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News & Announcements

• COVID-19 Response

  The health and financial well-being of our members and community have remained a top concern amidst the COVID-19 pandemic. If you are currently experiencing an impact to income as a result of COVID-19 and are having difficulty making payments, please contact us at 1-877-292-6845 (TTY: Dial 711) to discuss economic hardship forbearance options that may be available to you. Please note, the Laurel Road COVID-19 Forbearance will no longer be offered after 6/30/21.

  The Federal Government has announced that student loan payments will continue to be paused and interest will continue to be waived for all student loans held by Federal Government Agencies. Unfortunately, this payment suspension and interest waiver does not apply to Laurel Road private educational loans because they are not held by a Federal Government Agency.

• LIBOR Rate

  For variable rate loans issued on the One Month LIBOR rate, the LIBOR is 0.1% effective July 1, 2021.

  For variable rate loans issued on the Three Month LIBOR rate, the LIBOR is 0.16% effective July 1, 2021 - Sept. 30, 2021.

  You may identify which LIBOR is applicable to your loan on the Final Disclosure issued by Laurel Road.

  With any change to the LIBOR rate, variable rate loans will re-amortize and a repayment schedule will be provided that will include your new monthly payment amount, interest rate (margin plus LIBOR), and the effective date of your new monthly payment amount.

  Note: The repayment schedule interest rate does not reflect the Auto Pay discount as payments are not calculated with the discounted interest rate.