Business & Tech

New Loan Offering for Graduate Students at Citizens Bank

Students might qualify to defer payment of their loans for up to eight years while in school and receive a discount typically available only to bank employees.

Citizens Bank, including the bank branch inside Cranberry Giant Eagle and the Thorn Hill Industrial Park, is expanding its TruFit Student Loan product, with competitive rates, enhanced borrowing caps and deferment terms tailored especially for students attending MBA, law, dental, medical and other graduate programs.

“We are always looking for ways to help make the pursuit of higher education more affordable, and students pursuing advanced degrees have told us that a private student loan is very often the best choice for them,” said Daniel K. Fitzpatrick, president and CEO of Citizens Bank and RBS Citizens for Pennsylvania, New Jersey and Delaware. “Given the cost and duration of both full-time and part-time graduate programs, our graduate student loans are an extension of our commitment to make it easier for students to solve the financial puzzle of paying for their education while they pursue their chosen careers.”

With these loans, students studying to become medical doctors, doctors of osteopathic medicine, doctors of dental medicine or doctors of medical science can defer payment of their loans for up to eight years while in school (including undergraduate and graduate studies), followed by up to four years of residency and internship. Borrowers of the TruFit Student Loan for MBA, law and other graduate disciplines can defer payment of their loans for up to eight years while in school, including undergraduate and graduate studies.

The TruFit Student loan for graduate students comes with an interest rate as low as 2.69 percent. There are no application or origination fees with the TruFit Student Loan, a private student loan offering both fixed and variable rates and flexible repayment terms of five, 10 or 15 years. Borrowers and co-signers with a prior TruFit Student Loan or qualifying Citizens Bank account receive a 0.25 percent interest rate reduction on their loan.

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In addition, for a limited time this summer, Citizens Bank is offering an exclusive discount typically available only to bank employees: Borrowers who complete their TruFit Student Loan application now through Aug. 31, 2013 will automatically get a 0.25 percentage point interest rate reduction for the life of the loan. Borrowers can receive additional interest rate reductions for automating their payments as well as having other bank accounts, like a checking or savings account, with Citizens Bank. 

Students who open their first new Citizens Bank personal checking account now through Sept. 30, 2013 can earn a $25 bonus for making at least one single deposit of $250 and 20 debit card payments and purchases in the first 60 days.

To learn more about the TruFit Student Loan for graduate students, students can visit a Citizens Bank branch, apply online or speak to an education finance specialist between 8:30 a.m. and 8 p.m. weekdays at (800) 708-6684.


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