New Student Loans
Flexible student loan options with personalized support.
KeyBank helps students make their education goals a reality with flexible student loan funding solutions. From federal funding to private student loan options, our student loan specialists offer personalized guidance for parents and students to help create a plan that meets your student loan needs.
The Key Student Loan Consultation unlocks private student loan options from multiple lenders. Or, if you prefer to explore loan options on your own, our student loan partnership with Sallie Mae® could help.1
Get expert guidance every step of the way.
Get one-on-one support to create a college funding plan that works for you and your family. Our student loan specialists will help you understand your options — federal subsidized and unsubsidized loans, Parent PLUS, and private loans — and develop a clear path to financing your educational goals.
- Personalized college funding plan tailored to your needs
- Support to understand the financial aid process
- Side-by-side comparisons of federal and private loan options
- Access to competitive rates from multiple private lenders
After your consultation, you will receive a comprehensive report outlining your total education costs, available funding options, and a clear plan to cover any gaps.
Explore student loans for all types of students
Make your career dreams a reality with private student loan options for different career types and stages through our partnership with Sallie Mae. Whether you’re an undergraduate, a graduate student, or in career training, these flexible student loans are designed to meet your needs.
- Competitive variable and fixed interest rates
- No origination fee or prepayment penalty1
- Multiple repayment options
Frequently Asked Questions About New Student Loans
Once the college and program are determined by the student, the first step is to see what the total cost of attendance will be and if the student is eligible for any financial aid. Comparing the overall cost for the college program, any financial aid, or any personal college funding, the student will have to help cover the cost. The remaining cost to cover the college program will be either out of pocket, federal student loans, private student loans, or a combination of all three.
Federal student loans are issued by the government once the Free Application for Federal Student Aid (FAFSA) is submitted and processed. Federal student loans have fixed interest rates that the government decides on an annual basis, various repayment options, various postponement of payments options, and forgiveness and discharge options. Federal student loans have origination fees and limitations on borrowing limits.
Private student loans are not associated with the government and instead are associated with a bank or private company. There is typically a higher borrowing limit with private student loans compared to federal, where the student could obtain private student loans for almost their entire educational journey. Private student loans require a credit check when acquiring a student loan, and interest rates can be fixed or variable with different repayment term options. The loan could be disbursed faster compared to federal loans. Private student loans may require a cosigner to help the student obtain private student loans.
While in some instances private loans may provide more competitive rates and flexible terms and repayment options, borrowers will not have access to the repayment or forgiveness programs that may be available for federal student loans. For more information about federal student loan options, visit studentaid.gov.
Private student loans cannot be consolidated or refinanced into federal student loans, whereas federal loans can be refinanced into a private student loan. Private student loans can be refinanced into a new private student loan, which is subject to eligibility guidelines that are determined by the lender. The lender will decide whether the student will have options for postponing their payments or the ability to lower their monthly payment.
Students and parents should review all options prior to taking out private or federal student loans.
Students who are just starting out and do not have a long credit history or a consistent income yet may need a cosigner due to their credit profile not meeting the minimum requirements for the lender. Students who are continuing their higher education and have a long credit history and established income might not need a cosigner.
A cosigner is reviewed on a case-by-case basis for the student when determining their eligibility for private student loans.
Get started with a free student loan consultation.
All credit products are subject to credit approval.
Sallie Mae® Student Loan Disclosures
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
These loans are made by Sallie Mae Bank. KeyBank is not the creditor for these loans and is compensated by Sallie Mae for the referral of loan customers.
Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply. Click here for additional eligibility information about each product.
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Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
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