- Loan types
- Undergraduate, graduate, professional
- Fixed rates
- 4.24% to 12.24%
- Variable rates
- 4.89% to 12.89%
PNC Bank provides private student loans and refinancing for undergraduate, graduate and professional students. Students can borrow up to $50,000 per year, with a maximum combined federal and private student loan debt total of $225,000. Opting for automated payment gives you a 0.50% interest rate discount.
Repayment options are available as immediate, interest-only or deferred, and terms range from five to 15 years. Co-signers are not required for all applicants but are recommended for borrowers who do not meet the income or credit score criteria. Co-signers can be released from the loan after 48 months of consecutive on-time payments.
For all students except bar study applicants, loan funds are sent directly to the school. You will need to provide specific school details when applying, such as your enrollment date, expected graduation date and major. You will need to contact the school to see if and how you can access any excess funds.
PNC also offers $2,000 scholarships for 12 winners each year. Scholarships, unlike loans, are money that does not need to be repaid. To apply, create a free financial literacy account through PNC.?
- No prepayment penalty
- Automated payment discount
- Flexible repayment terms
- Not for international students
- Funds sent directly to school for most students
- Co-signer release option after 48 months
Many borrowers felt that PNC excelled in customer service and was happy to answer any question. Others felt that the customer service reps actually cared for the borrowers and worked hard to work with their budgets. One reviewer from Missouri loved working with PNC, saying, “They are willing to work with me to help me stay ahead. The repayment options is great. … I have always been lent enough to cover all of my schooling needs.”