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Federal Loan Process

In July 2010, President Obama signed legislation eliminating the Family Federal Loan Program (Stafford/PLUS). This legislation made the federal government the sole provider of new Stafford and PLUS loans.

Before you apply for loans, you should have:

  • completed and sent in your Free Application for Federal Student Aid (FAFSA) as soon as possible after January 1st
  • received an award letter from the school you plan to attend
  • researched grants, scholarships and work-study programs

Frequently Asked Questions

Will PNC continue to service my existing federal student loans?

Yes! PNC will continue to service all federal student loans established prior to July 1, 2010. If you have any questions, please contact the PNC Education Loan Center at 1-800-762-1001.

Where should a student go to apply for federal direct education loans?

Students should contact their school's financial aid office or visit for information about applying for federal student loans. The new federal loan application process will be similar to the current process:

  • Students/parents will need to submit a FAFSA each year in order to define financial need for federal aid/loan options.
  • Students will receive an award letter from their school.
  • Students must complete a new Master Promissory Note (MPN) with the Department of Education.
  • Students will need to contact the loan servicer for the Department of Education.

What is a private loan and how do I know if I need one?*

A private loan is a non-government student loan that is borrowed through a bank or private lender. Once students have borrowed the maximum in federal loans such as Stafford and PLUS Loans, they may need additional funds to cover the full cost of education. Private loans can bridge the gap between what's borrowed in federal loans and what's needed for the full cost of an education.

Does PNC offer private student loans?

Yes. For the past 18 years, PNC private student loans have helped students to bridge the gap between federal aid and the full cost of education.

PNC offers students the following private loans:

What types of expenses are covered by the PNC Solution Loan?

The PNC Solution Loan can be used to pay education-related expenses including tuition, room and board, class fees, books, study abroad, a laptop and school supplies.

* Private loans are subject to credit approval.
Customer Service

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Create Your Own Strategy

Whether you're planning to borrow or preparing for repayment, we offer tools to help you create strategies that work best for you.

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You are encouraged to explore all scholarship, grant and federal borrowing options before applying for a private loan.

PNC does not provide accounting, tax or legal advice. Any calculators provided are intended for educational and estimation purposes only, and their accuracy is not guaranteed. The calculators, and any results displayed, do not constitute the advice of, or reflect actual products, services, rates and/or terms available from PNC Bank or its affiliates, and nothing contained in the calculators shall constitute an offer or solicitation of a product or service by PNC Bank or its affiliates.