Citizens announces ‘Student Loan for Parents’

PROVIDENCE – Citizens Financial Group Inc. this month announced the launch of its new “Student Loan for Parents” program, which the bank said will offer parents a less expensive alternative to federal loans to pay for college.
Citizens Bank says the new program is estimated to save families an estimated average of $627 in annual fees because there’s no origination fee. The bank also guarantees approved borrowers will get a lower interest rate than what’s offered through the federal William D. Ford Direct PLUS rate.
The program is an option for anyone looking to help a student finance their education, the bank says in a press release.
“A college education remains one of the best investments students can make, but many families continue to struggle with the cost,” said Brendan Coughlin, president of auto and education finance at Citizens Bank, in a statement. “We are excited to be providing this new option for parents as they develop strategies for managing the cost of college.”
More details about the program and information on qualification requirements is available on Citizens Bank website, or via telephone at 888-411-0262.

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