Student Loan Refinancing
You could save on your student loans by refinancing with AOAExcel® ’s endorsed business partner, Laurel Road.
If it is time to refinance your student loans, talk to the team at Laurel Road. Refinancing might help you consolidate your loans into one, manageable amount with one, potentially lower interest rate. AOA members also receive a 0.25% rate discount*, and there's a quick and easy online application you can fill out to get the process started.
Refinance your student loans in 3 easy steps
Laurel Road specializes in helping doctors of optometry refinance optometry school loans when the time is right. There is no cost to apply and the application process is easy and entirely online. You could discover your rate options online in less than 5 minutes.
Step 1: Check Rate Options
Fill out a short online application. Once you authorize a soft credit pull and assuming you have provided enough information, Laurel Road will provide you with preliminary rates, which are conditional upon further underwriting review and authorize a hard credit pull.
Step 2: Upload documents
Upload the following supporting documents to Laurel Road’s secure dashboard and authorize a hard credit pull to complete your online application. Once Laurel Road has received your application, they will underwrite your loan and provide you with your final rates and loan terms if approved.
Step 3: Choose Loan
Select your loan type and term, and e-sign all necessary disclosures and your promissory note in the Laurel Road dashboard.
Laurel Road will pay off your student loans to your current lenders and provide you with instructions to set up the servicing of your new loan. You'll have the option to set up automatic payments to receive an additional 0.25% rate discount.**
Laurel Road Linked Checking SM
Looking for additional ways to lower your student loan interest rate? When you refinance your student loans with Laurel Road and open a Laurel Road Linked Checking SM account you may qualify for additional rate reductions!
The more you save, the more you could save on your student loans.
Upon opening a Laurel Road Linked Checking SM account, as an AOA member, you will automatically qualify for an introductory 0.25% off your interest rate for the first 3 months (in addition to your AOA discount). After three months with a funded account, your interest rate discount will vary based on your savings account balance - you could lower your student loan refinancing rate by up to 0.55%! 1
AOAExcel Resource Updates - Student Loan Refinancing
Visit the AOAExcel Resource Updates page for additional Student Loan Refinancing resources and columns.
*The 0.25% American Optometric Association (AOA) member interest rate discount is offered for student loan applications from active AOA members. The rate discount will end if AOA notifies Laurel Road that borrower is no longer in good standing. The AOA member interest rate discount cannot be combined with other offers, except any discount for making automatic payments.
**AutoPay/EFT Discount: if the borrower chooses to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the borrower’s bank account. The 0.25% AutoPay/EFT Discount will not reduce the monthly payment;instead, the discount is applied to the principal to help pay the loan down faster.
1The Laurel Road Checking SM discount is available to borrowers who open a Laurel Road Checking SM account simultaneously while refinancing their student loans with Laurel Road. You may also be able to utilize a checking account opened simultaneously with a prior Laurel Road student loan refinance to obtain a discount on your new Laurel Road student loan refinance. Borrowers will receive a 0.25% interest rate discount for their first three monthly billing cycles. Starting with the 4th billing cycle and continuing with each billing cycle thereafter, the interest rate discount applied each billing cycle will be based on the amount deposited via qualifying Automated Clearing House (ACH) transactions into the Laurel Road Checking SM account during the preceding calendar month--0.25% for deposits between $2,500 and $7,499 per month and 0.55% for deposits $7,500 or greater per month. To continue to receive the discount for the 4th billing cycle, you must begin making qualifying ACH deposits to your Laurel Road Checking SM account during the second month after your loan funds. Note that the discount is only available to the primary checking account owner and is not available to a joint checking account owner. If the primary account owner is no longer an owner on the checking account or the account is closed, the discount on their student loan will cease. Discounts subject to change without notice and cannot be combined with the Linked Savings SM discount. Click here for more information on the Laurel Road Checking SM Account.
Young doctors: Find your career fit.
Looking for a new optometric career opportunity? Doctors of optometry, including recent graduates from the class of 2020, can search open positions and connect with employers in the AOAExcel Career Center.
Since 2005, when flooding from Hurricane Katrina devastated New Orleans, Optometry’s Fund for Disaster Relief (OFDR) has awarded more than $1.2 million to doctors of optometry and students impacted by natural disasters to restore patient care. Now, as 2022 winds down, your support of OFDR can ensure it is poised to help doctors sustain care during disasters in 2023.