Consolidating private student loans bank of america

Posted by / 21-Oct-2016 03:46

In 2008, Bank of America announced that it would stop offering private student loans and instead would focus its business on lending under programs backed by the government.Like many other lenders, Bank of America made this move after it deemed the student loan market unprofitable during the ongoing credit crunch.Types of bank of America students loans: Bank of America offers six types of student’s loans including federal student loans, private student loans, and loans for students with bad or poor credit, student consolidation loans and alternative loans.Federal Student Loans: The federal family education loan program (FFELP) is designed to offer American college students and their families with extra financial help funded by the federal government.Student loan consolidation rates can also be calculated by using the BOA's handy online calculator.Eligible students can use this special program to consolidate all the federal loans including Disadvantaged Student Loans and Federal Direct Loans.

CONSOLIDATING STUDENT LOANS If you have multiple student loans, STUDENT LOAN consolidation can offer some simplicity to your repayment.The BOA Student Center also provides vital information on college savings plans, FFEL student loan products, college financial planning and BOA private loans.Even if you are a customer of the bank, you are still welcome to apply for the student loan with the bank.If you are dissatisfied, however, you have options.To learn more about these options, keep reading below or click the button to the left to compare private student loans from multiple lenders If you have student loans from Bank of America, whether they are federal or private, and are able to meet the eligibility requirements, most of which depend on your credit history, you most likely will be able to refinance them.

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Let’s look at an example of getting a federal consolidation loan— FEDERAL CONSOLIDATION LOAN GOV you can also get a private consolidation loan PRIVATE CONSOLIDATION LOAN BANK if you have private loans, but we’ll get to that in a minute.