I’ve done some research but need a professional

A student lending specialist can be the right choice when you’ve done some research but want to make sure you’re on the right track.

Explore I’ve done some research but need a professional

Explore Student Loan Specialists

Working with a student loan specialist

There’s no one-size-fits-all approach to paying off debt. Find a professional who has experience with student loan debt—not all do—and makes you feel at ease. Here are some things to keep in mind:
What are their credentials?
What are
their credentials?
Student loan specialists should have experience with budgeting and be able to offer you personalized options for repaying your student loans. At Citizens, student loan specialists have a minimum of 4 years' experience and are well-versed in managing student debt and planning for the future.
Do they understand your financial goals?
Do they understand your financial goals?
Do they understand your financial goals?
Make sure they’re on the same page with you and understand how refinancing fits into your broader financial picture. Talk to them about your other goals like buying a house or investing, and learn how paying off student loans can help.
What are the costs?
What are the costs?
What are the costs?
You don’t necessarily have to dig deep to pay for student loan counseling. Several nonprofits help at no or low cost.
What are the costs?
What are the costs?
What are the costs?
You don’t necessarily have to dig deep to pay for student loan counseling. Several nonprofits help at no or low cost.
Back to Top

Know your loan options: student loan consolidation or refinancing

The types of loans you have—federal, private, or both—make a difference when you’re considering combining them into a single loan. Know your options before speaking to a professional.

Federal Loans

Private Loans

Both

Know your loan options: student loan consolidation or refinancing

The types of loans you have—federal, private, or both—make a difference when you’re considering combining them into a single loan. Know your options before speaking to a professional.

Federal Loans

You can combine your federal loans into a single one through the federal government. It’s called a Direct Consolidation Loan. But you can’t include private loans. The federal government doesn’t allow it.

 

Private Loans

Both

Know your loan options: student loan consolidation or refinancing

The types of loans you have—federal, private, or both—make a difference when you’re considering combining them into a single loan. Know your options before speaking to a professional.

Federal Loans

Private Loans

A private lender, like Citizens, offers the convenience of bundling all your student loans into a single loan and at a potentially more affordable rate. Refinancing your federal loans this way means you’ll lose some of their protections and benefits †, but you’ll be replacing those benefits with the benefits of your new private student refinance loan.

 

Both

Know your loan options: student loan consolidation or refinancing

The types of loans you have—federal, private, or both—make a difference when you’re considering combining them into a single loan. Know your options before speaking to a professional.

Federal Loans

Private Loans

Both

If you have both federal and private student loans you can refinance them into one loan. That means benefits like having one monthly payment, one lender and a potentially lower rate. However, before you consider it’s wise to review the qualifications and apply for federal forgiveness if you are eligible.

Back to Top

What type of loan is right for you?

Our student loan specialists can help you decide between variable and fixed interest rate loans and guide you on the term that may be right for your life—for now, and possibly the future.
Variable rate
Fixed rate
5, 7, 10 year term
15, 20 year term

Variable rate

Offers a potentially lower rate and lower monthly payments. Your interest rate may fluctuate monthly, so the monthly payment amount might vary over time.

 Quick tip

While variable loans often start with low rates, that situation can change quickly if interest rates are rising. You need to be able to budget for higher monthly payments when that happens.

Variable rate
Fixed rate
5, 7, 10 year term
15, 20 year term

Fixed rate

Interest rate remains constant over the life of your loan. Your monthly payment amount will remain the same. There are no surprises!
Variable rate
Fixed rate
5, 7, 10 year term
15, 20 year term

5, 7, 10 year term

The shorter your loan term, the greater your monthly payment. However, you’ll pay less interest over the life of the loan and generally save money in the long run. A student loan specialist can help determine if you can afford higher payments.
Variable rate
Fixed rate
5, 7, 10 year term
15, 20 year term

15, 20 year term

Longer terms mean smaller monthly payments. However, you’ll pay more interest over the life of the loan and generally wind up paying a greater amount overall. A student loan specialist can help determine if this is the right approach for you.

See what your payments could be

Repayment Length
Amount to Borrow: $50,000
Variable
Fixed
Amount to Borrow: $50,000
Lowest
Highest
Lowest
Highest
REPAYMENT LENGTH: 5 YEARS
Interest Rate
5.09%
11.68%
5.39%
11.88%
Monthly Payment
$945
$1,104
$952
$1,109
Total Repayment Amount
$56,737
$66,249
$57,151
$66,551
Amount to Borrow: $50,000
Variable
Fixed
Amount to Borrow: $50,000
Lowest
Highest
Lowest
Highest
REPAYMENT LENGTH: 7 YEARS
Interest Rate
5.09%
11.68%
5.39%
11.88%
Monthly Payment
$708
$874
$715
$879
Total Repayment Amount
$59,540
$73,424
$60,135
$73,872
Amount to Borrow: $50,000
Variable
Fixed
Amount to Borrow: $50,000
Lowest
Highest
Lowest
Highest
REPAYMENT LENGTH: 10 YEARS
Interest Rate
5.09%
11.68%
5.39%
11.88%
Monthly Payment
$532
$708
$539
$713
Total Repayment Amount
$63,903
$84,976
$64,789
$85,666
Amount to Borrow: $50,000
Variable
Fixed
Amount to Borrow: $50,000
Lowest
Highest
Lowest
Highest
REPAYMENT LENGTH: 15 YEARS
Interest Rate
5.09%
11.68%
5.39%
11.88%
Monthly Payment
$397
$589
$405
$596
Total Repayment Amount
$71,594
$106,169
$73,013
$107,321
Amount to Borrow: $50,000
Variable
Fixed
Amount to Borrow: $50,000
Lowest
Highest
Lowest
Highest
REPAYMENT LENGTH: 20 YEARS
Interest Rate
5.09%
11.68%
5.39%
11.88%
Monthly Payment
$332
$539
$340
$546
Total Repayment Amount
$79,792
$129,463
$81,802
$131,127
*Total Refinance Savings example is used for illustrative purposes only. Here’s a hypothetical look at refinancing $50,000 with different rates and terms.
Back to Top

Did you know?

Customers have saved an average of $352† a month by combining and refinancing their student loans into one easy payment.

 

What would you do with an extra $352 a month?

Share: 
Back to Top

Additional resources

Should I Refinance My Private or Federal Student Loans? If so, how?

ReadOpens in a new window.

Student Loan Refinancing vs. Consolidation.

ReadOpens in a new window.

Student Loan Refinancing: What Are the Benefits?

ReadOpens in a new window.

Get on the road to financial freedom

Get your rate in 2 minutes with no impact on your credit score†.

No application, origination, or disbursement fees.