PNC Solution Loans Scraps Origination Fees On Private Student Loans

The best place to get a student loan is always with the feds. However, federal student loans such as Stafford loans are often not enough to cover the rising cost of education. Because of this, most students need to get an additional private student loan to cover the rest of the expenses. Choosing your lender may prove to be a difficult choice, however lower fees and interest rates are always a good place to start.

PNC Bank announced earlier this year that PNC Solution Loans are no longer charging origination fees. Aside from that, they are offering a 0.50% interest rate reduction for students who opt to use automatic payments. These two deductions can result in large savings especially since origination fees are usually at a hefty 3%.

Other perks from PNC Solution Loans include the ability to decide whether to pay off the loan after graduation or to start paying as soon as possible in order to save on interest. The loan repayment term is also long, as lengthy as 15 years, giving you less stress about heavy payments. PNC Solution Loans can also cover all your college needs, minus financial aid.

The qualifications include:

– The student must be enrolled for at least half-time in a degree program at an approved school
– Creditworthiness must be established. If the student cannot offer a credit standing, he may opt to bring in a co-signer with good credit to co-sign his loan. Creditworthiness can be established by satisfactory credit history or employment history for 2 years, proof of current income, and being a US citizen or permanent resident for at least 2 years.

The minimum loan amount is $1,000. Aside from undergraduates, PNC is also offering loans for graduates or professionals, health professionals, and those who are studying and taking the Bar exam.

PNC Bank $100 Free Checking Account Bonus

PNC Bank is giving away $100 free when you open a checking account with direct deposit. This promotion will end on July 31, 2010, but they will probably have a new promotion going after the end date. To qualify for the $100 you must meet these requirements within the first 60 days of opening your account:

  • Must receive a direct deposit
  • Have at least 10 check card purchases using your PNC Visa Check Card
  • Checking account must remain open even after the first 60 days.

Once all of the requirements are met within the first 60 days of opening your account you will then see a credit of $100 within 60 days. The direct deposit must be at least $400.

Opening this account can be done over the phone or online.

PNC is a FDIC insured bank and has branches across states on the East Coast including Delaware, Florida, Kentucky, Maryland, New Jersey, Ohio, Pennsylvania, Virginia and Washington DC.

You will find that most bank deals have many requirements to get the bonus, but this bank deal has very few requirements than most and should be easy to get the free money.