PNC Bank Undergraduate Student Loan Review
Undergraduate Loans
Rewards: Autopay Discount
Yearly Loan Limits: $75,000
Overall Loan Limits: $225,000 (aggregate maximum)
Cosigner Terms: Cosigner optional, allows for Cosigner Release after 48 on-time monthly payments
If you’re in the market for a student loan from a notable bank, PNC Bank should be one of the top on your list. Though their $75,000 annual borrowing limits may not be enough to cover the full cost of attendance at your college, they do offer short repayment terms and a higher-than-average autopay discount.
Pros
- Offers a repayment term of 5 years (among others)
- Offers a higher-than-average autopay discount (0.50%)
- Performs a soft credit inquiry if you want to check your rates, and gives you a preliminary decision within minutes
Cons
- Charges a fee on late payments
- Limits annual borrowing to $75,000 (not your Cost of Attendance)
- Cosigner release available after 48 on-time monthly payments (which is more than usual)
How does this loan compare?
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| 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:
4.39% - 11.29%
Variable:
5.89% - 15.39%
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Fixed:
3.59% - 17.99%
1
Variable:
5.59% - 17.99%
1
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Fixed:
3.69% - 16.49%
Variable:
5.62% - 16.85%
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| Loan repayment terms (Years) | 5, 10, 15 years | 5, 8, 10, 15 years | 5, 7, 10, 12, 15 years |
| Cosigner release? | Yes, after 48 months on-time principal and interest payments | Yes, after 24 months on-time principal and interest payments | None |
Full Review
PNC Bank’s undergraduate student loan offers a lot of features you’ll see in other top lenders. That includes no application, origination or guarantee fees, and no prepayment penalties either. Though they don’t offer many rewards, their autopay discount is double what you would find for the vast majority of other student loans. And if you’re curious about what your rate will be, they’ll only perform a soft credit inquiry to check that.
In terms of borrowing limits, there’s some good and some bad. The good news: they have an aggregate borrowing limit of $225,000, which should be enough for most borrowers. The bad news: if you need to borrow up to the full cost of your attendance in any given year, the max PNC Bank will let you borrow is $75,000. Cosigner-wise, they offer cosigner release, but only after 48 on-time monthly payments, which is higher than average.
PNC Bank - Private Student Loan Details
- Credit Check: Not specified by lender
- Repayment Terms: 5, 10, 15 years
- Minimum Borrowing Limit: Not specified by lender
- Yearly Borrowing Limit: $75,000
- Aggregate Borrowing Limit: $225,000
- Application Fee: None
- Origination Fee: None
- Prepayment Penalty: None
- Late Fee: Yes
- Minimum Credit Score: Not specified by lender
- Minimum Annual Income: Not specified by lender
- Citizenship Restriction: Citizens or Residents
- Minimum Enrollment Restriction: Half-Time
- List of States where Loan is Not Available: None
- Approved Schools Include: Not specified by lender
- Immediate Principal and Interest Repayment: Yes
- Fixed Monthly Repayment: None
- Interest-Only Repayment: Yes
- Full Deferment: Yes
- Length of Grace Period: 6 months
- Maximum Deferment Period: 36 months
- Maximum Forbearance Period: Not specified by lender
- Cosigner Release Option: Yes, after 48 months on-time principal and interest payments
- Death Discharge: Yes
- Disability Discharge: Yes
- US-Based Call Center: Yes
- Hours of Operation (in addition to weekdays): No Evenings or Weekends
- Application Timeline: Preliminary decision within minutes
- Scholarship Search Tool: None
- Sponsors a Scholarship: Yes
- Job and Career Assistance: None
- Financial Literacy Training: Yes
Other Loans that PNC Bank Offers:
