Does BB&T Offer Student Loans?
BB&T (Branch Banking & Trust) Corporation is an American bank that offers both retail and commercial banking services. In addition, the bank also offers loans, mortgage, trusts, international banking, retail brokerage and other related services. Although BB&T’s office is located in North Carolina, it has more than 1,800 branches across the USA.
BB&T and Student Loans
The Loan Services Department at BB&T is responsible for distributing all types of loans to its clients, as it reviews loan documents and decides on how much loans to disburse. Although the bank’s primary focus is not student loans, students may be able to borrow money from the bank in the form of private loans. While these loans often have interest rates higher than federal loans, they may be your only choice if you have already run out of all your federal loan options. However, you may use these loans for various purposes, like covering your living and travel costs during the course of your education and even supporting your family while you take time off to go back to school.
If you are considering approaching BB&T for funding, then you may also want to explore their 529 plans. These plans offer tax-advantaged savings for future college expenses. However, you should start these plans early if you want to take advantage of them. Also, check with BB&T to see if the 529 plan you are opting for allows you to make withdrawals immediately or if you will be subject to a waiting period.
The BB&T Scholarship
For children of the employees of BB&T, the bank also offers the BB&T Scholarship. This scholarship provides a $1,000 stipend for ten students every year, renewable for the length of an undergraduate degree. These scholarships target exceptionally bright students who are children of BB&T employees and its subsidiaries’ associates. The National Merit Scholarship Corporation (NMSC) administers the scholarship and it is an independent and not-for-profit organization.
For more information on BB&T student loans and other loans that can help you finance your college education, explore this website and especially because our Loan Comparison Tool is especially useful for finding the loan option that suits you best. Of course, you should always consider all financing options and if you have to borrow money, make sure you approach the lender that you are most comfortable working with, as well as the one that offers the best interest rates.