How do I apply for Multi-Year Approval?

You donÃ¢â‚¬â„¢t need to apply directly for Multi-Year Approval. When you complete an application for student, parent or graduate loans, we will notify you if you qualify for Multi-Year Approval. When itÃ¢â‚¬â„¢s time to apply for another yearÃ¢â‚¬â„¢s loan, youÃ¢â‚¬â„¢ll experience a short and simple process.

Are there fees associated with Multi-Year Approval?

No, there are no additional fees associated with Multi-Year Approval.

Do I have to do anything to remain qualified?

When it comes time to apply for another loan the borrower must request the additional loans with the same cosigner, attend an eligible school at least half-time, and be working toward the same degree. The borrower and cosigner will need to pass a soft credit review to verify continued eligibility and meet school certification requirements. This is not a hard-credit inquiry so your credit score will not be negatively impacted.

Will I be locked into my Multi-Year Approval Rate?

Approval of future loans and interest rates offered will be based on our credit criteria and interest rates at the time you request subsequent loans. Rates will fluctuate and we canÃ¢â‚¬â„¢t guarantee the same rate you received when you first applied. Aggregate loan amounts apply.

If approved for Multi-Year Approval how much am I pre-qualified for?

You can view your total pre-approved amount by logging into your User Account. Under 'View My Loan Terms' you will see the remaining balance.

Where can I view my Multi-Year Approval and request additional funds?

You can log in to access your existing loan by visiting our student lending page. Select "Request Multi-Year Approved Funds" from the options menu.

Can Multi-Year Approval cover expenses like off-campus rent, books, etc.?

Specific costs such as books and living expenditures, including off campus meals and rent, may also be covered. Your school will ultimately certify the maximum amount that you can borrow each year.

Is Multi-Year Approval a line of credit that I can draw on as needed?

Multi-Year Approval loans are not lines of credit. Each subsequent request for funds is a new loan at prevailing rates when the request is made.

Can Multi-Year Approval funds pay a prior semesterÃ¢â‚¬â„¢s outstanding balance?

This loan can be used for past due tuition as long as the balance is from the past 365 days and the student is either currently enrolled, at least half-time, or recently graduated from that school.

Multi-Year Approval

Instead of going back to square one next year, we keep you moving forward without another application.^†

Simple

There's no separate application for Multi-Year Approval. When you apply for an undergraduate, graduate, or parent loan we'll let you know if you're approved.

No credit impact

After completing your initial application, simply request funds for each school year without the hard credit inquiry or additional documents.^†

Adaptable

Plans change? No pressure. Borrow only the funds you need. If you don't qualify for Multi-Year Approval you may still be eligible for a single-year loan.

Apply with a cosigner^†

Adding a qualified cosigner could increase your likelihood of Multi-Year Approval and getting the most favorable rate - that means lower monthly payments and less interest paid over the life of the loan.

Start Here

With Multi-Year Approval, It’s Easy

From applying to requesting your funds every year, Multi-Year Approval is designed to be convenient for you start to finish.

Get Started

Apply online

Easily apply for an undergraduate, graduate, or parent loan from your computer or mobile device.^†

Select rate and terms

Choose your rate, the loan term, and how and when you want to repay the money.

Submit application

Our Student Lending Advisors will let you know if you qualify for Multi-Year Approval after you submit your loan application.

Sign and accept

You and your cosigner (if applicable) can sign and accept your loan documents electronically.

Year two and beyond

Each additional year that you need loans, simply request additional funds with no hard credit inquiry or additional documents needed.^†

Frequently Asked Questions

Questions relating to Multi-Year Approval.

When it comes time to apply for another loan the borrower must request the additional loans with the same cosigner, attend an eligible school at least half-time, and be working toward the same degree. The borrower and cosigner will need to pass a soft credit review to verify continued eligibility and meet school certification requirements. This is not a hard-credit inquiry so your credit score will not be negatively impacted.

Have more questions? Get more answers in our full FAQs section.

Citizens provides student lending services for US residents in the following United States and U.S. Territories: AL, AK, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY, AS, GU, MP, PR, TT, VI

^† For additional information, please click the ^† symbols throughout this page to view our student lending disclosures.

* Multi-Year Approval: Funds available for future use are subject to a soft credit inquiry at time of your next request to verify continued eligibility. After we make the initial Loan to you, you must continue to meet eligibility criteria to obtain additional funds under the Multi-Year Approval feature. Terms and conditions are outlined in the promissory note. Multi-Year Approval borrowers have a 99% approval rate on future requests for additional funds. The additional funds approval rate is based on the percentage of approved Multi-Year borrowers from Citizens between October 1, 2023 and October 1, 2024. The approval rate represents only borrowers who had previously accepted the Multi-Year Approval offer. Please Note: International students are not eligible for Multi-Year Approval.

Multi-Year Approval

For existing loan customers with Multi-Year Approval, log in and select "Request more funds" from the dashboard.