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PNC Solution Loan for Undergraduates

Who Is the Borrower?
 Eligible undergraduate students; borrower must be U.S. citizen or permanent resident and must have resided in the U.S. for the previous two years.
Interest Rate
 Variable interest rate is indexed to the 3-month LIBOR rate as published in the Wall Street Journal. Rates are tiered and "best" tier borrowers get loans at the 3-month LIBOR rate plus 4%. Rates range up to 3-month LIBOR plus 10.75%. The rate is capped at 18%. Rates are reset quarterly.
Credit Criteria
 Approval, interest rates and origination fees are based on the student borrower's and/or co-borrower's creditworthiness as determined by PNC Bank.
Fees
 Loan origination fees range from 0% to 6% and are based on the creditworthiness of the borrower and co-borrower. There are no disbursement, repayment or default/insurance fees.
Minimum and Maximum Allowed
 Loans are approved from $1,000 up to the total cost of education minus any financial aid, including any Federal Direct Stafford Student Loan. The maximum aggregate limit is $200,000.
Repayment Terms
 Standard repayment of principal and interest begins immediately. The maximum repayment period is 25 years for balances over $40,000; 20 years for balances under $40,000. No prepayment penalties.
Enrollment Status
 Students must be enrolled at least 6 credits per semester in an undergraduate degree program.
Deferment Options
 Options for interest-only repayment and deferment of principal and interest. Repayment of principal and interest begins 4.5 years after the first disbursement or 6 months after the student ceases to be enrolled, whichever occurs first. Armed Forces deferments available for up to 36 months. Hardship forbearance may be granted under certain circumstances.
Can Loan be Sold?

PNC has no plans to sell its loans.
Other Borrower Benefits
 Get 0.25% off your rate with automated payments from your checking or savings account. A co-signer release option is available after the initial 48 consecutive on-time monthly payments.
How to Apply

Get more information and/or apply online: http://www.pnconcampus.com/studentloanguide/privateloans/
undergraduates/default.aspx

Call PNC Bank at 800-421-4817.


This information is based on information provided by lenders identified in response to a Request for Information issued by Boston University. The terms and conditions of any loan may vary depending on, among other things, market conditions and your credit score. Proposed terms may have changed since lenders provided information to Boston University. You should contact the lender to obtain current terms and information. You should review any proposed terms and obligations carefully.

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