The PNC Solution Loan for Undergraduates

If the Federal Stafford Loan or the Federal PLUS Loan do not complete your financing package at Davis & Elkins, The PNC Solution Loan for Undergraduates may be your answer.

• The variable interest rate is based upon the LIBOR index plus a margin ranging from 2.25% to 8% depending upon creditworthiness of the borrower and co-signer, if any, and is adjusted quarterly
• Loan origination fees are based on the creditworthiness of the student borrower and the co-signer (if any), and range from 0% to 6% of the total loan amount (requested loan amount plus the origination fee)
• Use the funds for any education-related expense
• Receive a preliminary decision for a loan within minutes of applying online
• Borrowers may choose to defer payments until after graduation*
• No prepayment penalties or repayment fees
• Flexible repayment options for borrowers
• Interest may be tax deductible (consult your tax advisor)
• Funds are sent directly to the school and can be disbursed within five business days of final approval
• A 0.25% interest rate reduction is available if you elect automatic payment deduction from a bank account*
• A co-signer release option is available to borrowers after the initial 48 consecutive on-time monthly payments and subject to credit approval*

* View important disclosure and repayment information. Interest will continue to accrue during periods of deferment. The interest rate reduction benefit is lost if automatic payment deduction is discontinued. To release a co-signer from the loan after 48 consecutive payments, the borrower must request a co-signer release and pass a credit check.

Debating whether the PNC Solution Loan or a Federal PLUS Loan is right for you? Learn more about these loans.