Filling the Gap: Loans
Sometimes a disciplined investor - who starts early - will manage to save every penny they need for their child's education. And sometimes your child will earn a full scholarship to the school of their choice. But if you're like most people, you'll face a gap - the difference between what you've saved to pay for tuition and expenses, and the full amount you really need.
While most families find that they need to borrow to close that gap, the good news is that there are more - and better - ways to borrow for education than ever before. And not all loans are based strictly on income.
The PNC Advantage
As one of the nation's "Top 10" providers of educational loans, PNC can help guide you through the maze of available borrowing options. We have the experience and the knowledge to help you with virtually every aspect of educational loan planning. Our educational lending group can secure some of the best rates and repayment options in the business. We can guide you step-by-step through the process of selecting the right loan, finding the right rate and completing the right forms.
And we can offer you other loan options to pay for education, such as home equity loans or lines of credit.
There are a wide variety of loan programs designed specifically to help you or your child borrow for higher education - many with special interest rates, flexible repayment terms, and features such as repayment that begins after graduation. The types of loans vary depending on your child's enrollment status or the educational institution.
Below are the loans available to students:
For more information on the loan application process, or to explore these options further, give us a call at (877) CALL-PNC or visit our Education Loan Center today.
Home Equity Loans
If you're a homeowner, borrowing against the equity you've built in your home can be an attractive way to finance an education.1 You can use a home equity loan to finance any type of educational expense - room, board, books, travel, tuition, you name it. Our home equity loans are also a solution for preschool, college prep school, technical or trade school. And a home equity loan may even offer tax advantages.2 Learn more about home equity loans and lines of credit.
1. Subject to credit approval.
2. Consult your tax advisor.