you choose to use the LeverEdge + Laurel Road deal.
Over the Life of the Loan
|Monthly (After School)||$||$|
Assumptions common to both calculations
Assumptions with the Federal Loan Calculation
For the Laurel Road Calculation
Based on the repayment option you select, the interest rate can be further reduced.
Make no payments while in school.
Pay $50 each month while you're in school.
Pay off the interest while you're in school.
Start making principal and interest payments now.
Employment discount available after graduation.
If you successfully graduate from an eligible program at an eligible institution and provide us with acceptable documentation that you have graduated and accepted employment, your interest rate will be reduced by 0.25%. Employment does not need to be in your field of study to qualify. Any rate reduction will be effective only after lender has confirmed and approved eligibility for the rate reduction. If the interest rate is adjusted due to the Employment Discount, your required monthly payment amount will be reduced in the next billing cycle following confirmation of eligibility.
Rate Reduction for Auto-Pay
Laurel Road will reduce the interest rate charged by 0.25% when you have payments due and are enrolled in auto-pay.
If you choose to defer all payments until you are out of school, you will not receive the auto-pay discount until after school.
If you choose any of the other repayments plans, you will receive the auto-pay discount once you have payments due and are enrolled in auto-pay.
Rates shown in the tables and ranges above may include an auto-pay discount.
|0.40% rate reduction for LeverEdge Members|
|0.25% employment discount available after graduation. 2|
|0.25% rate reduction for auto-pay|
|Lower rate options available based on repayment option|
|No application or origination fee|
|No early repayment penalty|
Based on the surveys of LeverEdge Members in the Fall 2019 Student Loan Negotiation Group, we believe that a vast majority of LeverEdge Members meet the eligibility criteria for Laurel Road Student Loans. If you find that you are not eligible, please send an email to Nikhil at firstname.lastname@example.org and we will try our best to help you. For example, if your program is not listed as an eligible program, we may be able to help persuade Laurel Road to add it to the list of eligible programs.
LeverEdge Association is not an advisor
LeverEdge Association's services are only administrative. LeverEdge Association does not endorse or recommend the products of any particular Lender. Except as otherwise provided for your state, LeverEdge Association is not an agent of you or any lender. You should rely on your own judgment in deciding which available loan product, terms and Lender best suit your personal financial requirements.
LeverEdge Association does not discriminate
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The agency that administers compliance with this law varies by lender depending on its lending authority, but may include the Federal Trade Commission, Equal Credit Opportunity, Consumer Response Center, Washington, DC 20580 or at 1-877-FTC-HELP (1-877-382-4357); TDD 1-866-653-4261; or at www.ftc.gov.
LeverEdge Association is not a creditor
LeverEdge Association DOES NOT take mortgage, student loan, or refinance loan applications, originate, service, make loans or credit decisions in connection with loans, nor does LeverEdge Association issue commitments or lock-in agreements. Any loan inquiry you submit is NOT an application for credit. Rather, it is an inquiry to receive conditional loan offers from Lenders. You may have to complete an application with a Lender before they will extend an unconditional offer.
How LeverEdge Association makes money
LeverEdge Association sometimes earns a sales commission or advertising fee when we share a product or service with you and you choose to use the same. Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns. Please do your homework and let us know if you have any questions or concerns.
Other Disclosures (if any)
1 - Checking your rate with Laurel Road only requires a soft credit pull, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score. Additionally, as part of the application process Laurel Road will request and your school must verify enrollment and cost of attendance.
2 - If you successfully graduate from an eligible program at an eligible institution and provide us with acceptable documentation that you have graduated and accepted employment, your interest rate will be reduced by 0.25%. Employment does not need to be in your field of study to qualify. Any rate reduction will be effective only after lender has confirmed and approved eligibility for the rate reduction. If the interest rate is adjusted due to the Employment Discount, your required monthly payment amount will be reduced in the next billing cycle following confirmation of eligibility.
3 - When selecting a fixed, interest only, or an immediate repayment option, payment is required only after the final disbursement for loans with multiple disbursements. Interest that accrues and is unpaid between disbursements and during any deferment period, as applicable (including any interest that accrues in excess of required in-school payments), is capitalized at the beginning of the full repayment period.
4 - This is not a federal student loan. The terms of this product may differ from terms available with a federal student loan. For example, this product does not contain special features such as income-based repayment plans. Also deferment, forbearance options, and loan forgiveness options may differ from those available for federal student loans, and privately-funded student loans are not eligible to be included in a Federal Direct Consolidation Loan. For more information about Federal student loan programs, please visit https://studentloans.gov.