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Updated: October 29, 2024

Citizens One Undergraduate Student Loan Review

Undergraduate Student Loan

Citizens Bank logo
Citizens Bank
Fixed apr
3.99% - 15.61%
Variable apr
5.89% - 16.51%
Repayment terms
5, 10, 15 years

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.

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
  • 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

Full review

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 - Undergraduate Student Loan

Check rates

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.

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