Unexpected expenses like books, computers and travel can come up during any semester. A school-certified
private loan, like our Trufit Student Loan®, helps fill the financial gap and picks up where
grants, scholarships and federal loans leave off.
Enjoy the following Features and Benefits:
- Zero Fees.
- 0.50% interest rate reduction for automatic payments from any eligible Citizens Bank account.
- Flexible repayment options including the ability to defer payments until after graduation.
- Convenient disbursements sent directly and electronically to your school.
- Now available! Fixed rate option as low as 6.75%.
- Variable interest rate option as low as one-month LIBOR plus 2.70% ¹.
- Easy qualification² with minimal income requirements.
- Even though a cosigner is not required, students with little or no credit history are encouraged to apply with one to increase their chances of approval.
*Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private loan. View the required application solicitation disclosures information below:
Fixed rate.
Variable rate.
All accounts are subject to individual credit approval.
¹ Interest rates as low as one-month LIBOR plus 2.20% if students take advantage of the 0.50% interest rate reduction benefit for automating payment from any eligible Citizens Bank account. Variable rate, based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of May 1, 2012 the one-month LIBOR rate is 0.24%. Fixed interest rates may vary from 6.75%-12.25% APR based upon applicable terms and presence of a cosigner. The fixed rate is on a ten (10) year repayment term. Subject to additional terms and conditions and rates subject to change at any time. Citizens Bank reserves the right to modify interest rates and loan margins at any time without notice. Such changes will only apply to applications taken after the effective date of change.
² Eligibility requirements: student must be enrolled at least half-time in a
degree-granting program at an eligible institution. They must be a US citizen or
permanent resident, or have a US citizen cosigner. Student must be of legal borrowing
age in their state of residence. International students can apply with a creditworthy
US citizen or permanent resident cosigner.
Interest Rates
- Now available! Fixed rate option as low as 6.75%.
- Variable interest rate option as low as one-month LIBOR plus 2.70%.
- Actual interest rate is based on credit, presence of a cosigner and repayment option chosen.1
- View our APR and repayment examples:
Fixed rate
Variable Rate
- Students are encouraged to apply for a private college loan with a qualified cosigner to increase chances of receiving the lowest rate possible.
Borrowing Limits
- The ability to finance up to the total cost of education minus financial aid received².
Repayment Options
-
With TruFit, students have the flexibility to choose the repayment plan that best meets
their needs. Plus, there's no prepayment penalty.
-
Immediate. Students can make payments while in school.
-
Interest only. Students can make interest-only payments while in school, helping lower total loan debt.
-
Deferred. Students can defer payment on our alternative student loan until 6 months after
graduation, leaving school or when they drop below half-time status.
Disbursement
- Typically sent electronically directly to the school.
Eligibility Requirements
-
Student must be enrolled at least half-time in a degree- granting program at an eligible
institution, a US citizen or permanent resident, or have a US citizen cosigner of
legal borrowing age in their state of residence.
-
International students can apply with a creditworthy US citizen or permanent resident cosigner.
Cosigner Requirements
-
We strongly encourage students with little or no credit history to apply with a qualified cosigner
to increase their chances of being approved. A qualified cosigner can also help the borrower secure
a lower interest rate. Although a cosigner is not required, we strongly recommend applying with one.
-
Cosigner release option available after 36 consecutive, on-time payments³.
*Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private loan. View the required application solicitation disclosures information below:
Fixed rate.
Variable rate.
All accounts are subject to individual credit approval.
¹ Interest rates as low as one-month LIBOR plus 2.20% if students take advantage of the 0.50% interest rate reduction benefit for automating payment from any eligible Citizens Bank account. Variable rate, based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of May 1, 2012 the one-month LIBOR rate is 0.24%. Fixed interest rates may vary from 6.75%-12.25% APR based upon applicable terms and presence of a cosigner. The fixed rate is on a ten (10) year repayment term. Subject to additional terms and conditions and rates subject to change at any time. Citizens Bank reserves the right to modify interest rates and loan margins at any time without notice. Such changes will only apply to applications taken after the effective date of change.
² As determined by your school. Minimum borrowing amount is $1,000. Aggregate is $120,000
(including federal and private loans).
³ Subject to terms and conditions.
STEP 1
Figure out how much you need to borrow beyond grants, scholarships and federal loans.
STEP 2
Make sure you have the following items available so you can easily complete your application:
- Name, address, phone number
- Email address
- Date of birth
- Social security number
- Driver's license number
- Gross monthly household income
- Employer name, phone number and length of employment (if applicable)
- Monthly rent or mortgage payment (if applicable)
- Name of school you plan to attend
- Cost of Attendance and Any Financial Aid Received (see award letter from your school)
- Anticipated graduation date (MM/YYYY)
- Private college loan amount requested
- Loan period (MM/YYYY to MM/YYYY)
- Cosigner name and valid email address (if applicable)
STEP 3
- Complete our online loan application.
*Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private loan. View the required application solicitation disclosures information below:
Fixed rate.
Variable rate.