The government may be scrapping its incentives program that rewarded graduate students with a reduced interest when they paid their monthly loan on time, but some students may still be able to save money with good behavior.
In fact, good grades will now earn you a better interest rate at U.S. Bank. There are, in fact, two new incentives programs available. One is called the U.S. Bank Graduation Perk and the other, the Good Grades Perk. Both offer discounts and encourage student borrowers to finish their degrees, and if they graduate with a cumulative grade point average (GPA) of 3.30 or higher, they may be eligible to receive a discount of up to 3% percent from their original loan.
Here are 2 other popular ways companies reward students for good grades.
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Car Insurance Agencies
Stats have shown that students with high marks are less risky drivers and insurance companies tend to offer reduced rates to teen and college-aged students with good grades. For example, at AllState, single full-time students under 25 can save up to 20% for good grades.
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Credit Card Companies
It’s worth searching the Credit.com database for some student-specific credit cards that may just offer some perks for good classroom marks. I found Citi’s mtvU Card, which is a student-centric rewards credit card, gives cardholders extra points for good grades. Here’s the breakdown from their web site of the extra points you can earn:
At publishing time, Citi’s mtvU Card is offered on Credit.com product pages and Credit.com may be compensated if our users apply for and ultimately sign up for the card. However, this relationship does not result in any preferential editorial treatment.
Images: Nurse_Carla, via Flickr.com