Citizens Bank
Student Loan™

Put great rates and flexible terms
to work for you.

Get the private student loan that fits your life

  • Choose a fixed or variable interest rate, with variable rates as low as 2.68% APR1 for eligible applicants
  • Lower your interest rate by up to 0.50 percentage points with available discounts2
  • Enjoy flexible repayment options (repayment examples)
  • No application, origination or disbursement fees
  • Available for graduate students and also includes an option for parents
Apply Now >

Save up to .50 percentage points off your interest rate2

Our college student loan details

  • Fees

      No application, origination or disbursement fees for Citizens Bank Student Loans

  • Interest Rate Options

  • Money Saving Benefits

      Ways to save:

          •   You will be eligible for a 0.25 percentage point interest rate reduction on a new Citizens Bank Student
              Loan if you or your co-signer (if applicable) has a Citizens Bank Student Loan or qualifying account
              in existence with us when you submit a completed application.2
          •  During periods when payments are due, you will be eligible to receive a 0.25 percentage point interest rate
              reduction on your loan by authorizing our loan servicer to automatically deduct your payments each
              month from any bank account you designate.2

      All together, you could save up to 0.50 percentage points on your loan.

  • Borrowing Limits

      Depending on your education level, the borrowing limits vary. The lifetime aggregate amount of your Citizens Bank Student Loans plus federal and other private student loans cannot exceed:

        Total Private and Federal
      Student loan Debt
      Total Citizens Bank
      Student Loan Debt
      Undergraduate $120,000 $90,000
      Graduate $150,000 $110,000
      Business and Law $175,000 $130,000
      Medical and Dental $225,000 $170,000

      Minimum borrowing amount is $1,000.

  • Repayment Options

      Choose the repayment option that best meets your needs. We recommend that you pay off your balances as quickly as possible to reduce the overall cost of your private student loan.

      Pay Immediately: Make principal and interest payments while in school.

      Pay Interest Only: Make interest-only payments while in school. This will reduce the total interest you pay on your loan.

      Deferred Payment: Make no payments until six months after graduation or after you leave school or drop below half-time status.

  • Term Options

      Choose the time period to repay your loan:

      5 year term: Offers lowest rates and lowest total cost of borrowing.

      10 year term: Offers lower rates and moderate savings on total cost of borrowing.

      15 year term: Offers lowest monthly payment.

      No matter which term you choose, you can always make additional payments without penalty. This lets you pay off your student loans faster and saves you money.

  • Disbursement

      We'll send your loan funds directly to the school you're attending.

  • Who's Eligible?

      To qualify for a Citizens Bank Student Loan, you need to:

          •  Be a U.S. citizen or permanent resident
          •  Be enrolled at least half time in a degree-granting program at an eligible institution
          •  Have good credit or have a qualified co-signer
          •  Have attained the age of majority in your state of residence or if you have not met the age of majority in
             your state of residence, a co-signer will be required

      International students can apply for the Citizens Bank Student Loan with a creditworthy U.S. citizen or permanent resident co-signer.

  • Co-signer Requirements

      For students with little or no credit history, we strongly suggest that you apply with a qualified co-signer to increase your chances of being approved. A qualified co-signer may also help you secure a lower interest rate on your private student loan.

      Co-signers can now start the student loan application online.

      After 36 consecutive, on-time principal and interest payments, a co-signer may apply for release from the loan.3

How to apply

Fill out the fast, easy Citizens Bank Student Loan application online. You can even e-sign. If you’re applying with a cosigner (which we recommend to improve your chances of approval and to get the best available rates), he or she can also start the application online.

Things you’ll need for the student loan application

  •  Name, address, phone number, email address
  •  Date of birth
  •  Social Security Number
  •  Recent pay stub (no more than 60 days old) or other proof of income and
     monthly housing payment.
  •  Employer name, phone number and length of employment (if applicable)
  •  Name of school you plan to attend
  •  Cost of attendance and any financial aid received (see award letter from
     your school)
  •  Student’s anticipated graduation date, loan period and loan amount
     needed.
  •  Student borrowers will need to provide a reference.
  •  Co-signer name and valid email address (if applicable)

Apply Now >

Save up to .50 percentage points off your interest rate2

FAQs about the Citizens Bank Student Loan

Do I need to file the Free Application for Federal Student Aid (FAFSA) form to apply for a student loan?

No. Private student loan borrowers DO NOT need to submit a FAFSA. Simply complete the online Citizens Bank Student Loan application to apply.

How much can I borrow with a Citizens Bank Student Loan?

You may borrow up to the maximum qualified loan amount or the total cost of education, whichever is lower. Our student loan does have lifetime aggregate limits (including both federal and private loan debt) of:

  •  Undergraduate: $120,000
  •  Medical: $225,000 (MD, DO, DMD, DDS)
  •  Law: $175,000
  •  MBA: $175,000
  •  Other Graduate Degrees: $150,000

Can a private student loan help pay for my books and my personal expenses while I’m at school?

Yes. Our Citizens Bank Student Loan can be used to help pay for your indirect costs while you are enrolled in school. The maximum you can borrow each year is determined by your individual school through loan certification.

How do I apply for Citizens Bank Student Loans?

All you need to do is fill out the quick and easy online application. Before you apply, 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
  •  Recent pay stub (no more than 60 days old) or other proof of income and
     monthly housing payment.
  •  Employer name, phone number and length of employment (if applicable)
  •  Name of school you plan to attend
  •  Cost of attendance and any financial aid received (see award letter from
     your school)
  •  Student’s anticipated graduation date, loan period and loan amount
     needed.
  •  Student borrowers will need to provide a reference.
  •  Co-signer name and valid email address (if applicable)

Remember, students are encouraged to apply with a qualified co-signer to increase their chances of approval and receiving the lowest rate possible.

If you’re a parent, take a look at our Citizens Bank Student Loan for Parents—with an average fee savings of $627*, it’s a better alternative to the Federal Direct PLUS loan.

Are there any fees for Citizens Bank Student Loans?

The Citizens Bank Student Loan and Citizens Bank Student Loan for Parents have no origination, application, or disbursement fees.

What kind of credit is required for a Citizens Bank Student Loan?

We will need to see a reasonably strong credit history, which is derived from your credit score. If you do not have a sufficient credit history, you should apply with a creditworthy co-signer.

What if I apply and I'm not approved?

If you apply for a private student loan on your own, without a co-signer, and are denied, it may be because you have an insufficient personal credit history, as is typical for a student. You'll simply have to find a qualified co-signer, such as a parent or other guardian.

Are there any penalties for paying off a Citizens Bank Student Loan early?

There’s no prepayment penalty.

Any other questions about our Citizens Bank Student Loan?

We have a team of Education Finance Specialists who are ready to help with all your college student loan needs. Simply call 1-800-708-6684.

 
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