Bank College Loans: Little Known Secrets to Financing Your Education

Bank college loans offer an effective way to cover the cost of college education beyond what you can pay for through private means.

3 Types of Bank College Loans

  1. Student Loans - The federal government backs a variety of loan programs available through your local lenders. The programs can be subsidized or unsubsidized by the government. Often they feature below-market interest rates and favorable terms such as payment deferment based on your economic need and variable qualifying standards.

  2. Parent Loans - The government also backs a selection of loans for parents of undergraduate students called the PLUS program. If a student cannot qualify for a loan, these offer a way for parents to help while receiving the benefits of student loans listed above.

  3. Private Loans - For needs beyond private resources and federally-backed loans, private bank loans can round out your ability to finance your education. Typically, these loans are at market interest rates and have the same qualifying requirements as other bank loans.

Flexible Alternatives

Bank college loans feature a variety of products that give you the flexibility to find a loan amount and loan terms right for you. This can even help you overcome poor credit ratings. Many of these bank college loans have the same benefits as loans through federal programs and are, in fact, offered by the same government organizations.

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