Graduate Loans

The smart way to make higher education happen.

Rates

Variable rates as low as 3.14% APR2
Fixed rates as low as 5.74% APR2

for eligible applicants with automatic payment and loyalty discounts3, 4

MBA Loans

The savvy way to finance your MBA.

Rates

Variable rates as low as 3.14% APR5
Fixed rates as low as 5.25% APR5

for eligible applicants with automatic payment and loyalty discounts3, 4

Law Loans

The flexible choice for financing your law degree.

Rates

Variable rates as low as 3.14% APR5
Fixed rates as low as 5.25% APR5

for eligible applicants with automatic payment and loyalty discounts3, 4

Medical / Dental Loans

The smart way to finance your degree to help others.

Rates

Variable rates as low as 3.14% APR6
Fixed rates as low as 5.25% APR6

for eligible applicants with automatic payment and loyalty discounts3, 4

Borrower Benefits

Lower your interest rate by up to 0.50 percentage points with available discounts.3, 4

Cosigner Release

You may apply for cosigner release after 36 on-time payments.7

Flexible Repayment

Manage your payments with a variety of flexible repayment options.

No Prepayment Fees

No application, origination, or prepayment fees.

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Details

Eligible Schools

You must attend an eligible school.

Interest Rates

You have a choice of either a fixed or variable interest rate. Interest rates are determined by the borrower’s and/or cosigner’s credit, repayment option, repayment term, and loan type.

  • Variable rates as low as 3.14% APR2 for eligible applicants (with loyalty and automatic payment discounts)
  • Fixed rates as low as:
    • 5.74% APR2 for Graduate Degrees for eligible applicants (with loyalty and automatic payment discounts)
    • 5.25% APR5 for Business & Law Degrees for eligible applicants (with loyalty and automatic payment discounts)
    • 5.25% APR6 for Medical & Dental Degrees for eligible applicants (with loyalty and automatic payment discounts)

Loan Limits

  • Total Citizens Bank Student Loan Limits:
    • Graduate: $110,000
    • Business and Law: $180,000
    • Medical and Dental: $295,000
  • Minimum loan amount: $1,000
  • Total Aggregate Student Loan Limits:
    • Graduate: $150,000
    • Business and Law: $225,000
    • Medical and Dental: $350,000

Borrower Benefits

  • 0.50 percentage point interest rate reduction with available discounts3, 4

Repayment Options

We offer three different repayment options, so you can choose the plan that’s right for you. After you’ve been approved, you’ll be given a list of options to help you compare monthly payment amounts and total loan costs.

  • Immediate Repayment: Make principal and interest payments while attending school.
  • Interest-Only Repayment: Make interest only payments while in school and during your six month grace period after graduation or falling below half-time status.
  • Deferred Repayment: Make no payments while you’re still in school and during your six-month grace period after graduation or falling below half-time status.

Repayment Term

Citizens Bank offers various repayment options.

Rates and terms

Eligibility Requirements8

Requirements

You must:

  • Be a U.S. citizen or have permanent residency status and possess a valid U.S. Social Security number. International students can apply with a creditworthy U.S. citizen or permanent resident cosigner.
  • Have attained the age of majority in your state of residence or if you have not me the age majority in your state of residence, a cosigner will be required.
  • Be enrolled at least half time in a degree-granting program at an eligible institution.
  • Borrow a minimum of $1,000
  • Not exceed the maximum student loan debt limits.

Apply for a Graduate Loan

Financial Aid Tip: We recommend that you take advantage of all scholarship, grants, and federal aid options before applying for a private student loan.

The following terms are provided by Citizens Bank.

1. Average savings are calculated using the 2015/2016 Award Year Federal Direct PLUS Loan program reporting (as of 5/11/2016 for quarter ending March 31, 2016 not including Federal Direct PLUS for undergraduate students) of originations of ~$7.0 billion to 324,087 borrowers through 397,217 loans with an average loan size of $21,639.97.

2. Graduate Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of October 1, 2017, the one-month LIBOR rate is 1.24%. Variable interest rates range from 3.14% - 10.89% (3.14% - 10.79% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.74% - 11.75% (5.74% - 11.45% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with co-signer, are for eligible applicants, require a 5-year repayment term,  borrower making scheduled payments while in school and include our Loyalty4 and Automatic Payment3 discounts of 0.25 percentage points each, as outlined in the Loyalty Discount4 and Automatic Payment3 Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. You will be presented with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan.

3. Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.

4. Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.

Citizens Bank Student Loans reserves the right to modify or discontinue these benefits at any time. Any changes to these benefits will not affect loans issued prior to the change date

5. Business/Law Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of October 1, 2017, the one-month LIBOR rate is 1.24%. Variable interest rates range from 3.14% - 9.99% (3.14% - 9.74% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.25% - 10.99% (5.25% - 10.75% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term,  borrower making scheduled payments while in school and include our Loyalty4 and Automatic Payment3 discounts of 0.25 percentage points each, as outlined in the Loyalty Discount4 and Automatic Payment3 Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. You will be presented with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan.

6. Medical/Dental Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of October 1, 2017, the one-month LIBOR rate is 1.24%. Variable interest rates range from 3.14% - 9.49% (3.14% - 9.30% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.25% - 10.49% (5.25% - 10.26% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term,  borrower making scheduled payments while in school and include our Loyalty4 and Automatic Payment3 discounts of 0.25 percentage points each, as outlined in the Loyalty Discount4 and Automatic Payment3 Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. You will be presented with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan.

7. Co-signer Release: Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest. For the purpose of the application for co-signer release, on-time payments are defined as payments received within 15 days of the due date. Interest only payments do not qualify. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release. Borrowers must complete an application for release and provide income verification documents as part of the review. Borrowers who use deferment or forbearance will need to make 36 consecutive on-time payments after reentering repayment to qualify for release. The borrower applying for co-signer release must be a U.S. citizen or permanent resident. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received. Terms and conditions apply.

8. Citizens Bank Student Loan Eligibility: Borrowers must be enrolled at least half-time in a degree-granting program at an eligible institution. Borrowers must be a U.S. citizen or permanent resident or an international borrower with a creditworthy U.S. citizen or permanent resident co-signer. For borrowers who have not attained the age of majority in their state of residence, a co-signer will be required. Citizens Bank reserves the right to modify eligibility criteria at anytime. Interest rate ranges subject to change. Citizens Bank Student Loans private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and – if applicable – self-certification form, school certification of loan amount, and student’s enrollment at a Citizens Bank Student Loans-participating school. Please Note: International Students are not eligible to receive an offer for the Multi Year Borrowing Option.

Disclosures