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 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.
- 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.
Interest rates and benefits listed above only apply to students attending certain eligible institutions. For questions please call our Education Finance Specialists at 1-888-411-0272.
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% - 8.95% (2.70% - 8.71% 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 equirements: 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 Rates²
- 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 received³.
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
-
No cosigner required. However, students are encouraged to apply with a qualified cosigner
to increase chances of receiving the lowest rate possible.
-
Cosigner release option available after 36 consecutive, on-time payments4.
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% - 8.95% (2.70% - 8.71% 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 Interest rates and benefits listed above only apply to students attending certain eligible institutions. For questions please call our Education Finance Specialists at 1-888-411-0272.
³ 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.
4 Subject to terms and conditions. TruFit Student Loan™ borrowers may apply for cosigner release after making their first 36 consecutive payments on-time. Terms and conditions apply, as the student borrower must meet certain credit guidelines and eligibility when they apply for the cosigner release. International borrowers will be eligible to apply for cosigner release if they attain U.S. Citizen or Permanent resident status and meet credit and eligibility guidelines. For the purposes of keeping this benefit, on-time payments are defined as payments received within 15 days of the due date.
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 student loan. You will be presented with an Application Disclosure within the application experience before you accept the terms and conditions of your loan.