An Education Refinance Loan for Parents 1 could help you:. Save up to 2.91% on your interest rate by refinancing your Federal Parent PLUS loans.
A loan forbearance is pretty much the same thing, but is for people who do not qualify for a loan deferral. Forbearances are granted on a case-by-case basis, and allow people to postpone repaying their student loans for a fixed period of time. Both deferrals and forbearances have the same impact on your credit. The accuracy of the information provided on this form will be checked. If you have questions about the collection, use or disclosure of this.
2. Refinance loans for multiple children, even before you’ve made payments. Combine multiple federal and private loans into one convenient monthly payment. 3. Refinance various loans, including Federal Parent PLUS, private parent loans, or student loans that you co-signed.
Lower your rate, your payment, or both. You did right by your kids, now let Citizens Bank do right by you. Get your personalized rate in under 2 minutes Find out what your rate and monthly savings could be in less than two minutes before you refinance your loans. Simply enter in a few pieces of information and we will provide you with your interest rate options, without affecting your credit. Reduce your interest rate with the following discounts when you consolidate or refinance your student loan debt with us:. Loyalty Discount: 0.25 percentage points off your interest rate on a new Education Refinance Loan if you or your co-signer (if applicable) has a qualifying account with us when you apply.
6. Automatic Payment Discount: 0.25 percentage points off your interest rate by authorizing our loan servicer to automatically deduct your payments each month from any bank account. 7. We offer low, competitive fixed and variable interest rates, and you can choose how long you take to repay your loan (5, 7, 10, 15, and 20 year options).
1 Education Refinance Loan for Parents Eligibility: Primary borrowers 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.
The co-signer (if applicable) must be a U.S. Citizen or permanent resident with a valid U.S. Social Security Number residing in the United States. For applicants who have not attained the age of majority in their state of residence, a co-signer will be required. Citizens Bank reserves the right to modify eligibility criteria at anytime.
Interest rate ranges subject to change. Education Refinance Loans for Parents are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information and certification of borrower’s student loan amount(s). 2Interest rate savings are calculated as the difference between the Citizens Bank Education Refinance Loan for Parents' lowest offered fixed rate of 4.69% (4.69% APR) and the Federal Parent PLUS Loan interest rate of 7.60% for loans first disbursed between July 1, 2018 and June 30, 2019. The Citizens Bank Education Refinance Loan for Parents lowest rate includes the available Citizens Bank loyalty and automatic payment discounts for eligible and creditworthy applicants. 3 Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer with the Education Refinance Loan for Parents.
Borrowers should carefully review their current benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans and replace those with the benefits of the Education Refinance Loan. For more information about federal student loan benefits and federal loan consolidation, visit. We also have several resources available to help the borrower make a decision at including and our FAQs.
Includes a comparison of federal and private student loan benefits that we encourage the borrower to review. 4 Education Refinance Loan for Parents Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ('LIBOR') published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month.
As of January 1, 2019, the one-month LIBOR rate is #ProductLine=Edfi Brand=citizensbank ProductAttribute=libor::libor#%.