What are some banking institutions that offer student loans?


Quick Answer

Some banking institutions recommended by financial experts include, Citizen's Bank, Discover Bank, Nelnet, CU Student Loans, Wells Fargo and Sun Trust, notes Investopedia. Some of these institutions also have websites devoted to helping out student borrowers with information and online applications, such as Student Loan.com, operated by Discover Bank.

Continue Reading

Full Answer

College can be more expensive than even federal aid loans and grants can cover. To make up the difference students may consider seeking a private student loan through a banking institution. There are many more banks in the United States that make loans available for students, too.

  • Cedar Education Lending: Offers loan consolidation for students with high interest loans and makes an interest only loan available for students to repay in four years.
  • Wachovia: Offers an Education Loan that pays up to the full amount of college expenses. Get a cosigner and benefit from lower interest rates on this loan.
  • Bank of America: Offers private loans and a special Bank of America TERI Loan for lower income students seeking higher education.
  • CitiBank: Offers CitiAssist loans for students entering different areas of education undergraduate to healthcare.
  • GMAC: GMAC offers loans for as little as $1,500 up to $40,000.
  • Chase: Chase offers a loan to fill the gap between tuition and other financial aid with in-school deferment that won't require payments until after graduation.

Students should be careful when seeking a private loan as it may not offer the same deferrals and repayment guarantees that federally backed loans offer. Some private loans may even require students to start making repayments while still in school, notes Go College.

Learn more about Credit & Lending

Related Questions