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What is PNC Bank?
PNC Bank, a leading student loan and refinancing provider in the country, has been committed to exceptional service and financial expertise for over 160 years. With a wide range of loan options for students and parents, including graduate and professional students, PNC helps clients achieve their financial goals. This review provides a company overview and highlights PNC's in-school and student loan refinancing solutions.
PNC Bank Customer Service
PNC offers an in-house customer service team with available help over the phone throughout the week. You’re also able to use social media for basic questions and visit a PNC Bank location for more in depth questions. PNC Bank’s loan servicer is American Education Services.
PNC Bank Student Loans
Student loans through PNC Bank can be used for any education related expense, and students can apply up to 60 days after their last school term. Most borrowers may choose from a fixed or variable rate. (There are no options to get personalized rate estimates from a soft credit check.) PNC student loans have no application or origination fees and you can get an interest rate reduction if you choose automated payments from a checking or savings account. There are flexible repayment terms, and borrowers can apply for a cosigner release.
PNC Bank student loan options include:
- Undergraduate loans
- Graduate loans
- Health and medical school loans
- Health professions residency loans
- Bar exam loans
- Student loan refinancing
PNC Undergraduate Student Loans
PNC Bank undergraduate student loans are available to use for any educated- related expense. When applying online, you’ll receive a preliminary decision within minutes of submitting your application. Students can apply up to 60 days after the end of their school term and can choose between a variable and fixed rate. Annual percentage rates vary depending on credit worthiness and the repayment terms. Students are able to apply for a cosigner release after 48 consecutive payments and meeting all other requirements as disclosed in the terms and conditions of your loan. Lastly, PNC undergraduate student loans have zero application or origination fees, and students can get an interest rate reduction with automated payments from a check or savings account.
Some eligibility requirements include:
- Must be an undergraduate student enrolled at least half-time
- Must be a U.S. citizen or permanent resident alien
- Lived in the U.S. for the previous two years
- Must have satisfactory credit and proof of employment and income history
- Must meet debt-to-income requirements
PNC Bank Graduate Student Loans
With a PNC graduate student loan, students can use the funds to pay for post-bachelors programs. Students will receive a preliminary decision within minutes of applying online and have the option of a variable or fixed rate. Students can apply for a loan up to 60 days at the end of their last school term. Just like the undergraduate loan, a PNC graduate student loan features no application or origination fees, and you can receive an interest rate reduction when choose automated payments from a checking or savings account. Cosigner release is also available.
Some eligibility requirements include:
- Must be enrolled at least half-time in a graduate degree program as determined by your school
- Be a U.S. citizen or legal permanent resident alien
- Reside in the U.S. for the previous two years
- Must have proof of employment and income history
- Must meet debt-to-income requirements
PNC Health Professions Loan
Health professions loans are also available through PNC Bank. If you’re enrolled in a health professions program, such as medical school, nursing, pharmacy, etc., you can use the funds for any education-related expense. There is the option of a variable or fixed interest rate, and preliminary credit decisions are usually available within minutes. There are no application or origination fees. Borrowers can request a deferment of their loan during residency as long as it does not exceed the program maximum of 10 1/2 years, including the 180 day grace period.
Some eligibility requirements include:
- Must be an undergraduate or graduate health professions student enrolled at least halftime in school
- Be a U.S. citizen or have resided in the U.S. the last 2 years
- Must have proof of employment and steady income history
- Must meet debt-to-income requirements
PNC Health Profession Residency Loan
With a PNC Health Profession Residency Loan, you have the option of competitive variable and fixed rates. You have the ability to apply up to a year before your residency begins. Students can borrow up to $15,000 and have the choice of 5, 10, and 15 year repayment terms. Those who chose the option to have automated payments taken from a checking or savings account have the option to receive 0.50% of your rate.
Some eligibility requirements include:
- Be attending a PNC approved medical residency program or at least be planning to attend within a year.
- Must meet credit and proof of income requirements
- Be a U.S. citizen or permanent resident, or have resided in the United States for at least 2 years
PNC Bank Bar Study Student Loan
The PNC Bank bar study student loan is for students who are enrolled at least half time at an approved ABA-accredited law school with less than six months left until graduation, or students who’ve graduated from an accredited school within the last six months. Students can choose between a variable or fixed interest rate option. Similar to in-school loans, there are no application or origination fees. Flexible repayment terms are available, along with a 6 month grace period.
Some eligibility requirements include:
- Must take bar exam no later than 6 months after graduation
- Must have graduated from a PNC-approved law school within the last six months, or be enrolled at least half time at a PNC-approved law school and be graduating within the next six months
- Be a U.S. citizen or have lived in the U.S. the last 2 years
- Must have satisfactory credit and proof of employment and income history
- Must meet debt-to-income ratio
PNC Bank Student Loan Refinancing
Refinancing your existing student loans with PNC allows you to combine multiple loans into a single loan, simplifying your payments, potentially lowering your interest rate, and potentially lowering/reducing monthly payments. You must be able to demonstrate at least 24 months of repayment history for federal or private student loans. This may not a requirement with other lenders.
PNC Bank student loan refinancing options include:
- Federal student loans
- Private student loans
- Federal parent loans (including Parent PLUS)
- Private consolidation/refinance loans (previously refinanced loans through private lender)
How to Apply for PNC Bank Student Loan Refinance
You can apply for an in-school student loan or student loan refinance on the PNC website. However, you may want to consider other loan and refinance lenders by comparing multiple student loan options to make sure you’re getting the best interest rate that makes sense for you and your financial situation.
Pros and Cons of PNC Bank Student Loans
| Pros | Cons |
|---|---|
| Competitive interest rate discount for auto-pay | Lowest advertised rates may not be what you qualify for; your rate could be higher based on credit history. Cosigners may be needed. |
| No degree required to refinance | A hard credit check is required for qualification and rates |
| No application or origination fees | Must meet debt-to-income requirement, or apply with a qualified cosigner |
PNC Bank Headquarters
PNC Bank is headquartered in PIttsburgh, PA at the Tower in PNC Plaza.