PNC Student Loans: 2024 Review

Written by
Hanneh Bareham
Edited by
Rhys Subitch
Updated on November 20, 2023

At a glance

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Check rate with Bankrate
4.3
Bankrate Score
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Repayment Options
4.2
Affordability
4.2
Customer Experience
4.5

About Bankrate Score

Full methodology

PNC offers a robust selection of student loan options for college students and borrowers who want to refinance their existing student loans — even if they don’t have a degree. The lender offers competitive starting annual percentage rates (APRs), including a comparatively autopay discount. PNC also offers a co-signer release after 48 months of on-time payments.

Lender Details

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Loan amount

$1,000 to $225,000

Rates

APR from

6.99% Variable; 5.99% Fixed

Clock Wait

Term lengths

5 to 20 years

PNC Features

PNC doesn’t charge origination or application fees on its student loans. If you enroll in autopay, you can receive a  0.5 percent rate discount. PNC allows you to make interest-only payments while in school to lower your overall borrowing costs. 

PNC: In the details

Loan Amount
Private loans: $1,000 to $225,000 | Refinancing loans: $10,000 to $200,000
APR from
Private loans: 6.14% to 15.64% Variable APR, 4.39% to 13.89% Fixed APR (with autopay) | Refinancing loans: 7.89% to 14.99% Variable APR, 6.99% to 13.94% Fixed APR (with autopay)
Term lengths
5, 10 or 15 years for undergraduate and graduate loans; 5, 10, 15 and 20 years for refinanced loans
Grace period
6 months
Repayment terms
Private loans: 5 to 15 years | Refinancing loans: 5 to 20 years
Loan types
Undergraduate, graduate, health professions, residency, refinancing
Cosigner required?
No

PNC pros and cons

PNC student loans come with many advantages, such as co-signer release after four years of on-time payments, but there are some potential drawbacks to consider.

PROS

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    Co-signer release option

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    Big discount for autopay

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    No degree required to refinance

CONS

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    Lower loan limits

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    No prequalification available

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    Limited loan terms

PNC student loan requirements

Qualification requirements for a student loan from PNC vary slightly by loan type.

Who is this loan good for?

PNC student loans are a good choice for applicants seeking fast approval times. The lender typically notifies you whether your application is approved or denied within a few minutes, according to the lender’s website. 

On the other hand, PNC is not the best option if you’re applying with a co-signer and want the option to release them fast. PNC offers co-signer release after 48 months of consecutive on-time payments, while some other lenders like Sallie Mae offer co-signer release after 12 months of on-time payments.

Interest rates 

PNC offers an autopay discount for every type of student loan it provides. All starting interest rates include the autopay discount.

Loan product Variable rate Fixed rate
Undergraduate loans 8.44% 6.69%
Graduate loans 8.44% 6.69%
PNC Education Refinance Loan 6.99% 5.99%

Fees and penalties

PNC does not charge any application, origination or prepayment fees for its private undergraduate, graduate and professional student loan products. For the refinance loan, it doesn't charge prepayment fees.

Repayment terms and grace periods

PNC’s private student loans come with repayment terms that can last five, 10, or 15 years. Besides that, borrowers can choose between three repayment options: deferred payments while enrolled in school, interest-only payments while in school and immediate repayment.

In the case of deferred payments, the grace period ends six months after you graduate or are no longer in school on at least a half-time basis.

Refinance loans come with repayment terms of five, 10, 15 or 20 years.

How to apply for a loan with PNC

The application for all of PNC's student loan products can be completed online. Before applying, have your school, loan and co-signer information available.

When you are ready head over to the PNC website.

  1. Choose the type of student loan you need to apply for.
  2. Enter information about your school, the amount you need, your citizenship and if you need a co-signer to check your eligibility.
  3. Continue on and enter your personal details, along with those of your co-signer if you're applying with one.
  4. If you're approved for a loan and like the offered terms, you'll sign the loan and accept it.

Customer service

PNC Bank has an A+ rating and is accredited with the Better Business Bureau. This rating takes into account complaints and how PNC Bank handles customer interactions.

To contact PNC, borrowers can call 800-762-1001 between 8 a.m. and 5 p.m. ET, Monday through Friday.  

PNC FAQs

  • At the moment, PNC does not offer student loans for international students. If you’re an international student and need help funding your degree, make sure to contact your school’s financial aid office to see what options are available to you.

How Bankrate rates PNC

Overall Score 4.3
Repayment Options 4.2 While PNC has many types of student loans, its low maximum loan amounts and few repayment options could be limiting for some students.
Affordability 4.2 PNC has low APRs for borrowers with good credit, though it does charge a late fee.
Customer Experience 4.5 PNC’s customer service hours are limited. However, it does have a mobile app for easy loan management.

Methodology

The Bankrate team evaluated over a dozen lenders to select our top picks for the best student loans. To do this, Bankrate considers 14 factors, including loan amounts, fees, repayment terms and options, as well as fixed and variable APR ranges. Then, lenders are rated using our vetting system known as the Bankrate Score, which focuses on three main categories.

  • Availability: We looked at minimum and maximum loan amounts, as well as the lender’s eligibility requirements, co-signer option, degrees covered and state availability. Lenders that offered the most flexibility as well as nationwide servicing and that offered financing for a variety of programs ranked higher in this section.
  • Affordability: Fixed and variable interest rates, fees, penalties and discounts were measured in this category. Lenders with the lowest rates, fewer fees and multiple discounts got the higher scores.
  • Customer experience: Our team looked at the ease of the application process, as well as online account management tools, customer support hours, app availability, repayment options and grace periods offered by the lenders. This allowed us to determine the lenders’ ability to satisfactorily serve customers.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.