EducationOne Private Student Loan
Bank One student loans are actually just another term used to describe Education One loans distributed by Chase. The Education One program is extremely beneficial for students that find themselves with a gap between their tuition bill and the financial aid they’ve already received. These loans are private, meaning that they are not federally funded or guaranteed; however, they do share some similarities with federal student loans, especially when it comes to the repayment terms.
Features of working with this financial instutution
If you decide that you will need a private loan in order to fully afford college, then you should look into Education One loans by Chase. They offer several different types of loans for all types of students. In fact, undergraduate students, graduate students, trade school students and technical school students are all served by Education One loans.
What makes these private loans especially beneficial, however, is the fact that the funds are sent directly to you and not to the school. This makes it so you can use the loan money for all education related expenses, including books, dorm fees, food, car payments and more. You are not restricted to just using the money for tuition.
You can also wait until after graduation to start repaying the loan. This makes it easier to get through college, get established in a job following graduation and actually afford making your loan payments.
Another great aspect of Bank One loans is that you do not need school certification in order to receive funds. Rather, the amount you receive is based on your credit history and your perceived need for your education costs. If you do not have very much credit or no credit at all, you can have a parent or guardian cosign with you. This will lower your interest rate and make your repayment options easier.
You do have the option to defer all loan payments until after you graduate, as stated before, however, you will be responsible for all of the interest that builds on your loan amount while you’re in school. You can choose to begin to repay your loan immediately or you can just pay the interest on the loan. Or, you can defer both the interest and the principal until up to six months after you graduate. Regardless of what option you choose, a Bank One student loan can be customized to suit your specific needs.