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U.S. Bank Offers Zero Origination Fee Federal Stafford Loans

MINNEAPOLIS--(BUSINESS WIRE)--Feb. 17, 2006--The U.S. Bank Student Banking Division has announced that it will waive all borrower origination fees normally charged to Stafford loan borrowers on a nationwide basis. Effective July 1, 2006, all new Stafford loans disbursed after that date will receive the new zero origination fee benefit. Removing the fee will allow borrowers and their respective schools to access more of their loan funds immediately.

"This borrower benefit is one more way U.S. Bank shows its commitment to offer competitive loan products and superior Five Star Service," notes Russ Kruse, senior vice president and manager of the U.S. Bank Student Banking division. "In addition, U.S. Bank continues to offer outstanding student products and services including PLUS and consolidation loan programs."

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, internet scholarship program and search service, campus ID card programs, Internet banking, U.S. Bank student checking and savings, and Visa Buxx(R) prepaid spending cards. U.S. Bank Student Loans offer quality toll-free customer service, state-of-the-art loan processing, and online application accessibility. Student loan products include Federal Stafford, PLUS, Consolidation, and Supplemental education loans.

U.S. Bancorp (NYSE:USB), with assets of $209 billion, is the 6th largest financial holding company in the United States. The company operates 2,419 banking offices and 5,003 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 is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com.

CONTACT: U.S. Bank
Amy Frantti, 612-303-0733

SOURCE: U.S. Bank

"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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