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Guide to CitiBank Student Loans – What You Should Know

CitiBank private student loans are one of the best student loan alternatives available for college students and their parents. CitiBank student loans include CitiAssist ® Loans which are provided to undergraduate and graduate students and cover all college costs. There is also CitiBank student loan for law students and Health Professions Loan available.

CitiBank Student Loans Benefits

CitiBank private student loans are very popular among students and their parents because of their favorable borrowing conditions, such as the following:

  • Low interest rates with interest rate reduction of 2% for on-time online payments,
  • No application fees or early payment penalties apply,
  • No repayment while student is in school,
  • Citibank student loans can be utilized at almost any accredited college in the U.S.A.,
  • There is a deferment option available.

CitiBank Loans for Undergraduate Students

CitiAssist ® Loans are the best choice if you need assistance paying for your educational costs which are not covered by other types of student financial aid like federal student loans or college scholarships and grants. CitiAssist ® provides a competitive interest rate, flexible repayment term, and no required payments while in school.

CitiAssist ® Advantages

CitiAssist ® student loan for undergraduate students is designed for students who are enrolled in school at least half-time. It can be used to pay for tuition, books, or other school-related expenses when other sorts of financial aid fall short.

Undergraduate Students can benefit from this private student loan in several ways. Firstly, CitiAssist® Loans cover all college expenses and allow students to borrow up to $120,000 with the repayment time of 15 years. Secondly, you will be able to receive a 0.25% interest rate reduction when you enroll in CitiAssist ® auto-debit payment program. Furthermore, no payment is required while in school and during grace period. There is a grace period of six months after you finish the school.You can choose to interest while in school; there is no prepaying penalty. Note that any not paid interest will be capitalized to your principal loan balance when repayment begins.

With CitiAssist® student loans you can also take an advantage of safe and easy application process, handy online account management which helps you track your loan application, update your contact info or view disbursement information easily online.

CitiAssist ® Loan for Graduate Students

In case you are a graduate student enrolled in a graduate program at least half-time, then this private student loan may be the right for you. It offers a favorable interest rate, generous repayment conditions and no required payments while you are in school.  CitiAssist ® loans for graduate students offer a borrowing limit of $150,000 and a 20 yeas repayment period.

Their main benefits include:

  • Covering all of your college costs; you can borrow up to full cost of your education minus any other financial aid received,
  • 0.25% interest rate reduction when you enroll in CitiAssist ® auto-debit payment program,
  • No payment is required during your time in school and the grace period,
  • You can choose to interest while in school – there is no prepaying penalty,
  • Secure and easy application process, handy online account management helps access and manage your account easily online.

Application with Cosigner

Most of the undergraduate and graduate students need to apply with a creditworthy cosigner in order to meet the eligibility criteria for this student loan option. Applying with a cosigner usually increase borrower’s chances of application approval and helps in getting a lower interest rate. Applying with a creditworthy cosigner typically will increase your chances of application approval and will help you to get a lower interest rate.

Loan Limits

  • For each CitiAssist ® Loan a minimum loan amount of $1,000 is required,
  • The increasing amount you can borrow throughout your college is up to $150,000; this includes all other types of student loans.
  • Your school will be asked to certify or verify the amount for which you qualify which means that the final approved loan amount could be less than the amount that you requested.

Eligibility Requirements

To qualify for CitiBank private student loans, you must meet certain eligibility requirements:

  • You must be enrolled at least half-time in a graduate program at an eligible school,
  • You must be looking for a degree, no certificate programs,
  • You must be making acceptable academic progress, as defined by school,
  • You must be at least 18 years of age, 19 in Alabama and Nebraska, and 21 in Mississippi and Puerto Rico at time of loan application,
  • You must successfully pass a credit check.

For CitiAssist Loans, the interest rate charged is based on the your credit scores and other factors. You may apply for CitiAssist ® loan on your own. Nevertheless, if you do not have an established credit history you may apply with a qualified cosigner to increase your chances for approval and potentially receive a lower interest rate. International borrowers are always required to apply with a U.S. citizen or permanent resident cosigner.

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