Citizens Bank Student Loans Review

Rating: 8.7 / 10 (Excellent)
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Citizens Bank is a long-established financial services company headquartered in Providence, Rhode Island. It provides diversified banking products and services to individuals, small businesses, institutions, and large corporations, and is the 22nd largest bank in the USA by total assets. Student loans are available for undergraduate and graduate students, as well as their parents.

How is Citizens Bank rated?


Loan Specifics
Customer Experience
Company Reputation

Overall Rating: 8.7 / 10 (Excellent)

Citizens Bank offers loans for college-related expenses for undergraduate and graduate students as well as parents. It extends multi-year funding and does not charge application, origination, or disbursement fees. However, its advertised interest rates are not as competitive as those offered by other banks, though they may be lowered through the rate discounts the company offers. Unfortunately, its reputation among customers is not very positive, which could make some prospective borrowers look elsewhere for their funding needs.

Citizens Bank Loan Specifics

Loan Specifics - 10 / 10

Citizens Bank offers loans for undergraduate and graduate students. Variable and fixed interest rates are available, and the repayment option selected plays a role in the rate an applicant will receive. There are borrowing limits; for example, undergraduate students cannot have more than $100,000 in Citizens Bank student loan debt. Higher limits apply for graduate, law, business, and medical students, who can receive up to $350,000. Unlike other institutions, Citizens Bank offers multi-year funding, which allows borrowers to get pre-approved for loans for the course of their studies without having to submit paperwork every year. Additionally, the company does not charge application, origination, or disbursement fees.
Loan Types
Minimum Loan Amount
Loan Term
5, 10, and 15 years
Interest Rates
Fixed APR Range
6.29% to 11.91% (immediate repayment), 6.29% to 11.91% (interest-only repayment), and 6.69% to 11.05% (deferred repayment)
Variable APR Range
4.58% to 11.54% (immediate repayment), 4.58% to 11.54% (interest-only repayment), and 6.50% to 10.74% (deferred repayment)
Repayment Options

Citizens Bank Qualifications

Qualifications - 9 / 10

To qualify for a Citizens Bank loan, applicants must have reached the age of majority in their state (18 in most states); otherwise, a cosigner will be required. There is also a list of documents that must be provided for the application, including proof of employment, an award letter from the school, and a reference.
Cosigner Required
Course Load
Citizenship Requirement
U.S. Citizen
Permanent Legal Resident
Non-U.S. Citizen with a Cosigner

Citizens Bank Customer Experience

Customer Experience - 8 / 10

Citizens Bank offers two interest rate reduction discounts, a loyalty discount for having an account with them, and an automatic payment discount for signing up for automatic payment deductions. The discounts add up to a 0.5% reduction in the interest rate. Customer service representatives are available 24/7.
Student Loan Calculator
Online Quotes
Additional Services
24/7 Customer Support
0.25% loyalty discount; 0.25% automatic payment discount

Citizens Bank Company Reputation

Company Reputation - 6 / 10

Citizens Bank is a subsidiary of Citizens Financial Group, which has a D rating on the BBB website. This rating is partly due to unresolved customer complaints, as well as the BBB's evaluation of a pattern of complaints filed against the company for poor customer service. The BBB sent the company a notice about this situation in 2015 and the company responded; however, their rating remains downgraded. More information is available here.

The company was also subjected to government action in 2015 by the Consumer Financial Protection Bureau (CFPB). Nevertheless, this action involved the company's deposit products, not its loan products. More information is included below.
Lender Type
Year Founded
BBB Rating
Number of BBB Positive Reviews
Number of BBB Negative Reviews
Date Collected

Consumer Litigation and Regulatory Actions

In 2015, the Consumer Financial Protection Bureau (CFPB) concluded that Citizens Bank under-credited its customers by approximately $12.3 million by processing deposits in such a way that customers did not have the full amounts deposited available for use.

Company Profile

Full Name
Citizens Bank Student Loans
Company Website
One Citizens Plaza, Providence, RI, 02903

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Top Rated
9.9 / 10
  • Multiple in-school repayment options
  • Check application status online
  • Loan e-signing
  • Free scholarship registration
  • BBB A+ rating