Citizens Bank Student Loans Reviews - What Is It?
DO NOT USE Citizens Bank Student Loans!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!
Not everyone today has enough money to cover their educational costs. One of the ways out is looking into scholarships and grants, but you may need another source of funding too. Private student loans may be of great help, but since there are numerous lenders out there, it can be a difficult task to find the right student loan option. Citizens Bank is one of the most popular private student loan lenders available on the market. Let us take a closer look at this lender to find out whether they can meet your financial needs. Citizens Bank claims to offer flexible terms and competitive rates. It was founded more than 150 years ago and is considered to be one of the oldest and largest financial institutions over there. It offers a lot of different financial products including private student loans.
Taking Citizens Bank Student Loans has certain advantages. For example, it is the only bank with multi-year approval. Other modern banks ask their customers to reapply for money every year, but Citizens Bank allows to apply for 4 years of funding at once. Citizens Bank student loans come with flexible repayment options and competitive interest rates. Besides, none of its loans comes with additional fees. You won't be charged for paying your loan off beforehand. Their loans start at 3.69% APR. As you can see, these loans have a lot of advantages; however, is it a really good option to fund your education? To answer this question, we will have to take a look at more features of the product, as well as at the real customers' reviews found online. What we do like about Citizens Bank is that they can be easily reached during the application or repayment process. You can send your message through your account or call them at 1-888-411-0266. They are also available on Twitter and Facebook.
Customer Reviews - Does Citizens Bank Student Loans Really Work?
Citizens Bank offers funding for the following types of borrowers: graduate students, undergraduates, and parents. You can borrow from $1,000 and more depending on your field of study and educational level. Undergraduates can borrow up to $90,000. Healthcare professionals can borrow $150,000 or $295,000, depending on their degree. Graduate students can borrow up to $110,000. Business and law students can borrow up to $180,000. Parents are allowed to borrow up to these limits to pay for their children's education. It is known that parents can borrow federal Parent PLUS Loans from the Department of Education; however, Citizens Bank has some advantages. They suggest less expensive private loans, since there is no origination fee. In this way, you can save $643 in fees, when compared to PLUS loans. Besides, Citizens Bank sends the funds directly to the school of your choice. The loan can be paid back in the process of studying or after the graduation when the student starts working and earning their own money. You can make interest-only payments while still studying. Citizens Bank student loans may come with a 5-, 10-, or 15-year repayment term. But parent borrowers can only choose from a five- and 10-year repayment term.
There is a great number of real customers' reviews about the service online. Most borrowers are satisfied with the offered loans, terms, application process and customer service. The application process is very fast and easy. To apply for a Citizens Bank student loan, you will need to create an account with a password. Be ready to provide your name, Social date of birth, email and Security number. You will also need to set up some security questions. When applying for a loan, you will need to provide a recent pay stub, your school's information, the amount you pay for housing each month, your employer's information, your prospective graduation date, cost of attendance, financial aid you have got, a personal reference, the desired loan amount and your co-signer's information. If you are approved for a loan, you will need to sign the promissory note, accept the terms of the agreement, and fill out a self-certification form. Your online account will contain all of your loan information. Firstmark Services will manage your loan. Through this program you will be able to check your account information and balance, see your loan details and make a payment. In addition to the opportunity to pay your loan online, you can set up auto-pay. Besides, you can pay by phone or mail.
Citizens Bank customer service is associated with a great number of customer reviews. They are quite mixed. While some users have difficulty reaching customer service, the majority of them state that the customer service department is very responsive and helpful. The specialists are very professional and can take care of any issues. Another benefit is that you can reach the Citizens Bank customer service 24 hours a day, seven days a week. The team of experts are always ready to help you. You can check the bank's website (FAQ section) to get answers to your questions on any student loan. In addition, you can talk to the company's reps in real time through an online live chat available on their site too. Let us take a look at the actual customer reviews available on third-party websites.
"I have just refinanced my Citizens Bank Student Loans. I was approved by Citizens Bank (here in MA) and SoFi. I have to confess that the Citizens rate is better by 0.25%. This lender has made the online process very convenient and easy. I am happy not only with the rate but also with the company's customer service. Be sure to apply for a loan to this lender. I haven't had any negative experience with them at all."
"I am pleased with Citizens Bank Student Loans. Earlier, my wife has taken loans with very high rate (10-15%). This was until we learnt about Citizens Bank. I came across their website while researching available lenders. We feel so grateful to have a 6.3% fixed rate instead of 15%. Thank you so much for your service! This lender is certainly the best. Citizen's bank is a real blessing to our family. Thanks for your efforts, Citizens Bank!"
"Citizens Bank Student Loans are probably the best options for students who need money to fund their education. I was given the amount I wished and the loan was enough to pay for my education completely. I started repaying after graduation. I was five years ago and now I am completely free from any debts. I feel happy and grateful to the Citizens Bank for helping me to get higher education. I do recommend them to all students and their parents."
My Final Summary
Citizens Bank Student Loans appear to be worthy for those who need money for receiving education and a good profession in the future. The loans come with low rate. You can start paying out the money either when you are still studying or after you graduate and get a job. The customer service of the company deserves separate attention. The representatives of Citizens Bank are knowledgeable, helpful and friendly. Everything about the service seems perfect; however, to get a loan you will need to meet certain eligibility requirements. To get approval for a student loan, you must be 18 years of age or older, be a U.S. permanent resident or a citizen, you must be enrolled at a qualifying school more than half-time, apply with a qualified co-signer or meet certain credit requirements. Taking into account all pros and cons, I do recommend Citizens Bank Student Loans.
Citizens Bank Student Loans Pricing and Rates
A positive feature for the Citizens Bank is lack of fees. It does not charge any payment for the application or processing. You also don't need to pay money for accessing your credit score. Another great news is that you can finish out your loan early. This approach encourages students to pay out as much as they can, which means that they spend less money on interest. As of September 1, 2018, the bank was offering the following rates. Variable rate was from 2.57% to 8.17% APR, while Fixed Rate was from 3.75% to 8.69% APR. It should be kept in mind that rates and terms can change. You are recommended to check out Citizens Bank before applying.