Many students are worried about to pay their college fee. The students look for the various ways to borrow money. Different banks offer the students loans to the students who are not able to pay for their college. The right bank to apply and get a student loan is the much bigger as well as difficult step.
The students, who want to get a student loan, should choose the bank carefully. Banks offering the low interest rates for student loan are much famous among the students. The students mostly search for the banks offering the student loans at low interest rates.
Banks Offering Student Loan at Low Interest Rates
In order to help the students, we have listed the few banks offering the student loan at low interest rates. The students can compare their interest rates and other features to determine that which bank is suitable for them. So, the description of the each bank offering student loan at low interest rate is given below:
Citizens Bank is offering the student loan at extremely low interest rates. That`s why it is on the top of the list. The interest rates offered by the Citizens Bank are ranging from 2.10% to 7.99%. These interest rates are much lower as compared to the rates offered by other banks. The minimum amount that the students can borrow is $10,000. There is the no application fee, organization fee as well as disbursement fee. There are the various repayment term options for the students. The students can choose the repayment term of their own choice. The repayment terms are of 5, 10, 15 and 20 year.
Earnest is also offering the student loan with many features. There is no prepayment penalty, application fee and organization fee. It is also offering the low interest rate for student loan. To apply for Earnest, it is necessary that the borrower should be the citizen of the US. The interest rates offered by Earnest are about 22.2% to 7.45%.
Wells Fargo is also the famous student loan lender. The borrowers can borrow up to the $75,000 through Wells Fargo. The interest rates offered by Wells Fargo are not fixed. It depends upon credit history and the financial situation of the borrower. The interest rates are from 6.39% to 10.92%.
SoFi is the one of the best company offering the student loan. There are no prepayment penalties as well as organization fee. SoFi is offering the low interest rate for the student loan. The interest rates are from 2.22% up to the 7.74%. It is also offering the employment protection to its customers. If any borrower loses his job during the loan term, then the loan payment will be paused and SoFi will help to find the new job. The students can borrow money up to $35,000. The undergraduate students and graduate students both can apply for the student loan. They can get the student loan for 5, 7, 10, 15 or 20 years.