Borrower tip: Refinancing federal student loans into a private student loan can make you ineligible for certain types of protections, such as income-driven repayment plans, federal debt forgiveness programs and forbearance/deferment options through the Department of Education.
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PNC offers student loans for the following purposes:
- Graduate study.
- Professional degrees.
- Health professions residencies.
- Bar exam study.
- Undergraduate study.
You can apply for a PNC student loan online by providing information about yourself and your school. Loan applicants can get a preliminary decision minutes after submitting their online application. PNC delivers funds directly to your school.
PNC provides fixed- and variable-rate student loans. The minimum loan amount for a PNC Solution Loan is $1,000. The maximum annual loan amount is $50,000 for an undergraduate degree, $65,000 for graduate school, $15,000 for medical residency and 15,000 for bar study.
If you are refinancing, the minimum loan amount is $10,000, and the maximum loan amount depends on the degree you earned. Borrowers who did not graduate can borrow up to $25,000, while customers with a graduate degree can borrow up to $200,000, for instance.
If you choose to make automatic payments, you can lock in an interest rate that is 0.5 lower
. The minimum term for nonrefinancing loans from PNC is five years, and the maximum term is 15 years.The term for PNC’s Education Refinance Loan can be up to 20 years for students with an undergraduate or graduate degree and 15 years for students who earned an associate degree or did not graduate.
PNC offers a 0.5 rate discount for borrowers who make automated payments. Interest-only payments are not eligible for the discount.
PNC does not disclose minimum FICO credit score, but applicants and co-signers for a PNC Solution Loan must have “satisfactory” credit, provide employment information and have a qualifying debt-to-income ratio, among other requirements.
Applicants for PNC’s Education Refinance Loan will also need to receive credit approval and provide personal information, including about their employment.
The bank will provide a preliminary decision within minutes of your applying online. You can have a co-signer if you choose. Also, you must be enrolled in school at least half time to get a PNC Solution Loan for undergraduate or graduate study. You can apply for a loan up to 60 days after the end of a school term for undergraduate and graduate loans.
PNC requires you to be a U.S. citizen or permanent resident to qualify for any of its student loan products. You can complete the entire loan application online.
PNC does not disclose a minimum FICO credit score, but applicants and co-signers for a PNC Solution Loan must have at least two years of “satisfactory” credit history.
PNC student loans are available in all 50 states. PNC also has branches in more than about half of the U.S.
PNC is rated A+ by the Better Business Bureau. The Consumer Financial Protection Bureau received seven student loan complaints about PNC Bank in 2021. They were related to dealing with the lender or servicer, struggling to repay the loan and getting a loan. PNC provided a timely response to all of the complaints. It closed six with an explanation and one with monetary relief.
In U.S. News’ ratings of student lenders, PNC received 3.9 out of 5 stars overall, 4 for affordability, 4.2 for eligibility and 3.5 for customer service. In U.S. News’ ratings of student loan refinance lenders, PNC received 3.5 out of 5 stars overall, 3.4 for affordability, 3.3 for eligibility and 3.5 for customer service. The median overall rating for student in-school lenders by U.S. News is 4.4 stars, and the median overall rating for student refinance lenders by U.S. News is also 4.4 stars.
You can reach a PNC customer service consultant at 800-762-1001 Monday through Friday from 8 a.m. to 5 p.m. Eastern Time. You can also fill out a contact form online to connect with a PNC Student Lending Specialist.
The company offers an online application process. PNC also has a mobile app you can use to view activity on your account.
PNC offers three repayment options with the PNC Solution Loan: immediate repayment; interest-only payments for borrowers in school; and full deferment of principal and interest payments for six months after you graduate or your enrollment drops below half time. Accrued interest during deferment is added to the principal balance once the deferment period is over. You can also request deferment if you are suffering financial hardship.
PNC will discharge a loan due to student death. You can request loan deferment if you are suffering financial hardship.
If you defer all payments on your student loan while enrolled in school, repayment begins six months after you graduate or are no longer enrolled as at least a half-time student.
- People who are enrolled in school at least half time.
- People who want to use a co-signer to qualify.
- People who are comfortable making automatic payments.
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