"Researching the costs of college and how to pay for it can be a confusing process," said Bob Moore, president of Bank One Education Finance, based in Indianapolis. "Education0ne.com provides an online resource to families and financial aid professionals that is convenient, fast and useful."
Content on "EducationOne.com" is customized to provide relevant tools and information for parents, students in high school, college or graduate school, and financial aid professionals.
For students and families, the site includes information about:
* The value of higher education,
* Costs o f college,
* Myths about education financing,
* Sources of money and types of loans available,
* How to get a loan,
* Bank One products and services, and
* How students can manage money (including checking accounts, ATMs and credit cards).
Financial aid professionals can learn about products and services Bank One offers to schools, online entrance counseling (required for all Title IV loans), a Bank One Education Finance staff directory, request forms for Bank One Education Finance materials, and national and regional professional conference schedules.
The site's unique features include:
* Online application for "Education One(SM)," Bank One's private loan series for K-12, undergraduate, graduate, consolidation and computer financing. A customer can receive a preapproval for the loan online within five minutes, subject to verification of a completed application.
* Information for students and parents about how to talk about money for college, including addressing the false assumpti ons often made and facts to consider.
* Entrance Counseling for Federal Student Loans. This site meets the requirements for Title IV loans (Federal Stafford loans, Perkins loans) that students undergo debt management counseling to understand the rights and responsibilities of borrowing.
* Tools, including repayment, "Expected Family Contribution," savings, and budget calculators, as well as a glossary of financial terms.
Bank One Education Finance, based in Indianapolis, is a unit of the Finance One Group, the consumer finance, mortgage, and indirect auto lending subsidiary of BANK ONE CORPORATION. BANK ONE is a leading provider of education finance through government loans, private loans, home equity loans, savings, and Corporate giving to education-related programs. Headquartered in Chicago, BANK ONE is the nation's 5th largest bank holding company, with assets of more than $235 billion. BANK ONE is a major corporate bank nationally and in selected international markets, the nation's largest cre dit card lender, the leading retail bank in eight states, the leading business bank in the Midwest and Arizona, and the third-largest bank mutual fund company.
