April 21, 2008

Bank of America announced it will not lend provate loans

Posted in Misc at 12:00 PM by Joe From Boston

Bank of America last week announced that it would stop making private loans for the next school year. If they were your lender, it’s time to look elsewhere for next year.

Don’t forget – private loans should be your LAST option. Look into Scholarships and Grants first – you don’t pay them back!

Next, look for Federal student loans which have better interest rates and more favorable repayment options including hardship deferment and forbearance for those in qualifying fields.


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