Citizens Bank Student Loan Refinance Review
ConsumersAdvocate.org Rating: 6.8 / 10 (Very good)
Citizen Bank is a nationwide provider of financial and lending services. It offers students a flexible way of financing their education through its student loan and student loan refinancing programs. Citizen Bank also comes with a variety of discount options to help you lower student loan rates.
Citizens Bank places limits to the amount of student loans available for undergraduate and graduate education. This can be a concern for those with universities or colleges who’s Cost of Attendance exceed the loan limits.
- Undergraduate School - $90,000
- Graduate School - $110,000
*** Higher loan limits are available depending on your graduate program.
- 5, 10 and 15 years
- Loan repayment terms are available at 5, 10 and 15 years. 5 year loan terms offer the best rates while longer loan terms gives students lower monthly payments albeit higher interest rates.
Citizens Bank offers both variable and fixed rate student loan programs. Its variable rates come with a “cap” of 18 percent which is an industry standard for student loans.
Save with auto payments
Yes. Save 0.25% of your student loan rates by signing up for automatic payments.
Interest only repayment
Allows you to make interest payments during a set period of time, check for limitations. Comes with a 6 month grace period.
Loan Related Fees
- Origination fees
- Prepayment Penalties
- None. Citizens Bank does not penalize you for paying your student loans early.
Student Loans at Citizens Bank
Citizen Bank makes education more affordable by providing flexible student loan programs and discount options for lowering rates even further. Advantages of Citizen Bank student loans include zero fees and interest only repayment options. Loan limits on both undergraduate and graduate schools can be a deal breaker for students hoping to enroll in colleges or universities which exceed these limits.