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Bank of America Student Loans

Overview Bank of America is one of the largest financial services corporations in the United States. It is a multinational company that operates in more than a hundred and fifty countries around the world and caters to more than 90% of American consumers. The main reason behind the bank’s consumer division’s success is that it is aimed at the average person. Apart from checking accounts and credit cards, Bank of America also offers financial solutions for students. These solutions range from online accounts with built in budgeting tools to Bank of America student loans. However, due to the 2008 financial crises, loan options for students were suspended and have not been resumed since.

Bank of America Student Loans

The Bank of America student loan program used to offer a number of options for its student customers. The main objective behind these loans was not only to cover the cost of education but also assist students at every step of the process. Students could easily apply for loans online with the help of step by step instructions and could access expert advice by calling a toll free number. Some of the Bank of America student loans offered in the past are listed below
  • Campus One Student loans
  • Private Bofa student loans
  • School Certified loans
  • Non-Certified loans
  • All of these options came with detailed explanation about the features of the loan and their terms and conditions. Students were also made aware of the terms of repayments and were offered expert solutions specific to their needs.

    Alternative Options

    Although Bank of America student loans are not currently available, there are a number of options that can still help students and their parents with their financial needs. Some of these options include student accounts that offer money management tutorials and instructions on how to effectively plan for college. The bank also offers saving accounts for parents who are interested in sending their kids to college in a couple of years.  And both students and parents can look into college accounts with unique feature like ‘keep the change’ that help students save during their time at college.