Citizens Bank Student Loans Review 2025: Multi-Year Approval, Refinancing, and Key Features

Great for Multi-Year Approval

4.7 _/5

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Our take: Citizens Bank is a great private student loan company for undergrads, grad students, and students pursuing professional degrees. Citizens’ multi-year approval is a huge time-saver for busy students and is the lender’s standout feature.

Private Student Loans

• Competitive interest rates
• No origination, application, or disbursement fees
• Multi-year loan approval

• Lowest rate requires two separate discounts
• Lengthy cosigner release

Rates (APR)	3.24% – 15.46% (depending on loan type)
Loan amounts	$1,000 up to 100% of school certified expenses (aggregate limits depend on loan type)
Repayment terms	5, 10, or 15 years

Refinance Student Loans

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• Competitive interest rates
• No origination, application, or disbursement fees
• Flexible repayment terms

• Lowest rate requires two separate discounts
• Must have at least $10,000 in student loans to refinance
• Lengthy cosigner release

Rates (APR)	5.45% – 11.08% (depending on loan type)
Loan amounts	$10,000 – $300,000, $500,000, or $750,000 (depending on debt type)
Repayment terms	5, 7, 10, 15, or 20 years

Note: To get Citizens Bank’s lowest student loan interest rate offer, you must enroll in automatic payments (a 0.25% discount) and qualify for the loyalty discount by having another Citizens account (another 0.25% discount). You must also choose either interest-only repayment on in-school loans or immediate repayment on refinance loans.

Table of Contents

1. Citizens Bank private student loans
   1. Undergraduate
   2. Graduate
   3. MBA
   4. Law
   5. Medical
   6. Dental
   7. Parent
2. Citizens Bank refinance student loans
   1. Student loan refinance
   2. Medical resident refinance
   3. Parent loan refinance
3. Citizens Bank student loans customer reviews
4. Alternatives for private student loans
   1. Citizens Bank vs. College Ave
   2. Citizens Bank vs. Sallie Mae
   3. Citizens Bank vs. SoFi
5. Alternatives or student loan refinancing
   1. Citizens Bank vs. SoFi
   2. Citizens Bank vs. ELFI
   3. Citizens Bank vs. Earnest
6. How to apply

Citizens Bank private student loans

Citizens Bank ranks among LendEdu’s best private student loan lenders, primarily because of its multi-year approval feature. Apply for a Citizens student loan once, and you could qualify for a multi-year offer—meaning you won’t have to reapply next year. For students with busy courseloads and part-time jobs, this is incredibly convenient.

Undergraduate

Great for Multi-Year Approval

4.7 _/5

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Undergraduate student loans

• Competitive interest rates
• No origination, application, or disbursement fees
• Cosigners allowed
• Three repayment options (immediate, interest only, deferred)
• Fast prequalification; rates good for 30 days
• Multi-year loan approval

• Lowest rate requires two separate discounts
• Not eligible for two-year schools, community colleges, or for-profit colleges
• Less flexible repayment terms than competitors
• Lengthy cosigner release

Variable rates	4.99% – 15.46%
Fixed rates	3.24% – 14.98%
Loan amounts	$1,000 up to 100% of school certified expenses ($225,000 aggregate limit)
Repayment terms	5, 10, or 15 years
Cosigner release	After 36 consecutive on-time payments

Graduate

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Graduate student loans

• Competitive interest rates
• No origination, application, or disbursement fees
• Cosigners allowed
• Three repayment options (immediate, interest only, deferred)
• Fast prequalification; rates good for 30 days
• Multi-year loan approval

• Lowest rate requires two separate discounts
• Less flexible repayment terms than competitors
• Lengthy cosigner release

Variable rates	3.24% – 13.61%
Fixed rates	4.99% – 13.96%
Loan amounts	$1,000 up to 100% of school certified expenses ($225,000 aggregate limit)
Repayment terms	5, 10, or 15 years
Cosigner release	After 36 consecutive on-time payments

MBA

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MBA student loans

• Competitive interest rates
• No origination, application, or disbursement fees
• Cosigners allowed
• Three repayment options (immediate, interest only, deferred)
• Fast prequalification; rates good for 30 days
• Multi-year loan approval

• Lowest rate requires two separate discounts
• Less flexible repayment terms than competitors
• Lengthy cosigner release

Variable rates	4.99% – 13.73%
Fixed rates	3.24% – 13.28%
Loan amounts	$1,000 up to 100% of school certified expenses ($300,000 aggregate limit)
Repayment terms	5, 10, or 15 years
Cosigner release	After 36 consecutive on-time payments

Law

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Law school student loans

• Competitive interest rates
• No origination, application, or disbursement fees
• Cosigners allowed
• Three repayment options (immediate, interest only, deferred)
• Fast prequalification; rates good for 30 days
• Multi-year loan approval

• Lowest rate requires two separate discounts
• Less flexible repayment terms than competitors
• Lengthy cosigner release

Variable rates	4.99% – 13.73%
Fixed rates	3.24% – 13.28%
Loan amounts	$1,000 up to 100% of school certified expenses ($300,000 aggregate limit)
Repayment terms	5, 10, or 15 years
Cosigner release	After 36 consecutive on-time payments

Medical

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Medical school student loans

• Competitive interest rates
• No origination, application, or disbursement fees
• Cosigners allowed
• Three repayment options (immediate, interest only, deferred)
• Fast prequalification; rates good for 30 days
• Multi-year loan approval

• Lowest rate requires two separate discounts
• Less flexible repayment terms than competitors
• Lengthy cosigner release

Variable rates	4.99% – 12.07%
Fixed rates	3.24% – 10.84%
Loan amounts	$1,000 up to 100% of school certified expenses ($250,000 or $400,000 aggregate limit, depending on medical degree)
Repayment terms	5, 10, or 15 years
Cosigner release	After 36 consecutive on-time payments

Dental

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Dental school student loans

• Competitive interest rates
• No origination, application, or disbursement fees
• Cosigners allowed
• Three repayment options (immediate, interest only, deferred)
• Fast prequalification; rates good for 30 days
• Multi-year loan approval

• Lowest rate requires two separate discounts
• Less flexible repayment terms than competitors
• Lengthy cosigner release

Variable rates	4.99% – 12.07%
Fixed rates	3.24% – 10.84%
Loan amounts	$1,000 up to 100% of school certified expenses ($400,000 aggregate limit)
Repayment terms	5, 10, or 15 years
Cosigner release	After 36 consecutive on-time payments

Parent

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Parent student loans

• No origination, application, or disbursement fees
• Decrease out-of-school debt load for child
• Fast prequalification; rates good for 30 days
• Multi-year loan approval

• Lowest rate requires two separate discounts
• Higher starting rates than student-financed loans
• Only two repayment methods (immediate and interest only)
• Only two repayment term options

Variable rates	5.52% – 11.20%
Fixed rates	5.45% – 10.46%
Loan amounts	$1,000 up to 100% of school certified expenses ($225,000 aggregate limit)
Repayment terms	5 or 10 years
Cosigner release	N/A

Citizens Bank refinance student loans

While Citizens Bank didn’t make our list of the best student loan refinancing options, it’s still worth consideration if you have federal loans and don’t plan to take advantage of benefits such as student loan forgiveness.

Student loan refinance

4.1 _/5

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General student loan refinancing

• Competitive interest rates
• No origination, application, or disbursement fees
• Flexible repayment terms
• Fast prequalification; rates good for 30 days
• Cosigners allowed

• Lowest rate requires two separate discounts
• Must have at least $10,000 in student loans to refinance
• Must have bachelor’s degree or higher (i.e., not available if you didn’t graduate)
• Lengthy cosigner release

Variable rates	5.99% – 11.08%
Fixed rates	5.45% – 10.08%
Loan amounts	$10,000 – $300,000 (bachelor’s degree), $500,000 (graduate degree), or $750,000 (professional degree)
Repayment terms	5, 7, 10, 15, or 20 years
Cosigner release	After 36 consecutive on-time payments

Medical resident refinance

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Medical resident refinancing

• $100 monthly payment during residency
• Competitive interest rates
• No origination, application, or disbursement fees
• Flexible repayment terms
• Fast prequalification; rates good for 30 days
• Cosigners allowed

• Lowest rate requires two separate discounts
• Must have at least $10,000 in student loans to refinance
• Lengthy cosigner release

Variable rates	5.99% – 10.92%
Fixed rates	5.45% – 9.91%
Loan amounts	$10,000 – $750,000
Repayment terms	5, 7, 10, 15, or 20 years
Cosigner release	After 36 consecutive on-time payments

Parent loan refinance

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Parent loan refinancing

• No origination, application, or disbursement fees
• Flexible repayment terms
• Fast prequalification; rates good for 30 days

• Lowest rate requires two separate discounts
• Must have at least $10,000 in student loans to refinance

Variable rates	5.99% – 11.08%
Fixed rates	5.45% – 10.08%
Loan amounts	$10,000 – $500,000
Repayment terms	5, 7, 10, 15, or 20 years
Cosigner release	N/A

Citizens Bank student loans customer reviews

Citizens Bank isn’t accredited with the Better Business Bureau, but based on customer reviews, the lender currently has an A+ rating. However, a word of caution: Citizens has a 1.2-star rating on Trustpilot based on more than 700 reviews.

That said, browsing Reddit helps you get a feel for how some Citizens Bank student loan borrowers feel; the consensus seems to be that Citizens is fine—nothing exciting, but reliable, which is what you probably want from a student loan servicer.

Has anyone used Citizen for student loans? Interested in how it compares to SoFi and traditional banks.
byu/Xamautnmtuma insofi

Alternatives to Citizens Bank for private student loans

Citizens Bank vs. College Ave

College Ave is Citizens’ multi-year approval means you apply once and keep using the same approval for future years, which cuts down on paperwork. College Ave offers “multi-year peace of mind,” which still requires a new application each year but gives you confidence that you’ll be approved again as long as you continue meeting requirements.

College Ave also provides more flexible repayment terms and releases cosigners once you’ve reached the halfway point of repayment, while Citizens requires 36 consecutive on-time payments.

Citizens Bank vs. Sallie Mae

Sallie Mae allows cosigner release after 12 consecutive on-time payments, which can be much faster than Citizens’ 36. Citizens, however, gives you multi-year approval, while Sallie Mae requires reapplying annually.

Citizens Bank vs. SoFi

SoFi is a strong choice for graduate students and borrowers with solid credit. It offers competitive rates and multiple repayment terms, but requires a higher minimum credit score than Citizens.

Alternatives to Citizens Bank for student loan refinancing

Citizens Bank vs. SoFi

SoFi’s refinancing starts at a lower minimum balance ($5,000 vs. $10,000 for Citizens) and appeals to borrowers with good credit who want straightforward options. Citizens supports much higher balances—up to $750,000 for professional degrees—and offers loyalty and autopay discounts that can help reduce your rate further.

Citizens Bank vs. ELFI

ELFI is competitive for rates and is known for strong, hands-on customer service. Citizens is a better fit if you have very high student loan balances and already bank there, since you can stack discounts. ELFI may win for borrowers who want a smoother, more personal servicing experience.

Citizens Bank vs. Earnest

Earnest gives borrowers more repayment control, letting you fine-tune your monthly payment and term. Citizens sticks to set terms (5, 7, 10, 15, or 20 years) but offers broad eligibility and loyalty/autopay discounts. Earnest is better for customization; Citizens for large balances.

How to apply

Applying for a Citizens Bank student loan (or refinancing an existing one) is straightforward, but it helps to know the steps in advance. Here’s how the process works:

1. Check eligibility
   You must be enrolled at least half-time at an eligible institution for new loans, or hold at least a bachelor’s degree for refinancing. For refinancing, you’ll also need a minimum of $10,000 in student loans.
2. Prequalify online
   Use Citizens’ prequalification tool to check estimated rates with only a soft credit pull. Rates are good for 30 days, giving you time to compare options.
3. Complete the application
   Provide details about your school, degree program, loan amount, and finances. Add a cosigner if you need help qualifying or want a better rate.
4. Submit documents
   You’ll likely need proof of enrollment, a government-issued ID, and income or loan payoff details (for refinancing).
5. Get a decision
   Citizens reviews applications in a few business days. If approved, you’ll receive final loan terms and choose a repayment plan (immediate, interest-only, or deferred for private loans; fixed terms for refinancing).
6. Finalize funding
   Private loan funds go directly to your school, while refinancing pays off your old loans and consolidates them into one new loan with Citizens.
7. Activate discounts
   Sign up for autopay (0.25% off) and, if you’re a Citizens customer, add the loyalty discount (another 0.25% off) to secure the lowest possible rate.

How we rated Citizens Bank

We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Citizens Bank to several student loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.