PNC Private Student Loans and Refinancing Review

PNC Bank is a well-known student loan financier. Keep reading here to find out if it has the kind of advantages that you're looking for, and if there's anything better out there.

Non-graduates that need no-deferral options Best for
4 /5
$ /mo
Starting Price
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    The PNC Bank has been servicing members since 1959, and in that time has learned a thing or two about lending student loans. It has branches in 22 states but offers its services to the whole nation.

    Why get a student loan from PNC Bank?

    There are some benefits to loans with this lender, such as a discount of .5% when using autopay, and the option to refinance your loan even if you didn't graduate.

    What student loans does PNC Bank offer?

    It allows you to either take out a new student loan or refinance a current one. Loans are available to undergraduates and graduate students across the whole country.

    Student loan refinancing information (July 2020)

    While you don’t need a degree to refinance your loan with PNC Bank, you’ll need to have paid loans for at least 24 months to be eligible. The minimum credit score requirement is also not stated, and you’ll need to do a hard credit check to see if you qualify.

    Fixed rates from:   

    3.44% - 6.24%

    Variable rates from:           

    Variable rates from: 2.79% - 5.59%

    Loan repayment terms:

    Loan repayment terms: 5, 10, or 15 (Years)

    Loan amount:

    Loan amount: $10,000 to $75,000

    Private student loans

    It has some reasonable starting APRs, but the lack of options for deferral makes it a risky investment. As with refinancing, you also can’t see the minimum requirements without actually applying and doing a hard credit check.

    More about rates and fees of PNC Bank’s loan options (July 2020)

    This lender has a fairly reasonable discount when using autopay. Below are the further costs and fees.

    Fixed rates from:  


    Variable rates from:  


    Application fee: 


    Origination fee:   


    Disbursement fee:


    Late fee: 5% of the past-due amount after 15 days

    Returned payment fee:


    Prepayment penalty:


    PNC Bank pros and cons


    • Useful discount with autopay
    • Refinance without finishing your degree


    • Hard credit check required to see if you're eligible

    How to apply for a PNC Bank student loan

    PNC Bank has an easy to navigate website which you can casually use to complete the hard check required. You can also visit a branch if there’s one local to you.


    Borrowers have access to a few appealing features, such as the discount with autopay and the quite low variable starting interest rates. However, it’s not forthcoming with the minimum requirements for credit scores, income, and other stipulations, and makes you complete a hard credit check just to find these out. That, combined with the lack of any forbearance term at all, makes loans here rather risky.

    A safer option would be either SoFi or CommonBond. These two nationwide lenders also allow refinancing without finishing your degree, but are more transparent with what's required to sign up, and offer some slightly more attractive extras, such as 1% cashback graduation rewards.