Key Bank Student Loans
About Key Bank
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.
Suspension of Key Bank Student Loans
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 through Chase, Citi, SunTrust, or Sallie Mae, which offer attractive forms of student financial aid.
Key Bank no longer offers student loans. You can use the SimpleTuition comparison tool to find a list of lenders that still offer student loans, or you can fill out the FAFSA form online to apply for federal student loans. Head to www.fafsa.ed.gov for more information.
My search for Key student loans mentioned calculators. Why are these used?
Although Key Bank does not offer any student loans, it still acts as a resource to help students with their college education. The bank offers savings and planning calculators, student loan checklists, and important information for students on how to finance their education. The main purpose behind these calculators is to help students make a more informed decision.