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
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
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.
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