Our Custom Choice student loan review showcases the platform’s low advertised interest rates, flexible repayment plans, and unique graduation-based rewards.
With options like flat payment or interest-only payment plans during school and a principal reduction incentive for completing a degree, Custom Choice offers features that appeal to a wide range of both undergraduate and graduate students.
In this review, we’ll explore the features, pros, cons, and limitations of Custom Choice student loans.
What is Custom Choice?
Custom Choice is a private student loan program offered through a partnership between Citizens Bank and Monogram LLC. The loan is funded by Citizens and serviced by a third party. You may recognize the Citizens name, as it makes our list as one of the top five student loan refinancing providers available.
Custom Choice student loans are designed for undergraduate and graduate students attending eligible U.S. colleges and universities.
Loans are available for permanent residents and U.S. citizens and can be used to cover education expenses after other forms of financial aid, including scholarships, grants, and federal loans, have been exhausted. Borrowers can apply online and prequalify with a soft credit check.
Despite its affiliation with student loan refinancing leader Citizens Bank, refinancing options through Custom Choice aren’t available.
Student Loans and Refinancing
Pros
Soft credit check available for prequalification
2% principal reduction available with proof of graduation
Cosigner release after 36 consecutive on-time payments
No late fee penalties
Cons
No student loan refinancing option available
Loan terms are limited to 15 years
Flat payment repayment option requires $5,000 loan minimum
Custom Choice Student Loan Reviews: Features and Benefits
Custom Choice offers its customers several benefits, including flexible repayment options and rate discounts. It’s one of very few private lenders offering a flat $25 monthly in-school payment option and a graduation reward.
- Fixed and variable interest rates available
- Multiple repayment plans, including interest-only and flat payment
- 2% principal reduction with proof of graduation
- Loan amounts from $1,000 up to $99,999 per year, with an aggregate max of $180,000
- Online application with soft credit pull
- Terms up to 15 years
- Cosigner release available after 36 qualifying payments
- No origination fees, late fees, or prepayment penalties
Custom Choice Student Loan Reviews: Editorial Rating
Trusted Company Reviews rating score for Custom Choice: 7.7
Custom Choice scores well for flexible repayment options and borrower rewards. The flat-payment option, interest-only choices, and graduation incentive are rare among private loan providers. However, the complete lack of refinancing options lowered its final score.
| Fees | $0 |
| Student loan terms | 7, 10, or 15 years |
| Student loan refinancine terms | Not available |
What We Like
Custom Choice caters to students who want flexibility and wish to take advantage of the company’s potential rewards for graduating. Borrowers also benefit from no fees and simple application tools.
- $25 flat payment option during school
- Graduation reward with principal reduction
- No additional fees
- Soft credit pull for prequalification
What We Don’t Like
Custom Choice has strong features, but it isn’t perfect for everyone. You must look elsewhere if you’re looking for student loan refinancing.
- No student loan refinancing available
- Not all repayment options are available for all loan amounts or applicants
About Custom Choice
Custom Choice loans are issued by Citizens Bank and supported by Monogram LLC. The company offers a streamlined loan application process online, and borrowers can apply individually or with a cosigner. To qualify, borrowers must meet minimum credit and income standards.
Rates vary depending on credit histories, repayment plan, and loan term. However, it’s important to note that the best APRs are generally offered only to those with excellent credit scores and histories.
Custom Choice Minimum Requirements
While Custom Choice is pretty tight-lipped about its qualification requirements and precisely how it determines your rates and terms, there are some minimums to be aware of.
- Be a U.S. citizen or qualifying non-citizen resident
- Have a Social Security Number or non-citizen equivalent
- Provide proof of income
- Provide proof of school enrollment at least ½ time in a degree program
- Be at least 18 years old
- Have a minimum credit score of 625 (Average Custom Choice borrower has a 700 or greater score)
Repayment Details
Custom Choice offers three main repayment plans to meet the needs of borrowers with varying budgets and goals. Each plan affects how much you pay during school and how quickly you begin full repayment. Choosing the right plan can help you manage your monthly budget while minimizing the total cost of borrowing.
| Immediate Repayment | Full monthly payment starts 30–60 days after disbursement |
| Deferred | No payments while in school – Start payments 6 months after graduation or leaving school |
| Interest-Only Payment | Pay interest during school, then full repayment after grace period |
| Flat Payment | Pay $25/month while in school (loans must be $5,000+ and terms of 15 years) |
Immediate repayment helps reduce the total interest paid over time, but may not be feasible for every student. Interest-only payments strike a balance by keeping monthly payments lower while preventing your balance from growing. Flat payments are the most budget-friendly during school but will result in a higher loan balance upon entering repayment. Deferred payments are the most expensive option over time, but allow you to make no payments until after graduating or leaving school.
Custom Choice Student Loan Reviews: Customer Ratings
Customer reviews for Custom Choice loans are generally positive. Many reviewers appreciate the ease of the online application and flexible repayment choices. The graduation reward is also a huge plus. On the other hand, negative comments occasionally mention challenges with documentation processing. Overall, the lender’s transparency and reliability earn it solid ratings.
Is Custom Choice Legit?
Custom Choice is a legitimate student loan product. Loans are funded by Citizens Bank (a well-known financial institution) and managed by Monogram LLC. The program is compliant with federal lending regulations and offers clear terms and conditions to borrowers.
Who is Custom Choice Best For?
Custom Choice is ideal for:
- Students who want flexible in-school repayment plans
- Borrowers with excellent credit scores and histories
- Applicants looking for principal reduction after graduation
It may not be ideal for:
- Borrowers who need student loan refinancing
- Applicants with less than good credit scores
Custom Choice Alternatives
Custom Choice offers solid features for students seeking private loans, but if you’re looking to refinance student loans or need loan options with more lenient credit score flexibility, here are some top-rated alternatives from our Best Private Student Loan Refinancing providers overview. More student loan lender options are also available in our review of the Best Private Student Loan Companies.
- Credible: A loan marketplace that lets you compare prequalified offers from multiple lenders with one application.
- MEFA: A nonprofit lender offering no-fee student loans and refinancing options with fixed rates.
- RISLA: Known for fixed-rate loans and borrower protections, RISLA is a strong choice for refinancing.
- Citizens Bank: Go past Custom Choice and straight to the source.
- ELFI: Offers competitive rates for refinancing, especially for borrowers with strong credit.
Research Data
Before applying for a private student loan, Citizens and Monogram encourage borrowers to exhaust all other financial aid options, including grants, scholarships, and federal student loans. Custom Choice is intended as a supplemental resource for students who need to bridge funding gaps.
The loan amount is capped at $99,999 per academic year, with a total maximum of $180,000. Custom Choice performs a soft credit pull for rate estimates and requires a hard credit check once you accept the terms and move forward. Your credit history, repayment plan, and loan amount affect the final offer.
Borrowers who graduate and provide proof are eligible for a one-time principal reduction, a unique feature not commonly found in the private student loan market. You may also qualify for a 0.25% autopay discount.
While Custom Choice doesn’t offer student loan refinancing, it does allow for flexible interest-only payments, flat payments during school, and long-term financing up to 15 years. All loans are subject to lender approval and underwriting criteria.
Frequently Asked Questions
How big of a loan can I get with a 700 credit score?
Is Custom Choice a good student loan?
Source
Logo image source: customchoice.com
Deane Biermeier is a respected authority in financial research, writing, and editing, renowned for his in-depth analyses and expert advice. With a distinguished career that previously spanned home improvement, real estate, and finance topics, Deane's role at Trusted Company Reviews focuses exclusively on finance.
Deane continues his contributions to leading publications such as Forbes Home, US News and World Report, Newsweek Vault, and others.
Since joining TrustedCompanyReviews.com in 2023, he has solidified his reputation as a crucial resource for clear, factual financial guidance.
Deane is currently enhancing his expertise by studying at the University of Minnesota to become a certified financial educator. This new qualification is set to further enrich the advice and insights he provides, bridging the gap between academic financial theory and practical application.
Deane Biermeier
Last Updated: April 20, 2025
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