All About Fleet Student Loans

*note that due to mergers and acquisitions happening since this original research, Fleet references here, generally, should now be geared more toward the options offered by Bank of America.

Most major banks have divisions devoted to financial services for students, and Bank of America is no exception. Fleet Bank is a Bank of America company and is devoted to helping you finance your education with both federal and private loans. There are many different options and you have to choose the one that's right for you.

Federal Fleet Bank Student Loans

By choosing Fleet Bank as your guarantor, you will receive all of the benefits associated with your federal loans and the security that comes with the name “Bank of America”. There are many federal loan packages, including the Federal Stafford Loan, which can be subsidized or unsubsidized depending on who is responsible for paying the interest while you're a student. If your parents plan to help you, there's the federal Parent PLUS loan that's designed just for them. If you're pursuing a graduate degree, you may be interested in Fleet Bank's federal Grad PLUS loan designed just for graduate students. Fleet Bank also offers a consolidation loan that may be beneficial to you once you've completed your education and want to make one single monthly payment.

Again, there are numerous options available. Do a little research and find out which one best suits your personal needs.

Private Fleet Bank Student Loans

It's a good idea to use whatever federal funds you qualify for before turning to private loans. However, college is expensive and federal funds may not cover all of your expenses. If that's the case, there are private loans that can help you cover other expenses. Fleet Bank, as a Bank of America company, has a few private loan options, too.

TERI Loans

The Educational Resources Institute, Inc (TERI) loans are private loans for credit-worthy undergraduate, graduate and professional students enrolled at least half-time at approved schools. To be considered credit-worthy, you have to have an acceptable credit history and your employment history and income must meet certain criteria. Undergrads may borrow from $1,000 up to the full cost of their education less financial aid received.

Campus Edge Private Student Loans

Campus Edge loans are new loans for undergraduates needing to supplement federal loans and other financial aid. You can use the Campus Edge loan to cover tuition, housing, food, books and even lab fees. You may be eligible to receive up to $50,000 a year. And, it's easy to apply because it can all be done online.