For years Darien Rowayton Bank as been a leading lender in the world of student loan refinancing and consolidation. Today they unveiled a rebranding effort, advertising their student loan services under the name of “Laurel Road”.
[Further Reading: Student Loan Sherpa Reviews Laurel Road]
Why the Change?
Darien Rowayton Bank is a bit of a mouthful. Shortening the name to DRB certainly helped things, but this change appears to be more than just a name change.
Looking at the old DRB student loan site and comparing it to the new Laurel Road site, the appearance is significantly different. Where the old DRB site looks like a conservative banking website, Laurel Road is more millennial friendly and clearly built to compete with the likes of SoFi and CommonBond.
What does this mean for me?
If you are in the market for student loan refinancing, there really isn’t much of a difference.
While this change may appear to be a big one on the surface, it really doesn’t change anything from a consumer perspective. Darien Rowayton Bank is still the bank behind the lending, their website just has a different name. The terms and conditions of the loans remain unchanged.
Perhaps the most significant aspect of this change is the fact that DRB is clearly putting some serious resources into this rebranding effort. This dedication to making their student loan services more competitive could mean more approvals at better interest rates for borrowers.