Citizens Bank: 2025 Student Loan Refinance Review

Citizens Bank offers student loan refinancing for graduates and non-graduates across all 50 states. Borrowers can refinance up to $750,000 depending on their degree level, with both fixed and variable rate options. The lender also allows non-citizens to apply with a qualified U.S. cosigner and offers loyalty discounts for existing customers. While Citizens Bank remains a solid refinancing option, physicians often find better rates and physician-specific programs when they check their rates with LeverageRx.

What Is Citizens Bank?

Based in Providence, Rhode Island, Citizens Bank is one of the largest regional banks in the U.S. It offers student loan refinancing to both U.S. citizens and eligible non-citizens who meet income and credit requirements.

Unlike many lenders, Citizens Bank does not require applicants to have completed a degree to qualify. This flexibility makes it appealing to those who started but didn’t finish medical school or another graduate program. Borrowers can refinance federal and private loans together, simplifying repayment into one monthly payment.

Citizens Bank Refinance Details

Borrowers can refinance loan amounts starting at $10,000 and up to:

• $300,000 for undergraduate loans
• $500,000 for graduate loans
• $750,000 for professional degrees such as medicine, dentistry, or law

Loan terms include 5, 7, 10, 15, or 20 years, with both fixed and variable APRs. There are no application, origination, or prepayment fees, though late payments incur a 5% charge after 15 days past due.

Applicants must earn at least $24,000 per year and have attended an accredited school eligible to receive federal aid. Both parent and student refinancing options are available.

Citizens Bank also provides a 0.25% loyalty discount for borrowers with an existing Citizens checking or savings account prior to applying.

Pros of Refinancing with Citizens Bank

No Degree Required
Applicants can refinance even if they didn’t complete their degree, an uncommon feature among major lenders.

Available in All 50 States
Citizens Bank’s nationwide availability provides flexibility for borrowers who relocate during training or practice.

Non-Citizens Can Apply with a Cosigner
Eligible non-residents can qualify for refinancing if they apply with a U.S. citizen or permanent resident as a cosigner.

Loyalty Discount
Borrowers with a Citizens Bank account receive a 0.25% interest rate reduction.

Soft Credit Check for Pre-Qualification
Borrowers can see estimated rates without impacting their credit score.

Cons of Refinancing with Citizens Bank

Estate Liability After Death
If the borrower passes away, the estate may remain responsible for parent-held refinance loans.

No Resident or Physician-Specific Discounts
Unlike lenders that work primarily with doctors, Citizens Bank doesn’t offer discounts for medical residents or fellows.

Limited Online Support
While Citizens Bank offers digital tools, customer support is more traditional and not as tech-focused as newer lenders.

Who Should Consider Citizens Bank

Citizens Bank can be a good option for borrowers seeking a large, stable financial institution with flexible eligibility and no degree requirement. However, physicians with higher loan balances or residency discounts available elsewhere may find stronger offers through LeverageRx.

Key Takeaways

Citizens Bank provides flexible student loan refinancing options for both graduates and non-graduates, including non-citizens with cosigners. It offers competitive rates, loyalty discounts, and nationwide access. Still, physicians should explore all options before applying — especially through platforms like LeverageRx, which connect doctors with lenders offering stronger rates and physician-specific programs.