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Charter One Student Loan

About Charter One

Charter One started as a small community bank in 1892, and now serves primarily New England and other states in the Mid-East. They have kept their small community feel by implementing a number of community service initiatives in the neighborhoods they serve (including financial assistance to families looking to adopt, and housing assistance to families without heat).  Charter One tries to keep things flexible for borrowers, by offering a number of repayment options (during or after graduation) and keeping fees low.

Private Loan Name: TruFit Student Loan

Loan for Which Students? Undergraduate and graduate students

Minimum/Maximum per Student: Up to the cost of attendance (less any other aid), no more than $120,000

Loan Rates: (Varies depending on your credit rating) Fixed rate as low as 6.75%. Or, one month LIBOR + 2.7%

Loan Fees: 0-5%

Repayment Terms: Varies

Other Information: The Charter One loan is truly flexible. Not only does it offer three repayment options, but it also gives you the option of releasing your cosigner after you’ve made 36 on-time payments in a row. That’s a great deal that gives you time to get yourself on firm financial ground while releasing your parents (or other cosigner) of some of the responsibility of your loan. Charter One also offers huge incentive to for student loan holders to open a checking or savings account with the bank; doing so, and signing up for automatic debits of your loan payments, can reduce your interest rate by .5%.

How to Apply/Contact: Apply online

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