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Citizens Bank Student Loans Reviews: Legit or Scam?

There is a truism that college is hard work but I tell you affording it doesn’t have to be. With Citizens Bank Student Loans application you can get the money you need for college with multi-year approval.

Read on to see detail on citizens’ bank private student loan, citizen bank student loan refinance and bank student loan login.

Interestingly, with Citizen Bank Student Loan, you can save a lot either by refinancing or consolidating each year. For instance, Citizens Bank Refinance Loan enables you to save an average of $3,036 per year.

Lower your interest rate, reduce your monthly payment, fix a variable-rate, even remove a cosigner to gain financial independence and control.

On the other hand, A private Citizens Bank Student Loan lets you choose from competitive fixed and variable rates, and repayment options that give you the freedom to pay back your loan on your schedule.

Wow! that is not all…..

In addition, you can even lower your student loan payments— and your stress level with either citizen bank private student loan or student loan refinance.

Therefore, it is expedient you carefully read this article word to word because I have put down in detail every relevant information you need to know about this Students Loan. And also answers some questions that must be going through your mind now.

This is an opportunity you shouldn’t think of missing. So don’t be in a hurry to close this tab!
Table of Contents Hide
  1. Is Citizens Bank Student Loans Legit or Scam?
  2. Citizens Bank Student Loan Reviews
    1. What student loans does Citizens Bank Cover?
  3. Citizen Bank Graduate Loans
    1. What is the repayment term for Citizens Bank Graduate student loans?
    2. What are the Loan Amounts for Graduate Student loans?
    3. Who is Eligible?
  4. Firstmark Services
  5. What about citizens bank student loan consolidation?
  6. Citizens Bank Refinance Student Loans
    1. Student Loan Refinance Interest Rate
  7. Why Choose Citizens Bank?
    1. What is the repayment term for citizens bank refinance student loans?
    2. What are the Loan Amounts for refinance student loans?
    3. Who is Eligible?
  8. Citizens Bank Private Student Loan
    1. Private Student Loan Interest Rates
    2. What is the repayment term for Private Citizens Bank Student Loans?
    3. What are the Loan Amounts for Citizens Bank Private Student Loan?
    4. Who is Eligible?
  9. How Long to Citizens Bank Student Loans take to Process?
    1. What do I need to apply?
  10. I got a student loan from Citizens Bank. Now what?
  11. Why Citizens One private student loan?
  12. FAQs About Citizens Bank Student Loans Reviews
  13. if i die what happens to my student loans citizens bank?
  14. How long does it take to apply for student loans citizens bank?
  15. How can I pay student loans citizens bank?
  16. How long does a refinanced student loan disbursement take?
  17. What is the student loan rate for citizens bank?
  18. How long does citizen bank student loan process?
  19. How do I get a student loan from citizens bank?
  20. what happens when you refinance your student loans citizens bank?
  21. Who services citizens bank student loans?

Is Citizens Bank Student Loans Legit or Scam?

Just like some people ask whether MygreatLakes.org Student Loan Review is legit or a Scam, they extend this question to Citizen Bank.

With the mouth-watering offers and benefits you can get from this Bank student Loans, many will still wonder if Citizen Bank Student loans are Legit or Scam because it looks too good to be real.

Good news is…..

Citizen Bank Student loans are Legit and not a scam. Interestingly, pick up where you left off. You can access your existing applications, request additional funds, or complete remaining steps in the process.

Interestingly, you can also check out MygreatLakes.org Student Loan Review and apply.

Citizens Bank Student Loan Reviews

Citizens Bank is a traditional bank whose Rhode Island roots go back to 1828. Its national lending division, Citizens One, offers student loans and student loan refinancing. However, visitors will see either “Citizens Bank” or “Citizens One” on the company’s website, depending on where they live.

Moreso, Citizens Bank is a great option for student and parent borrowers in need of private student loans. Also, the company is unique in student lending, as it is the only lender to offer loan approval for over one year.

Furthermore, Citizens Bank is a regional bank with locations in 11 states across the Northeast and Midwest. The states include Delaware, Connecticut, Michigan, Massachusetts, New York, New Hampshire, New Jersey, Rhode Island, Ohio, Pennsylvania, and Vermont.

So, If you live outside these 11 states or in Puerto Rico, you can still get a student loan through Citizens Bank’s national lending division, Citizens One.

The process is the same, but because you’re not eligible for a Citizens Bank account, you won’t be able to take advantage of the bank’s loyalty perks.

What student loans does Citizens Bank Cover?

Citizens Bank offers four types of student loans:

  • Student loans for undergraduates. Borrow up to $90,000 to supplement your federal loans with a fixed- or variable-rate term loan. Students without a credit history need a cosigner.
  • Loans for parents. Pitched as an alternative to the Federal Direct PLUS loan, this loan allows parents to pay for their children’s higher education.
  • Student loans for graduate students. Term loans of up to $295,000 to cover educational costs for graduate degrees that federal loans can’t — like medical residency expenses or bar exam prep courses.

Citizen Bank Graduate Loans

With Citizen Bank Graduate loan you can get an advanced degree without a high degree
of financial worry.

Citizens Bank offers multi-year approval, because we are committed to staying with you all the way through graduation (Bar Study loans are not eligible for multi-year approval).

However, you can get a graduate student loan, Law school student Loans, MBA Student loans, Health Profession Loan, Bar study Loan, and medical residency Loans.

What is the repayment term for Citizens Bank Graduate student loans?

To repay for citizen’s bank Graduate student loans, students are to choose from 5, 10, and 15-year terms. You also get the option to make full or interest-only payments in school or defer payments until after graduation.

Also, you can defer payments for up to 8 years while in school (Note: Interest will accrue during any periods of deferment).

What are the Loan Amounts for Graduate Student loans?

You may borrow up to the maximum qualifying loan amount or the total cost of education, whichever is lower. Their student loan has lifetime aggregate limits (including both federal and private loan debt) of:

  • Minimum: $1,000
  • Graduate Degrees: $150,000
  • MBA and Law: $225,000
  • Healthcare: $180,000 or $350,000 depending on your degree

Who is Eligible?

To apply for Graduate Student Loan, you must be:

  • U.S. citizens or permanent residents. International students can apply with a creditworthy U.S. citizen or permanent resident cosigner.
  • Enrolled at least half time in a degree-granting program at an eligible institution
  • Have good credit or have a qualified cosigner3
  • 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 cosigner will be required
  • Have no prior student loan defaults

Firstmark Services

It is important to note that, Firstmark Services is a trusted partner, selected by Citizens Bank for servicing your loan, and is your primary point of contact for all items regarding your loan.

Furthermore, they provide responsive, seamless, and personalized solutions. Our process for providing client solutions begins with active listening.

A collaborative approach enables them to work with their clients to find answers that make sense for their unique loan products, markets, and institutional goals.

AT FIRSTMARK SERVICES:

  • They are dedicated to preserving client assets by providing expertise rooted in sound practice.
  • They navigate complex regulations based on solid experience in compliance and risk management.
  • Value customers, expect their needs, and exceed their expectations.
  • Provide scalability, efficiency, consistency in service delivery, and flexibility in their platforms.
  • And also, design their products and services specifically to meet the needs of consumer loan borrowers and the lenders who serve them.

What about citizens bank student loan consolidation?

Citizen Bank student loan consolidation simply combines your outstanding loans into one loan. The interest rate is based on the weighted average of the rates on the loans you merge. However, this simplifies repayment.

Note, it doesn’t necessarily help when you’re interested in reducing student loan payments.

Now, when you choose student loan consolidation with a private lender, you may be eligible for a lower rate based on your credit score, plus receive the benefit of combining your loans into one easy-to-manage monthly payment.

Moreso, You could even combine federal and private student loans in your new loan as long as you’re comfortable exchanging the benefits of the existing loans. 

Citizens Bank Refinance Student Loans

With Citizens Bank Student Loan Refinance you can free yourself from costly student loan debt.

Moreso, this student loan gives you the opportunity to save an average of $3,036 per year by refinancing and merging all your private and government, and undergraduate and graduate loans, into one affordable loan.

However, it Lowers your interest rate, reduces your monthly payment, fixes a variable-rate, even removes a cosigner to gain financial independence and control.

Student Loan Refinance Interest Rate

Fixed Rates

Your interest rate will remain constant over the life of your loan and your monthly payment amount will remain the same.

3.45% – 9.49% APR

Variable Rates

Get a potentially lower rate and lower monthly payments. The interest rate will fluctuate monthly, and therefore, your monthly payment amount will vary over time.

2.15% – 9.29% APR

Now it might interest you to know that you can still pay off your loan with a scholarship. To achieve that, check out these 21 Full Scholarships To Pay Off Student Loans.

Why Choose Citizens Bank?

Choosing Citizens Bank Student Loan Refinance is not a bad idea at you because apart from the Loan you, it offers you the opportunity to get the following:

  • Lower Rate: You get Discounts of up to 0.50%3, With their competitive fixed and variable rates, you could save an average of $253 each month or $3,036 annually. You can also fix a variable-rate loan to get predictable monthly payments and peace of mind.
  • Lower Payments: You get to make Payments on your terms of 5, 7, 10, 15 or 20 years, you may lower your monthly payments, giving you more room in your budget.
  • Time savings and convenience: A single payment Combine all your federal and private loans and undergraduate and graduate loans into one loan, allowing you to make one low monthly payment to one lender.

What is the repayment term for citizens bank refinance student loans?

To repay for citizen’s bank refinance student loans, students are to choose from 5, 7, 10, 15 and 20-year repayment periods, depending on your budget. Now after making 36 consecutive on-time payments of principal and interest, a borrower may apply to release the cosigner from their Loan.

What are the Loan Amounts for refinance student loans?

  • Minimum: $10,000
  • Maximum: $300,000 (Bachelor’s degree or below) and $500,000 (Graduate degree)

Who is Eligible?

To apply for Student Loan Refinance, You must be:

  • At least $10,000 in student loans to refinance
  • Permanent residents or US citizens with a valid U.S. Social Security Number.
  • Have an Associate’s degree or with no degree must have made at least 12 qualifying payments after leaving school
  • No longer be in school
  • If you have a bachelor’s degree, you must have made at least three full, on-time repayments on your loans
  • Make at least $24,000 a year
  • Have strong credit
  • If you don’t have a bachelor’s degree, you must have made at least 12 full, on-time repayments

Citizens Bank Private Student Loan

With a private Citizens Bank Student Loan, you can choose from competitive fixed and variable rates, and repayment options that give you the freedom to pay back your loan on your schedule.

And also with just one application, you can get the money you need for all your college years.

Private Student Loan Interest Rates

Fixed Rates

Your interest rate will remain constant over the life of your loan and your monthly payment amount will remain the same.

4.72% – 12.04% APR1

Variable Rates

Get a potentially lower rate and lower monthly payments. The interest rate will fluctuate monthly, and therefore, your monthly payment amount will vary over time.

2.90% – 11.01% APR1

What is the repayment term for Private Citizens Bank Student Loans?

Have you ever ask the question of how do I pay back bank student loans? Now to do that, choose from 5, 10, and 15-year terms. You can also get the option to make full or interest-only payments in school, or defer payments until after graduation.

However, you can defer payments for up to 8 years while in school (Note: Interest will accrue during any periods of deferment). View our repayment examples.

What are the Loan Amounts for Citizens Bank Private Student Loan?

You may borrow up to the maximum qualifying loan amount or the total cost of education, whichever is lower. Our student loan has lifetime aggregate limits (including both federal and private loan debt) of:

  • Minimum: $1,000
  • Maximum: $150,000

Who is Eligible?

To apply for Citizens Bank Private Student Loan, there must be:

  • U.S. citizens or permanent residents. International students can apply with a creditworthy U.S. citizen or permanent resident cosigner
  • The student must be enrolled at least half time in a degree-granting program at an eligible institution
  • Have good credit or have a qualified cosigner
  • 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 cosigner will be required
  • No prior student loan defaults

How Long to Citizens Bank Student Loans take to Process?

Do you know that you can apply for the Education Refinance Loan without stress or having to take cumbersome procedures? Interestingly, you can do it in 15 minutes with 3 easy steps.

Time needed: 15 minutes.

3 easy steps to Apply

  1. Complete the online application

    Apply from your computer or mobile device. You also have the option to add a cosigner, which may increase your likelihood of approval, and getting the most favorable rate.

  2. Select your rate and terms

    Choose a fixed or variable rate, the loan term, and how and when you want to repay the money.

  3. Sign and accept.

    You and your cosigner (if applicable) will sign and accept your loan documents electronically.

What do I need to apply?

Have the following information and documents ready before you begin your application:

  • Your Social Security number
  • A recent pay stub or proof of other income (for you or your cosigner)
  • You employer’s contact information and how long you’ve worked there (for you or your cosigner)
  • Your school’s name
  • How much it costs to attend your school
Then….
  • The Financial aid you’ve received
  • Your anticipated graduation date
  • How much you need to borrow
  • A personal reference (for student borrowers only)
  • Your cosigner’s name and email
  • Contact information of someone (not your cosigner) who will have contact with you after graduation

I got a student loan from Citizens Bank. Now what?

Student borrowers have the option of choosing to start full repayments right away, make interest-only repayments or defer repayment until after leaving school. Also, Deferral makes sense for students that are unable to work, though it could make your loan a lot more expensive. Try making interest-only payments at least, if you can afford it.

Moreso, Set up autopay — called “auto-debit” by Citizens Bank — to get 0.25% knocked off your interest rate. Just make sure that your account has enough funds to make each payment to avoid nonsufficient funds fees.

Furthermore, Keeping an eye on your account is vital when dealing with a company that has Citizens Bank’s track record. Document anything suspicious and report it immediately. And don’t forget to follow up on any claims you file.

Why Citizens One private student loan?

This type of private student loan is best for international students and existing Citizens Bank customers.

In a nutshell, It is for students with a qualifying co-signer and those who don’t foresee needing to postpone or lower payments in the future. The company doesn’t offer a generous safety net for struggling borrowers beyond the 12 months of forbearance many lenders provide.

Hence, Citizens One offers multiyear approval for student loans. After freshman year, you can request loans for subsequent school years without you or your co-signer undergoing a hard credit check, which affects your credit. International students cannot receive multiyear approval.

CITIZENS ONE PRIVATE STUDENT LOAN AT A GLANCE

  • No personalized rate estimates via a soft credit check.
  • International students can qualify with a co-signer.
  • Loan qualifies for co-signer release after 36 on-time payments.

HOW CITIZENS ONE COULD IMPROVE

Citizens One could improve its private student loans by offering:

  • More than 12 months of forbearance.
  • Minimum credit score and income requirements.
  • Personalized rate estimates via a soft credit check.

IN-SCHOOL REPAYMENT OPTIONS

  • Immediate: Begin making full monthly payments as soon as the loan is disbursed. This option will save you the most in interest.
  • Interest-only: Make monthly interest payments while you’re in school and during your grace period.
  • Deferred: You won’t be required to make any payments until your grace period ends, but you can choose to make payments if you’d like. Interest will accrue while you’re in school and capitalize, or get added to your principal balance, at the end of your grace period.

POST-SCHOOL REPAYMENT OPTIONS

  • Grace period: 6 months.
  • Academic deferment: Postpone payments if you return to school at least half-time.
  • Military deferment: Postpone payments if you’re on active military duty.
  • Grace period extension: Yes, an additional 6 months.
  • Forbearance: Postpone payments for up to 12 months if you’re experiencing economic hardship.
  • Co-signer release: Yes, after 36 on-time payments.
  • Death or disability discharge: Yes.

REPAYMENT PREFERENCES

  • Allows greater-than-minimum payments via autopay: Yes.
  • Allows biweekly payments via autopay: No.

Note, the Loan amount ranges from $1,000 to $100,000.

Citizens bank student loan phone number

Student Lending Specialists can help you through the process. Contact student lending at 1-888-411-0266.

FAQs About Citizens Bank Student Loans Reviews

if i die what happens to my student loans citizens bank?

If the borrower has diedthe cosigner will be released from future repayment obligations and the remaining loan balance will be forgiven.

How long does it take to apply for student loans citizens bank?

Under some circumstances, a decision on a student loan application can be immediate. If it’s not immediate, it can be within 3-5 business days, though, on average the total time frame from beginning to the end of the application process itself is approximately 2-4 weeks.

How can I pay student loans citizens bank?

You can make your payments over the phone, by calling our customer service number toll free at 1-888-538-7378 and selecting the “Make a Payment” option. You will need a valid checking account to make a payment with this method.

How long does a refinanced student loan disbursement take?

Refinancing loans can take one to two billing cycles, so you should continue making your regularly scheduled payments until you receive your first billing statement from us. 

What is the student loan rate for citizens bank?

Fixed interest rates range from 4.72% – 12.19% (4.72% – 12.04% APR) based on applicable terms, level of degree earned and presence of a cosigner.

How long does citizen bank student loan process?

The process can take 15 to 20 minutes to complete.

How do I get a student loan from citizens bank?

To get a student loan, complete an application you started, cosign for another applicant, or request funds for the upcoming school year. Citizens bring everything you need right to you. For assistance with the online application, call 1-888-411-0266 and speak to a Student Lending Advisor.

what happens when you refinance your student loans citizens bank?

Refinancing student loans could make a big difference in your monthly budget. When you refinance multiple student loans, you combine several payments into one and potentially lower your total monthly payment. You can put the extra monthly cash toward your savings or debt reduction goals

Who services citizens bank student loans?

Citizens Bank Student Loans are been serviced by Firstmark Services.

Sources

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