Citizens
As a leader in student lending with more than 40 years’
experience, Citizens helps families fund the college dream or
refinance education loans. Whether you’re looking to lower your
student loan rates, lower your monthly payment or pay off your
loans faster, this program could help make paying for school
easier and more affordable.
About the Offer:
-
As a My
Better Benefits member, you or a family member are
eligible to receive a principal credit reduction for 1% of
your loan amount up to $10001
on an Education Refinance Loan, an Education Refinance
Loan for Parents or a Medical Residency Education Refinance
Loan.
In addition
members could save up to 0.50% interest rate reduction
with Loyalty and Automatic Payment discounts.2
With no
application, origination or disbursement or pre-payment penalty
fees, the Citizens Education Refinance Loan program could help
you to:
-
Lower your monthly
payment to put more money back in your monthly budget
-
Lower your interest
rate if you’re paying higher rates on old student loans
-
Pay off your loans
faster by paying more towards your principal balance
-
Lock in a fixed-rate
loan
Members could see their rate and potential savings in minutes, with no impact to their credit score.3
Student Lending
Specialists at Citizens are available to talk with you about
your specific circumstances and existing loans.
For more
information on this benefit and to apply click
here
When is the right time to refi?
Private student loan refinance
rates are still low. Depending on your unique financial
situation, it might be a good idea to review your student loans
and consider your options.
Whether you have federal
student loans, private student loans or both, consider
refinancing part or all of your student loan debt. We recommend
that all borrowers with federal student loan debt carefully
consider their options before refinancing with a private student
loan.
If you have private student
loans in your portfolio, you might consider refinancing those
now to take advantage of today’s low rates.
For more details and to apply,
please select the Apply Now button below or call
1-888-411-2389
to speak with a Citizens Student Lending Advisor who is
dedicated to helping you find solutions tailored to your needs.
1
To
qualify for the principal balance reduction, the borrower or
co-signer (if applicable) must have applied, be approved, and
disburse a Citizens Education Refinance Loan, Education
Refinance Loan for Parents, Student Loan, Student Loan for
Parents, Bar Study Loan, or Medical Residency Loan through the
employer’s or partner’s dedicated Citizens website. The
principal balance reduction will be calculated as 1% of the
amount financed with a maximum of $1,000 for the Education
Refinance Loan and Education Refinance Loan for Parents, a
minimum of $50/maximum of $500 for the Student Loan or Student
Loan for Parents, a minimum of $50/maximum of $160 for the Bar
Study Loan, and a minimum of $50/maximum of $200 for the Medical
Residency Loan. The loan must be in good standing at the time
the Principal Balance Reduction Benefit is applied. Only one
Principal Balance Reduction Benefit is allowed per primary
borrower for the Citizens Education Refinance Loan and Education
Refinance Loan for Parents or per loan for the Citizens Student
Loan, Student Loan for Parents, Bar Study Loan, and the Medical
Residency Loan. Principal balance reduction will be applied with
an effective date equal to the loan’s first disbursement date.
Principal balance reduction may take up to the second month
following the loan’s final disbursement date to be applied and
may be reduced if the loan amount is reduced or cancelled. The
Principal Balance Reduction Benefit will be processed as a
reduction of the loan’s principal balance and will not impact
the required monthly payment. The borrower is solely responsible
for any taxes that may be owed as a result of the principal
balance reduction earned. A tax advisor should be consulted.
Citizens Bank, N.A. does not provide tax advice. Offer cannot be
combined with other promotions, discounts or offers – automatic
payment and loyalty discounts excluded. Citizens reserves the
right to modify these terms or cancel this offer at any point in
the future for new applications.
2
Loyalty Discount Disclosure: The borrower will be eligible for a
0.25 percentage point interest rate reduction on their loan if
the borrower or their co-signer (if applicable) has a qualifying
account in existence with us at the time the borrower and their
co-signer (if applicable) have submitted a completed application
authorizing us to review their credit request for the loan. The
following are qualifying accounts: any checking account, savings
account, money market account, certificate of deposit,
automobile loan, home equity loan, home equity line of credit,
mortgage, credit card account, or other student loans owned by
Citizens Bank, N.A. Please note, our checking and savings
account options are only available in the following states: CT,
DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may
have an associated cost. This discount will be reflected in the
interest rate disclosed in the Loan Approval Disclosure that
will be provided to the borrower once the loan is approved.
Limit of one Loyalty Discount per loan and discount will not be
applied to prior loans. The Loyalty Discount will remain in
effect for the life of the loan.
Automatic Payment Discount
Disclosure: Borrowers will be eligible to receive a 0.25
percentage point interest rate reduction on their student loans
owned by Citizens Bank, N.A. during such time as payments are
required to be made and our loan servicer is authorized to
automatically deduct payments each month from any bank account
the borrower designates. Discount is not available when payments
are not due, such as during forbearance. If our loan servicer is
unable to successfully withdraw the automatic deductions from
the designated account three or more times within any 12-month
period, the borrower will no longer be eligible for this
discount.
3
Get Started: Get my RATE: Selecting "Get Started" only requires
a "soft credit pull" which does not affect your credit score.
Submitting a full application will result in an inquiry on your
credit report.
Wireless Charges: Wireless carrier,
text, and/or data charges may apply.
Copyright 2022 Citizens Financial Group, Inc. All rights
reserved.
Citizens is a brand name of Citizens Bank, N.A.
