PNC Private Loans
The PNC Solution Loan helps you bridge the gap between federal aid and the full cost of your education.
Undergraduate Private Loan
The PNC Solution Loan for Undergraduates is a private loan offering a faster, easier way to pay for college after you have exhausted your federal loan options.
Who It's For: Students who are enrolled at least half time in a degree program
- Get 0.50% off your rate with automated payments from your checking or savings account1
- A co-signer release option is available after the initial 48 consecutive on-time monthly payments2
- The variable interest rate is based upon the LIBOR index plus a margin of 4% to 10.75% based on creditworthiness, and is adjusted quarterly3
- 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)3
- Use the funds for any education-related expense
- Apply up to 60 days after the end of the school term
- Receive a preliminary decision within minutes of applying online
- Defer payments until six months after you graduate or leave school4
- Take up to 15 years to repay3
- Payments may begin immediately to save on interest expense or can be deferred while enrolled at least half time3
- Interest may be tax deductible; consult your tax advisor
- Funds are sent directly to the school
1The interest rate reduction benefit is lost if automatic payment deduction is discontinued.
2To release a co-signer, the borrower must request a co-signer release and pass a credit check.
3View important disclosure and repayment information for the PNC Solution Loan for Undergraduates.
4Interest will continue to accrue during periods of deferment. You will receive quarterly interest statements during this deferment period. Paying the interest as it accrues each quarter will save you money over the repayment term of the loan because any accrued interest that you do not pay will be added to the principal balance at the end of the deferment period.
PNC reserves the right to discontinue any or all terms of this program at any time without notice. Loans may be sold to other financial organizations; however, the interest rate and term of the loan will not change if a loan is sold. PNC Solution Loans are subject to credit approval.
Graduate/Professional Private Loan
The PNC Solution Loan is a private loan offering a faster, easier way to pay for college after you have exhausted your federal loan options.
Who It's For: Graduate or professional students who are enrolled at least half time in a degree program
- Get 0.50% off your rate with automated payments from your checking or savings account1
- A co-signer release option is available after the initial 48 consecutive on-time monthly payments2
- The variable interest rate is based upon the LIBOR index plus a margin of 4% to 10.75% based on creditworthiness, and is adjusted quarterly. The interest rate margins vary depending on the creditworthiness of the borrower or co-signer (if any)3
- 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)3
- Use the funds for any education-related expense
- Receive a preliminary decision within minutes of applying online
- Apply up to 60 days after the end of the school term
- Take up to 15 years to repay3
- Payments may begin immediately to save on interest expense or can be deferred while enrolled at least half time3
- Funds are sent directly to the school
- One-time capitalization of interest at repayment
- Interest may be tax deductible; consult your tax advisor
1The interest rate reduction benefit is lost if automatic payment deduction is discontinued.
2To release a co-signer, the borrower must request a co-signer release and pass a credit check.
3View important disclosure and repayment information for the PNC Solution Loan for Graduate Students.
4Interest will continue to accrue during periods of deferment. You will receive quarterly interest statements during this deferment period. Paying the interest as it accrues each quarter will save you money over the repayment term of the loan because any accrued interest that you do not pay will be added to the principal balance at the end of the deferment period.
PNC reserves the right to discontinue any or all terms of this program at any time without notice. Loans may be sold to other financial organizations; however, the interest rate and term of the loan will not change if a loan is sold. PNC Solution Loans are subject to credit approval.
Health Professions Loan
The PNC Solution Loan for Health Professions is a private loan offering a faster, easier way to pay for college after you have exhausted your federal loan options.
Who It's For: Graduate students and undergraduates in an accelerated program who are working toward a degree in a PNC-approved health-related field of study1, and are enrolled at least half time; also available to MD and DO students for relocation and living expenses related to their residency
- Get 0.50% off your rate with automated payments from your checking or savings account2
- A co-signer release option is available after the initial 48 consecutive on-time monthly payments3
- The variable interest rate is based upon the LIBOR index plus a margin of 4% to 10.75% based on creditworthiness, and is adjusted quarterly4
- 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)4
- Use the funds for any education-related expense
- Apply up to 60 days after the end of the school term
- Payments may begin immediately to save on interest expense or can be deferred while enrolled at least half time4
- Take up to 15 years to repay4
- Receive a preliminary decision within minutes of applying online
- Repayment begins nine months after you graduate or are enrolled less than half time if you choose to defer repayment
- You can request a deferment for your Health Professions loan after graduation while completing an internship or residency, as long as it does not exceed the program maximum of 10 3/4 years of deferment (including the 270 day grace period) from the date of the first disbursement of the loan
- Residency and Relocation Loan: Up to one year prior to your residency, borrow from $1,000 to $5,000 to cover residency and relocation expenses
1View a list of PNC-approved fields of study.
2The interest rate reduction benefit is lost if automatic payment deduction is discontinued.
3To release a co-signer, the borrower must request a co-signer release and pass a credit check.
4View important disclosure and repayment information for the PNC Solution Loan for Health Professions. Interest will continue to accrue during periods of deferment.
PNC reserves the right to discontinue any or all terms of this program at any time without notice. Loans may be sold to other financial organizations; however, the interest rate and term of the loan will not change if a loan is sold. PNC Solution Loans are subject to credit approval.
Important - Please make sure to choose the correct loan term date. Current valid loan term dates for Penn State students are:
- Fall 2008 (08/25/2008 to 12/19/2008)
- Fall/Spring 2008/09 (08/25/2008 to 05/08/2009)
- Spring 2009 (01/12/2009 to 05/08/2009)
- Summer 2009 (05/18/09 to 08/14/2009)
Please Note: Spring/Summer 2009 and Summer/Fall 2009 are not valid loan term options for Penn State students. A separate summer application is always required.
If you have any questions, our customer service consultants are available to assist you. Please call us at 1-800-762-1001, Monday through Friday from 8am to 6 pm Eastern time, or send us an email at eduloans@pncbank.com
Please note: PNC Bank reserves the right to modify, expand or discontinue the discount terms of these programs at any time without notice. Loans may be sold to other financial organizations, however the interest rate and term of the loan will not change if a loan is sold. PNC Solution Loans are subject to credit approval.