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Citizens Bank Student Loans vs SoFi Student Loans

Citizens Bank is a good option if you have not finished your degree. How does it compare to SoFi? Read our comparison chart below.

Citizens Bank provides private student loans and student loan refinancing & consolidation services. Graduation is not a requirement for refinancing, so it's a good choice for those who didn't complete their degree. Minimum $10,000 in loans to be eligible.

While SoFi is one of the largest student loan refinancing providers. It refinances both federal and private loans, as well as Parent PLUS loans. It offers loan terms from 5 to 20 years. One unique benefit is that SoFi offers complimentary career coaching to borrowers out of work. Minimum $5,000 in loans to be eligible.

Compare Citizens Bank with SoFi, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 SoFi Student Loans
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Citizens Bank Student Loans

SoFi Student Loans

SPECIAL OFFER
Refinance Student Loans - Learn More

Read SoFi Review

 

Benefits and Features

Variable APR
2.63%-7.98%
2.430% to 6.650% APR (with AutoPay).
Fixed APR
3.20%-8.34%
3.49% to 8.074% APR (with AutoPay)
Minimum Amount
$10,000
$5,000
Maximum Amount
$350,000
No maximum
Loan Term
5 to 20 years
5 to 20 years
State Residency
All states eligible
All states eligible
Degree RequirementsNone, but you must have made 12 on-time payments to be eligible
Associates or higher
Income Requirements
$24,000
None
Employment RequirementsMust be employed or employed before first payment due dateMust be employed or have an offer to start within 90 days
Interest Only Payments
No
No
Origination Fees
None
None
Prepayment Penalty
None
None
Can use a cosigner
Yes
Yes
Can release a cosigner
Yes
No
Auto-Pay Interest Rate Reduction
Yes
Yes
Soft Credit Check
Yes
Yes
Unemployment Protection
Yes
Yes
 

CreditDonkey® Reviews

 SoFi Student Loans
Customer Service
Loan Term
Ease of Use
Interest Rates
Payment Flexibility
Pros & ConsPros:
  • Great if you haven't graduated college
  • Loyalty discounts for borrowers with a Citizens Bank account before enrolling
  • Good interest rates for a larger bank
Cons:
  • They prefer if you have a co-signer
  • Federal loans cannot be on an income-driven repayment plan when applying
Pros:
  • Keep federal grace period
  • Refinance Parent Plus loans
Cons:
  • Must have great credit score
Bottom LineGood option if you have not finished your degree... Read full reviewGood option if you have a great credit score... Read full review
 Learn MoreLearn More

Refinance Student Loans

 Terms Apply. SoFi Disclaimers

Citizens Bank: Pricing information from published website as of 03/18/2018

SoFi: Pricing information from published website as of 06/05/2019

Which is Better: Citizens Bank or SoFi?

Still need help deciding which student loans is better? Read the in-depth reviews below. You may also be interested in comparing Citizens Bank or CommonBond.


Articles on Citizens Bank Student Loans

    Citizens Bank Student Loans Review

    If you've exhausted your federal loan options and still need money for school, private loans may help. Citizens Bank claims to offer the lowest rates and best fees in the industry.

Articles on SoFi Student Loans


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