Grove City College
Student Loan

An affordable way to finance your education from PNC Bank.

 

Apply Now[1]

A convenient online application process.


Have Questions?

Check out the Grove City Financial Aid page to learn more about Student Loans.


The Grove City College Student Loan is not being offered or made by Grove City College, but by PNC Bank, National Association.

As one of the nation’s largest originators of student loans, PNC Bank has been helping students invest in their future for more than 40 years.

To help you and your family meet the expected costs associated with a Grove City College education, we present the PNC Bank Grove City College Student Loan.

The Grove City College Student Loan offers students:

  • No application or origination fees
  • Variable interest rates are equal to the London Interbank Offered Rate (LIBOR) index + 3.30% borrowing with a co-signer and LIBOR + 4.60% borrowing without a co-signer[2]
  • A 15 year repayment term[3]
  • Interest may be tax deductible; consult your tax advisor

View loan application and solicitation disclosure.

Grove City Student Loan Repayment Example

Example 1:


WITH CO-SIGNER

WITHOUT CO-SIGNER

Loan Amount

$12,000

$12,000

Variable Interest Rate[2]

3.80%

5.10%

APR[5]

3.70%

4.91%

Principal Amount of Loan at Repayment[6]

$13,938.00

$14,601.00

Monthly Principal and Interest Payment

(after deferral period)[7]

$101.71

$116.23

Loan Term

180 months

(15 years)

180 months

(15 years)

Total Paid Over 180 Months[8]

$18,307.80

$20,921.40


 

Example 2:

 

WITH CO-SIGNER

WITHOUT CO-SIGNER

Loan Amount

$17,000

$17,000

Variable Interest Rate[2]

3.80%

5.10%

APR[5]

3.70%

4.91%

Principal Amount of Loan at Repayment[6]

$19,745.50

$20,684.75

Monthly Principal and Interest Payment

(after deferral period)[7]

$144.08

$164.65

Loan Term

180 months

(15 years)

180 months

(15 years)

Total Paid Over 180 Months[8]

$25,934.40

$29,637.00

NOTE: While the PNC Bank Grove City College Student Loan is one of the most attractive private student loans on the market today, it is not the only private student loan that exists, and students are not required to borrow through this program. There are other programs available from a variety of lenders. Check the Other Loan Sources section of the Student Loan page of the Grove City College Financial Aid Web Site for information on other private student loan programs.

If you have any questions, our customer service consultants are available to assist you. Please call us at 1-800-762-1001 (choose option 1), Monday through Friday from 8am to 5pm Eastern time, or send us an email at eduloans@pncbank.com.

Important Legal Disclosures and Information

  1. When you are applying for a PNC Solution 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. All borrowers will need their financial aid award letter.

  2. Variable interest rates are equal to the London Interbank Offered Rate (LIBOR) index plus a margin of 3.30% with a cosigner and 4.60% without a cosigner. The LIBOR index, adjusted quarterly, is equal to the average of the one-month LIBOR rates as published in the “Money Rates” section of the Wall Street Journal on the first business day of each of the three (3) calendar months immediately preceding each quarterly adjustment date. The current index is 0.50%. Variable interest rates are currently 3.80% with a cosigner and 5.10% without a cosigner.

  3. Repayment examples are for illustrative purposes only. Actual rate and payment may vary based upon interest rate, loan amount, repayment term and if there is a cosigner. The loan terms described are applicable to the 2016-2017 academic year and are subject to change. Variable rates disclosed are effective as of 10/1/16. PNC Bank Grove City College Student Loan is subject to approval.

  4. Get 0.50% off your interest rate with automated payments from your checking or savings account when making scheduled payments that include both principal and interest. If automatic payment is discontinued, you will no longer receive an automatic payment discount. 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 account.

  5. Annual percentage rate (APR) is a measure of what a loan will cost and takes into account the interest rate, loan amount, repayment term and the timing of all payments. Variable rate APRs are currently 3.70% with a cosigner and 4.91% without a cosigner.

  6. Principal loan amount at repayment is the loan amount at disbursement plus interest that accrues during the deferment term. Deferred interest is capitalized (added to principal) at the time the loan enters repayment. 

  7. Estimated monthly payment examples are based on the loan amount, rate and repayment term. Payment example for repayment of principal and interest assumes the borrower remains in school for 37 months with a 6-month grace period prior to entering repayment. All examples assume 30 days to first payment upon entering repayment. For a variable rate loan, the monthly payment may increase or decrease if the interest rate increases or decreases. Minimum monthly payments will be $50.

  8. Total paid is the estimated amount of the loan upon repayment of the principal and interest over the term of the loan.

     

    PNC reserves the right to modify or 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. Loans made through the PNC Bank Grove City College Student Loan Program are subject to approval.

    Rates effective 10/1/2016. These repayment examples are for illustrative purposes only, and are estimated figures based on full deferment of principal and interest. These examples are based on a four-year school term with a six-month deferment period upon graduation -- disbursement date of 8/15/2016, graduation date of 5/15/2020, loan entering repayment 11/15/2020, and first payment due 12/15/2020.

    You are encouraged to explore all scholarship, grant and federal borrowing options before applying for a private loan.

    PNC does not provide accounting, tax or legal advice.