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 automating payments from any eligible Citizens Bank
account or, 0.25% interest rate reduction for automating payments from any eligible
non-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 5.75%¹.
- Variable interest rate option as low as one-month LIBOR plus 2.50%¹.
- Easy qualification² with minimal income 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.
All accounts are subject to individual credit approval.
¹ Interest rates as low as one-month LIBOR (London Inter-bank Offer Rate) plus 2.00% if borrowers take advantage of the 0.50% interest rate reduction for automating payments from any eligible Citizens Bank account. Alternatively, borrowers may receive a 0.25% interest rate reduction for automating payments from any non-Citizens Bank account. Borrowers must reside in the following state in order to open eligible Citizens Bank account: CT, DE, MA, NH, NJ, NY, OH, IL, MI, PA, RI, VT. 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, 2013, the one-month LIBOR rate is 0.20%. Variable interest rates range from 2.70% - 9.45% (2.70% - 9.21% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate and may vary based on applicable terms and presence of a co-signer. Fixed interest rates range from 5.75% - 11.75% (5.75% - 11.51% APR) based on applicable terms and presence of a co-signer. 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. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for the private student loan. You will be presented with an Application Disclosure within the application process before you accept the terms and conditions of your loan.
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 5.75%¹.
- Variable interest rate option as low as one-month
LIBOR plus 2.50%¹.
- Actual interest rate is based on credit, presence of a cosigner and repayment option
chosen.1
- View our APR and
repayment examples.
- 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.
All accounts are subject to individual credit approval.
¹ Interest rates as low as one-month LIBOR (London Inter-bank Offer Rate) plus 2.00% if borrowers take advantage of the 0.50% interest rate reduction for automating payments from any eligible Citizens Bank account. Alternatively, borrowers may receive a 0.25% interest rate reduction for automating payments from any non-Citizens Bank account. Borrowers must reside in the following state in order to open eligible Citizens Bank account: CT, DE, MA, NH, NJ, NY, OH, IL, MI, PA, RI, VT. 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, 2013, the one-month LIBOR rate is 0.20%. Variable interest rates range from 2.70% - 9.45% (2.70% - 9.21% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate and may vary based on applicable terms and presence of a co-signer. Fixed interest rates range from 5.75% - 11.75% (5.75% - 11.51% APR) based on applicable terms and presence of a co-signer. 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. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for the private student loan. You will be presented with an Application Disclosure within the application process before you accept the terms and conditions of your loan.
² As determined by your school. Minimum borrowing amount is $1,000. The TruFit
Student Loan has lifetime aggregate limits (including both federal and private loan
debt) of: Undergraduate: $120,000 Graduate: $150,000 Business and Law: $175,000
Medical: $225,000.
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.