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U.S. Bank Offers New Fixed Rate Student Loan


U.S. Bank is now offering a new Fixed Rate Student Loan, featuring a low fixed rate of 7.99 percent (7.80% - 8.46% APR)1. This fixed rate loan option is a smart choice for students who want security of a fixed rate for the life of the loan.

"We are excited to offer our customers the choice of either a fixed or variable rate student loan," said Lucille Conley, senior vice president of U.S. Bank Consumer Lending. "Education changes lives, and U.S. Bank is committed to giving students every opportunity to succeed. Now with the choice to apply for the interest rate option that best fits their needs, we hope to ease the burden of the increasing cost of college."

The U.S. Bank Fixed Rate Student Loan offers a stand alone fixed rate product that does not fluctuate. All applicants will receive an interest rate of 7.99 percent (7.80% - 8.46% APR) 1 if approved for the loan.

In addition to a low fixed rate, the U.S. Bank Fixed Rate Student Loan also offers the same benefits as its existing variable rate No Fee Student Loan, including AutoPay discount2, optional deferred payments3 and the option to add a cosigner which may improve the loan's APR. Students should always explore federal loans, grants and scholarships before private loan options, but when they need funds to fill the gap, a U.S. Bank Student Loan is a smart and worry-free choice.

Along with the new Fixed Rate Student Loan product, U.S. Bank Student Lending is also debuting a new application process, so students can "Apply in 5 Minutes or Less." This quick and easy online application process can be found at its newly redesigned website, usbank.com/studentloans, which encourages an interactive customer experience while allowing students and parents to quickly compare U.S. Bank's two student loan options and determine the best loan for their needs. U.S. Bank's website also offers financial education to borrowers by providing a breakdown of college financial aid options, the application process for federal loans and a planning calendar for high school students.

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(R) prepaid spending cards.

U.S. Bancorp (NYSE: USB), with $311 billion in assets as of March 31, 2011, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,082 banking offices in 25 states and 5,238 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.

1. Subject to normal credit approval. Loan approval subject to program guidelines. Program rules and qualifications are subject to change at any time without notice. Reserve fees apply. 2. 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. 3. Interest will continue to accrue during periods of deferment. This deferred interest, if not paid, will be capitalized (added to your principal loan balance, and interest will accrue on this new balance) at repayment.

Deposit products offered by U.S. Bank, N.A. Member FDIC.


U.S. Bank
Lisa H. Clark, Media Relations, 608-877-7517
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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