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PNC Bank Undergraduate Student Loan Review
Undergraduate Loans
Rewards: Autopay Discount
Yearly Loan Limits: $75,000
Overall Loan Limits: $225,000 (aggregate maximum)
Cosigner Terms: Cosigner optional, allows for Cosigner Release after 48 on-time monthly payments
Rewards: Autopay Discount
Yearly Loan Limits: $75,000
Overall Loan Limits: $225,000 (aggregate maximum)
Cosigner Terms: Cosigner optional, allows for Cosigner Release after 48 on-time monthly payments
The bottom line
If you’re in the market for a student loan from a notable bank, PNC Bank should be one of the top on your list. Though their $75,000 annual borrowing limits may not be enough to cover the full cost of attendance at your college, they do offer short repayment terms and a higher-than-average autopay discount.
Pros- Offers a repayment term of 5 years (among others)
- Offers a higher-than-average autopay discount (0.50%)
- Performs a soft credit inquiry if you want to check your rates, and gives you a preliminary decision within minutes
Cons- Charges a fee on late payments
- Limits annual borrowing to $75,000 (not your Cost of Attendance)
- Cosigner release available after 48 on-time monthly payments (which is more than usual)
Loan comparison
Full review
PNC Bank’s undergraduate student loan offers a lot of features you’ll see in other top lenders. That includes no application, origination or guarantee fees, and no prepayment penalties either. Though they don’t offer many rewards, their autopay discount is double what you would find for the vast majority of other student loans. And if you’re curious about what your rate will be, they’ll only perform a soft credit inquiry to check that.
In terms of borrowing limits, there’s some good and some bad. The good news: they have an aggregate borrowing limit of $225,000, which should be enough for most borrowers. The bad news: if you need to borrow up to the full cost of your attendance in any given year, the max PNC Bank will let you borrow is $75,000. Cosigner-wise, they offer cosigner release, but only after 48 on-time monthly payments, which is higher than average.
PNC Bank - Undergraduate Loans
Other loans that PNC Bank offers:
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