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  • Limited-time offer!
    Save up to $500
    when you refinance your student loans with Citizens Bank between 9/5/17 and 11/15/17.*
  • Refinancing and consolidation of federal and private student loans with an Education Refinance Loan® from Citizens Bank®1
  • Citizens Bank private student loan customers have saved an average of $1536/year2
  • Fixed rate student loan refinancing featuring an interest rate as low as 3.35%4 APR to 8.33% APR (with autopay)4 for eligible candidates3
  • Variable interest rates range from 2.89% APR - 8.24%4 APR (with autopay)4 and will fluctuate over the term of your loan with changes in the LIBOR rate3
  • 5, 10, 15, 20 year repayment term options
  • Loyalty Discount: 0.25 percentage point interest rate reduction on a new Education Refinance Loan if you or your co-signer (if applicable) has a qualifying account in existence with us at the time of application4
  • Automatic Payment Discount: 0.25 percentage point interest rate reduction by authorizing our loan servicer to automatically deduct your payments each month from any bank account4
  • Co-signer Release: Co-signer may be released from loan responsibility after making 36 consecutive, on-time principal and interest payments5
  • No application, origination or disbursement fees
  • Minimum Loan to Refinance: $10,000
  • (See disclosure and repayment examples)
  • Important Disclosures

    Citizens Bank Disclosures

    1. Education Refinance Loan 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 December 1, 2017, the one-month LIBOR rate is 1.34%. Variable interest rates range from 2.89%- 8.24% (2.89%-8.24% APR) and will fluctuate over the term of the borrower’s 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 3.35%-8.33% (3.35% – 8.33% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown are for eligible applicants, require a 5-year repayment term and include our Loyalty discount and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty and Automatic Payment Discount disclosures. The maximum variable rate on the Education Refinance Loan is the greater of 21.00% or Prime Rate plus 9.00%. 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. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of their loan.
    2. Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer with the Education Refinance Loan. Borrowers should carefully review their current benefits, especially if they work in public service, are in the military, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans and replace those with the benefits of the Education Refinance Loan. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision at http://www.citizensbank.com/EdRefinance, including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.
    3. Citizens Bank Education Refinance Loan Eligibility: Eligible applicants may not be currently enrolled, must be in repayment of their existing student loan(s) and must make the minimum number of payments after leaving school. Primary borrowers must be a U.S. citizen, permanent resident or resident alien with a valid U.S. Social Security Number residing in the United States. Resident aliens must apply with a co-signer who is a U.S. citizen or permanent resident. The co-signer (if applicable) must be a U.S. citizen or permanent resident with a valid U.S. Social Security Number residing in the United States. For applicants 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. Education Refinance Loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, certification of borrower’s student loan amount(s) and highest degree earned.
    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.
    5. 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.
    6. 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.
    7. Average savings based on 28,590 actual customers who refinanced their federal and private student loans through our Education Refinance Loan between August 1, 2016 and July 31, 2017. The borrower’s savings might vary based on the interest rates, balances and remaining repayment term of the loans they are seeking to refinance. The borrower’s overall repayment amount may be higher than the loans they are refinancing even if their monthly payments are lower.
    8. * Principal Balance Reduction Offer: Offer available from 9/5/17 – 11/15/17. To qualify for the offer, the borrower and co-signer (if applicable) must submit a completed application between 9/5/17 and 11/15/17, including authorizing us to review the credit request for an Education Refinance Loan. Qualified borrowers will receive a reduction in their principal balance equal to one percent (1%) of the disbursed loan amount or $500.00, whichever is less. The Education Refinance Loan must be active and in good standing at the time the Principal Balance Reduction Benefit is applied. Only one Principal Balance Reduction Benefit is allowed per applicant. Principal reduction will be applied with an effective date equal to the loan’s disbursement date. Principal reduction may take up to  2nd billing cycle to display on monthly statement. The Principal Balance Reduction Benefit will be processed as a reduction of principal to the Education Refinance Loan and will not impact the required monthly payment amount or the payment due date for the loan. The value of the Principal Balance Reduction Benefit may be reported to the IRS. You are solely responsible for any taxes that may be owed as a result of the principal balance reduction earned. Please consult your tax advisor. Citizens Bank, N.A. does not provide tax advice. Citizens Bank Student Loans reserves the right to modify the terms of this offer at any point in the future for new applications.