Laurel Road: 2018 rates offer student loan refinancing savings

By | January 17, 2018

ADA members refinancing their student loans through Laurel Road may save more money with new rates that went into effect in the new year.

The new rates for fixed terms are as low as: 3.50 percent, five years; 3.95 percent, seven years; 4.50 percent, 10 years; 4.99 percent, 15 years; and 5.15 percent, 20 years.

New rates for variable terms are as low as: 2.99 percent, five years; 3.12 percent, seven years; 3.65 percent, 10 years; 3.99 percent, 15 years; and 4.20 percent, 30 years.

Laurel Road is the student loan refinancing program endorsed by the ADA. Some of the new rates may offer an opportunity for additional savings for ADA members, especially when combined with the exclusive 0.25 percent ADA discount that members receive through the collaboration, according to Laurel Road.

ADA members receive the extra discount on their student loan refinancing rate as long as they maintain their membership. On average, ADA Members save about $33,000 over the life of their loans by refinancing with Laurel Road.

When it comes to managing school debt, Laurel Road recommends dentists take a strategic approach, including identifying financial goals and picking a student loan repayment plan that helps meet them.  When choosing between a federal plan and a private refinance, dentists should ask questions such as, “Am I confident in my ability to consistently repay my student loans?” and “Do I anticipate having an outstanding student loan balance in 10, 15, or 20 years?”  Refinancing is a great option to maximize your savings by reducing your interest rate and lowering the amount of interest paid over the life of the loan, according to Laurel Road.

In addition, the ADA announced in 2017 that students going into any one of the nine ADA-recognized specialties and general practice residencies are able to refinance their entire student loan portfolio as soon as they are matched to a residency program. For ADA members who qualify and regardless of how much is refinanced, their payment will be only $100 per month throughout training. Rates for the Resident Student Loan Refinancing program range from 4.48 percent to 6.95 percent, including an extra discount for those that set up autopay.

For more information on Laurel Road and student loan refinancing, visit For information on ADA debt resources, visit

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