6 Banks That Offer Student Loans
Do you still need extra funding to pay for college? If you have already maxed out your options for federal loans, you might consider exploring banks that offer student loans.
Finding such a bank can be tricky. Only a small number of financial institutions across the United States provide these services. We’ve rounded up a list of banks and online lenders with student loan offerings.
Located in 14 states with approximately 1,200 branches, Citizens does offer undergraduate student loans. Applicants may choose student loans with competitive variable rates (starting as low as 5.10%) or fixed rates (as low as 4.99%), according to the Citizens website.
Benefits of a Citizens student loan include the opportunity to apply for a student loan with multi-year approval, flexible terms and zero application fees. Other student loans offered by Citizens include graduate student loans, student refinance loans and parent loans.
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PNC offers a fleet of private student loans in its student lending center. These include undergraduate loans, graduate and professional loans and education refinancing.
Undergraduate students enrolled in degree or certificate programs part time are encouraged to consider the PNC Solution Loan for college expenses. This private loan helps fill the gap when other forms of financial aid do not cover all expenses.
Rates, according to the PNC website, are as low as a 5.64% variable APR and a 4.49% fixed APR. These rates also include a 0.50% discount for automated payment. Students who receive a PNC Solution Loan will enjoy benefits, including no application or origination fees, co-signer release options and customized payment plans.
Education Loan Finance (SouthEast Bank)
Customers of SouthEast Bank may receive private student loans via Education Loan Finance (ELFI).
The ELFI difference, according to the ELFI website, means student loans come with some of the lowest rates available and ease in refinancing or consolidating loans.
Completing the online application process pairs applicants with a student loan advisor who provides guidance throughout each step. Prequalify and see personalized rates within minutes without any impact to your credit score. Then apply for the plan with the best rates, terms and payments to meet your needs. Upload your documents and sign paperwork electronically to take out your loan.
College Ave Student Loans
If you read the fine print on the College Ave Student Loans website, you’ll notice these products are made available through Firstrust Bank, First Citizens Community Bank and M.Y. Safra Bank. Other banks, including Origin Bank and American Savings Bank Hawaii, have also partnered with College Ave Student Loans to help undergraduates, graduates and parents reach their higher education goals.
College Ave Student Loans creates funding designed to fit your budget and goals. Rates for undergraduate loans start at 4.74%. Those applying for undergraduate loans through College Ave Student Loans will receive flexible repayment options and loan payments on their terms.
While SoFi may not be a traditional institution, the online lender does offer private student loans.
Applicants who choose private student loans through SoFi receive low fixed or variable rates on their loans. Additional benefits include no fees, flexible repayment options and unemployment protection. Private student loans are available through SoFi for undergraduate loans, graduate loans, law and MBA loans, parent loans and health profession loans.
Undergrads seeking student loan funding may consider taking out a student loan through Discover.
Rates, according to the Discover student loans homepage, start at 5.87% for variable rates and 5.49% for fixed rates. Additional benefits include the ability to customize your loan’s rate and repayment options and pay zero fees.
There is also a cash reward available for students who receive good grades. Students who receive at least 3.0 GPAs (or equivalent) qualify for one-time cash rewards on new Discover student loans.
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