Education Refinance Loan

One Lender, One Monthly Payment

Simplify your college or grad school debt repayment with PNC's Education Refinance Loan (PERL) -- find out how you could lower your monthly payment or shorten your term by refinancing[1]


Speak to one of our student lending representatives.

A Single Monthly Payment

Pay Off Loans Faster[1]

Reduce Monthly Payments [1]

Control your Financial Future

Why Refinance Your Student Loans?
Watch our education refinancing videos

Refinancing your existing student loans allows you to consolidate into one, single loan, making payments more manageable. You may be able to save on interest over the life of your loan or lower monthly payments. That means greater financial flexibility to meet your goals.

Combine Loans into a Single Payment

Simplify your life when you combine your loan payments. You may be able to refinance multiple student loans into a single loan.

You’ll save time by making one payment each month instead of several. Plus, it's easier to remember a single payment date (not to mention a single online password) — so you don't have to worry about missing one.  

Pay Off Loans Faster

Paying off your student loan early could put you in a stronger financial position. 

You could save thousands of dollars over the lifetime of the loan to help you meet your financial goals. 


Reduce the Monthly Payments

Need more money to meet your budget needs? Refinancing now into a longer term loan can help lower your monthly payments and add flexibility to your budget[1].

So don’t let your bills stress you out. Maybe you just need a little extra financial breathing room each month to feel comfortable. Lowering your monthly student loan payment may be the solution to ease your mind.

Take Control of Your Financial Future

Whether you want to buy a home, invest in the stock market or save for retirement, refinancing today can help you save money — so you can prepare for what’s ahead.

Variable rates starting at

4.98% APR

and ranging up to 7.18% APR[6]

Fixed rates starting at

5.39% APR

and ranging up to 7.59% APR[6]

Simplify Your Student Loan Repayment

Interest Rates

WIth a PNC Education Loan, you can choose between a fixed and variable-interest rate. A fixed-rate lets you know exactly what your monthly payment will be over the life of your loan. A variable-rate may help you get a lower rate.

Borrow from $10,000 to $75,000 at a 10-year or 15-year repayment term:

  • 5.39% to 7.49% Fixed APR at a 10-year repayment term [6]
  • 5.49% to 7.59% Fixed APR at a 15-year repayment term [6]
  • 4.98% to 7.08% Variable APR at a 10-year repayment term [6]
  • 5.08% to 7.18% Variable APR at a 15-year repayment term [6]

View loan application and solicitation disclosure

Features and Benefits

  • Combine higher-interest federal and private student loan debt into a single monthly payment[1]
  • 0.50% rate discount on your refinanced loan when you set up automated payments from your checking or savings account[3]
  • A co-signer release option available after 48 consecutive on-time monthly payments[4]
  • Financial independence by refinancing without a cosigner
  • Convenient online application
  • Outstanding debt will be forgiven upon the death of the borrower
  • Interest may be tax deductible; consult your tax advisor

Please be aware of any loss of Federal benefits that comes with refinancing your Federal student loans.[5]

Repayment Examples

Refinance Requirements

Eligibility requirements for the PNC Education Refinance Loan include:

  • At least 24 months of repayment history for federal or private student loans[7]
  • A satisfactory credit profile
  • Being a U.S. citizen or permanent resident.
  • Lived in the U.S. for the previous two years. 
  • Two years of continuous income or employment history

Application Materials Checklist

To complete the application, we will need your:

  • Social Security number
  • Telephone numbers
  • Current addresses (home address and school address)
  • Lender’s names, account numbers, outstanding balances, monthly payments and interest rate type (fixed or variable) for each loan. Your most recent monthly billing statement will have all of this information.
  • Gross income information


Start Application

Watch These Refinancing Videos to Learn More

Select the tabs below to learn more about each topic

Why Refinance?

One way to help achieve your financial goals is to refinance your student loans. Whether you’re looking for the convenience of a single monthly payment or want to save money over the life of your student loan(s), PNC can help[1]

The PNC Education Refinance Loan (PERL) is specifically designed for refinancing student loans. To learn more about the options available to meet your unique needs, watch our series of videos on student loan refinancing. 

Simplifying Payments

Consolidating your student loans can make managing your student debt simpler with only one service provider and one monthly payment 

Calculate: Possible Savings with a PNC Education Refinance Loan

Estimate Education Refinance

Refinance FAQS


What's the difference between student loan refinancing and student loan consolidation?

Although the terms are often used interchangeably, consolidation is basically combining multiple student loans into one loan. Student loan refinancing means you are applying for a loan with new terms and use that loan to pay off one or more existing student loans.

Have Questions?

If you have any questions, our customer service consultants are available to assist you.

Call Us


Monday - Friday: 8am – 5pm ET

Important Legal Disclosures and Information

  1. Refinancing at a longer repayment term may lower your loan payments, but may also increase the total interest paid over the life of the loan. Refinancing at a shorter repayment term may increase your loan payments, but may lower the total interest paid over the life of the loan. For example, if you have a 15-year loan that matures in 10 years and you refinance for another 15 years at a lower rate, your payments will be lower but you will pay interest for an additional 5 years. Contact us to discuss the option that best meets your needs.

  2. When you are applying for a PNC Education Refinance Loan, you will be transferred to the website of one of our service providers. A list of information required to successfully complete your application will be provided during the application process. Borrowers and co-signers will need personal and income information including a driver’s license or state ID.

  3. Automatic Payment Discount: During repayment, an interest rate discount of 0.50% is available for automatic payments. Borrower must be making scheduled payments that include both principal and interest. Interest only payments do not qualify for the 0.50% interest rate discount. Automatic payment can be established through the loan servicer American Education Services (AES). If automatic payment is established and discontinued at any time during repayment, the borrower will no longer receive an automatic payment discount and the rate will increase by 0.50%. Discount may also be suspended during periods of forbearance or deferment. Payments may be made from a checking or savings account. A federal regulation limits the number of transfers that may be made from a savings or money market account. Please contact your financial institution for more information on transfer limitations on savings accounts

  4. A request to release a co-signer requires that, as of the date of the request, you have made at least forty-eight (48) consecutive timely payments of principal and interest with no periods of forbearance or deferment within the forty-eight (48) month timeframe. “Timely payment” means each payment is made no later than the 15th day after the scheduled due date of the payment. “Consecutive payment” means the regularly scheduled monthly payment must be made for forty-eight (48) months straight without any interruption. To qualify for a co-signer release, the borrower must submit a request, meet the consecutive, timely payment requirements, provide proof of income and pass a credit check.

  5. Certain Federal Benefits Will Be Lost or Not Available: If you refinance your federal loans through this PNC Education Refinance Loan, you will lose or not be able to select other payment plans available to federal student loan borrowers, such as income contingent repayment or income based repayment. In addition, federal student loans offer deferment, forbearance and loan forgiveness options that may not be available under a PNC Education Refinance Loan. Please compare your current benefits with this program to ensure any loss of existing benefits is fully understood.

  6. View important disclosure and repayment information for the PNC Education Refinancing Loan. Loan maximum: $75,000.

  7. Qualifying federal and private loans must have been used only for qualified higher education expenses at an accredited U.S. undergraduate or graduate school.

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. The PNC Education Refinance Loan is subject to credit approval.

PNC does not provide accounting, tax or legal advice. Any calculators provided are intended for educational and estimation purposes only, and their accuracy is not guaranteed. The calculators, and any results displayed, do not constitute the advice of, or reflect actual products, services, rates and/or terms available from PNC Bank or its affiliates, and nothing contained in the calculators shall constitute an offer or solicitation of a product or service by PNC Bank or its affiliates.