Private Undergraduate Student Loan
PNC Solution Loan® is an education loan specifically for undergraduate students.[1]
Start ApplicationResume Application »
Fixed APR*
3.49% - 11.29%
*Includes a 0.50% discount for automated payment. Range covers repayment terms from 5 to 15 years.[2] Rates may vary by term.Additional Fixed Rate Details »
Variable APR*
2.39% - 9.59%
*Includes a 0.50% discount for automated payment. Range covers repayment terms from 5 to 15 years.[2] Rates may vary by term.Additional Variable Rate Details »
Key Features & Benefits
With a PNC Solution Loan you can use the funds for any education-related expense.
Flexible Repayment
- 5, 10, and 15 year repayment terms available.[2]
- Immediate repayment, interest-only payments while in school and full deferment of principal and interest options available.[5]
- For deferred payments, repayment begins six months after you graduate or cease to be enrolled in school at least on a half-time basis.[5]
Save Money
- No application fees or origination fees.
- Get 0.50% off your rate with automated payments from your checking or savings account.[3]
Product Details
- Funds are sent directly to the school.
- Cosigner Release: Borrower can apply for a cosigner release after 48 consecutive on-time monthly payments.[4]
Rate Ranges for PNC Solution Undergraduate Loan[2]
5 Year
10 Year
15 Year
Fixed APRs
3.49 - 9.24%
5.29 - 11.04%
5.54 - 11.29%
Variable APRs
2.39 - 8.14%
3.59 - 9.34%
3.84 - 9.59%
Monthly Principal & Interest Payment on a $10,000 loan
$177.16 - $209.54
$99.45 - $138.60
$73.29 - $116.02
| 5 Year | 10 Year | 15 Year | |
| Fixed APRs | 3.49 - 9.24% | 5.29 - 11.04% |
5.54 - 11.29% |
| Variable APRs | 2.39 - 8.14% |
3.59 - 9.34% |
3.84 - 9.59% |
| Monthly Principal & Interest Payment on a $10,000 loan | $177.16 - $209.54 | $99.45 - $138.60 | $73.29 - $116.02 |
Rates include a 0.50% discount for automated payments.[3] and are for the immediate repayment
option.[5] Lowest rates for well-qualified applicants. View Loan Application and Solicitation disclosure »
What You Need to Apply
Before you start your application, review the list of information you'll need to provide.
Eligibility
Student must:
- Be enrolled or enrolling in an undergraduate degree program
- Be enrolled or enrolling at least half time as determined by your school
- Be U.S. citizen or permanent residents
Requirements
Student and cosigner, if any, must:
- Have satisfactory credit and proof of employment and income history
- Have been in business for at least two years if self-employed
- Meet debt-to-income requirements
Additional information to provide
You (and your cosigner, if applicable) will need to provide personal information like:
- Social Security number, driver's license (or State ID), date of birth
- Home phone number, home address and the number of years you lived there
- Email for your cosigner (if applicable)
- Information like your mortgage or rent payments, where you work
and how much you make per year
Tell us a little more about your school
You'll need specifics around the school you want to attend:
- Information like your school's name, major and degree type
- School enrollment date, academic term(s) that the loan will
cover (full year, one semester, etc.) as well as expected graduation date
Start Your Application Today
Apply now to receive a preliminary decision within minutes.[1]
Have Questions? Call to speak to a student lending representative.
Planning for College
Explore options to help pay for a college education,
from understanding costs and financial aid to grants,
scholarships and college savings plans.
$2,000 Scholarship.
12 Winners. Enter today.
Financial knowledge and help with finances can improve your college experience. Here's a chance to get both.[6]
Learn more »
Calculate Rates & Payments Information for
PNC Undergraduate Loans
You’re a few steps away from finding your preferred option to funding your education. Use the tool below to see different rates and payment information.
Application and Solicitation Disclosures
- For additional rate and loan cost information view loan Application and Solicitation Disclosures
- APRs represent interest rates inclusive of any fees and deferment periods
Additional Features & Benefits
- Unpaid interest is capitalized one-time at start of repayment. This interest is added to the principal amount of your loan
- Interest may be tax deductible; consult your tax advisor
- Outstanding debt will be forgiven upon the death of the borrower
Applying with a Cosigner
- Applying with a creditworthy cosigner may increase chances of approval. A cosigner is typically required for undergraduate students; a credit-worthy cosigner is required for 17-year old students.
Military Benefits
Supporting Our Servicemembers
The PNC Student Loan Center is grateful for your service and we would like to help you understand your benefits and protections under the Servicemembers Civil Relief Act (SCRA).
The SCRA provides eligible service members with financial relief and protections that apply to private and federal student loans. They may enable you to:
- Qualify for a reduced interest rate and a waiver of applicable fees
- Be eligible to apply for military deferment/forbearance options that are available to qualifying members of the service. Please note that during periods of deferment and forbearance, interest will continue to accrue and will be capitalized (added to the current principal balance) at the end of any such period.
PNC will also apply benefits and protections on eligible accounts, including:
- Auto loans
- Mortgage and home equity secured loans
- Line of credit, credit card and installment loans
- Commercial assets where the borrower is eligible for SCRA benefits or the guarantor is eligible for SCRA protection and PNC seeks recovery from the guarantor
- Equipment loans
- Deposit accounts (in limited situations)
- Safe deposit boxes (in limited situations)
To find out more, please contact us at:
- 844-PNC-SCRA (844-762-7272)
- Servicemembers@pnc.com
- PNC Bank / Servicemembers Operations Center, BR-YB58-01-U / PO Box 5570 / Cleveland OH 44101-0570
- Fax: 855-568-4532
For more information on PNC’s commitment to Active Military, Veterans and their families, please visit PNC’s Military Banking page
Have Questions?
If you have any questions, our customer service consultants are available to assist you.
Important Legal Disclosures and Information
Application Process: 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 to provide personal information including a driver’s license or state ID, employment and income information. PNC Solution Loan borrowers will need their financial aid award letter.
Loan Limits: Annual loan maximum: $50,000. Maximum aggregate educational debt (including federal and private student loans): $225,000.
PNC Solution Loans are subject to credit approval. Certain restrictions and conditions apply. You are encouraged to explore all scholarship, grant and federal borrowing options before applying for a private loan.
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Annual Percentage Rates (APRs): APRs include a 0.50% interest rate discount for automated payments and are for the immediate repayment option. Interest-only and full deferment repayment options are also available. Rates effective as of 8/1/2022 and are subject to change at any time.
Fixed Annual Percentage Rates (APRs): Fixed rates are based on the creditworthiness of the borrower and cosigner, if any.
Variable Annual Percentage Rates (APRs): Variable rates are based on the Prime Rate index plus a margin depending on the creditworthiness of the borrower and cosigner, if any. The Prime index, adjusted monthly, is equal to the Prime Rate as published in the “Money Rates” section of The Wall Street Journal ‘(Eastern Edition)’ on the first business day of the immediately preceding calendar month. The Prime index is currently 4.75%. If the index increases or decreases, your rate will increase or decrease accordingly. The rate will not exceed 18%.
The lowest APR is available to well-qualified applicants. Your actual APR will be based on your credit qualifications, loan program, interest rate option, repayment term, repayment option and whether you elect the automated payment feature.
Loan Payment Examples: Loan Payment Examples: The monthly payment per $10,000 borrowed at a fixed-rate range of 5.29% APR to 11.04% APR for 10 years means you would make 120 payments that may range from $107.72 to $138.60. The monthly payment per $10,000 borrowed at a variable-rate range of 3.59% APR to 9.34% APR for 10 years means you would make 120 payments that may range from $99.45 to $129.02. For the variable-rate loan, monthly payment may increase or decrease if the interest rate increases or decreases. Estimated loan payment examples assume 30 days to first payment and are for the immediate repayment option. Payments vary for other rates, loan amounts and repayment terms.
For additional rate and loan cost information view loan Application and Solicitation Disclosures.
Automated Payment Discount: During repayment, an interest rate discount of 0.50% is available for automated 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. Automated payment can be established through the loan servicer American Education Services (AES). Advertised rates include the 0.50% automated payment interest rate discount. The rate discount will be applied at the time automated payment is established. If automated payment is not established, the available rates will be 0.50% higher than the advertised rates. If automated payment is established and discontinued at any time during repayment, the borrower will no longer receive an automated 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. PNC limits the number of transfers that may be made from a savings or money market account. Please see your account agreement for more information.
Cosigner Release: A request to release a cosigner 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 minimum monthly payment must be made for the most recent forty-eight (48) months straight without any interruption. To qualify for a cosigner release, the borrower must submit a request, meet the consecutive, timely payment requirements, provide proof of income and pass a credit check.
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Repayment Options: Three repayment options are available - Immediate repayment of principal and interest, interest-only payments while in school and full deferment of principal & interest until six months after graduating or ceasing to be enrolled at least half-time in school. You will receive quarterly interest statements during the deferment period. Paying the interest as it accrues each quarter will save you money over the repayment term of the loan because any accrued interest that you do not pay will be added to the principal balance at the end of the deferment period.
Scholarship: No purchase necessary to win. Void where prohibited or restricted by law. A purchase or transaction does not increase your chances of winning. Entries will be accepted at pnc.financialliteracy101.org/scholarship. Scholarship Sweepstakes is open to Undergraduate students enrolled at least half-time in a PNC Solution Loan®-eligible college or university who are 18 years of age or older at time of entry. To enter, you must create a PNC Financial Literacy account, meet the eligibility requirements, and opt-in to the drawing and agree to the Official Rules. Once you have created the account and have opted into the Scholarship Sweepstakes, you will be eligible for the subsequent two drawings that take place within 12 months of registration. Employees of Decision Partners LLC and The PNC Financial Services Group, Inc., their affiliates, subsidiaries, advertising and promotion agencies, as well as such employees' immediate family members (or persons living in the same household), are not eligible. The Sweepstakes is governed by the law of the Commonwealth of Pennsylvania. Six (6) $2,000 college scholarships will be awarded twice in 2022. Odds of winning will depend on the number of eligible entries received. On or about June 1, 2022, and December 1, 2022, winners will be drawn at random from all entries submitted. Winners will be contacted by email and/or telephone. Taxes are responsibility of winner. Prizes are not transferable. No substitution of prizes permitted. Scholarship winners will be required to execute and return a Verification of Eligibility and Release of Liability. See official sweepstakes rules at pnc.financialliteracy101.org/scholarship/official_rules. Sponsored by PNC Bank, National Association.
PNC does not provide accounting, tax or legal advice. Financial literacy content and interactive calculators are provided for educational, informational and illustrative purposes only. The utilization of calculators and any results displayed do not represent an offer or solicitation for a product or service by PNC Bank or its affiliates. PNC does not guarantee the accuracy or applicability of these resources to your circumstances. Please consult a financial, tax or legal advisor regarding your specific situation.
PNC Solution Loan is a registered mark of The PNC Financial Services Group, Inc.
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