Up-date: Until recently, Bank of America administered Federal student education loans. Presently, these loans are released solely through the U.S. Department of Education Direct Loans Program. Extra independently funded pupil funding options have actually historically been part of Bank of America’s financing profile, however these figuratively speaking programs have already been suspended until further notice.
The next entry is given to historic guide also to act as a resource; should Bank of America initiate figuratively speaking at a date that is future. For distinct and current information, contact Bank of America straight at 1-800-344-8382.
Bank of America, like a number of other lenders, provides student education loans to aid fund your university experience. At first glance, numerous personal figuratively speaking look equivalent, but you will find distinctions worth noting.
Education loans are organized differently than many other loans, in addition they offer unique advantageous assets to borrowers. It is essential to make distinctions involving the kinds of loans Bank of America provides, so you will make informed education financing decisions.
Bank of America is just pupil loan originator. Whenever you are awarded student education loans, in your federal school funding package, you may be permitted to decide on your own personal lender. Bank of America can provide your preferences in this region.
Bank of America handles the most frequent federal loans, Including Stafford Loans, PLUS loans (for parents), Graduate Student PLUS loans and Federal Consolidation Loans.
Stafford loans are issued as вЂdependent’ loans or as вЂindependent’ loans. Whenever determining school funding requires for reliant pupils, the Department of Education considers parental earnings, within the aid application that is financial. Continue reading