PROVIDENCE – An Education Refinance Loan to offer another option for students considering refinancing their private student loan debt is being offered by Citizens Bank. The loan enables borrowers to consolidate or refinance the debt at a competitive rate with flexible repayment terms, according to a Jan. 14 announcement by Citizens Bank.
“Private student loan borrowers have historically had a limited number of refinancing options available to them,” said Brendan Coughlin, head of education and auto finance for RBS Citizens Financial Group. “After graduation, many students successfully build their credit and are off to a promising start to their career, and they deserve more flexibility regarding their student loans. Our new Education Refinance Loan offers qualified borrowers an option to change the terms of their loans to better meet their current life situation.”
The loan offers interest rates as low as 2.82 percent, with no application, origination or disbursement fees, and refinancing is available with either a fixed or variable rate. Borrowers and co-signers with a prior TruFit Student Loan or qualifying Citizens Bank account receive a.25 percent interest rate reduction on their loan.