U.S. Bank Offers Options to Help Pay for Second Semester Education Expenses
December 15 2011 - 2:00PM
Business Wire
With the start of the New Year, college students and parents are
preparing for a new semester and all of the associated costs. U.S.
Bank can help students who have exhausted their federal loans,
scholarships, grants and savings and still need to cover tuition
and other educational expenses.
The following features and benefits are available to students
and parents who choose U.S. Bank as their private student loan
lender:
- Fixed and Variable Rate
Options1. U.S. Bank offers variety when it comes to
choosing a private student loan. Students can choose the option
that’s best for them, whether it’s a variable rate student loan
with low rates and no fees or the security of a true fixed rate
student loan.
- Graduation and Good Grades
Perks2. Graduating from college is a major
accomplishment, and U.S. Bank rewards students with a two percent
principal reduction on student loans. Students who graduate with a
3.30 GPA or higher will have an additional one percent principal
reduction on their student loan.
- AutoPay3 Discount.
AutoPay is the best way to repay. It's easy to set up, always on
time, paperless and also qualifies students for a 0.50 percent
interest rate reduction.
- Look-Back Feature. Students who
have a past due balance from their first semester may apply for a
loan to cover unpaid educational costs, up to six months from the
last date of the loan period.
“There’s a reason U.S. Bank is so committed to giving students
every opportunity to realize their potential,” said Lucille Conley,
senior vice president of U.S. Bank Consumer Lending. “Education
changes lives. U.S. Bank can help students finance their college
education if federal loans, scholarships and grants don’t cover all
their educational expenses.”
For more information, visit the U.S. Bank Student Loan website
at www.usbank.com/student-loans.
Students who are already thinking about next year’s tuition
bills can apply for the U.S. Bank Scholarship for a chance to win
one of 40 $1,000 scholarships for the 2012-2013 school year. No
essay is required, and applying online is fast and easy. Visit
www.usbank.com/scholarship to determine eligibility.
U.S. Bank is one of the top student banking institutions in the
nation, providing a comprehensive line of student banking products
including student loans, campus ID card programs, Internet banking,
U.S. Bank Student Checking and Savings and Visa Buxx® prepaid
spending cards.
U.S. Bancorp (NYSE: USB), with $330 billion in assets as of
September 30, 2011, is the parent company of U.S. Bank, the
fifth-largest commercial bank in the United States. The company
operates 3,089 banking offices in 25 states and 5,092 ATMs and
provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions. U.S. Bancorp and its
employees are dedicated to improving the communities they serve,
for which the company earned the 2011 Spirit of America Award, the
highest honor bestowed on a company by United Way. Visit U.S.
Bancorp on the web at www.usbank.com.
Disclosures
1. Subject to credit approval. Loan approval subject to program
guidelines. Program rules and qualification may be modified or
discontinued at any time without notice
2. To be eligible, loan application must be received on or after
August 1, 2011 and loan proceeds must be disbursed prior to
graduation date. Graduation Perk requires proof of graduation date,
and Good Grades Perk requires proof of graduation date and
cumulative GPA of 3.30 or higher, which must be submitted by the
borrower no later than 12 months after graduation date. 2%
principal reduction for Graduation Perk and 1% principal reduction
for Good Grades Perk will be credited to the student loan account
balance and are based on the original amount financed, excluding
loan fees, interest (including accrued and unpaid interest which
may be capitalized at repayment) and any loan proceeds returned by
school or not disbursed. Borrower cannot be delinquent or in
default at the time of request. Loans that are consolidated,
refinanced or paid in full prior to redeeming the perk(s) are not
eligible.
3. The automatic payment is a requirement to be qualified for
the interest rate reduction benefit. Auto-payment is set up through
the loan servicer. If the auto-payment is cancelled by the
borrower, the rate reduction benefit is lost but may be reinstated.
If the auto-payment feature is revoked, the rate reduction benefit
is lost and cannot be reinstated even if automatic payments are
re-established on the loan.
Deposit products offered by U.S. Bank, N.A. Member FDIC.
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