The realities of college are officially setting in. It might feel like you need to be a financial expert to figure out how to pay for college. But you don't need to know it all, you just need to know someone who's been there. And Citizens has. We've spent over 40 years helping families say "yes" to their dream schools — and yours is next.
Accepted
They got in! Time to start exploring your financial options.
Get Prepared
Learn more about private student loans so you're ready to apply.
College Bound
Help your student prepare for college and beyond.
Questions on College Finances? We’ve Been There.
When it comes to paying for college, it’s hard to know where to start. We get it, and the Holderness family is living it. That’s why we teamed up to show parents that you don’t need to have it all figured out. You just need advice you can trust. Keep reading for our Guide to Paying for College and learn how to make sense of college financing.
Accepted, now what?
They're in! Now it's time to figure out your college finances. Here are some helpful tips as you start to gather your options.
Do your research
Before you make any big decisions, it's important to understand the different ways to finance college. Let's get started.
Every financial aid offer is different, so it's hard to know just how much you need to finance for college. First, gather "gift aid" like scholarships and grants — you generally don't need to pay them back. Then, explore work study options where students can earn money through a part time job on campus. If those options don't fully cover the cost of college, then you can look for student loans. Learn more about comparing financial aid offers.
TIP: Don't forget indirect expenses! Costs like textbooks, furniture, and club fees can stack up quickly. Easily compare your financial aid offers with the Financial Aid Comparison tool on the Citizens' college planning platform, College Raptor®. Upload your offers for a clear side-by-side analysis.
With so many scholarships available, how do you know which to apply for? Simple steps could go a long way — consider meeting with your student's guidance counselor, contacting the financial aid office at your student's college, or making a list of your student's achievements and interests to help find scholarships.
Start your search with the Scholarship Search Tool from College Raptor®. Once you create a profile, you'll get matched with scholarships your student is eligible for from different institutions and businesses. You might be surprised by how many scholarships are out there!
If financial aid, scholarships, and college savings aren't enough to cover the cost of college, private student loans could help close the gap. Applications are credit-based and you could increase your chances of approval by applying with a qualified cosigner. As you explore your options, make sure you consider federal loans before looking into private student loans. You'll also want to compare things like interest rates, repayment terms, and lender credibility. Get all the info you need to know about private student vs federal loans.
Need help picking repayment options or want to understand the cost of loans over time? Use the Citizens Student Loan Calculator to see what your budget may look like after graduation and how different loans could affect your finances.
Get Prepared
Private student loans could help close the gap in your college finances. We're here to walk you through what you need to know and how to apply.
To complete a student loan application, private lenders often require information like:
- Contact info for the borrower and cosigner, should you choose to add one.
- Proof of income, like a recent pay stub and employer info.
- Name of school your student plans to attend and expected graduation date.
- Cost of Attendance and financial aid received (you can find these on the financial aid offer from your school).
- Your anticipated loan period and loan amount needed. That's typically the Cost of Attendance, minus financial aid and other scholarships, savings, or income you or your student plan to put towards college.
Depending on the type of loan and the lender, there are a few different options you may be able to choose from.
- Fixed vs variable rates: With fixed rates, your interest rate and monthly payments are locked in for the duration of your loan. With variable rates, your interest rate and monthly payment could fluctuate.
- Repayment terms: Private student loan lenders often give you the option to choose repayment terms like 5, 10, or 15 years.
- Repayment types: Choose between making payments while in school, making interest-only payments while in school, or deferring payments until after your student graduates. By making timely immediate or interest-only payments while your student is in school, it could help to build their credit† and have a positive impact on their life after graduation.
Always read the disclosures provided and make sure you're comfortable with:
- Full cost of the loan
- Interest rate
- Repayment options
- Borrower protections (like deferment)
- Requirements for the cosigner
- Repayment start date
More tips about private student loans
Consider a cosigner
Applying for a student loan with a qualified cosigner could significantly increase your chance of approval and potentially lower your rate.†
Only borrow what you need
Try to make repayment manageable by borrowing the least amount of money possible from private lenders.
Explore repayment options
Making payments (even just on interest) while in school could help keep monthly payments manageable, reduce how much you owe over the life of the loan, and start building your student's credit.†
College Bound
Next semester will be here before you know it. Set your student up for financial success once classes start.
Advice from our team:
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Don't compare yourself to others and trust your gut! Choosing a college can be daunting, but at the end of the day only you know what feels right for YOU!
Emily J.
Citizens colleague and recent college graduate
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Make sure your decision is based on equal parts academic, social and financial fit with the school. In the end, celebrate and be happy with your choice!
Jeff B.
Citizens colleague and parent of incoming college student
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When it came to making the final decision, while cost and financial aid was a major consideration, at the top of our list was a combination of the campus location, safety, culture and environment.
Celeste S.
Citizens colleague and parent of college student
Made Ready for What's Next
We’re here to answer your questions
For 40+ years, Citizens has helped students and families bridge the gap between financial aid and the cost of college. Call 866-999-0077 to connect with a Student Loan Advisor.
Contact Center Hours:
8:00AM-9:00PM ET Monday-Friday
8:30AM-5:00PM ET Saturday
Chat Hours:
8:30AM-5:00PM ET Monday-Friday
© Citizens Financial Group, Inc. All rights reserved. Citizens is a brand name of Citizens Bank, N.A. Member FDIC
College Raptor, Inc. is a wholly owned subsidiary of Citizens Bank, N.A. (Citizens)
† For additional information, please click the † symbols throughout this page to view our student lending disclosures.
^ For additional information, please click the † symbols throughout this page to view our checking disclosures.
* Citizens Scholarship: No purchase necessary. Void where prohibited. The Citizens Scholarship Sweepstakes is open to legal residents of the 50 United States, D.C., and U.S. Territories, who are 18 years of age or older, are students, or prospective students, or parents or legal guardians of students intending to enroll or enrolled at least half-time in an accredited undergraduate/graduate post-secondary institution. To be eligible for a chance to win the Citizens Building the Workforce of the Future Scholarship entrants must be from an underrepresented or a low-income community as described in the Official Rules. Sweepstakes begins at 12:00 AM ET on 4/1/25 and ends at 5:00 PM ET on 3/31/26. Sponsored by Citizens. See Official Rules for details.