Student Borrowing
Trufit Student Loan®
A flexible, affordable borrowing option.
Choose interest rate and repayment terms that work for you
Applicants eligible for a choice of fixed and variable interest rates as low as 2.69% APR1
No application, origination or disbursement fees
For a limited time, lower your interest rate by up to 0.75 percentage points with available discounts2
Flexible repayment options (see examples )
Save up to 0.75 percentage points off your interest rate2
Apply now through August 31, 2013
The details
Fees
No application, origination or disbursement fees
Interest Rate Options
Eligible applicants may choose:
A fixed rate as low as 5.75%1 or
A variable interest rate as low as one-month LIBOR 1
Actual interest rate is based on credit, presence of a co-signer and repayment option chosen.1
View interest rate and repayment examples .
Students are encouraged to apply for a private student loan with a qualified co-signer to increase chances of receiving the lowest rate possible.
Money Saving Benefits
Complete your TruFit Student Loan Application between May 23 and August 31, 2013, and automatically get a 0.25 percentage point interest rate reduction for the life of the loan, just like our Citizens Bank employees.2
Two other ways to save:
You will be eligible for a 0.25 percentage point interest rate reduction on a new TruFit Student Loan if you or your co-signer (if applicable) has a TruFit Student Loan or qualifying account in existence with us at the time your loan is approved.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 0.75 percentage points on your loan.
Borrowing Limits
Depending on your education level, the borrowing limits vary. The lifetime aggregate amount of your TruFit Student Loans plus federal and other private student loans cannot exceed:
For Undergraduates:
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 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 loan 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 TruFit 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 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.
Co-signers can now start the 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 online TruFit Student Loan application. You can even e-sign. 4
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.
Co-signers can now start the loan application online. And after 36 consecutive on-time principal and interest payments, a co-signer may apply for release from the loan.3
Name, address, phone number, email address
Date of birth
Social Security Number
Driver's license number
Gross monthly household income (borrower and co-signer)
Employer name, phone number and length of employment (if applicable)
Monthly rent or mortgage payment (if applicable)
Name of school you plan to attend
School's Department of Education code
Cost of attendance and any financial aid received (see award letter from your school)
Anticipated graduation date (MM/YYYY)
Loan amount requested
Loan period (MM/YYYY to MM/YYYY)
Co-signer name and valid email address (if applicable)
Save up to 0.75 percentage points off your interest rate2
Apply now through August 31, 2013
FAQs about the TruFit Student Loan
No. Private student loan borrowers DO NOT need to submit a FAFSA. Simply complete the online TruFit Student Loan application to apply.
You may borrow up to the maximum qualified loan amount or the total cost of education, whichever is lower. The TruFit 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 Yes. Our TruFit 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 certification.
To apply for the TruFit Student Loan, 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
Driver’s license number
Gross monthly household income (borrower and co-signer)
Employer name, phone number and length of employment (if applicable)
Monthly rent or mortgage payment (if applicable)
Name of school you plan to attend
School’s Department of Education code
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)
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 receiving the lowest rate possible.
The TruFit Student Loan has no origination, application or disbursement fees.
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.
If you apply for a private student loan on your own, without a co-signer, and are denied, it's probably 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, and re-apply.
There's no prepayment penalty.
Any other questions about TruFit Student Loans?
Please speak with one of our Student Loan Specialists at 1-800-708-6684.
Save up to 0.75 percentage points off your interest rate2
Apply now through August 31, 2013
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Student Borrowing
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