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Citizens Bank Student Loan Review

Who is a  Citizens Bank Student Loan Good For?

Citizens Bank is a good lender for borrowers who are looking for funding for multiple years of school, since its multiyear approval allows borrowers to get money each year without the need to reapply annually.

Citizens Bank Student Loan Eligibility Requirement

In order to qualify for a Citizens Bank student loan, you must meet the following requirements:

  • Be enrolled in a degree-granting program at an approved school or institution for at least half time.
  • Be a U.S. citizen or a permanent resident (international students can apply with the assistance of a U.S. citizen or a permanent resident co-signer).
  • Have an established credit history, a good credit score or a creditworthy co-signer.
  • Have no prior student loan defaults.
  • Be the age of majority in your state.

If you’re looking to refinance your student loans, you must:

  • Be a U.S. citizen, permanent resident or resident alien with a valid U.S. Social Security number.
  • Have made 12 qualifying payments after leaving school if you have an associate degree or no degree.

Interest Rates and Terms

Citizens Bank offers two discounts: a 0.25 percent discount for signing up for automatic payments and a 0.25 percent discount for having a qualifying Citizens Bank account.


Here are the rate ranges for each loan product at Citizens Bank with the autopay discount included:

Loan productVariable rateFixed rate
Undergraduate student loans1.24% to 10.56% APR4.52% to 11.04% APR
Graduate student loans1.42% to 11.00% APR4.29% to 11.53% APR
Parent student loans2.16% to 7.47% APR4.69% to 7.83% APR
Law school loans1.42% to 9.01% APR4.39% to 9.27% APR
Health professions loans1.42% to 8.23% APR4.29% to 8.49% APR
MBA loans1.42% to 9.01% APR4.39% to 9.27% APR
Bar exam loans4.52% to 9.59% APR7.38% to 12.81% APR
Medical residency loans3.61% to 6.83% APR6.97% to 10.08% APR
Student loan refinancing1.99% to 8.24% APR2.99% to 8.49% APR
Parent loan refinancing1.99% to 5.94% APR2.99% to 6.19% APR


Citizens Bank doesn’t charge any origination, application or disbursement fees for its student loans or parent loans. There’s also no penalty for paying off your loan early. However, your loan may be subject to late fees if you miss a payment.

How to Get a Student Loan

Applying for a student loan, parent loan or refinance loan through Citizens Bank can be completed entirely online. You can apply from a computer or mobile device in 15 minutes.

In order to apply, you’ll need your Social Security number, a recent pay stub, employer information, the school you plan to attend, the cost of attendance and any financial aid received, your anticipated graduation date and co-signer information (if applicable).

Here’s what the process looks like when applying for a loan through Citizens Bank:

  1. Complete the online loan application process via your computer or mobile device. Add co-signer information and wait to see if you’re approved.
  2. If approved, select a fixed or variable rate, the term of your loan and your repayment preference.
  3. Sign and accept documents electronically through the Citizens Bank platform. If you have a co-signer, they can sign electronically as well.