PNC Bank Student Loans

Educational expenses can be quite a surprise to most students and parents. Often time’s federal student loans and other government assistance with financial aid are not enough. In order to subsidize student loans that are offered by the government, students and parents will have to apply for other types of student loans, mainly private student loans. PNC bank student loans are student loans made especially for parents and students who have an excellent credit rating. Students or parents who have don’t have a creditworthy history will not be able to qualify for a PNC bank student loan.

PNC bank student loans are offered for a wide variety of student needs. For example, private student loans made available by PNC bank are for undergraduate students, graduate students, health and medical students, etc. These private undergraduate student loans can only be qualified for when the student is enrolled in a degree program. The student must be attending school at least half time or more as well. This loan will typically take up to 15 years to repay and has a variable interest rate that is charged depending on the credit score of the student. Interest rates vary from 3% to 11%.

The graduate or professional student loan provide by the PNC bank are for students who are a graduate or a professional and are earning a degree. The student must also be attending school at least half time to qualify for this student loan. The interest rates on this loan may be associated with a tax deduction, and interest rates represent the typical interest rates that are known with the undergraduate student loans. Creditworthiness is a must for both the undergraduate student loan and the graduate student loan. If the parent or the student does not qualify for the loan, they are able to seek out a cosigner for the loan.

Health and medical students who are acquiring about a loan from the PNC bank have the option to choose the health professions loan or the health professions residency loan. The health profession loan requires the student to be attended a school that provides a degree that is recognized by the PNC bank. In other words, only a health related study or field of study whom PNC recognizes will qualify for this type of student loan. Students applying for this type of student loan are also required to be attending school at least half time.

The health professions residency loan is different from the health professions student loan. Health professions residency loans are specifically made for MD and DO residents. The interest payments on this type of student loan represent the same amount of interest that both the undergraduate and the graduate loan has. This student loan is typically paid off in 15 years and the student or the parent is required to pass a credit check to be qualified for the student loan. If the parent or the student is not able to qualify because of credit reasons, they have the option to use a cosigner.

Another type of student loan that is made available by the PNC bank is the bar study loan. This loan is designed to fund students who are enrolled with an accredited law school. The student must be attending school for at least half time. The student loan can only be used if the student only has less than 6 months to graduate. The loan can also be used within 6 months after graduation as well. Private student loans are a must for many students to finance their educational goals. Without private student loans like the ones offered by the PNC bank, students wouldn’t be able to reach their goals.