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Student Loans

Citizens Bank Student Loans Review: Rates, Refinance, and Features Explained

Private Student Loans
  • Student loans for undergraduates, graduates, and parents
  • 0.25% rate discount for current Citizens Bank account holders
  • Multiyear approval could lead to easier access to loans for future years
  • Doesn’t let you prequalify with a soft credit check
  • Must be enrolled at least half-time
Rates (APR)5.99% – 15.03%
Loan amounts$1,000 – $150,000
Repayment terms5, 10, or 15 years
Refinance Student Loans
  • Refinance options for students, medical residents, and parents
  • Refinance without a degree
  • 0.25% rate discount for current Citizens Bank account holders
  • Consolidate federal and private student loans
  • Check your rate without affecting your credit score
  • Cosigners can’t be released until 36 on-time payments are made
  • Interest rates tend to be a bit higher than other lenders
Rates (APR)6.49% – 12.41%
Loan amounts$10,000 – $500,000
Repayment terms5 – 20 years
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Is Citizens Bank a good student loan lender? Here’s what to know.

Citizens Bank offers private student loans and refinancing options for students, parents, and medical residents. Its competitive rates and multiyear approval make it worth a look, especially if you already bank with Citizens and qualify for loyalty discounts.

However, while Citizens is strong on rates and flexibility, it doesn’t offer repayment assistance or support students at community colleges or part-time programs. In this review, we’ll break down everything you need to know—from loan types and rates to how Citizens compares with other lenders.

Table of Contents

Overview: Citizens Bank student loans at a glance

Citizens Bank offers a wide range of private student loans and refinance options tailored to undergraduates, graduates, medical professionals, and parents. Known for its multiyear approval feature and discounts, it may appeal to financially stable borrowers looking for long-term flexibility. Citizens does not offer federal student loans.

Citizens Bank undergraduate student loans

Undergraduate loans from Citizens Bank come with competitive rates and three repayment plans: immediate, interest-only, and deferred. Cosigners are recommended for most applicants. Borrowers can qualify for up to $150,000 in funding and may benefit from the multiyear approval feature, which simplifies borrowing for future academic years.

FeatureDetails
Fixed rates (APR)4.43% – 11.94%
Variable rates (APR)6.03% – 13.25%
Rate discountsLoyalty discount of 0.25%; 0.25% autopay discount
Loan amounts$1,000 – $150,000
In-school repayment plansImmediate, interest-only, or deferred
Repayment terms5 – 20 years
Grace period6 months
Cosigner releaseYes, after 36 consecutive on-time payments
FeesNo application, origination, disbursement, or early repayment fees
Unique featuresMultiyear approval; Citizens Scholarship (no-essay application that could result in up to $15,000 toward tuition)

Citizens Bank graduate and professional loans

FeatureDetails
Fixed rates (APR)4.99% – 10.74%
Variable rates (APR)6.53% – 12.19%

Graduate loans are available for general grad school, law, MBA, medical, and dental students. Citizens offers tailored maximum loan amounts and the same multiyear approval and rate discount options. Interest-only or deferred payment options are available in-school, with repayment terms ranging from five to 20 years.

Degree programFixed rates (APR)Variable rates (APR)Max loan amt.
MBA4.99%9.74%6.53%11.46%$225K
Law4.99%9.74%6.53%11.46% $225K
Medical and dental school4.99%9.40%6.53%11.06%$180K or $350K (based on degree)

Note: The lifetime aggregate limit includes federal and private loan debt.

Citizens Bank parent loans

Parents can borrow on behalf of their child and benefit from the same rate discounts. Repayment terms range from 5 to 20 years, with no grace period. In-school repayment options include interest-only and full principal plus interest.

FeatureDetails
Fixed rates (APR)6.50% – 11.01%
Variable rates (APR)7.16% – 12.67%

Citizens Bank student loan refinance

Citizens allows borrowers to refinance both private and federal loans. You must have at least $10,000 in student loans, and cosigners can be released after 36 on-time payments. Refinance terms range from five to 20 years. Rates are competitive, though not the lowest in the industry.

FeatureDetails
Fixed rates (APR)5.40% – 10.65%
Variable rates (APR)6.67% – 12.02%
Loan amounts$10,000 – $300,000 (Bachelor’s degree or below); $10,000 – $500,000 (Graduate degree)
Repayment terms5, 7, 10, 15, or 20 years
Cosigner releaseYes, after 36 consecutive on-time payments
FeesNo application, origination, or disbursement fees
Unique featuresNo degree requirement for refinancing; Offers refinancing options for loans in the student’s name and loans in the parent’s name

Citizens Bank medical resident refinance

Medical professionals in residency or fellowship can refinance and make $100 monthly payments for up to seven years. The interest rate is based on future earning potential rather than current income, which may improve approval odds or reduce rates.

FeatureDetails
Fixed rates (APR)5.40%10.65%
Variable rates (APR)6.67%12.02%
Loan amounts$10,000 – $750,000
Repayment assistanceFixed $100 monthly payments throughout medical residency or fellowship
Unique featuresThe loan’s interest rate is based on the borrower’s future expected earnings; Affordable fixed payment of $100 per month throughout medical residency or fellowship

Citizens Bank refinance for parents

Parents with Parent PLUS or private loans can refinance into one loan. Citizens allows up to $500,000 in refinanced debt with fixed or variable rates, plus access to rate discounts.

FeatureDetails
Fixed rates (APR)5.40% – 10.65%
Variable rates (APR)6.67% – 12.02%
Loan amounts$10,000 – $500,000

Who’s eligible for a Citizens Bank loan?

Borrowers must be U.S. citizens, permanent residents, or resident aliens with a valid Social Security number. Undergraduate and graduate loans require enrollment at least half-time in a four-year Title IV institution.

RequirementDetails
CitizenshipU.S. citizen, permanent resident, or resident alien with a valid U.S. Social Security number
State of residenceAll 50 states and Wsahington, D.C.
Minimum ageBorrower or cosigner must be the age of majority in their state of residence (18 in most states)
Enrolled school4-year Title IV public or private institutions
Enrollment statusMust be enrolled at least half-time in a degree-granting program at an eligible institution
Minimum incomeGross annual income of $12,000 (borrower and cosigner combined)

How repayment works

Repayment options include immediate, interest-only, or deferred during school. Terms range from 5 to 20 years, depending on loan type. Cosigners can be released after 36 consecutive on-time payments. Citizens does not advertise repayment assistance programs but partners with Firstmark Services for servicing.

Pros and cons

Pros

  • Competitive rates

  • Loyalty and autopay discounts

  • Multiyear approval available

  • Cosigner release after 36 payments

  • Refinance available for borrowers without degrees

Cons

  • No federal loans

  • No repayment assistance disclosed

  • Only 4-year schools are eligible

  • Cosigner release takes longer than some competitors

How Citizens compares to other lenders

Citizens’ multiyear approval stands out when compared to other student loan companies, as well as the option to refinance even if you haven’t earned a degree.

However, if you’re attending school less than half-time, College Ave doesn’t have a minimum enrollment requirement.

Earnest allows for more repayment customization, and SoFi offers generous member benefits.

Company Best for… Rating (0-5)
Best for multiyear approval
Best overall private student loan
Best online refinance lender
Best skip-a-payment benefit

Customer reviews

Citizens Bank is BBB-accredited but has poor customer reviews. Here are its ratings as of May 2025:

SourceCustomer ratingNumber of reviews
Better Business Bureau1.08/5199
Trustpilot1.2/5663
Google1.4/595
Collected on May 22, 2025.

Common complaints center on non-student-loan services (e.g., fraud claims, checking fees), but response to student loan inquiries is generally handled through Firstmark Services.

How to apply

Citizens' website asks who the loan is for: my education or someone else's education.
  1. Get a soft credit check and rate quote online
  2. Complete the full application
  3. Submit documents and add a cosigner if needed
  4. Review loan terms and accept the offer
  5. Citizens sends funds to your school (or pays off your old loans, if refinancing)

FAQ

Is Citizens Bank good for student loans? 

Yes, if you have strong credit or a qualified cosigner. Its multiyear approval and rate discounts are standouts. But weaker-credit borrowers may struggle.

Who services Citizens Bank loans? 

Firstmark Services handles servicing for Citizens Bank student loans and refinanced loans.

Does Citizens Bank offer hardship assistance? 

Citizens doesn’t advertise deferment or forbearance. Contact support to discuss options.