Last Updated: 04/18/2025
Citizens Bank Student Loan
Unaffiliated
in Private Student Loans from Citizens Bank
Last Updated: 04/18/2025
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Highlights
Fixed APR
4.99% - 14.25%
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Variable APR
4.89% - 14.52%
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Amount Range
$1,000 - $150,000
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Citizens Bank Student Loan Review
Citizens Bank Student Loan is offered by Citizens Bank, a bank founded in 1828 and based in Providence, RI. Citizens Bank Student Loan are available in 50 states and Washington, DC.
Citizens Bank Student Loan FAQ
What rates does Citizens Bank Student Loan offer for in-school private student loan?
Citizens Bank Student Loan has a variable APR that ranges from 4.89% up to 14.52% .
It offers a fixed APR that ranges from 4.99% up to 14.25% .
Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.
How much can you borrow from Citizens Bank Student Loan?
Available loan amounts may vary by applicant but Citizens Bank Student Loan has a minimum loan amount of $1K and offers loans up to $150K.
Does Citizens Bank Student Loan charge an origination fee?
No, Citizens Bank Student Loan does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does Citizens Bank Student Loan charge prepayment fees?
No, Citizens Bank Student Loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
What terms does Citizens Bank Student Loan offer?
Citizens Bank Student Loan provides repayment terms ranging from 5 to 15 years.
What type of borrowers will Citizens Bank Student Loan consider?
Citizens Bank Student Loan considers loans applications from:
What do you need to qualify for Citizens Bank Student Loan?
Citizens Bank Student Loan does not require or does not disclose a credit score minimum. Citizens Bank Student Loan does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Citizens Bank Student Loan. An uncommon feature is for lenders to offer their services to non-residents. Citizens Bank is one of the few that does.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of citizenship or residence permit
- Proof of residence
- References
Is Citizens Bank a legit company?
Citizens Bank was founded in 1828, it is a well-established company that has been in business for 198 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
Citizens Bank Student Loan Disclosure: "Lowest rates shown are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice."
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Message from our editor
What do we love about the Citizens Bank Loans?
First and foremost, the application process to refinance a student loan at Citizens Bank is straightforward. The company offers a wide selection of financing options, such as variable and fixed interest rates. Citizens Bank also offers autopay discounts, forbearance, and cosigner release options.
What could the Citizens Bank do better?
Citizens Bank’s eligibility and credit score requirements are tough. In fact, if you want to refinance your loan, you will need more than just an average credit score and income. As a reputable refinancing and lending institute, it would be great for students to apply for a loan with a credit score below 680.
Citizens Bank can also help out individuals to choose between variable and fixed interest rates. And that’s because there is usually a high probability of increased interest rates that can harm your debt repayment options in the future.
The backstory of Citizens Bank
Since its foundation in 1828, Citizen Bank continues to be one of the most prominent and biggest financial institutions in the States. The company first started to offer its first student refinancing loan back in 2014. Citizens Bank claims that its customers, on average, save more than $1,500 a year year through its refinancing options. Over the years, the bank has managed to extend its operations in 1,200 branches with more than $151 billion assets.
The Verdict
The rules of refinancing have always been simple; the higher the income, the better the chances of approval. And if you’re looking for the most secure and reliable student loan refinancing option, Citizens Bank should be on your list of considerations.
Unlike other traditional banks, Citizens Bank offers competitive features without high cost-structure. However, keep an eye on the changing features, rates, and eligibility requirements set forth by the Citizen Bank before and during the application process.