Citizens Bank student loans: 2025 review

New vs. refinance student loans with Citizens Bank

Citizens offers a wide variety of competitive student loan rates, loan amount ranges and terms to tailor a loan you can afford after graduation. The most competitive annual percentage rates (APRs) go to undergrad students for new loans. You can borrow more to refinance any current student loans and spread the payment out for up to 20 years. 

Citizens Bank undergraduate student loans

Citizens Bank offers several undergraduate student loan options with a quick approval process. Students may be eligible for auto payment discounts and even a break on their rate if they need a co-signer. Repayment terms range from five to 15 years. You can repay your loans while in school or wait to start paying after a six-month post-graduation grace period. 

• Full payments in school: If you’re already earning an income or don’t need to borrow much, you can make payments while in school. Your monthly payments will help you build a credit score. 
• Deferment: This option delays any payments until after you graduate. The drawback is you’ll pay more total interest. 
• Interest-only: If you want to start building up your credit history with a lower monthly payment, you can pay just the interest on the amount you borrow. Your full payments with principal won’t start until six months after you graduate. 

Citizens also offers a parent loan program, but its rates are significantly higher than the annual percentage rates (APRs) offered for undergraduate loans. 

Citizens Bank graduate student loans

You’ll pay a slightly higher interest rate for Citizen Bank’s graduate student loans than its undergrad options. The lender’s $225,000 loan limit should give you enough room to cover the cost of your postgraduate education.

Payments can be spread out as long as 15 years, and special programs are available for MBA, law, medical and dental education. MBA and law students can borrow up to to help with the extra cost of their education. Medical and dental students may have access to up to $400,000, depending on their degree. 

Citizen Bank student loan refinancing

One area where Citizens Bank really shines is in its student loan refinance options. Terms can be extended out to 20 years, and it offers refinance programs for students, medical residents, and parents. Both federal and private loans can be combined with a Citizens refinance loan — though refinancing federal loans has drawbacks.

You’ll need a balance of at least $10,000 to qualify and must provide proof you’ve completed your degree. You can choose from five repayment terms, including five-, seven-, 10-, 15- and 20-year options. 

Once you’ve made 36 consecutive payments, you can apply to have a co-signer released from your loan.

Where Citizen Bank stands out

• Multi-year approval program: Citizen offers a multi-year approval option that allows you to get loan approval upfront for all the years you plan to attend school rather than applying yearly for new financing. This option is also available for their parent loans. 
• Robust selection of available loan types: Students pursuing anything from undergraduate education to medical residencies can choose from various terms to fit their budget.
• Multiple refinance options: Citizens is one of few private student loan lenders to offer a wide range of refinance options with more borrowing power than its new loans allow and terms as long as 20 years. 

Where Citizen falls short

• Limited eligibility information: Citizens Bank doesn’t list a required minimum credit score and income on its website.
• Loan amount caps: While some private lenders allow you to finance up to the full cost of your education, you’ll be subject to a cap at Citizens. 
• Co-signer generally required: Although Citizens indicates that a co-signer isn’t required, it also notes that 99 percent of its undergrad borrowers have a co-applicant. 

Citizen Bank customer service

Citizens Bank has a dedicated phone number for student borrowing but doesn’t list hours specifically for that number. General banking customer service is available Monday through Friday from 7 a.m. to 10 p.m. ET, and on weekends from 9 a.m. to 6 p.m. ET.

How this lender compares

Do you qualify for a loan with Citizens Bank?

You’ll need a solid credit history and at least $12,000 in annual income if you want to qualify on your own. Nearly all Citizens Bank undergraduate borrowers need a creditworthy co-signer to get the loan amount they need for their education. 

How to apply for a loan with Citizens Bank

Citizens Bank offers a fully digital loan application program and student loan advising support if needed. The website outlines the following steps to apply for its student loan options:

1. Apply online. You can prequalify with a soft credit check and get a rate quote in minutes. The approval will include whether you qualify for the Multi-Year Approval option. 
2. Choose your options. You’ll receive fixed and variable rate options. Experiment with repayment terms between five and 15 years to see which payment suits you best. If you don’t qualify for enough on your own, add a co-signer.
3. Complete and sign your loan paperwork. The lender may need documents from you or your co-signer. Once you provide them and finalize your loan amount and terms, you can electronically accept your loan and complete the process. 

How Bankrate rates Citizens Bank