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Citizens One Parent Student Loan Review
Student Loan for Parents
Rewards: Autopay Discount, Current Customer Discount
Flexibility: Multi-Year Option available
Yearly Loan Limits: 100% Cost of Attendance
Overall Loan Limits: $1,000 (minimum), $350,000 (aggregate maximum)
Cosigner Terms: Cosigner optional, does not offer Cosigner Release
Rewards: Autopay Discount, Current Customer Discount
Flexibility: Multi-Year Option available
Yearly Loan Limits: 100% Cost of Attendance
Overall Loan Limits: $1,000 (minimum), $350,000 (aggregate maximum)
Cosigner Terms: Cosigner optional, does not offer Cosigner Release
The bottom line
With some of the most straightforward qualification requirements, Citizens One by Citizens Bank offers a fairly flexible Parent Loan. Though their rates are above average, they offer a current customer discount and a multi-year option (saving you the hassle of re-applying every year).
Pros- Available in all 50 states
- Offers a Multi-Year Option
- Covers up to 100% of yearly Cost of Attendance
Cons- Does not offer cosigner release
- Charges a fee on late payments
- Only available to U.S. citizens and permanent residents
Loan comparison
Full review
Citizens Bank’s Citizens One Parent Loans are among the most highly rated when it comes to qualifying. First off, they will lend up to the full annual cost of attendance and have a high aggregate lending maximum per borrower. They lend in all 50 states, you don’t have to be a family member of the student to borrow, and Citizens One will not be monitoring the student’s GPA.
Needless to say, although a cosigner is optional, they do not offer cosigner release. If you’re late on your payments, Citizens One will charge you a fee. And repayment-wise, they do not have a full deferment option and only offer two repayment terms (5 years or 10 years).
Most importantly, you’ll likely find lower costs with other lenders. Citizens One does offer an autopay discount and a current Citizens Bank customer discount, so you do have plenty of options to lower the rate they offer you initially.
Citizens Bank - Student Loan for Parents
Other loans that Citizens Bank offers:
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