Student Loans:U.S. Bank Offers Incentives to Student Loan Holders

U.S. Bank Offers Incentives to Student Loan Holders:
Americans owe approximately $826.5 billion in credit card debt and owe a staggering $829.79 billion in student loans. This comes at no surprise when the average four-year degree from a public university or college costs about $50,000 for four years (before living expenses) and a private school can cost over three times that! To pay for this, most students are forced to take out loans. However, these loans can be managed and can actually help improve your credit over time.U.S. Bank recently announced that it will be offering two new incentives to student loan holders to encourage students to graduate.  The U.S. Bank Graduation Perk and the Good Grades Perk will offer discounts on t heir student loans to students who meet the criteria of each program.  Completion of these programs can mean as much as 3% off of their original loan amount financed.The Good Grades Perk will reward students with a one percent principal reduction from their original loan amount if they graduate with a GPA of 3.3 or higher.  The Graduation Perk reward offers students a two percent principal reduction from their original loan amount if they can provide proof of their graduation.  This one time loan forgiveness will allow U.S. Bank student loan customers to reduce the amount of their student loan which will in turn reduce their monthly payments.These new student loan perks can be applied to both U.S. Bank’s fixed rate and no fee student loans.  In addition to these great incentive programs, U.S. Bank also offers other incentives to help reduce the amount owed on a student loan.  Other incentive programs include AutoPay discounts, optional deferred payments, and the option to add a cosigner as a way to lower a loan’s annual percentage rate.
The Graduation and Good Grades Perks are available to anyone who has applied for a U.S. Bank Fixed Rate or U.S. Bank No Fee student loan on or after August 1, 2011.  Students who qualify for either or both of these incentive programs have twelve months to prove their status and redeem their loan discount.  To learn more about these new incentive programs being offered by U.S. Bank, student loan customers are encouraged to visit the bank’s website here: www.usbank.com/student-loans