Keybank Student Loans
Keybank student loans have an education financing services called BorrowSmart. Their products that have lowest-cost student loans are consists of federal student loans, private student loans, and consolidation student loans.
The types of federal loans are Federal Stafford Loans and PLUS loans (including Federal Parent PLUS loans and Graduate/Professional PLUS loans). Federal Stafford loans offered 0.25% interest rate reduction for automatic checking account payments. The interest rates are about 5.60%-6.80% with 10 years repayment term begins 6 months after graduate. An easy and fast online application process, e-billing, and online bill pay are also available. Federal PLUS loans are intended for students that pursue at least half-time. PLUS loans have 8.50% fixed interest rate, 3.0% origination fee, 1.0% federal default fee, and 10 year standard repayment term. They also have a quick credit decision after online apply and no prepayment penalty.
Private Keybank student loans have various types of loans, such as: Continuing Education Loans for students from a professional or technical program, Key Alternative Loan for MBA students, Dental Assistance Loans for dental students, The Achiever Loan such as ParentAchiever Loan and Parent Achiever Loan Direct (also including MedAchiever loans for medical students and LawAchiever loans for law students), and The Key Career Loan. Private loans added some fund beside federal loans. Their also have a relief repayment, no fees for processing, each semester directly sent to borrower school from $500 to $125,000, and until 6 months after graduation, there is no payment.
Consolidation student loans offer borrower the federal consolidation loans and easy private consolidation student loans, without any additional fees or credit checks, and low monthly payment.
Keybank is a branch of Keycorp, a corporation that provides the payment services and retail industry. Keybank for about 50 years had been serving schools and families in educational payment plan. In current economic crisis, Keybank through Key Education Resources (KER), decided to exit FFELP (Federal Family Education Loan Program) and education lending as critical for educational institutions. The next enhanced solutions of Keybank student loans will announce as soon as possible. The reason is they will integrate on payment and cash management solutions.
