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U.S. Bank Offers Options to Help Pay for Second Semester Education Expenses

MINNEAPOLIS & CINCINNATI--(BUSINESS WIRE)--Dec. 15, 2011-- 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.

Source: U.S. Bank

U.S. Bank Public Relations
Amy Frantti, 612-303-0733
amy.frantti@usbank.com

"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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