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Citi Student Loans

Attaining a college degree is instrumental for becoming a part of the current workforce propelling the modern, competitive economy. However, it’s easier said than done, as college education is not cheap. Moreover, federal funds are not unlimited, so even after being granted a financial aid package comprising of federal and institutional aid, you, as a student, may be in a predicament losing sleep thinking incessantly about the gap between your finances and college expenses. In this endeavor, private student loans such as Citi student loans are a great way to take you out of your dilemma.

About Citi Student Loans:

Established by the well-reputed Citigroup Inc., Citi student loans encompass several types of student loans distinguished on the basis of your student type. If you’re an undergraduate student, you can apply for CitiAssist Undergraduate Loan. Graduate students have their own type of student loans, and so is the case for law and medical students; the several types of Citi student loans usually differ on the basis of interest rate and repayment period.

Citi Student Loans for Undergraduates:

The CitiAssist Undergraduate Loan has the following features:
  • Repayment period is fifteen years.
  • There are no loan fees.
  • Annual percentage rate (APR) ranges between 3.2% - 9.09%.
  • No payments are required during college, although it’s more beneficial to start paying back your loan as early as possible to avoid the accumulation of interest, otherwise you’ll be shocked beyond measure by the huge size of your repayment amount.
  • Grace period of six months is granted after college for you to find a job and arrange for funds before starting the loan repayments. Again, it’s better to start earlier to avoid later regrets. Moreover, there’s no penalty for prepaying your loan.

Applying for Citi Student Loans:

Applying for Citi student loans is fairly simple and can be done online. However, it’s recommended that you make arrangements for a cosigner with a good credit history and an annual income of at least $18,000. Bringing a cosigner not only improves your chances of loan approval, but it may also get you a lower interest rate. However, if you don’t have a cosigner, then you should personally have a clean credit history as Citi student loans are credit-based.