U.S. Bank Student Loans
U.S. Bank is one of the nation’s major lenders and is a leading provider of banking services in the United States. However, it’s important to note: U.S. Bank no longer provides student loans. If you are looking for a student loan, please use our comparison tool. We’ll help you locate and compare options so you can find the money you need for college.
There were two types of U.S. Bank student loans offered: the No-Fee U.S. Bank student loan and the Fixed-Rate U.S. Bank student loan. The No-Fee U.S. Bank student loan had a variable interest rate that could be as low as the prime rate +.20%, which meant a minimum of 3.39% APR. If you set up an auto-repayment mechanism on your No-Fee U.S. Bank student loan, which involved loan payments being automatically deducted from your bank account once a month, you could receive a .50% interest rate reduction. The No-Fee U.S. Bank student loan had, rather obviously, no fees and you received the approved loan amount in full. The borrowing minimum on this U.S. Bank student loan was $1,000 and the annual loan limit was the cost of education less any financial aid received. Deferred payments were available and repayment could last up to 15 years.
The Fixed-Rate U.S. Bank student loan offered a fixed interest rate of 7.99%, or an APR of 7.80%. Like the No-Fee U.S. Bank student loan, you could receive a .50% interest rate reduction when you set up auto-pay and deferred payments were also available. Repayment plans could last up to 15 years. As with the No-Fee U.S. Bank student loan, the Fixed-Rate U.S. Bank student loan had a borrowing minimum of $1,000 and a maximum of the cost of education less any financial aid received.
Applying for U.S. Bank Student Loans
You can no longer apply for U.S. Bank student loans, as U.S. Bank does not offer student loan products. Instead, use our Student Loan Comparison Tool to find loans that are still available to you. Remember that it is important to apply for student loans with a credit worthy co-signer, as having one can not only substantially lower your interest rate, but a co-signer with a strong credit history can greatly increase your chances of being approved for student loans of any kind.
- U.S. Bank no longer offers student loans, but if you’re looking a loan to cover college costs, there are still a wide variety of options available to you.
- SimpleTuition provides a loan search tool that allows you to compare different loans from different lenders, in order to find the one that best fits your financial profile.
- If you find a loan that seems to match up with your funding needs, we can help you begin the application with a lender of your choice.
- Remember to exhaust other funding sources, particularly federal student loans before exploring private loan options.