Updated: August 9, 2023

Citizens One Graduate Student Loan Review

Graduate School Loans

Pricing disclosure
Graduate
Student Loan Rating
4.5 of 5
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
4.99% - 11.42%
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
6.03% - 12.78%
Repayment Terms
5, 10, 15 years
Important Information

Rewards: Auto-debit Discount, Current Customer Discount, and Multi-Year Option

Yearly Loan Limits: Covers up to 100% of your Cost of Attendance

Overall Loan Limits: $1,000 (minimum), $350,000 (aggregate for graduate students)

Cosigner Terms: Cosigner is optional, offers Cosigner Release after 36 on-time monthly payments

The bottom line:

Citizens Bank’s private student loans are among the most flexible when it comes to satisfying credit requirements, and they even offer a multi-year option (saving you the hassle of re-applying). Their rates are not the lowest you’ll find in the market, but they do offer a current customer discount.

Pros

  • Can borrow up to the full cost of attendance
  • Provides a multi-year borrowing approval option
  • Provides an auto-debit discount and a current customer discount

Cons

  • They charge a fee on late payments
  • You’ll be subject to a hard credit inquiry just to check rates
  • Their interest rates are slightly better than average, but not the lowest
Citizens Bank College Ave Ascent Student Loans
Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time. Interest rates listed include an autopay discount if available.
Fixed:
4.99% - 11.42%
Variable:
6.03% - 12.78%
Fixed:
4.07% - 14.49% 1
Variable:
5.59% - 14.49% 1
Fixed:
5.01% - 14.81%
Variable:
6.70% - 15.19%
Loan repayment terms (Years) 5, 10, 15 years 5, 8, 10, 15 years 7, 10, 12, 15 years
Cosigner release? Yes, after 36 months on-time principal and interest payments Yes, after 24 months on-time principal and interest payments Yes, after 12 months on-time principal and interest payments

Being from a big bank, Citizens Bank’s student loans might seem inflexible. Citzens One graduate student loans break that mold. Beyond having decent customer service, their terms for qualifying for graduate loans are among the least stringent you’ll find. They also offer a multi-year option, meaning you won’t have to re-apply for financing after every year of study. And if you’re a current Citizens Bank customer, enjoy a 0.25% discount on your rate!

If you’re worried about being limited to a certain borrowing limit every year, Citizens One actually allows you to borrow up to the full cost of attendance. Note, you are limited to $350,000 in aggregate loans as a graduate student. Some of you may also be curious about cosigners. They’re optional with Citizens One graduate student loans, and, if you do end up having one, you’ll be able to apply for cosigner release after 36 months of on-time payments.

On the flip side, their rates are somewhat higher-than-average, meaning you’ll find a lower cost loan elsewhere. And even though they don’t charge application, origination and guarantee fees, they will charge you a fee on late payments. Lastly, while other lenders will only perform a soft pull on your credit for checking their rates, Citizens One will perform a hard credit inquiry from the start.

Citizens Bank - Private Student Loan Details

Interest Rates, Fees and Terms
  • Credit Check: Soft for Rate Check, Hard for Application
  • Repayment Terms: 5, 10, 15 years
  • Minimum Borrowing Limit: $1,000
  • Yearly Borrowing Limit: 100% of Cost of Attendance
  • Aggregate Borrowing Limit: $350,000
  • Application Fee: None
  • Origination Fee: None
  • Prepayment Penalty: None
  • Late Fee: Yes
Requirements to Qualify
  • Minimum Credit Score: Not specified by lender
  • Minimum Annual Income: $12,000
  • Citizenship Restriction: Available to Citizens, Permanent Residents, and International Students with a credit-worthy Citizen or Permanent Resident cosigner
  • Minimum Enrollment Restriction: Half-Time
  • List of States where Loan is Not Available: None
  • Approved Schools Include: All
Repayment Options
  • Immediate Principal and Interest Repayment: Yes
  • Fixed Monthly Repayment: None
  • Interest-Only Repayment: Yes
  • Full Deferment: Yes
Repayment Details
  • Length of Grace Period: 6 months
  • Maximum Deferment Period: Not specified by lender
  • Maximum Forbearance Period: 12 months
  • Cosigner Release Option: Yes, after 36 months on-time principal and interest payments
  • Death Discharge: Yes
  • Disability Discharge: Yes
Customer Service
  • US-Based Call Center: Yes
  • Hours of Operation (in addition to weekdays): Not specified by lender
  • Application Timeline: 15 minutes to apply
Extras
  • Scholarship Search Tool: None
  • Sponsors a Scholarship: Yes
  • Job and Career Assistance: Yes
  • Financial Literacy Training: Yes
Wondering how much that loan is going to cost you? Check out our free Loan Calculator!
Input your loan terms and we’ll tell you how much you can expect to pay monthly and in total

Savingforcollege.com provides our readers with free access to objective information, articles and tools to help them make informed decisions about saving and paying for education. We are able to do this because we are compensated by our partners, including some private student lenders. Some, though not all, of the products featured here are offered by partners who may pay us a sales commission. Our partnerships do not influence our ratings or reviews, which are based on in-depth research and objective methodologies, though they may influence which products we write about and where those products appear on our site. Our opinions are our own.