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Laurel Road Personal Loan Review

If you wants to finance your dreams but doesn’t know how, read on and find out what Laurel Road Personal Loan.

Laurel Road Personal Loan
Source: Laurel Road Personal Loan

The Laurel Road Personal Loan is ideal for people with good credit standing. This loan is available to borrowers with a credit score of at least 700. This is one of the only loans that offers a low interest rate of 7%. This is a great loan for borrowers who have a large amount of debt to repay.

Also, Laurel Road Personal Loan is not just for people who want to finance the purchase of their first home or a car. It is a loan for health care professionals who need quick funding and are looking for a personal loan to help them get better care.

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What are the benefits of Laurel Road Personal Loan?

Offers discounts when you subscribe to auto-pay. When you sign up for the auto-pay plan of Laurel Road, you’ll save a lot of money. Your monthly payments will also be automatically deducted from your checking account, so you won’t have to worry about missing a payment.

Direct payments to creditors. Direct payments to creditors are a great option if you are looking for a quick and easy way to pay off your debt.

Available all over the country of USA. Is one of the leading personal loan provider in the United States. The loan service will provide you with the money you need to achieve your short-term goals. The company offers flexible payment plans, which you can choose from.

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Source: Laurel Road Personal Loan

Educational loans are available. With the high cost of college, and the high risk of student loans, many parents are understandably hesitant to help their children with the cost of their education. Laurel Road is the solution to this problem by providing a personal loan to students who need help with their education.

Reports to the three major credit bureaus. The Laurel Loan is an option that is a great way to maintain your credit score while taking out a loan because they report the good credit standing you have to Equifax, TransUnion, and Experian. 

Loan Request Requirements

  1. Eligibility: You must be a U.S. citizen or a permanent resident to apply for a College Ave Student Loan. International students can apply with a qualified cosigner who is a U.S. citizen or permanent resident.
  2. Enrollment: You must be enrolled in an eligible degree or certificate program at an accredited institution. Full-time, half-time, and less than half-time students may be eligible.
  3. Creditworthiness: Your creditworthiness will be assessed during the application process. If you have limited or no credit history, having a cosigner with a strong credit profile can increase your chances of approval.
  4. Satisfactory Academic Progress: You must maintain satisfactory academic progress as defined by your school to remain eligible for the loan.
  5. Age: You must be at least 18 years old to apply.
  6. Loan Amount: Determine the amount you need to borrow for educational expenses. College Ave offers both undergraduate and graduate student loans with various repayment options.

How to Apply for a College Ave Student Loan

  1. Gather Required Information: Collect your personal and financial information, including your Social Security Number, income details, and school information.
  2. Explore Loan Options: Visit the College Ave Student Loans website and use their loan calculator to estimate your loan amount and monthly payments. Choose the loan that best fits your needs.
  3. Start the Application: Begin the online application process on the College Ave website. You can create an account or log in if you already have one.
  4. Complete the Application: Fill out the application form with accurate information. If you have a cosigner, they will need to provide their information as well.
  5. Review and Sign: Carefully review the terms and conditions of the loan. If you agree, electronically sign the application.
  6. Credit Check: College Ave will perform a credit check to assess your creditworthiness. If needed, your cosigner’s credit will also be evaluated.
  7. Approval and Disbursement: Once your application is approved, College Ave will work with your school to disburse the funds directly to them.
  8. Start Repayment: After graduation or when your grace period ends, you will begin repaying the loan according to the terms you agreed upon during the application process.

FAQs about College Ave Student Loans

What is the interest rate on College Ave Student Loans?

Interest rates on College Ave Student Loans vary depending on the type of loan and your creditworthiness. It’s best to check their website for the most up-to-date information.

Can I apply for a College Ave Student Loan without a cosigner?

Yes, you can apply without a cosigner, but having one with good credit can increase your chances of approval and potentially lead to lower interest rates.

Is there a grace period before I have to start repaying my loan?

Yes, College Ave typically offers a grace period of six months after graduation or when you drop below half-time enrollment before you need to start making payments.

Are there any fees associated with College Ave Student Loans?

College Ave Student Loans do not have origination fees or prepayment penalties. However, make sure to review the loan terms for any other potential fees.

Can I refinance my College Ave Student Loan?

Yes, College Ave offers refinancing options that may allow you to lower your interest rate or change your repayment terms after you graduate and have a steady income.

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Sam Nascimento

Graduated in law Specialist in economics, investment and personal finance. Its focus is to change people's financial lives.