PNC Student Loans

Borrowers who want to begin making payments while still enrolled in school are ideal candidates for the private student loan offered by PNC. The lender provides immediate and interest-only payment plans and a 0.50 percentage point interest rate decrease for automated payments, which is twice what most lenders give.

PNC does not provide details regarding its forbearance policy nor offers additional repayment choices for consumers suffering from payments. If you desire flexibility, you should look at different lenders.

Pros

• Interest rate reduction for autopay is bigger than most lenders give.
• Best for students who expect to start repaying immediately.

Cons

• There are no official alternatives for forbearance.
• You need to undergo a comprehensive credit check to know whether you qualify for the loan or what interest rate you will be offered.

PNC Private Student Loan

Interest rates, fees, and terms

• Soft credit checks to determine eligibility and the interest rate you will receive: No.
• The terms of the loan are 5, 10, or 15 years.
• The loan amounts range anywhere from $1,000 to $50,000.
• No fees for the application or the origination of the loan.
• There is no penalty for prepayment.
• After the payment is 15 days late, you will be subject to a late charge of either $5 or 5% of the amount that is past due, whichever is greater.

Contrast the various interest rates offered by PNC with those offered by other private student loan lenders. Several criteria will determine your exact rate, one being the credit history and financial status of either you or your co-signer. Apply on PNC's website to find out what interest rate the bank will provide you.

Customer service

• American Education Services is a company that services loans.
• In-house customer service representatives: that's correct.
• Yes, there is a process for elevating issues.
• Each borrower is provided with their personal banker, counselor, or representative: No.
• Average time from application to approval: Did not disclose.

Extras

PNC will reduce your interest rate by half a percentage point if you arrange for automated payments on your loan. Most lenders need to provide discounts of this magnitude to consumers who want to make their payments automatically.

Before applying for a PNC student loan

On the PNC website, you'll find an application for a student loan. You should investigate your choices for federal student loans before considering taking out a student loan from PNC or any other private lender. To apply, fill out and submit the Free Application for Federal Student Aid, often known as the FAFSA.

Consider all of your alternatives for a private student loan to ensure you obtain the most favorable interest rate for which you are eligible. Consider, in addition to the rates of interest, the various methods of repayment that lenders provide, as well as the degree of leeway they give borrowers who are having trouble meeting their obligations.

PNC Student Loan Refinancing

Interest rates, fees, and terms

• Soft credit checks to determine eligibility and the interest rate you will receive: No.
• The terms of the loan are 5, 10, or 15 years.
• The loan amounts range anywhere from $10,000 to $75,000.
• No, a debt taken out by a parent cannot be transferred to a kid.
• No fees for the application or the origination of the loan.
• There is no penalty for prepayment.
• After the payment is 15 days late, you will be subject to a late charge of either $5 or 5% of the amount that is past due, whichever is greater.

Repayment options

• Several financial institutions are now providing help for COVID-19. Check out this list of several choices for getting private loan relief to discover what this lender offers.
• Academic deferment: If you are going to school again, your payments will be put on hold.
• Military deferment allows you to delay payments while you are serving on active service in the military.
• The absence of disclosure is considered forbearance.
• Co-signer release available: Yes, after 48 consecutive months of making all your payments on time.
• There is a death or disability discharge option available, which means that any outstanding debt will be canceled if the borrower passes away. If the borrower develops a disability that prevents them from working again, the loan will not be forgiven.
• Loan cancellation if a co-signer passes away or becomes disabled: Did not reveal.

Customer service

American Education Services is a company that services loans.

In-house customer service representatives: that's correct.

Yes, there is a process for elevating issues.

Each borrower is provided with their personal banker, counselor, or representative: No.

Not reveal the typical amount of time between approval and payment.

Extras

Autopay discount: PNC will cut your interest rate by half a percentage point if you set up automatic payments for your loan. This autopay discount is more than what most lenders give for autopay customers.