All credit products are subject to credit approval
Content provided for informational and educational purposes only and is in no way to be construed as financial, investment, or legal advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal financial issues.
†Actual customer testimony. Customer testimony was voluntarily provided and customer may have received a promotional gift for providing a review.
IMPORTANT INFORMATION: Please note that if you refinance qualifying federal student loans, you will no longer be eligible for certain federal benefits or programs and waive your right to future benefits or programs offered on those loans, which may include, but are not limited to, Public Service Loan Forgiveness, Income-Driven Repayment plans, forbearance, or certain forgiveness options granted to Parent Plus borrowers. Please carefully consider your options when refinancing federal student loans and consult
http://www.studentaid.gov for the most current information.
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For Key Investment Services LLC (KIS) Advisory Accounts, the Advisory Fee shall be set at a maximum annual fee 0.95% (95bps) at all portfolio value levels for eligible partner constituents, subject to strategy minimums.
The KIS Program Fee is one part of the Advisory Account “wrap fee.”
Additional information is available in KIS’s Form CRS and Form ADV Part 2A Appendix 1.
Eligibility, pricing, and terms are subject to change and may be discontinued at any time.
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To be eligible for the Key for Doctors program, you must: (1) be a Doctor or Dentist as defined below, (2) complete an introductory call with the Key Doctor Banking & Advisory Group, and (3) have a KeyBank Consumer Checking account that remains open prior to enrollment.
You qualify as a "Doctor" or "Dentist" if you meet one of the following criteria: (A) you are a matriculating medical student, or (B) you hold a valid license and are actively practicing as an intern, resident, fellow, doctor, dentist, clinical professor, researcher, or managing in healthcare administration. Eligible degrees include Doctor of Medicine (M.D.), Doctor of Osteopathic Medicine (D.O.), Doctor of Dental Surgery (D.D.S.), Doctor of Medicine in Dentistry (D.M.D.), Doctor of Pharmacy (Pharm.D), Doctor of Nurse Practice (D.N.P.), Doctor of Nurse Anesthesia Practice (D.N.A.P.), Doctor of Optometry (O.D.), Doctor of Podiatric Medicine (D.P.M.), Doctor of Chiropractic (D.C.), Doctor of Audiology (Aud.D.), Doctor of Speech Language Pathology (S.L.P.-D.), Doctor of Physical Therapy (D.P.T.), Doctor of Occupational Therapy (O.T.D.), Doctor of Psychology (Psy.D.), Doctor of Philosophy (Ph.D.) in clinical psychology or nursing , Doctor of Veterinary Medicine/Veterinary Medicine Doctor (D.V.M./V.M.D.), Doctor of Naturopathic Medicine (N.D.), or any other degree that grants state-regulated clinical healthcare licensure . Retired Doctors or Dentists are also eligible. Additional terms and restrictions may apply.
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Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.
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The 0.25% Member Name rate discount is offered on new student loan refinance applications from active Member Names. The Member Name discount is applied to your monthly payment and will be reflected in your billing statement. The discount will end if the Member Name notifies KeyBank that the borrower is no longer a Member Name. This offer cannot be combined with any other discounts from KeyBank affiliated partners or employers.
Estimated Student Loan Payment Examples
Assumptions: Repayment examples below assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include any discounts.
| Fixed Rate Loans |
| Term |
Interest Rate |
APR |
No. of Payments |
Monthly Payment |
Total Payments |
| 5 Year |
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| 7 Year |
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| 10 Year |
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| 15 Year |
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| 20 Year |
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| Variable Rate Loans |
| Term |
Interest Rate |
APR |
No. of Payments |
Monthly Payment |
Total Payments |
| 5 Year |
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| 7 Year |
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| 10 Year |
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| 15 Year |
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| 20 Year |
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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: The current index for variable rate loans is derived from the 30-day Average Secured Overnight Financing Rate (“SOFR”) and changes in the SOFR index may cause your monthly payment to increase. Although the rate will vary after you are approved, it will never exceed 15.00%. There is no limit on the amount your interest rate can increase at one time. The Index is currently published by the Federal Reserve Bank of New York (“New York Fed”). If the Index is no longer available, it will be replaced by a replacement Index according to the terms of the promissory note.
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Checking your rate for Key Student Loan Refinance 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.
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AutoPay / EFT Discount: If you choose to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the rate will decrease by 0.25% and will increase back if you stop making monthly payments (or we stop accepting) automatically by EFT from your 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.
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After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for forbearance of payments for one or more 3-month time periods (however, a minimum of twelve (12) months are required between any two forbearance periods). Borrowers with a loan term of at least ten (10) years are eligible for up to twelve (12) months of forbearance over the life of the loan; borrowers with a loan term less than ten (10) years are eligible for one (1) month for every year of the loan term (e.g., if a borrower’s loan term is five (5) years they are eligible for up to five (5) months of forbearance over the life of the loan). Borrowers seeking an economic hardship forbearance due to unemployment must have made twelve (12) consecutive monthly payments prior to a forbearance request to be eligible. For any other forbearance due to economic hardship, borrowers must have made nine (9) consecutive monthly payments prior to a forbearance request to be eligible. All requests for forbearance are subject to review, including the review of acceptable documentation (including updating documentation) of the nature and expected duration of the borrower's economic hardship. During any period of forbearance, interest will continue to accrue. Unless otherwise noted, at the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principal amount of the loan.
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Estimated Student Loan Refinance Post-residency Payment Examples
Borrowers employed full time as an intern, resident, fellow, or similar postgraduate trainee at the time of loan disbursement are eligible to make $100 monthly payments throughout their training (“Residency Period”).
These payments may not be enough to cover all of the interest that accrues on the loan. Unpaid accrued interest will be added to the loan principal and monthly payments of principal and interest will begin when the Residency Period ends.
Assumptions: Repayment examples shown below are based on an original loan amount of $100,000 and assume that you make $100 monthly payments during the Residency Period of 36 months before the full repayment term begins. Repayment examples do not include any discounts.
| Fixed Rate Loans |
| Term |
Interest Rate |
APR |
Monthly Payment |
Total Payments |
| 5 years |
|
3.93% - 5.53% |
36 months of $100
60 months of $1,998 - $2,181 |
$123,506 - $134,441 |
| 7 years |
4.35% - 5.85% |
4.26% - 5.68% |
36 months of $100
84 months of $1,514 - $1,656 |
$130,755 - $142,743 |
| 10 years |
4.59% - 6.03% |
4.51% - 5.88% |
36 months of $100
120 months of $1,147 - $1,273 |
$141,188 - $156,336 |
| 15 years |
4.81% - 6.33% |
4.74% - 6.19% |
36 months of $100
180 months of $866 - $994 |
$159,391 - $182,595 |
| 20 years |
4.91% - 6.63% |
4.84% - 6.50% |
36 months of $100
240 months of $728 - $876 |
$178,294 - $213,828 |
| Variable Rate Loans |
| Term |
Interest Rate |
APR |
Monthly Payment |
Total Payments |
| 5 Year |
3.98% - 5.62% |
3.90% - 5.44% |
36 months of $100
60 months of $1,994 - $2,170 |
$123,256 - $133,780 |
| 7 Year |
4.25% - 5.75% |
4.17% - 5.58% |
36 months of $100
84 months of $1,505 - $1,647 |
$129,982 - $141,921 |
| 10 Year |
4.40% - 5.93% |
4.32% - 5.78% |
36 months of $100
120 months of $1,131 - $1,264 |
$139,272 - $155,248 |
| 15 Year |
4.65% - 6.23% |
4.58% - 6.10% |
36 months of $100
180 months of $853 - $986 |
$157,078 - $181,001 |
| 20 Year |
4.90% - 6.53% |
4.83% - 6.40% |
36 months of $100
240 months of $727 - $867 |
$178,100 - $211,642 |
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: The current index for variable rate loans is derived from the 30-day Average Secured Overnight Financing Rate (“SOFR”) and changes in the SOFR index may cause your monthly payment to increase. Although the rate will vary after you are approved, it will never exceed 15.00%. There is no limit on the amount your interest rate can increase at one time. The Index is currently published by the Federal Reserve Bank of New York (“New York Fed”). If the Index is no longer available, it will be replaced by a replacement Index according to the terms of the promissory note.
Banking products and services are provided by KeyBank National Association (KeyBank), Member FDIC. Trust and certain custody and investment management products are provided by KeyBank, a national bank with fiduciary powers. KeyBank is an Equal Housing Lender. All loans provided by KeyBank are subject to underwriting, credit, and collateral approval, in addition to origination or other transaction fees. Financing availability may vary by state. Restrictions may apply NMLS ID 399797.
Key Wealth and Key Doctor Banking & Advisory Group are marketing names for KeyBank and certain affiliates, including Key Investment Services LLC (KIS). Investment products and services are offered through KIS member FINRA/SIPC and SEC-registered investment advisor. KIS offers a broad range of brokerage, investment advisory and other services. Additional information is available in KIS’s Form CRS and Form ADV Part 2A Appendix 1. Insurance products are offered through KeyCorp Insurance Agency USA, Inc. (KIA). KIS and KIA are non-bank affiliates of KeyBank.
Check the background of this firm on FINRA's BrokerCheck.
KeyBank, KIS and KIA are separate entities, and when you buy or sell securities and insurance products you are doing business with KIS and/or KIA, and not KeyBank. Each entity separately supervises the sales and other activities of financial professionals providing access to its products and services. There are important differences between banking, brokerage and investment advisory services, including the type of advice and assistance provided, the fees charged, and the rights and obligations of the parties. It is important to understand the differences, particularly when determining which service or services to select. For more information about these services and their differences, speak with your dedicated team.
Services provided by KeyBank, KIS and/or KIA should not be used in substitution for independent and personal tax advice. KeyBank, KIS and/or KIA do not provide legal advice. Individuals should consult their personal tax and/or legal advisor concerning their particular situation.
Investing involves risk, including potential loss of principal amount invested. There is no guarantee that investment objectives will be achieved. Past performance does not guarantee future results. Asset allocation and diversification do not guarantee returns or protect against losses.
Non-Deposit products are:
NOT FDIC INSURED • NOT BANK GUARANTEED • MAY LOSE VALUE • NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of April 27, 2023. Information and rates are subject to change without notice.
