Citizens Bank Student Loan Review

dots overlay

Citizens Bank

rating: 5
  • The only lender to offer multi-year approval for student loans
  • Very low interest rates and the possibility of reducing them further
  • Flexible repayment schedules for all types of loan

Citizens Bank Student Loans

BEST STUDENT LOANS

It’s hard to say which are the best student loans but Citizens Bank gives everyone else a run for their money. This company offers student loans and parent loans with no application fees, low APR rates, and numerous repayment options.

By Editorial Team | 2nd January 2019

Citizens Bank offers two types of student loan, for students and for parents of students. They immediately stand out from the crowd as they do not have any application or origination fees, and they claim that this results in an average saving of $640 for undergrads and $948 for graduate students, making them possibly the best place for student loans in the country.

Citizens Bank tries to offer the best private student loans, ranging from $1,000 all the way up to $295,000, and there are a number of other benefits available for graduate students, including lower rate options. Citizens Bank offers interest rate discounts for those that already have an account, and there are further ways to reduce the interest rate. Overall, they offer fast and reliable service, and it is worth taking a very close look if you are interested in the best college loans.

The best student loans 2019

In general, Citizens Bank offers two types of student loan, loans for students and loans for parents. Check out any Citizens Bank student loan review online to check out how other customers dealt with picking the type of loan they needed.

For most student loans Citizens Bank aims to help students to start building credit while sharing responsibility with the help of a co-signer. They have interest rates as low as 4.29% APR and they allow you to make full or interest-only payments while studying, or wait until after you have graduated. If you are taking a graduate student loan, you will be eligible for benefits such as increased loan limits by degree, extended deferment dependent on your degree, and lower rate options. They have repayment schedules lasting 5, 10 or 15 years.

The parent loans share many similarities, but also some key difference. The parent or other credit-qualified individual signs for the loans. There are no application fees, and obviously, this helps to reduce the amount of debt faced by the student. They have interest rates starting at 5.27% APR and they require you to make full or interest-only payments while the student is studying. The loan lengths are also shorter, with 5 or 10-year repayment options. Also, if you want your loan refinanced, just contact the company with your proposition – if you Google ‘Citizens Bank refinance reviews’ you’ll see how many happy customers are left in this company’s wake.

Regardless of the type of student loan Citizens Bank is the only lender that offers multi-year approval for student loans, which means less paperwork and less of a negative impact on credit scores. This is how you can tell the average from the best student loan banks around.

ProsCons
Low starting APRsCo-signer usually needed
Multi-year approvalNo unemployment clause in loan conditions
Numerous options for repayment schedules
Benefits for graduate loans
Student Loan Eligibility

You can apply for a Citizens Bank Student Loan if you are a U.S. citizen or permanent resident, or you are an international student with a creditworthy U.S. citizen or permanent resident co-signer. Nearly all the best student loan companies employ the same tactic. You need to be enrolled in at least a half time degree program, and you must have good credit or a qualified co-signer. You must also have reached the age of majority in your state of residence and have no prior student loan defaults.

If you are applying for a Citizens Bank Student Loan for Parents you need to be a U.S. citizen or permanent resident with a valid U.S. social security number. You need to be at least 18 years old and have reached the age of maturity in your state, you must have no prior student loan defaults, and you must be applying on behalf of a student who is enrolled in at least half time degree studies and is a U.S citizen or permanent resident.

Of course, before checking your eligibility, make sure you check the company’s – check out some student loan reviews online to see which company would be a good fit for you. We have no doubt that after reading Citizens Bank reviews, it’s going to be in your top three.  Citizens Bank student loans reviews are almost fully positive just because of this one simple fact.

How do I Apply?

Applying for both types of Citizen Bank student loan is very fast and easy. You can fill out an application online, and even e-sign it so that you do not have to print and post the forms. You will need some basic information to complete the application, such as a pay stub or other proof of income and monthly housing cost. You will also need information about the school including the student’s graduation date, loan period and the loan amount. It will take hardly any time to fill out the form and you will receive an answer very quickly – it’s only a bit harder than just walking into an office and saying ‘pay my loan Citizens Bank’! Check out any student loan review online and you’ll see the application process is really that simple!

Customer Support

The Citizens Bank website dealing with student loans is extremely clear and makes it very easy to find all the information you will need. Most questions are answered on the site, but if you do have more questions, you can contact them by telephone. During the application process, any questions that arise can be dealt with over live online chat. This is a hallmark of only good student loan companies, but it doesn’t end there – you can email Citizens Bank at any time too, or talk to them on Facebook or other social media! When a company is as dedicated as they are, it’s very easy to find them, and that rule certainly appears to matter to Citizens Bank.

Reviewed by
Editorial Team
Our Editorial Team is constantly watching for new and exciting services to report on. They aim to bring balanced, honest reviews to the site to give you the best comparisons and ensure you have the knowledge to choose the product right for you. Read more.
0 thoughts on “Citizens Bank

Leave a Reply

Your email address will not be published. Required fields are marked *. Your comment will have to be approved first and will not appear immediately.