When it comes time to plan for college, most students must rely on a variety of financial aid scenarios. Grants and scholarships are always the preferred method of funding a college education, but even these can only go so far. Federal loans can help bridge some of the funding gap, but with tuition rising, many students are forced to consider private loans.
Citibank, with its 200 years of experience, can act as the main lender for all your education loan needs. As a private lending institution, it offers student loans with very attractive interest rates and repayment plans that are perfect for students struggling to finance their college education. Citibank can also manage all of your federal education loans, making it easier to manage your college finances.
Federal student loans through Citibank
Before considering a private lender, students should first exhaust all options for federal education loans. Citibank administers all federal Family Education Loan programs and can help students secure and manage their federal loan packages.
Citibank administers the following federal education loans:
- The Federal Direct Stafford Loan
- The Federal Direct PLUS Loan for Parents
- The Federal Direct PLUS Loan for Graduate and Professional Degree Students
- The Federal Direct Consolidation Loans
Private Citibank Student Loans
When federal loans aren't enough to fill the gaps in your college funding, private lenders are the obvious answer. Citibank has long offered competitive loan programs for students seeking to finance their college education. The CitiAssist loan is Citibank's main education loan program and is available in a variety of formats depending on the student's status and educational background.
Citibank offers five different CitiAssist student loan packages designed to meet the needs of students with different financial challenges.
- The CitiAssist Undergraduate Student Loan – students can borrow up to the total cost of their undergraduate degree minus any financial aid previously received. The loan offers low interest rates and the option of deferred payment. Interest on the loan is often tax deductible.
- The CitiAssist Graduate Loan – Citibank's graduate loan program offers competitive interest rates and deferred repayment, making it perfect for students pursuing a professional degree.
- The CitiAssist Law Student Loan – Designed specifically for students pursuing a law degree, this loan offers flexible repayment schedules, low interest rates and possible tax deductions.
- The CitiAssist Bar Exam Loan – This loan is specifically for law students in their third or final year of law school. Students can receive up to 15.Borrow $000 to cover exam fees and living expenses while studying for the bar exam.
- The CitiAssist Health Professions Loan – students can borrow up to the full cost of their tuition minus any financial aid previously received. The Health Profession Loan offers low interest rates, deferred repayment plans and possible tax deductions.
- The CitiAssist loan for residency, relocation and exam – Health professionals who are in the final years of their studies can apply for up to 18.Borrow $ 000 to cover the cost of exam courses, job interviews, and moving expenses.
Since most students are at the beginning of their lives, they may need a cosigner to be eligible for Citibank's student loan programs. Citibank offers a number of cosigner options for students and parents applying for college loans. These cosigner options allow students with low or no credit scores to qualify for a CitiAssist loan and build a solid credit history while still in college.
Advantages of the CitiAssist Loan
Citibank's CitiAssist loan program offers many distinct advantages to its student borrowers. As a complement to other forms of student financial aid, Citibank's loan programs can help students achieve their goal of a college education.
Citibank's CitiAssist student loans offer all of the following benefits:
- Very low interest rates.
- The ability to apply online and often receive an immediate response.
- The ability to borrow up to the full amount of tuition, less any financial aid already received.
- Flexible payment options. Students can defer repayment until after graduation. (Please note that interest will continue to accrue during a deferment)
- No minimum borrowing requirements. Students can borrow as much money as they need.
- With consistent repayments, students can reduce their interest rate by up to 0.75%.
- Possible tax deductibility of accrued interest, subject to state regulations.
Students considering a loan from a private lender can rely on Citibank for some of the cheapest education loans on the market. But remember that any loan is a serious and binding agreement between you and your lender that you should not enter into lightly. You are responsible for all accrued interest on your loan, and you are expected to repay it in full and on time. Read all the fine print in your loan agreement, ask questions and only agree to a loan if you agree to the terms and are sure you can meet all repayment obligations.