Key Bank, a major financial institution, offers students a variety of valuable options to help bring students through the processes of planning, budgeting, and paying for college. Key Bank is one of the nation’s major lenders, and Key Bank student loans were once a favorable option for students in need of funding for college. However, as an unfortunate result of the 2008 financial crisis and subsequent recession, Key Bank suspended their entire student lending program, which they have not since resumed. As such, students cannot receive Key Bank student loans to pay for their college education at the moment, nor does it seem that the Key Bank student loans program will be resumed anytime soon.
While Key Bank student loans were great borrowing options for students, in their absence, there are a variety of other lenders. For those who exhaust their federal loan options and still need money for college, private student loans are a good option to cover the remaining costs. When available, Key Bank Student Loans can make college affordable by providing students with much-needed money to pay for tuition, accommodation, books, travel, and any other college-related expenses.
Key Bank acted as a third-party lender for federal loans before the Department of Education took over the process of disbursing all federal loans. As a result of the shift in the process of federal loan disbursement, Key Bank lost a large volume of its student lending. After the mortgage crisis and economic collapse of 2008, Key Bank had to suspend any further issuance of Key Bank student loans for an undisclosed period of time.
Although Key Bank student loans are not currently being offered, you can always look for other options. By searching and comparing loans through our Student Loan Comparison Tool, you can apply for loans with lenders such as SunTrust or Sallie Mae.
- KeyBank discontinued their loan program, but that does not mean you are out of options.
- Use our simple, free comparison tool to easily discover and compare all of your options.
- Federal loans are your best primary source of loans, however if you have a “gap” in your financial aid, private loans are a good alternative.