What Is Citizens Bank?
Citizens Financial Group, Inc. is one of the oldest and most prominent retail banks in the United States. Citizens provides financial services to individuals, small businesses and large corporations. With a presence in 14 states across the nation, Citizens offers online and mobile banking services, and has a network of 1,000 bank branches.
Citizens Bank Customer Service
Citizens Bank offers 24/7 customer service to its customers both online and via phone. Customer service is based on the specific services and products you are using. They have a list of available phone numbers, FAQ pages, and emails on the customer service page of their website.
What is Citizens Bank Student Loans
Citizens Bank offers multi-year approval to secure money for each year of your college education. If you qualify, you don't have to reapply every year. Citizens Bank offers competitive rates and fees with the chance to lower your rate by 0.25% with their loyalty and another 0.25% with auto-payment discounts. They also have no application, origination, or disbursement fees.
Citizens Bank offers a range of student loan products including:
- Undergraduate Student Loans
- Graduate Student Loans
- Parent Loans
- Refinance Loans for Students
- Refinance Loans for Parents
- Refinance Loans for Medical Students
Citizens Bank Undergraduate Student Loans
Citizens Bank offers competitive fixed and variable rates, with rate quotes that are valid for 30 days. You or your cosigner may also qualify for their Multi-Year approval option (which means you sign one promissory note that can be used for more than one year).
More Citizens Bank undergraduate student loans features are:
- Repayment terms from 5-15 years with the option to defer your payments until after graduation, or choose from full or interest only payments during school.
- Eligibility requirements include being a U.S. citizen or permanent resident, enrolled at least half-time in a degree-granting program at an eligible institution, have good credit or a qualified cosigner.
- International students may be eligible for private loans if they apply with a U.S. citizen or permanent resident who can meet credit criteria.
- Students can borrow up to the maximum qualified loan amount OR the total cost of education, whichever is lower.
Citizens Bank Graduate Student Loans
Citizens Bank offers competitive fixed and variable interest rates for their graduate student loans as well.
Features include:
- 5-15 year repayment terms as well as the option to make full payments, interest-only payments, or defer payments while in school.
- Eligibility requirements include being a U.S. Citizen, at least half-time enrollment, good credit or a qualified cosigner.
- Students can borrow up to the maximum qualified loan amount OR the total cost of education, whichever is lower.
Citizens Bank Student Loan Refinance
Citizens Banks student loan refinance features:
- Options for both students and parents to refinance their loans
- 5-20 year repayment periods depending on your budget. Borrowers will also have the option to release the cosigner after making 36 consecutive on-time payments.
- Eligibility includes a minimum student loan balance of $10,000, and the maximum amount you can refinance will vary based on degree type:
- $300,000 if you have a Bachelor's degree
- $500,000 for those with a graduate degree
- $750,000 for Professional degrees
- You must be a U.S. citizen with a strong credit history.
Citizens Bank Student Loan for Parents
Citizens Bank allows parents to borrow up to 100% of their student’s college costs.
Citizens offers the following features for parents:
- Multi-Year approval if you qualify based on credit
- 5-10 year repayment terms with the option for full or interest only payments.
- Minimum loan amount of $1,000
- Parents must be U.S. citizens or permanent residents, and you can apply with a cosigner, if needed.
Pros and Cons of Citizens Bank Student Loans
Citizens Bank has several products with features you should evaluate. Here’s our take on the pros and cons.
| Pros | Cons |
|---|---|
| Multi-year loan option to help cover future academic periods; soft credit inquiry vs hard credit inquiry for subsequent years | Subject to approval; annual loan requests are still required |
| Ability to refinance Parent PLUS loans in the student’s name | Student must qualify and demonstrate income and creditworthiness |
| Loans available to undergraduate, graduate and professional students | Must be pursuing at least a bachelor’s degree. Community College students and students pursuing certificates are not eligible. |
| Zero origination fees and interest rate discounts | Not everyone will qualify for their Loyalty Discount |
| Option for cosigner release | |
| No prepayment penalty |
How do I apply for a Citizens Bank Student Loan?
Find the get started link on their website through the student loan lending tab. However, if you want to shop around (which we always encourage) you can compare lenders on our site to find competitive loans and rates. Some lenders may offer lower rates or more favorable terms.
How Citizens Bank Gives Back
Citizens Bank gives back to programs that:
- Fight hunger and reduce food insecurity.
- Teach money management through financial literacy programs that provide individuals and businesses with the tools needed to be fiscally healthy.
- Strengthen communities through economic development, job training, small business development, affordable housing, and neighborhood revitalization.
Citizen’s Bank also supports projects that provide direct services to low- and moderate-income populations.
Citizens Bank Headquarters
Citizens Bank is headquartered in Providence, Rhode Island. They also operate several offices and bank branches throughout the country.
