Student Loans
Turn Your College Dreams Into Reality
Paying for college is a big step, and Peoples Bank is here to help you finance your education with confidence. Whether you’re looking for loans for college students or want to explore student loan refinancing, we provide trusted solutions for financing higher education through our partner, College Ave.
College Ave Benefits
Loans for College Students
Cover tuition, housing, books, and more with flexible funding options
Student Loan Refinancing
Lower your student loan interest, reduce payments, or combine multiple loans into one
Fast, Simple Application
Apply online and receive an instant credit decision with no application fees
Education Financing You Can Trust
Frequently Asked Questions
What are student loans and how do they work?
Student loans are funds you borrow to pay for education expenses, such as tuition, housing, and books. You repay the loan over time with interest. Both federal and private college loans are available depending on your financial needs.
What is student loan refinancing?
Student loan refinancing is the process of taking out a new, private loan in order to pay off one or more existing loans. By doing this, you aim to secure lower interest rates, change your monthly payment, and simplify your finances. You can also combine your loans into one payment, making repayment easier.
Through College Ave, you have the capability to refinance your loan at any time, allowing for flexibility when life changes.
When should I consider taking out a college loan?
You should consider college loans once you have explored other funding options, such as scholarships, grants, and federal aid. Loans are often used to cover remaining expenses not paid by other sources.
Peoples Bank offers private student loans through our partner College Ave to help undergraduate and graduate students finance their education.
What types of loans for college students are available?
There are several types of loans for college students, including:
- Federal Student Loans (government-backed)
- Private Student Loans (from partners like College Ave)
- Parent Loans to help cover education costs
Each option offers different interest rates, repayment plans, and eligibility requirements.
How is student loan interest calculated?
Student loan interest is determined by factors like your credit score, income, loan type and whether you choose a fixed or variable interest rate. Interest accrues over time and affects your monthly payment and total repayment amount.
What is the difference between a student loan and a parent loan?
A parent loan is a loan that a student’s parent or guardian borrows to help cover educational expenses. The loan is entirely in the parent or guardian’s name, and they are taking full responsibility for repaying the loan.
A student loan is when an undergraduate or graduate student loan is cosigned, meaning it is in both the student’s and cosigner’s names. The cosigner is taking equal responsibility with the student, and are providing their financial background to help guarantee that the loan will be paid back.
By continuing to College Ave, you will open a new browser window and leave the Peoples Bank website. Although we’ve carefully reviewed the website prior to creating the link, we unfortunately cannot be responsible for the safety or security of the website. Peoples Bank may receive a referral fee if you click this link and obtain a student loan from College Ave.