Fifth Third Bank is a full-service financial institution offering professional services in many states of USA. And the bank also offers a type of featured loan products for student and their parents. It is the student loan. You may still wonder what’s the best solution for you to pay for your education. And there is a smart financial aid package designed for you to solve the problem. So, here is a simple review of the package which is also a good combination of scholarships, grants, private student loans and federal loans.
Federal Stafford Loans
In general, Stafford Loan is the lowest cost loans for students. And you are suggested to apply for federal loans, scholarships and grants at first. The interest rate on Stafford Loans is fixed at 6.8%. At the same time, various repayment options are designed for you to take advantage of money-saving borrower benefit programs in repayment. Plus, if you use automatic debit, there is also a 0.25% interest rate reduction.
Parent PLUS Loan
It is a type of Federal loans designed for parents to pay for their children’s education cost. The low-interest loan is available for parents of dependent or undergraduate students. Its interest rate is fixed at 8.5%. And the origination fee is 3%.
Graduate PLUS Loan
It is another type of federal student loans. And if you have exhausted Stafford Loans, you are suggested to take the affordable Graduate PLUS Loans into your consideration. Its interest rate is usually fixed at 8.5%.
Private Student Loans
Fifth Third offers several options of private student loans such as Undergraduate student loans, Graduate Student loans, Law School Student Loans, Bar Study Loans, Medical Student Loans, Residency loans and Relocation Loans. Fifth Third’s Smart Option Student Loan is well designed with competitive interest rate and flexible terms as a good supplement of federal loans, grants and scholarships. Just Learn more here!
- Site: www.53.com, web.53educationlending.com
- Tel: 800-222-7192