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Citiassist Student Loan – Information and Loan Details

August 27, 2011

Citiassist Student Loan

College isnt exactly cheap, we don’t have to tell you twice, but maybe a Citiassist student loan can help you. If you are looking for a more information on a Citiassist student loan because you are looking for money to go to college with, we’ve got your back as we will bring you all the detials you need to make your descision without having to browse all around the web. Below will be a main overview as well as some of the advantages and disadvantages of taking out a Citiassist student loan.

Citiassist Student Loan

Citiassist Student Loan – Overview

First off the Citiassist Student loan is offered through the bank called Citibank. They are considered a private lender being that they have no affiliation with any government programs, and are offered as a way to bridge the gap between the the money you need if your other loan programs fell short when it comes to the toal amount you need to complete college. We will first talk about some of the benefits or the Citiassist student loan, then after will be some of the negative aspects of taking out a loan through them.

CITI ASSIST STUDENT LOAN – Benefits

  1. Having a Citiassist student loan doesn’t require you to make monthly payments on your loan during the time that you are in school, and offer you the choice to either pay your interest payments or not during the time you are enrolled
  2. You get 0.25 percent off your loan total if you enroll in the Citibank auto debit payment program
  3. Often times the interest that you pay on your Citiassist student loan is considered to be tax decutable.
  4. You will have access to a personal online account where you can view the status of a pending application, and any other payment or loan history and details.
  5. They work together with the college you are attending to make sure you are getting just the right amount of money that you need to complete school and not more so you don’t have more money to pay off at the end of the process.
  6. They offer the opportunity to release the contract from your cosigners name and put it in your name which will enable you to build a good credit score.

CITIASSIST STUDENT LOAN – DISADVANTAGES

  1. The Citiassist student loan is what is called a tiered pricing loan where the fee as well as the margin over intersest rate is all determined by the credit score of your cosigner.
  2. Most undergraduate students need to have a cosigner to be able to qualify.
  3. The interest rates are subject to change, usually every 3 months.
  4. The fees for service are anywhere from 0% to 3% depending on your credit score or that of your cosigner.

Citiassist Student Loan – Is it worth it?

To be straight with you, I was a Citibank card holder for over 4 years and took out a loan for my first car through them. They provided excellent customer service, no matter who I was dealing with, or what I was inquiring about, customer service that you don’t often see at a large chains like they are. Due to this and the above benefits, all in all the Citiassist student loan is a a little above average, with some incentives that you don’t see on other programs, but require that you have a good cosigner to get the maximum benefits. If you are able to get this piece of the puzzle, then the Citiassist student loan can be a great way to bridge the gap between the money left you need to complete your college degree.