PNC Student Loans

Understanding PNC Student Loans: What Borrowers Need to Know

PNC Bank offers private student loans for current students and refinancing options for borrowers looking to consolidate existing education debt. These loans can serve a purpose—but they differ significantly from federal student loans in terms of borrower protections, repayment flexibility, and eligibility criteria. 

Loan Options from PNC

PNC offers two main student loan products: 

1. PNC Solution Loan 
Designed for current undergraduate, graduate, and professional students, this loan can be used to cover school-certified costs such as tuition, housing, and books. 

Loan amounts vary by program: 

• Undergraduate and health/medical students: $50,000–$75,000 per year 

• Graduate and health/medical students: $65,000–$105,000 per year 

• Bar study or medical residency loans: Up to $15,000 

The minimum loan amount is $1,000. Cosigners are required for borrowers under their state’s age of majority and are often recommended for applicants without strong credit histories. 

2. PNC Education Refinance Loan (PERL) 
PNC’s refinancing option allows borrowers to consolidate federal and/or private student loans into a single loan, potentially lowering their interest rate or simplifying repayment. However, refinancing federal loans means permanently forfeiting federal protections such as income-driven repayment and forgiveness programs. 

Key refinance terms include: 

• Loan amounts: $10,000–$200,000, based on degree level 

• Aggregate debt cap: $225,000 (or up to $350,000 for well-qualified graduate borrowers) 

• Cosigners are optional but often needed for applicants with limited credit or income. 

Interest Rates and Repayment Terms

PNC offers both fixed and variable interest rates that vary depending on your credit profile and loan type. 

• Undergraduate loans: Fixed: 4.24%–13.99% | Variable: 5.74%–15.49% 

• Refinance loans: Fixed: 6.99%–16.39% | Variable: 7.89%–17.39% 

Repayment terms typically range from 5 to 20 years. Borrowers can receive a 0.50% interest rate discount (0.25% for autopay enrollment and an additional 0.25% if they hold a PNC account). Cosigner release is available after 48 consecutive on-time payments. 

How PNC Compares to Federal Student Loans

PNC may be a good fit for borrowers with strong credit, high income, or specific private loan needs. However, these loans don’t come with the benefits of federal student loans. 

Federal student loans offer: 

• Fixed rates (5.50% for undergrads, 7.05% for grad students in 2023–2024) 

• No cosigner requirement (except for Parent PLUS loans) 

• Income-driven repayment (IDR) plans 

• Public Service Loan Forgiveness (PSLF) 

• Deferment and forbearance flexibility 

PNC loans, by contrast, typically have higher interest rate ranges, stricter credit requirements, and limited hardship relief. A six-month grace period is included—but that’s about it in terms of borrower safety nets. 

Should You Refinance Federal Loans with PNC?

Maybe, but proceed with caution. Refinancing federal loans with PNC means giving up: 

• Public Service Loan Forgiveness (PSLF) 

• Income-driven repayment options 

• Federal deferment and forbearance programs 

PNC refinancing may be a good option for graduates with strong credit and income who aren’t relying on federal benefits and want to lower their rate or consolidate multiple loans. Non-graduates must show 24 months of repayment history and may only refinance up to $25,000. 

Final Thoughts

For creditworthy borrowers ineligible for federal benefits, PNC student loans and refinancing may offer a practical path forward. But for most borrowers (especially those pursuing PSLF, IDR forgiveness, or working in lower-income professions) federal student loans offer more flexibility, forgiveness potential, and borrower protection. 

Need Help Deciding If PNC Loans Are Right for You?

That’s where we come in. At Student Loan Professor, we cut through the noise and help you make informed decisions—whether you’re refinancing, repaying, or just getting started. 

Book a consultation with one of our expert advisors today and get the personalized guidance you need to move forward with confidence.