The PNC Solution Loan for Undergraduates and Graduate Students
An
Alternative Way to Finance Your College Education
You've
already made the grades – now how do you meet the costs? The
PNC Solution Loan may be your answer.
The
PNC Solution Loan offers students many benefits, including the following:
- The variable interest rate is based
upon the LIBOR index plus a margin ranging from 2.25% to 8% depending on the creditworthiness of the borrower,
and is adjusted quarterly
- Loan origination fees are
based on the 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 for the PNC Solution Loan for Undergraduates and the PNC Solution Loan for Graduate Students. 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.
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. PNC Solution Loans are serviced by American Education Services (AES). |
