Updated: June 1, 2021

PNC Bank Student Loan Refinance Review

Education Refinance Loan

The bottom line:

Refinancing your student loans with PNC Bank has its perks, but the most important of these for many borrowers is the fact that you can qualify with or without a degree — Associate’s or Bachelor’s. With that said, there are a few drawbacks to borrowing with PNC Bank, such as a low borrowing limit and little to no assistance for borrowers who are experiencing financial hardship, so this lender should not be the first choice for everyone.

Pros

● 0.50% interest rate reduction with autopay
● Cosigner release available
● Degree not required to qualify
● Deferment available
● No origination, application or prepayment fees

Cons

● Long on-time period required for cosigner release 
● Low borrowing limit
● No forbearance option advertised
● Late fees

Advertising disclosure
Refinance
Student Loan Rating
4 of 5
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.44% - 6.24%
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.22% - 5.02%
Repayment Terms
5 years, 10 years, 15 years
Important Information

Repayment Options: 5, 10 and 15-year repayment terms 

Important Information:
• Not required to have a degree
• 0.50% interest rate reduction with autopay
• Late fees charged 
• Cosigner release available

Other Loans that PNC Bank Offers:

Wondering how much that loan is going to cost you? Check out our free Loan Calculator!
Input your loan terms and we’ll tell you how much you can expect to pay monthly and in total

5, 10 and 15-year repayment terms are available. You may only borrow up to $75,000, which is far below what the average lender allows and not likely to cover the full debt of all people. With that said, PNC Bank does offer fairly competitive interest rates to borrowers with excellent credit and income, but you won’t be able to see what rates they’ll offer you unless you submit a preliminary application. This only takes a few minutes to complete but does require a hard credit pull.

A postsecondary degree is not necessary to qualify for this private refinance loan. Instead, PNC Bank requires two years of continuous income or employment history and two years of continuous student loan debt repayment, making this a great option for those who took out student loans for a degree they never completed. You cannot, however, still be enrolled as a student.

Cosigner release is available, but in order to qualify, you need to have made 48 consecutive on-time payments. This is significantly longer than the average lender requires. If PNC Bank offers forbearance to non-military borrowers, they don’t advertise it. However, in-school deferment for up to three years is available to borrowers who pursue further education full-time. Death discharge is also available through this lender. PNC Bank does not have a call center that can be reached on evenings or weekends.

PNC Bank - Private Student Loan Details

Interest Rates, Fees and Terms
  • Credit Check: Not specified by lender
  • Repayment Terms: 5 years, 10 years, 15 years
  • Minimum Borrowing Limit: $10,000
  • Application Fee: Not specified by lender
  • Origination Fee: None
  • Prepayment Penalty: None
  • Late Fee: Yes
Requirements to Qualify
  • Minimum Credit Score: Not specified by lender
  • Minimum Anual Income: Not specified by lender
  • Citizenship Restriction: Citizens or Residents
  • List of States where Loan is Not Available: None
  • Approved Schools Include: Not specified by lender
Repayment Options
Repayment Details
  • Maximum Deferment Period: 36 months
  • Maximum Forbearance Period: Not specified by lender
  • Cosigner Release Option: Yes, after 48 months on-time payments
  • Death Discharge: Yes
  • Disability Discharge: Not specified by lender
Customer Service
  • US-Based Call Center: Yes
  • Hours of Operation (in addition to weekdays): No Evenings or Weekends
  • Application Timeline: Preliminary decision within minutes
Extras
  • Scholarship Search Tool: None
  • Sponsors a Scholarship: Yes
  • Job and Career Assistance: None
  • Financial Literacy Training: Yes
PNC Bank LendKey SoFi
Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Fixed:
3.44% - 6.24%
Variable:
2.22% - 5.02%
Fixed:
2.95% - 7.63%
Variable:
1.90% - 5.25%
Fixed:
2.74% - 6.74%
Variable:
2.25% - 6.39%
Loan repayment terms (Years) 5 years, 10 years, 15 years 5 years, 7 years, 10 years, 15 years, 20 years 5 years to 20 years
Cosigner release? Yes, after 48 months on-time payments Yes, after 12 months on-time payments None