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Personal Banking > Student Services > Loan Applications > Undergraduate Loan
 
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Citizens Bank Undergraduate Loan

Interest Rate and Fees
  • Rates as low as LIBOR plus 2.80% (for immediate repayment) or LIBOR plus 2.99% (for deferred repayment) and fees as low as 0%.
Features and Benefits
  • 0.25% interest rate reduction for automatic payment deduction from any bank account.
  • Co-signer release option after 48 consecutive, on-time payments.
  • Payments can be deferred while students are in school.
  • Can be used for past due balances – as long as the balance is being collected by the school and not a collection agency.
Borrowing Limits
  • Minimum: $1,000
  • Maximum: Cost of education less any other financial aid.
Eligibility
  • An undergraduate student 18 years of age or older in a degree or certificate program.
  • Enrolled at least half-time.
  • Attending a TERI-approved school.
  • School certification required.
  • Usually with a qualified U.S. co-signer.
Disbursement
  • Payable to student and school.
Repayment How to Apply

 
 

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© Copyright 2009 Citizens Financial Group. All rights reserved.
Citizens Bank is a brand name of RBS Citizens, N.A. and Citizens Bank of Pennsylvania. Deposit accounts held at RBS Citizens, N.A. and Citizens Bank of Pennsylvania are separately insured.

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All accounts are subject to individual credit approval.

The 0.25% interest rate reduction is available for borrowers who elect to have monthly principal and interest payments transferred electronically from a savings or checking account. The interest rate reduction will begin when automatic principal and interest payments start, and will remain in effect as long as automatic payments continue without interruption. This reduced interest rate will return to contract if automatic payments are cancelled, rejected or returned for any reason. Upon request, borrowers are also entitled to an additional 0.25% interest rate reduction if (1) the first 36 payments of principal and interest are made on-time , and (2) at any time prior to the 36th on-time payment, the borrower who receives the monthly bill elects to have monthly principal and interest payments transferred electronically from a savings or checking account, and continues to make such automatic payments through the 36th payment. The reduced interest rate will not be returned to contract rate, if after receiving the benefit, the borrower discontinues automatic electronic payment. The lender and servicer reserve the right to modify or discontinue borrower benefit programs (other then the co-signer release benefit) at any time without notice.

Co-signers will be eligible for co-signer release upon request if (1) the first 48 payments of principal and interest are paid on time, (2) at any time prior to the 48th on-time payment, the borrower who receives the monthly bill elects to have monthly principal and interest payments transferred electronically from a savings or checking account, and continues to make such automatic payments through the 48th payment, and (3) the borrower meets creditworthiness criteria at the time of the release of the co-signer. the co-signer release is only available for undergraduate, graduate, and MedAdvantage.

The lender for the Citizens Bank Undergraduate Loan is RBS Citizens, N.A., Member FDIC and Equal Opportunity Lender. RBS Citizens, N.A. may sell your student loan to a third party. RBS Citizens, N.A. will only sell your student loan if the third party agrees to honor all of RBS Citizens, N.A.'s promises to you, including all promised benefits that you will receive or might become eligible for during the loan repayment period.