Bank of America Student Loans Review
Bank of America is one of the most reliable Banks to offer students loans with competitive rates and conditions.
It has historically become the Federal help bank, so federal pay-outs for students were made via it.
Currently, the situation has changed and Bank of America student loans are presented by the bank separately, not depending on the country legislation.
Definitely, there are hundreds of banks offering student loans with different interest rates, various conditions and security rates.
Being a student you have a rather rich choice of places where to take student loan, though before making your decision you have to estimate all the merits and flaws of each offer.
Talking about Bank of America student loans, their strong and weak points, one should notice that it is the perfect place to make all the desires and ambitions of the student come true.
Only the most competitive interest rates are offered by Bank of America.
Besides there are few options you may choose from, so it is up to you what to opt for.
It is even worthless to speak about security and reliability of the bank and all its programs, as these are its main concerns.
See, also: Top banks for college students
Being a world famous and approved place for student loans Bank of America guarantees you the highest security rate.
Choose a Suitable Program
Each of the bank’s offers is good for one group of people and not that profitable for others. Here you need to learn the information thoroughly and make the right decision to get the perfect loan with acceptable and low interest rates.
All the most common federal loans are provided by the Bank of America:
- Stafford Loans include dependent and independent loans. For ‘dependent’ students living with their parents the bank takes into account the parents’ income and in this way the interest rate may be a bit bigger. Another type of student loans provided by Bank of America is an ‘independent’ loan. Here the assets of the student only are taken into account. Thus, the size of the loan may be bigger while the interest rate is lower.
- School Loan is another possible option for students to get the needed funds for education purposes. They are of two types: school certified and non-certified loans.
These are all types of private loans for students that are available for undergraduates and graduates with acceptable conditions.
Bank of America handles some differences in these loans depending on the presence of the certificate by your school or college.