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Laurel Road Student Loans vs Citizens Bank Student Loans
Laurel Road Student Loans
Citizens Bank Student Loans
Benefits and Features
Variable APR
2.99%-6.42%
2.63% to 7.98%
Fixed APR
3.5%-6.99%
3.20% to 8.34%
Minimum Amount
$5,000
$10,000
Maximum Amount
No maximum
$350,000
Loan Term
5 to 20 years
5 to 20 years
State Residency
All states eligible
All states eligible
Degree Requirements
Bachelor's or higher
None, but you must have made 12 on-time payments to be eligible
Income Requirements
None
$24,000
Employment Requirements
Must be employed or have an offer
Must be employed or employed before first payment due date
Interest Only Payments
No
No
Origination Fees
None
None
Prepayment Penalty
None
None
Can Use a Cosigner
Yes
Yes
Can Release a Cosigner
Varies case by case
Yes
Auto-Pay Interest Rate Reduction
Yes
Yes
Soft Credit Check
Yes
Yes
Unemployment Protection
Yes
Yes
Laurel Road: Pricing information from published website as of 03/18/2018
Citizens Bank: Pricing information from published website as of 03/18/2018
Should you pay student loans with a credit card? Below we discuss how to pay your student loans with a credit card, and then we break down the advantages and disadvantages of doing so.