Citizens Bank/Citizens One Reviews: Student Loan Refinancing and Private Student Loans
Citizens One lets borrowers who aren't U.S. citizens take out and refinance student loans.
Student loan ratings

Student loan refinancing
Private student loan
The bottom line: Citizens Bank is a traditional bank whose Rhode Island roots go back to 1828. Its national lending division, Citizens One, offers student loans and student loan refinancing. Its refinancing loan is best for financially stable borrowers who didn't graduate or who aren't U.S. citizens. Its private loan is best for international students and existing Citizens Bank customers.
Student loan refinancing review

on Citizens Bank's website
Citizens One Student Loan Refinance
4.5
NerdWallet ratingon Citizens Bank's website
Fixed APR
2.89 - 9.10%
Variable APR
2.19 - 8.85%
Min. Credit Score
Does not disclose
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- You can refinance parent PLUS loans in your name.
- Loyalty discount: Borrowers with a Citizens Bank account when they apply get an additional 0.25% interest rate discount.
Cons
- Estate is still responsible for loans refinanced by parents if the borrower dies.
Best for existing Citizens Bank customers or borrowers who didn't graduate or aren't U.S. citizens.
Full Review
Citizens One offers two refinancing options: one for loans in the student's name, and one for loans in the parent's name. Both are good for existing Citizens customers, as the lender offers a 0.25 percentage point interest rate discount for borrowers who have a qualifying account with the bank.
Beyond that, refinancing through Citizens One is a solid option for students who are financially stable but didn't graduate, as well as non-U.S. citizens with a qualifying co-signer. It's less ideal if you want to take over your parents' loans. Citizens' process is more complex than with other lenders: Your parent needs to refinance first with you as a co-signer, then you can apply to refinance on your own.
Citizens one STUDENT LOAN REFINANCING AT A GLANCE
Borrowers without a degree can refinance.
Offers personalized rate estimates via a soft credit check.
Loan qualifies for co-signer release after 36 months of on-time payments.
HOW Citizens one COULD IMPROVE
Citizens One could improve its student loan refinance product by:
Disclosing minimum credit score and income requirements.
Allowing biweekly payments via autopay.
Citizens One student loan refinancing details
Before refinancing with Citizens One
Before deciding on a student loan refinance lender, compare multiple student loan refinance options to make sure you’re getting the best rate you qualify for. In addition to interest rates, compare lenders’ repayment options and the flexibility they offer borrowers who are struggling to make payments.
If you aren’t eligible to refinance with Citizens One
If Citizens One denies your refinance application, the lender will let you know why. Depending on the reason, you may want to consider other lenders or need a co-signer.
NerdWallet recommends prequalifying with multiple refinance lenders before you apply. This will let you know which lenders you may be eligible with, without affecting your credit.
How does this loan compare?
Check Rate | Check Rate | Check Rate |
Fixed APR2.89 - 9.10% | Fixed APR2.99 - 6.99% | Fixed APR2.79 - 5.99% |
Variable APR2.19 - 8.85% | Variable APR2.25 - 6.53% | Variable APR2.39 - 6.01% |
Min. Credit ScoreDoes not disclose | Min. Credit ScoreDoes not disclose | Min. Credit Score680 |
Private student loan review

on Citizens Bank's website
Citizens One Private Student Loan
4.0
NerdWallet ratingon Citizens Bank's website
Fixed APR
4.24 - 11.61%
Variable APR
1.68 - 11.33%
Min. Credit Score
Does not disclose
Pros
- Six-month grace period extension is available.
- Loyalty discount for existing Citizens Bank customers.
- Multiyear loan approval is available.
Cons
- You must be pursuing a bachelor’s degree or higher.
- You can’t see if you’ll qualify and what rate you’ll get without a hard credit check.
Best for existing Citizens Bank customers.
Full Review
Citizens One private student loans are best for international students with a qualifying co-signer and those with an existing relationship with the bank. Citizens One offers a 0.25 percentage point interest rate discount for applicants with a qualifying Citizens Bank account.
Citizens One is not a good option if you're attending a community college or taking a certificate course at a four-year school. Students must be pursuing a bachelor's degree or higher to qualify.
Citizens One offers multiyear approval for student loans. After freshman year, you can request loans for subsequent school years without you or your co-signer undergoing a hard credit check, which affects your credit. International students cannot receive multiyear approval.
Citizens One private student loan at a glance
No personalized rate estimates via a soft credit check.
International students can qualify with a co-signer.
Loan qualifies for co-signer release after 36 on-time payments.
How Citizens One could improve
Citizens One could improve its private student loans by offering:
Minimum credit score and income requirements.
Personalized rate estimates via a soft credit check.
Citizens One private student loan details
Before applying for a Citizens One student loan
Before taking out a Citizens One student loan or any other private student loan, exhaust your federal student loan options first. Submit the Free Application for Federal Student Aid, known as the FAFSA, to apply.
» MORE: NerdWallet’s FAFSA Guide
Compare your private student loan options to make sure you’re getting the best rate you qualify for. In addition to interest rates, look at lenders’ repayment alternatives and the flexibility they offer to borrowers who struggle to make payments.
If you aren’t eligible for a Citizens One student loan
If Citizens One denies your student loan application, the lender will let you know why. Depending on the reason, you may want to consider other lenders or, if you haven’t already, try applying with a co-signer.
If you don’t have access to a co-signer — or still aren’t eligible with one — consider lenders that don’t require co-signers or specialize in bad or no credit student loans.
STUDENT LOANS RATINGS METHODOLOGY
NerdWallet believes the best student loan is one you can repay at the lowest interest rate you can get. That's why NerdWallet’s student loan ratings reward lenders that offer a variety of loan terms, limit their fees and penalties, and extend borrowers multiple options to avoid default. Points are also awarded for soft credit checks, underwriting transparency and other consumer-friendly features. Use these ratings as a guide, but we encourage you to shop around for the lowest interest rate you can qualify for. NerdWallet does not receive compensation for its reviews. Read our editorial guidelines.
Find the Right Student Loan
Frequently asked questions
NerdWallet rates Citizens Bank as a four-star lender for private student loans based on more than 50 data points. Citizens is a good option if you have an existing relationship with the bank.
Citizens Bank says it takes an average of two to four weeks to get approved for a student loan. Citizens also offers multi-year loan approval to borrowers who qualify.
You can consolidate student loans with Citizens Bank. When you consolidate, or refinance, Citizens Bank pays off your old loans and issues you a new private student loan with new terms.
Citizens One is the national lending division of Citizens Bank. Student loans from Citizens Bank and Citizens One have the same terms, but you may see one name or the other depending on where you live.