Rankings: See the Most Affordable Colleges in the Northeast

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In the Northeast, students and their families face some of the highest college costs in the nation. Yet choosing a public or local college is one of the best ways to keep educational costs and student debt low.

With Northeast schools carrying above-average costs, it’s more crucial for students in this region to compare tuition rates and choose an affordable college.

To help you find those schools, we surveyed 310 public and private colleges in the Northeast to find where students pay the lowest tuition and graduate with the least amount of student debt.

Key findings


  • In the Northeast, public colleges offer some of the best deals to local students. Out of the top 20 affordable colleges in this region, 19 are local city or state universities.

  • New York’s city and state colleges are standouts. Across campuses, the State University of New York (SUNY) and City University of New York (CUNY) systems charge low tuitions, and the state recently introduced a tuition-free college program.

  • Two schools in Maine and one in Rhode Island made the list.

  • Annual tuition and fees among the 20 most affordable colleges averaged $8,295. That’s below the national average college cost for in-state students at four-year public schools.

The costs of Northeast colleges


Among U.S. regions, the Northeast is the most expensive one to attend college and earn an undergraduate degree.

Northeast families spent 49% more on college in 2017 than the average U.S family, found the Sallie Mae survey “How America Pays for College.”

While the national out-of-pocket college costs averaged $23,757, Northeast college students and their families paid $35,431. That’s a difference of just less than $11,700.

But students living in the Northeast aren’t stuck paying a premium to attend college near home. As with any region, some Northeast colleges are a better value for students than others.

Top 20 affordable colleges in the Northeast


To find the most affordable Northeast colleges, we surveyed costs at 310 schools in the region.

We compared each college’s tuition and fees for the most recent school year for which it was reported (2016-17 or 2017-18), and the average student debt balance of 2016 graduates, as reported to online college database Peterson’s. Having this information handy may allow you to pick a school where you can reduce your dependency on student loans to afford an education.

Here are the top 20 Northeast colleges where students pay less for their degree and graduate with the lowest balances.

Rank Northeast college Tuition and fees Average debt
1 York College (CUNY) $6,957 $4,614
2 Baruch College (CUNY) $7,115 $5,642
3 Lehman College (CUNY) $7,010 $8,525
4 Hunter College (CUNY) $6,980 $13,000
5 Queens College (CUNY) $7,138 $14,225
6 City College of New York (CUNY) $6,740 $16,942
7 University of Maine at Presque Isle $7,884 $22,934
8 Davis College $16,300 $5,360
9 University of Maine at Machias $7,726 $23,734
10 Fashion Institute of Technology (SUNY) $7,463 $24,850
11 University at Albany (SUNY) $9,423 $21,217
12 College of Environmental Science and Forestry (SUNY) $8,543 $24,269
13 SUNY Geneseo $8,408 $24,784
14 SUNY New Paltz $7,775 $26,283
15 SUNY Cobleskill $8,139 $26,520
16 Stony Brook University (SUNY) $9,257 $24,656
17 SUNY Oneonta $8,166 $27,045
18 Buffalo State College (SUNY) $7,976 $27,672
19 Rhode Island College $8,776 $26,519
20 SUNY Delhi $8,120 $28,367

Across these 20 Northeast colleges, the average annual tuition and fees are $8,295, well below the $9,970 national average college cost for in-state students at four-year public schools.

The average student loan balance across these top 20 colleges was also significantly lower at $19,858, which is half the $39,400 average student debt for 2017 graduates.

Of the Northeast’s 20 most affordable colleges, one is a private school: Davis College in Johnson City, New York. Despite tuition costs that are about twice as high as other colleges on the list, Davis College makes the list thanks to its graduates’ low student debt.

Of the remaining public colleges, 16 are CUNY or SUNY schools. Two of Maine’s public colleges made the list, as well as Rhode Island College in the state of the same name.

Top 10 public colleges in the Northeast


Below, we’ve highlighted the top 10 public colleges that provide the lowest costs in the Northeast. Among these colleges, average tuition and fees total $7,444 a year, while student debt balances average $15,568.

Rank Northeast public college Tuition and fees Average debt
1 York College (CUNY) $6,957 $4,614
2 Baruch College (CUNY) $7,115 $5,642
3 Lehman College (CUNY) $7,010 $8,525
4 Hunter College (CUNY) $6,980 $13,000
5 Queens College (CUNY) $7,138 $14,225
6 City College of New York (CUNY) $6,740 $16,942
7 University of Maine at Presque Isle $7,884 $22,934
8 University of Maine at Machias $7,726 $23,734
9 Fashion Institute of Technology (SUNY) $7,463 $24,850
10 University at Albany (SUNY) $9,423 $21,217

Of colleges in New York, CUNY and SUNY schools charge low tuition rates that are standardized across schools, though extra fees can lead to slight variations in costs at each school.

Additionally, the state recently became the first to set tuition-free college for residents. Under The Excelsior Scholarship, all students with household incomes at or below $125,000 a year will qualify for tuition-free attendance at CUNY or SUNY schools.

Alongside CUNY and SUNY schools, Maine also landed two colleges on the list: the University of Maine at Presque Isle and the University of Maine at Machias.

While New York and Maine are offering some good deals to in-state students, this isn’t true for every public college in the Northeast.

In fact, our recent college credit costs study found that several Northeast states charged some of the highest average costs per credit among public colleges: Vermont, Pennsylvania, New Hampshire, Rhode Island, New Jersey, and Massachusetts.

Top 10 private colleges in the Northeast


While a public school is often a low-cost option, students shouldn’t overlook private universities in their search for affordable Northeast colleges. Each student’s financial situation, student aid, and education goals are different. For some, a private college might be the right fit.

In fact, the Northeast is home to some of the most prestigious private universities in the world, including Ivy League schools. Additionally, many of these private universities offer some of the best and largest financial aid packages to help students cover college costs.

The sticker price is always important to consider, especially when comparing the high costs prevalent at private colleges. To help start your search, we identified the 10 most affordable private universities in the Northeast, per our rankings.

Rank Northeast private college Tuition and fees Average debt
1 Davis College $16,300 $5,360
2 Hilbert College $21,750 $19,233
3 Geneva College $26,070 $10,549
4 Thomas More College of Liberal Arts $21,000 $23,452
5 Mercy College $18,713 $29,197
6 Villa Maria College $22,080 $22,658
7 Husson University $17,010 $33,412
8 Grove City College $17,254 $37,655
9 Paul Smith’s College $27,621 $16,175
10 Utica College $20,676 $33,336

Among these private colleges, students should expect to pay higher tuition. The average across these 10 Northeast private schools was $20,847 a year.

As mentioned, higher tuition and costs don’t always mean a student and their family will pay or borrow more for college.

In fact, the average debt at these private colleges was $23,103, which is just $3,245 higher than the average debt among the 20 most affordable Northeast colleges.

Finding the right Northeast college for your budget


Northeast colleges aren’t the cheapest in the nation, but they can be an affordable option for local students, especially when compared to the cost of out-of-state tuition.

On top of watching for high prices, students can take these actions to help them narrow down their options to the most affordable school.

1. Research and compare every cost you’ll face

Tuition and fees are a great place to start checking for savings, but don’t overlook other college-related expenses. The costs of room and board, textbooks, transportation, and more can quickly add up.

A college in your city with higher tuition could be more affordable if it allows you to live at home rent-free while attending.

2. Compare your net price at each college

Keep in mind that the sticker price at these colleges won’t always represent what you and your family will pay out of pocket. Your net price is the college costs you face after all other student aid is applied. The aid you receive can vary significantly from college to college.

Evaluate financial aid awards offered by each college to which you’re accepted. This will give you the most accurate picture of what you’ll pay at each school. If you find that you may need to take out student loans to cover costs, use our student loan calculator to help you see what repayment may look like.

3. Look for state and city grants, student aid, and other assistance

While the Northeast region has some of the nation’s highest college costs, its states also have some of the strongest support systems in the nation for college students. The Excelsior Scholarship in New York is a great example, but it’s not the only one.

The Rhode Island Promise program allows students to attend in-state colleges tuition-free for two years. And Massachusetts offers seven different state grant programs to help local students cover college costs.

The price tag of a college education in the Northeast might seem high at first, but don’t let it scare you off. Shop around for affordable colleges, consider public schools first, and keep costs top of mind while applying and deciding on the right school for you.

By doing this legwork now, you can find the right Northeast college to keep your costs and student debt low.

Hey, reporters! Want to see more of our original research on colleges and student debt? Check out our latest surveys and studies by signing up for our news updates.

Need a student loan?

Here are our top student loan lenders of 2018!
LenderVariable APREligibility 
1 Important Disclosures for CollegeAve.

CollegeAve Disclosures

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

  1. All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
  2. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7% variable Annual Percentage Rate (“APR”): 96 monthly payments of $179.28 while in the repayment period, for a total amount of payments of $17,211.20. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
  3. As certified by your school and less any other financial aid you might receive. Minimum $1,000. Information advertised as valid as of 07/1/2018. Variable interest rates may increase after consummation.

2 Important Disclosures for Discover.

Discover Disclosures

  1. At least a 3.0 GPA or equivalent qualifies for a one-time cash-reward of 1% of the loan amount of each new Discover student loan. Reward redemption period is limited. Please visit DiscoverStudentLoans.com/Reward for any applicable reward terms and conditions.
  2. View Terms and Conditions at DiscoverStudentLoans.com/AutoDebitReward.

3 Important Disclosures for Ascent.

Ascent Disclosures

Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans may be funded by Richland State Bank (RSB) or Turnstile Capital Management, LLC (TCM), which are not affiliated entities. Certain restrictions and limitations may apply. Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. All loan products may not be available in certain jurisdictions. Other terms and conditions apply. Ascent is a federally registered trademark of TCM and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.

  1. Competitive rates calculated monthly at the time of loan approval. (Rates are effective as of 8/01/2018 and include a 0.25% discount applied when a borrower in repayment elects automatic debit payments via their personal checking account.)
    Ascent Tuition: Variable rate loans are based on a margin between 2.00% and 11.00% plus the 1-Month London Interbank Offered Rate (LIBOR), rounded to the nearest 1/100th of a percent. The current LIBOR is 2.069%, which may adjust monthly. Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an APR range between 3.82% – 12.82%. Fixed rate loans have an APR range between 5.54% and 14.59%.
    Ascent Independent: Variable rate loans are based on a margin between 4.00% and 12.50% plus the 1-Month London Interbank Offered Rate (LIBOR), rounded to the nearest 1/100th of a percent. The current LIBOR is 2.069%, which may adjust monthly. Your interest rate may increase or decrease, based on LIBOR monthly changes, resulting in an APR range between 5.49% and 12.77%. Fixed rate loans have an APR range between 7.06% and 13.72%.
  2. Payments may be deferred. Subject to lender discretion, forbearance and/or deferment options may be available for borrowers who are encountering financial distress.
  3. Making interest only or partial interest payments while in school will not reduce the principal balance of the loan. There are three (3) flexible in-school repayment options that include fully deferred, interest only and $25 minimum repayment. Click here for a Tuition repayment example.
  4. Flexible repayment plans may be offered with up to a fifteen (15) year repayment term for a variable rate loan and ten (10) year repayment term for a fixed rate loan. Students must be enrolled at least half-time at an eligible school. Minimum loan amount of $2,000. Ascent borrowers who choose a fixed rate option may ONLY select a loan term of five (5) or twelve (12) years (60 or 144 months, respectively). For certain loans with low balances the minimum monthly payment amount may cause the loan amortization schedule to be less than the selected term. Click here for Ascent Tuition cosigned loan current rates and repayment examples.
  5. Interest rate reduction of 0.25% for enrollment in automatic debit applies only when the borrower and/or cosigner signs up for automatic payments and the regularly scheduled, current amount due (including full, flat, or interest only payments, as applicable) is successfully deducted from the designated bank account each month. Interest rate reduction(s) will not apply during periods when no payment is due, including periods of In-School, Deferment, Grace or Forbearance. If you have two (2) returned payments for Nonsufficient Funds, we may cancel your automatic debit enrollment and you will lose the 0.25% interest rate reduction. You will then need to re-qualify and re-enroll in automatic debit payments in order to receive the 0.25% interest rate reduction.
  6. All applicants (individual and cosigner) are required to complete a brief online financial literacy course as part of the application process to be eligible for funding.
  7. Eligibility, loan amount and other loan terms are dependent on a number of factors, including: loan product, other financial aid, creditworthiness, school, program, graduation date, major, cost of attendance and other factors. Aggregate loan limits may apply. The cost of attendance is determined and certified by the educational institution.
  8. The legal age for entering into contracts is eighteen (18) years of age in every state except Alabama where it is nineteen (19) years old, Nebraska where it is nineteen (19) years old (only for wards of the state), and Mississippi and Puerto Rico where it is twenty-one (21) years old.
  9. 1% Cash Back Graduation Reward subject to terms and conditions, click here for details.
  10. Students can apply to release their cosigner and continue with the loan in only their name after making the first 24 consecutive regularly scheduled full principal and interest payments on-time and meeting the other eligibility criteria to qualify for the loan without a cosigner.

* Application times vary depending on the applicants ability to supply the necessary information for submission.


* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
4 = Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.

5 Important Disclosures for PNC.

PNC Disclosures

  1. Interest will continue to accrue during periods of deferment. You will receive quarterly interest statements during this deferment period. Paying the interest as it accrues each quarter will save you money over the repayment term of the loan because any accrued interest that you do not pay will be added to the principal balance at the end of the deferment period.
  2. If automatic payment is discontinued, you will no longer receive an automatic payment discount. A federal regulation limits the number of transfers that may be made from a savings or money market account. Please contact your financial institution for more information on transfer limitations on savings accounts.
  3. A request to release a co-signer requires that you have made forty-eight (48) consecutive timely payments with no periods of forbearance or deferment within the forty-eight (48) month timeframe. “Timely payment” means each payment is made no later than the 15th day after the scheduled due date of the payment. “Consecutive payment” means the minimum monthly payment must be made for forty-eight (48) months straight without any interruption. To qualify for a co-signer release, the borrower must submit a request, meet the consecutive, timely payment requirements, provide proof of income and pass a credit check.

PNC Bank is one of the nation’s largest education loan providers. For over 40 years, PNC has been committed to helping students and their families make possible the adventure of college.


6 Important Disclosures for SunTrust.

SunTrust Disclosures

Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. To view and compare the available features of SunTrust private student loans, visit https://www.suntrust.com/loans/student-loans/private.

Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue this loan program without notice. Availability of all loan programs is subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.

SunTrust Bank, Member FDIC. ©2018 SunTrust Banks, Inc. SUNTRUST, the SunTrust logo and Custom Choice Loan are trademarks of SunTrust Banks, Inc. All rights reserved.

  1. Interest rates and APRs (Annual Percentage Rates) depend upon (a) the student’s and cosigner’s (if applicable) credit histories, (b) the repayment option and repayment term selected, (c) the requested loan amount and (4) other information provided on the online loan application. If approved, applicants will be notified of the rate applicable to your loan. Rates and terms effective for applications received on or after 10/01/2018. The current variable APRs for the program range from 4.001% APR to 13.001% APR and the current fixed APRs for the program range from 5.351% APR to 14.051% APR (the low APRs within these ranges assume a 7-year $10,000 loan, with two disbursements and no deferment; the high APRs within these ranges assume a 15-year $10,000 loan with two disbursements). The variable interest rate for each calendar month is calculated by adding the current One-month LIBOR index to your margin. LIBOR stands for London Interbank Offered Rate. The One-month LIBOR is published in the Money Rates section of The Wall Street Journal (Eastern Edition). The One-month LIBOR index is captured on the 25th day of the immediately preceding calendar month (or if the 25th is not a business day, the next business day thereafter), and is rounded up to the nearest 1/8th of one percent. The current One-month LIBOR index is 2.250% on 10/01/2018. The variable interest rate will increase or decrease if the One-month LIBOR index changes. The fixed rate assigned to a loan will never change except as required by law or if you request and qualify for the auto pay discount.
  2. Any applicant who applies for a loan the month of, the month prior to, or the month after the student’s graduation date, as stated on the application or certified by the school, will only be offered the Immediate Repayment option. The student must be enrolled at least half-time to be eligible for the partial interest, fully deferred and interest only repayment options unless the loan is being used for a past due balance and the student is out of school. With the Full Deferment option, payments may be deferred while the student is enrolled at least half-time at an approved school and during the six month grace period after graduation or dropping below half-time status, but the total initial deferment period, including the grace period, may not exceed 66 months from the first disbursement date. The Partial Interest Repayment option (paying $25 per month during in-school deferment) is only available on loans of $5,000 or more. For payment examples, see footnote 7. With the Immediate Repayment option, the first payment of principal and interest will be due approximately 30-60 calendar days after the final disbursement date and the minimum monthly payment is $50.00. There are no prepayment penalties.
  3. The 15-year term and Partial Interest Repayment option (paying $25 per month during in-school deferment) are only available for loan amounts of $5,000 or more. Making interest only or partial interest payments while in school deferment (including the grace period) will not reduce the principal balance of the loan. Payment examples within this footnote assume a 45-month deferment period, a six-month grace period before entering repayment and the Partial Interest Repayment option. 7 year term: $10,000 loan disbursed over two transactions with a 7 year repayment term (84 months) and a 8.468% APR would result in a monthly principal and interest payment of $199.90. 10 year term: $10,000 loan disbursed over two transactions with a 10-year repayment term (120 months) and an 8.938% APR would result in a monthly principal and interest payment of $162.92. 15 year term: $10,000 loan disbursed over two transactions with a 15-year repayment term (180 months) and a 9.423% APR would result in a monthly principal and interest payment of $136.90.
  4. The 2% principal reduction is based on the total dollar amount of all disbursements made, excluding any amounts that are reduced, cancelled, or returned. To receive this principal reduction, it must be requested from the servicer, the student borrower must have earned a bachelor’s degree or higher and proof of such graduation (e.g. copy of diploma, final transcript or letter on school letterhead) must be provided to the servicer. This reward is available once during the life of the loan, regardless of whether the student receives more than one degree.
  5. Earn an interest rate reduction for making automatic payments of principal and interest from a bank account (“auto pay discount”). Earn a 0.25% interest rate reduction when you auto pay from any bank account and an extra 0.25% interest rate reduction when you auto pay from a SunTrust Bank checking, savings, or money market account. The auto pay discount will continue until (1) automatic deduction of payments is stopped (including during any deferment or forbearance) or (2) three automatic deductions are returned for insufficient funds during the life of the loan. The extra 0.25% interest rate reduction when you auto pay from a SunTrust Bank account will be applied after the first automatic payment is successfully deducted and will be removed for the reasons stated above. In the event the auto pay discount is removed, the loan will accrue interest at the rate stated in your Credit Agreement. The auto pay discount is not available when payments are deferred or when the loan is in forbearance, even if payments are being made.
  6. A cosigner may be released from the loan upon request to the servicer provided that the student borrower is a U.S. citizen or permanent resident alien, has met credit criteria and met either one of the following payment conditions: (a) the first 36 consecutive monthly principal and interest payments have been made on-time (received by the servicer within 10 calendar days after their due date) or (b) the loan has not had any late payments and has been prepaid prior to the end of the first 36 months of scheduled principal and interest payments in an amount equal to the first 36 months of scheduled principal and interest payments (based on the monthly payment amount in effect when you make the most recent payment). As an example, if you have made 30 months of consecutive on-time payments, and then, based on the monthly payment amount in effect on the due date of your 31st consecutive monthly payment, you pay a lump sum equal to 6 months of payments, you will have satisfied the payment condition. Cosigner release may not be available if a loan is in forbearance.
  7. If the student dies after any part of the loan has been disbursed, and the loan has not been charged off due to non-payment or bankruptcy, then the outstanding balance will be forgiven if the servicer is informed of the student’s death and receives acceptable proof of death. If the student becomes totally and permanently disabled after any part of the loan has been disbursed and the loan has not been charged off due to non-payment or bankruptcy, the loan will be forgiven upon the servicer’s receipt and approval of a completed discharge application. If the student borrower dies or becomes totally and permanently disabled prior to the full disbursement of the loan, and the loan is forgiven, all future disbursements will be cancelled. Loan forgiveness for student death or disability is available at any point throughout the life of the loan.

7 Important Disclosures for LendKey.

LendKey Disclosures

Additional terms and conditions apply. For more details see LendKey


8 Important Disclosures for CommonBond.

CommonBond Disclosures

A government loan is made according to rules set by the U.S. Department of Education. Government loans have fixed interest rates, meaning that the interest rate on a government loan will never go up or down.

Government loans also permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled.

Depending on what type of government loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active-duty service member and you obtained your government loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan.
If you are unable to pay your government loan, the government can refer your loan to a collection agency or sue you for the unpaid amount. In addition, the government has special powers to collect the loan, such as taking your tax refund and applying it to your loan balance.

A private student loan is not a government loan and is not regulated by the Department of Education. A private student loan is instead regulated like other consumer loans under both state and federal law and by the terms of the promissory note with your lender.
If you refinance your government loan, your new lender will use the proceeds of your new loan to pay off your government loan. Private student loan lenders do not have to honor any of the benefits that apply to government loans. Because your government loan will be gone after refinancing, you will lose any benefits that apply to that loan. If you are an active-duty service member, your new loan will not be eligible for service member benefits. Most importantly, once you refinance your government loan, you will not able to reinstate your government loan if you become dissatisfied with the terms of your private student loan.

If your private student loan has a fixed interest rate, then that rate will never go up or down. If your private student loan has a variable interest rate, then that rate will vary depending on an index rate disclosed in your application. If the interest rate on the new private student loan is less than the interest rate on your government loans, your payments will be less if you refinance.
If you are a borrower with a secure job, emergency savings, strong credit and are unlikely to need any of the options available to distressed borrowers of government loans, a refinance of your government loans into a private student loan may be attractive to you. You should consider the costs and benefits of refinancing carefully before you refinance.

If you don’t pay a private student loan as agreed, the lender can refer your loan to a collection agency or sue you for the unpaid amount.

Remember also that like government loans, most private loans cannot be discharged if you file bankruptcy unless you can demonstrate that repayment of the loan would cause you an undue hardship. In most bankruptcy courts, proving undue hardship is very difficult for most borrowers.


9 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Student 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 October 1, 2018, the one-month LIBOR rate is 2.22%. Variable interest rates range from 4.19%-12.16% (4.19%-12.06% APR) and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a cosigner. Fixed interest rates range from 5.25%-12.19% (5.25% – 12.09% APR) based on applicable terms, level of degree earned and presence of a cosigner. Lowest rates shown requires application with a cosigner, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment 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. 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 the loan.
  2. Multi-year approval funds available for future use are subject to a soft credit inquiry at time of your next request to verify continued eligibility. After we make the initial Loan to you, we may refuse to allow you to take out additional loans under the multi-year approval feature, terms and conditions will be outlined in your promissory note. Please Note: International students are not eligible to receive an offer for multi-year approval. Please Note: International Students are not eligible for the multi-year approval feature.
  3. 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.
  4. 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.
  5. 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.
3.69%
10.94%
1
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4.34%
12.99%
2
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3.72%
9.68%
8
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4.19%
12.06%
9
Undergraduate, Graduate, and ParentsVisit Citizens
Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.