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	Student Banking > Student Loans > Private Student Loans

Private Student Loans

As of Monday, March 15, 2010.

U.S. Bank No Fee Education Loan

A loan for students enrolled and making satisfactory academic progress in a bachelor's degree or post-baccalaureate program at an eligible college or university.

Loan features and benefits:

Loans are credit-based. You don't have to demonstrate financial need.
Require no application, administration or reserve fees. You receive the full approved loan amount.
Allow deferment of payments - Students are not required to make payments while in school and for six months after graduation or dropping to less than half-time enrollment.
Allow repayment up to 15 years - makes payments affordable.1

Additional loan information:

Borrow up to a maximum $20,000 per grade level. This amount will be the lesser of what the borrower requests, program limits, or school certified amount.
Minimum loan amount is $1,000.
Aggregate borrowing limit is $50,000 in U.S. Bank private student loans.
Interest rates are based on borrower credit history. Rates are variable over the life of the loan. They are currently:2
- Prime + 1.95%
- Prime + 4.95%
- Prime + 8.95%
.50% interest rate reduction for autopayment.3
With the help of a qualified cosigner, you may receive a better rate.
Cosigner release options are available.

Note: U.S. Bank Student Loan program rules and qualifications are subject to change at any time without notice.

Contact our Student Loan Center or call 800-242-1200.

Loan payment example assume a $10,000 loan at a constant interest rate of 5.20%, assuming 45-month in-school period, a six month grace period (i.e., a 51-month "interim period"), no reserve fee, and 15 years in repayment, would require a monthly payment of $97.82. The interim APR would be 4.81%; the repayment period APR would be 5.05%. This interest rate is effective as of 03/01/2010 through 03/31/2010, and assumes a Prime Rate value of 3.25%. APR may increase or decrease after consummation. Consummation occurs upon disbursement of loan proceeds. The interest rate is variable and can therefore increase and/or decrease over the life of the loan.

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APR may increase or decrease after consummation. Consummation occurs upon disbursement of loan proceeds. The interest rate is variable and can therefore increase and/or decrease over the life of the loan.

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The automatic payment is a requirement to be qualified for the interest rate reduction benefit. If the auto payment feature is canceled, the rate reduction benefit is lost.

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