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    Student Loan Refinancing

    What could you do with an extra $264* a month?
    Refinance and find out.

    Rates as low as

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    #ProductLine=Edfi|Brand=citizensbank|ProductSet=erlProductSet|Disclosure=disclosure|DisclosureName=allfixed|DisclosureAttribute=APRMin# APR Fixed1

    Calculate My Rate


    Please read carefully while considering to refinance your federal student loans:

    The federal government announced that interest will not accrue and payments will not be due for a period of 6 months on federal student loans. We recommend that all customers with federal student loan debt carefully consider their options before refinancing with a private student loan. This interest free period is beneficial to customers and we advise you to consider these benefits during the six month period and over the life of the loan prior to refinancing. When you refinance, you waive any current and potential future benefits of your federal loans and replace those with the benefits of the Education Refinance Loan.

    Depending on your rate and amount borrowed, refinancing may still be a good lifetime savings option for you. We are here to help you think through what might be your best option. Please call us at 1-800-708-6684.

    Please carefully review your current and potential future benefits on your federal loans before refinancing.

    You’re ready for some extra money

    People can save an average of $3,168 per year* when they refinance their federal and private loans with Citizens Bank. That’s a couple hundred bucks each month you could put towards turning a passion into a business, starting a family, getting married, or moving into a new home. You could reduce your monthly payment, lower your interest rate, remove a co-signer, and more. Get started today and see how much you could save.

    Parents, we have refinancing options for you, too.

    • Fixed Rates

      #ProductLine=Edfi|Brand=citizensbank|ProductSet=erlProductSet|Disclosure=disclosure|DisclosureName=allfixed|DisclosureAttribute=MinRate# - #ProductLine=Edfi|Brand=citizensbank|ProductSet=erlProductSet|Disclosure=disclosure|DisclosureName=allfixed|DisclosureAttribute=MaxRate# APR1

      Your interest rate will remain constant over the life of your loan and your monthly payment amount will remain the same.

      Rate and Repayment Examples
    • Variable Rates

      #ProductLine=Edfi|Brand=citizensbank|ProductSet=erlProductSet|Disclosure=disclosure|DisclosureName=allvariable|DisclosureAttribute=MinRate# - #ProductLine=Edfi|Brand=citizensbank|ProductSet=erlProductSet|Disclosure=disclosure|DisclosureName=allvariable|DisclosureAttribute=MaxRate# APR1

      Get a potentially lower rate and lower monthly payments. The interest rate will fluctuate monthly, and therefore, your monthly payment amount will vary over time.

      Rate and Repayment Examples

    3 Reasons to Choose Citizens Bank

    • Lower rates

      Discounts of up to 0.50%2

      With our competitive fixed and variable rates, you could save an average of $264 each month or $3,168 annually*. You can also fix a variable-rate loan to get predictable monthly payments and peace of mind.

      View our rates

    • Lower payments

      Payments on your terms

      With our low rates and flexible terms of 5, 7, 10, 15 or 20 years, you may be able to lower your monthly payments, giving you more room in your budget.

    • Time savings
      and convenience

      A single payment

      Combine all your federal and private loans and undergraduate and graduate loans into one loan, allowing you to make one low monthly payment to one lender3. We are here to help.

    Student Loan Refinancing Features

    • Repayment

      Choose from 5, 7, 10, 15 and 20-year repayment periods, depending on your budget.
      After making 36 consecutive on-time payments of principal and interest, a borrower may apply to release the cosigner from their Loan.4

      View our repayment examples.

    • Eligibility5

      • At least $10,000 in student loans to refinance
      • US Citizens, permanent residents and resident aliens with a valid U.S. Social Security Number can apply
      • Applicants with an Associate’s degree or with no degree must have made at least 12 qualifying payments after leaving school
    • Loan Amounts


      $300,000 (Bachelor's degree or below)
      $500,000 (Graduate degree)

    3 Easy Steps to Apply

    You’re busy. We get that. So, we’ve made applying for the Education Refinance Loan fast and easy. You can do it in 15 minutes with 3 easy steps.
    Apply Now


    Complete the online application

    Apply from your computer or mobile device6. You also have the option to add a cosigner, which may increase your likelihood of approval, and getting the most favorable rate.


    Select your rate and terms

    Choose a fixed or variable rate, the loan term, and how and when you want to repay the money.


    Sign and accept.

    You and your cosigner (if applicable) will sign and accept your loan documents electronically.

    Learn More About Refinancing your Student Loans

    Wondering if refinancing is right for you? Here is some information to assist you. Of course, if you have any additional questions, you’re always welcome to Ask a Citizen.

    • What information will I need to get my rate?
      You will need the following personal information in order to find out your rate and savings:
      • Name
      • Address
      • Date of Birth
      • Social Security Number
      • Email Address
      • Phone Number
      • Highest Degree Attained
      • Total Amount to Refinance
      • Total Current Monthly Payments
      • Total Current Monthly Income
      • Total Current Monthly Rent or Mortgage Payment
    • Will getting my rate have an impact on my credit score?
      Selecting "Calculate My Rate" only requires a "soft credit pull" which does not affect your credit score. Submitting a full application results in an inquiry on your credit report.
    • Which loans can I include in my refinancing?

      You can include any student loan debt used for financing your education (for example, Citizens Bank Student Loans, other private student loans from other lenders, or your federal loans like Federal Direct PLUS or Stafford loans)3. You cannot include any other debt (for example, credit card or mortgage), even if it was used to pay education expenses. Other non-collegiate loans are also ineligible, such as primary school (K-12) and college prep loans.

      You may also be able to refinance your student loan debts, even if you previously consolidated them into a single loan.

      Our application has a list of the most common loan servicers; however, you may submit loans for which the servicer is not on our list. When we review your application, we will review whether loans from that servicer may be refinanced.

    • Do you offer cosigner release for the Education Refinance Loan?
      Borrowers may apply for cosigner release after making 36 consecutive on?time payments of principal and interest. When applying for cosigner release, a credit review will be performed to ensure the borrower meets certain credit and eligibility guidelines for holding the loan on their own. For the purpose of cosigner release, on?time payments are defined as being made within 15 days of their due date. Borrowers who use deferment or forbearance will need to make 36 consecutive on?time payments after reentering repayment to qualify for release. Borrowers must complete an application for release and provide income verification documents as part of the review. Those interested can request an application for release by calling our trusted servicing partner, Firstmark Services, at 866?259?3767.
    • Am I eligible to refinance?
      • The student loans you refinance must be in repayment and you cannot currently be attending school. If you are currently enrolled in school and are seeking additional financing, please consider the Citizens Bank Student Loan.
      • You must be a U.S. citizen, permanent resident or resident alien with a valid U.S. Social Security Number, residing in the United States. Resident aliens must apply with a co?signer who is a U.S. citizen or permanent resident.
      • You must have at least $10,000 in student loans to refinance.
      • Applicants with an Associate’s degree or with no degree must have made at least 12 qualifying payments after leaving school.

      For more information about eligibility requirements, speak to a Student Lending Specialist.

                    Want to learn more? See our FAQs section.

    Speak with a Student Lending Advisor

    Mon – Fri: 8:00 am – 9:00 pm ET
    Sat: 8:30 am – 5:00 pm ET

    Estimate My Savings

    Questions? Ask a Citizen.
    Questions? Ask a Citizen.

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