Purpose of consolidating student loans
Other assumptions include a 21 month in‑school period, 6 month grace period, a standard repayment account, and the student remains in school through the expected graduation date. Actual rates and payment information may vary based on applicable terms. Citizens Bank reserves the right to modify interest rates at any time without notice., depending on the interest rate during the 45 month in-school period and the 6 month grace period. Such changes will only apply to applications taken after the effective date of change.
When you consolidate federal loans, your new fixed interest rate will be the weighted average of your previous rates, rounded up to the next ⅛ of 1%.
Citizens Bank Student Loan repayment examples assume a ,000 loan in the first year of school with two equal disbursements, the repayment term and interest rate type selected above, and is based on an application with a borrower and a co-signer.
Lowest rate shown requires borrower to take advantage of available ACH and loyalty discount to achieve the 0.50 percentage point interest rate savings.
If you are suffering from a financial hardship, you may be eligible for an Income Based Payment.
In this repayment program, you would have a payment based on your income and family size.