*IMPORTANT DISCLOSURES
PNC Education Refinance Loan is subject to credit approval. Certain restrictions and conditions apply.
Annual Percentage Rates (APRs): All APRs shown are for applicants with an Undergraduate degree for
loan amounts from $10,000 to $200,000. APRs include a 0.50% interest rate discount for automated
payments and may vary by repayment term and other factors (refer to additional details below). Rates,
maximum loan amounts and repayment terms available may vary by level of degree attained. The 20-
year repayment term is only available for borrowers with an Undergraduate or Graduate degree
borrowing more than $75,000. Rates are effective as of Jan. 1, 2023 and are subject to change at any
time.
Fixed Annual Percentage Rates (APRs) range 4.99% to 9.24% for a 5-year, 6.39% to 10.64 % for a 10-year, 6.49% to 10.74% for a 15-year term and 6.59% to 10.84% for a 20-year term. Fixed rates are based on the creditworthiness of the applicant and cosigner, if any.
Variable Annual Percentage Rates (APRs) range 5.64% to 9.89% for a 5-year, 7.04% to 11.29% for a 10-
year, 7.14% to 11.39% for a 15-year term and 7.24% to 11.49% for a 20-year term. Variable rates are based on the Prime Rate index plus a margin depending on the creditworthiness of the borrower and cosigner, if any. The Prime index, adjusted monthly, is equal to the Prime Rate as published in the “Money Rates” section of The Wall Street Journal ‘(Eastern Edition)’ on the first business day of the immediately preceding calendar month. The Prime index is currently 7.00%. If the index increases or decreases, your rate will increase or decrease accordingly. The rate will not exceed 18%.
The lowest APR is available to well-qualified applicants. Your actual APR will be based on your credit
qualifications, interest rate option, repayment term, level of degree attained and whether you elect
the automated payment feature.
NOTE: The credit score ranges utilized to define “Excellent”, “Good”, “Fair” and “Needs Work” in the
“Credit Score” drop down option are established by Bankrate.Com as a guideline. Standards for rating
credit scores and associated available rates may vary by lender.
Loan Payment Examples: The monthly payment per $10,000 borrowed at a fixed-rate range of 6.39%
APR to 10.64% APR for 10 years means you would make 120 payments that may range from $112.99 to
$135.72. The monthly payment per $10,000 borrowed at a variable-rate range of 7.04% APR to 11.29%
APR for 10 years means you would make 120 payments that may range from $116.31 to $139.40. For
the variable-rate loan, monthly payment may increase or decrease if the interest rate increases or
decreases. Estimated loan payment examples assume 30 days to first payment. Payments vary for other
rates, loan amounts and repayment terms.
Automated Payment Discount: During repayment, an interest rate discount of 0.50% is available for
automated payments. Borrower must be making scheduled payments that include both principal and
interest. The rate discount will be applied at the time automated payment is established. If automated
payment is discontinued at any time, the discount will be removed and the rate will increase by 0.50%.
Maximum loan Amounts:
Vary based on level of degree attained. Available repayment terms and rates may also vary based on
level of degree attained.
▫$10,000–$25,000 – Did Not Graduate
▫$10,000–$75,000 – Associates Degree
▫$10,000–$175,000 – Undergraduate Degree
▫$10,000–$200,000 – Graduate Degree
Cosigner Release: Requires that the borrower has made at least forty-eight (48) consecutive timely
payments of principal and interest with no periods of interruption within that 48-month timeframe. To
qualify, the borrower must submit a request, meet the consecutive timely payment requirements,
provide proof of income and pass a credit check.
Refinancing: Refinancing at a longer repayment term may lower your monthly student loan payments,
but may also increase the total interest paid over the life of the loan. Refinancing at a shorter repayment
term may increase your monthly student loan payments, but may lower the total interest paid over the
life of the loan.
Certain Federal Benefits Will Be Lost or Not Available: If you refinance your federal loans through this
PNC Education Refinance Loan, you will lose or not be able to select other payment plans available to
federal student loan borrowers, such as income-contingent repayment or income-based repayment. In
addition, federal student loans offer deferment, forbearance and loan forgiveness options that may not
be available under a PNC Education Refinance Loan. Please compare your current benefits with this
program to ensure any loss of existing benefits is fully understood.
COVID-19 related update: Please read carefully before applying to refinance your federal student
loans with PNC. PNC encourages customers and prospects with existing federal student loan debt to
carefully consider their options before applying for a refinance loan at PNC. We recommend that you
review and have a clear understanding of the federal emergency relief available and how it may impact
your situation. When you refinance your existing federal student loan debt with PNC, you waive any
current and potential future benefits and protections, if any, and replace those with the benefits of the
PNC Education Refinance Loan.