PNC Private Student Loans: Closed to New Applicants, What Now

What PNC changed

PNC's private student loan page carries a notice: as of December 18, 2025 at 10 a.m. Eastern time, PNC no longer accepts new student or education refinance loan applications. PNC encourages people to explore other loan options to pay for their education.^[1]

• PNC Student Loan for undergraduate students
• PNC Student Loan for graduate students
• PNC Student Loan for health and medical professions
• PNC Student Loan for health professions residency
• PNC Student Loan for bar study
• PNC Education Refinance Loan

Sources^[1]

The page now shows the notice, a set of FAQs and a link for applications that were already in process. Its legal note still lists PNC Solution Loan as a registered mark of The PNC Financial Services Group.^[1]

Who this affects

• Students and families who planned to apply: new PNC student loan and education refinance applications are closed.
• Applicants who had already started: application records created before 10 a.m. Eastern on December 18, 2025 could still be submitted, with up to 30 days from the start date to finish.
• Current borrowers in school, in deferment or in repayment: PNC says you do not need to take any action.

Sources^[1]

By our reading of those dates, the 30-day window for applications in process ended in January 2026, so there is no longer a way to submit a PNC student loan application. If you believe you have an application in progress, PNC's number for questions about active applications is 1-800-762-1001.^[1]

Rates and terms on existing PNC loans

PNC says the closure does not change the terms and conditions of existing loans, including the interest rate and repayment terms. They remain as stated in your Credit Agreement and Final Disclosure.^[1]

If your approved loan still has disbursements pending, PNC says there is no impact: all pending disbursements will be made as scheduled. PNC also says the change is not related to your credit score.^[1]

PNC's student loan page no longer lists rates for new loans, so this guide does not quote any. To see the rate on a loan you already have, check your Final Disclosure or your servicer account.

What borrowing for school costs now: federal versus private

With PNC out of the market, the main cost question for new borrowers is federal versus private. The Department of Education's Federal Student Aid office says private student loans are generally more expensive than federal student loans, and that if you need to borrow for college or career school, you should start with federal loans.^[2]

Sources^[2]

The table summarizes the Department of Education's comparison as published on the day we checked. It says private loans differ by lender and by type of loan, so read the terms of any private offer closely. Check current federal interest rates on StudentAid.gov before you borrow.^[2]

Where to start instead: the FAFSA form

To get a federal student loan, you must first complete the Free Application for Federal Student Aid, known as the FAFSA form. As the name says, it is free, and you file it on StudentAid.gov.^[2][3]

• Colleges and career schools use the FAFSA form to work out how much aid you can receive, which could include grants, scholarships, work-study and loans.
• Federal Student Aid says any student, regardless of income, who wants to be considered for federal, state and school aid should complete it.
• You need a verified account username and password (FSA ID), a parent or spouse contributor's email address, and income and asset information if required.
• You must apply every year. Federal Student Aid says people typically finish their section in 12 minutes or less.
• Some states and schools set their own FAFSA deadlines. Missing a state deadline does not affect your eligibility for federal student aid.

Sources^[3]

When we checked on September 30, 2026, the 2027–28 FAFSA form was available to all students and contributors.^[3]

Limits for current PNC borrowers

• No transfer: the closure does not let you move your PNC loans to another lender. If you want to refinance, PNC suggests looking at education refinance loans that other financial institutions may offer.
• No federal programs: PNC student loans are private loans and do not qualify for federal programs or forgiveness.
• In deferment: no action is needed, and AES or Aspire will contact you about repayment when the time comes.
• In repayment: no action is needed, but keep making your loan payments as required.

Sources^[1]

The Department of Education adds that private student loans cannot be consolidated into a federal Direct Consolidation Loan, although they may be refinanced.^[2]

Refinancing replaces your PNC loan with a new loan whose terms are set by the new lender. Before you give up your current terms, compare the rate type, the total amount repaid and the hardship options on both loans.

Contacts and next steps

Sources^[1]

If you have trouble with a private student loan servicer, the Department of Education's guidance is to contact the servicer first, and then the Consumer Financial Protection Bureau for help.^[2]

If you are a student who still needs to borrow, private student loans are made by banks, credit unions, state-based or state-affiliated organizations and some schools, according to the Department of Education.^[2]

• File the FAFSA form and review the federal aid your school offers before looking at private loans.
• If federal aid is not enough, get offers from more than one private lender and compare them side by side.
• Compare fixed against variable rates, when payments start, cosigner requirements, hardship options and the total amount repaid.
• Ask each lender whether there is a prepayment penalty, and whether applying uses a hard or soft credit check.