Private
Student Loans

Put great rates and flexible terms
to work for you.

Get the private student loan that fits your life

Looking to make financing your education easy and affordable? Ask a Citizen. Our Citizens Bank Student Loan™ is available for undergraduate and graduate students. With an average fee savings of $6041 our student loan is a better alternative to Federal Direct PLUS Loans. Review available discounts and terms below—then start your private student loan application today.

NEW Multi Year Borrowing Option

Qualified borrowers have access to a simplified, streamlined process to request funds in subsequent years. Terms and Conditions apply.2 Applicants who qualify will be presented with the Multi Year Borrowing Option in the application.

Apply Now >

Lower your interest rate by up to .50 percentage points3

Benefits

Fees

  • No application, origination or disbursement fees.
  • No prepayment penalty.

Potential benefits

  • Lower your interest rate by up to 0.50 percentage points with available discounts,3
  • Competitive variable and fixed interest rates

Rate and Repayment Examples >

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, pay interest only, or defer your payment.
  • Choose the time period to repay your loan (5, 10, or 15 year options).

Rate and Repayment Examples >

Our college student loan details

  • 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 apply for a student loan.3
          •  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.3

      All together, you could save up to 0.50 percentage points on your interest rate.3

  • Disbursement

      We'll send your private student 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.

  • Loan Amounts

      Loan Amounts are available from $1,000 to $170,000 depending on your education level.

      Loan Amount Details

  • 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.

      When your loan payments become due, borrowers may apply to release the co-signer from their loan after making 36 consecutive on-time payments of principal and interest.4

  • How to Apply

      Submit the fast, easy Citizens Bank Student Loan application online. You can even e-sign. If you’re applying with a co-signer (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 rate3

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 $6371, 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.

Will this loan application impact my credit score?

The Citizens Bank Student Loan is a credit-based loan which will be seen as an inquiry on the applicant’s credit report.

How often do I need to request funds?

With our new Multi Year Borrowing Option, qualified borrowers can now lock in terms to reserve the loan for multiple years.2 As the only national lender to offer this option, we’re committed to staying with you all the way to graduation day.

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, which is typical for a student. If you are denied, you can add a qualified co-signer to increase your chances of approval and receiving the lowest rate possible.

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

There’s no prepayment penalty.

Read more student loan FAQ

Any other questions about our private student loan?

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

 
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