Student Loans

At Great Midwest Bank, we believe earning a college degree is one of life's most important goals. It lays the foundation for a lifetime of employment and other successes.

To ensure that the largest number of our customers will be able to pursue higher education, we offer a selection of financing programs that are particularly well-suited to cover the costs involved.

Subsidized and Unsubsidized Stafford Student Loan

Students may receive between $5,500 to $20,500 per year from this special loan program, which features a low fixed interest rate, some as low as 5.60%.  Furthermore, no payments are required while enrolled in school or in deferment.

Plus Loan

Parents may borrow funds annually and take up to 10 years to repay this loan at very reasonable rates.

Home Equity Line of Credit

Many families opt to use the equity in their homes to finance college costs. We provide you with a maximum line of credit, then you make payments only on the amount of money you access. Plus, most people enjoy a 100% tax deduction of loan interest.*

Home Equity Loan

Many colleges offer a discount if you prepay all tuition upfront. The Home Equity Loan provides a lump sum that allows you to accomplish this, or any other method of payment you choose. You may take up to 15 years to repay this loan, which also features tax deduction benefits.*

If you are thinking about college for yourself or your children, talk to a Great Midwest representative about the current rates for these programs. We can also help you set up savings strategies for any future academic endeavors you may be considering.

Call or e-mail one of our Loan Officers for more information.

Check out our Home Equity Rates for current rates on our home equity loans.

* Consult Financial advisor for specific details.