Updated: August 21, 2022

Citizens One Undergraduate Student Loan Review

Undergraduate Student Loan

Advertising disclosure
Student Loan Rating
4 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.
3.99% - 9.93%
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.
Not Available
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), $150,000 (aggregate for undergraduates)

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

The bottom line:

Citizens One undergraduate 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.


  • 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


  • Interest rates are higher than some of their competitors
  • They charge a fee on late payments
  • You’ll be subject to a hard credit inquiry just to check rates
Citizens Bank Ascent Student Loans Earnest
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.
3.99% - 9.93%
Not Available
9.83% - 16.43%
9.05% - 15.32%
3.99% - 12.78%
3.58% - 12.28%
Loan repayment terms (Years) 5, 10, 15 years 5, 7, 10, 12, 15 years 5, 7, 10, 12, 15 years
Cosigner release? Yes, after 36 months on-time payments Yes, after 12 months on-time payments None

Being from a big bank, Citizens Bank’s undergraduate student loans might seem inflexible. Citizens One breaks that mold. Beyond having decent customer service, their terms for qualifying 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 $150,000 in aggregate loans as an undergraduate. Some of you may also be curious about cosigners. They’re optional with Citizens One, 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 roughly 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 Bank 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: $150,000
  • 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: Not specified by lender
  • 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: Not specified by lender
  • Maximum Deferment Period: Not specified by lender
  • Maximum Forbearance Period: 12 months
  • Cosigner Release Option: Yes, after 36 months on-time payments
  • Death Discharge: Yes
  • Disability Discharge: Yes
Customer Service
  • US-Based Call Center: Not specified by lender
  • Hours of Operation (in addition to weekdays): Not specified by lender
  • Application Timeline: 15 minutes to apply
  • Scholarship Search Tool: None
  • Sponsors a Scholarship: Yes
  • Job and Career Assistance: Yes
  • Financial Literacy Training: Yes
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