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HSBC Student Loans
HSBC Bank helps graduate students from the UK pay for advanced education. Current, active customers of the bank are eligible to apply for educational financing, provided the following conditions are met:
- 18 years old at the time of application
- Account holder at HSBC – savings, checking or other account
- UK resident status
- Must be within 5 years of graduating from an accredited degree program
Loans worth between 5000-25,000 are made available to qualified students, with competitive interest rates around 5.9%* Additional benefits associated with HSBC Graduate Loans include:
- No penalty for early payments, so borrowers are free to pay-ahead, as a means to reduce outstanding student debt faster.
- Fixed repayment terms do not change during the life of a loan.
- Quick turnaround, from application to loan disbursal.
- Repayment options designed to keep borrowers current.
- Repayment holidays, which allow borrowers to place payments on hold, during certain periods.
- Ability to add to existing loans, once they have been established.
*This representative rate may not be the exact rate received by all student-borrowers.
*Important notice: Due to changes in the student lending industry, HSBC Bank promotes only Graduate Loans for UK students. The following entry is maintained as a historical record, reflecting programs previously offered by the lender.
HSBC Bank USA manages the global accounts of over 3 million customers. This leading commercial and retail financial institution provides global investment, wealth management, personal financial management, and commercial services for a global clientele. With headquarters in New York City, HSBC has access to global markets.
Student Tools and Resources
HSBC student-borrowers enjoy access to the bank’s “College Planning Center.” Through this online resource, students utilize college financial planning tools such as student loan calculators, loan comparison charts and scholarship searches appropriate for students and parents.
Student Loans Products
Apply for Federal Stafford Loans, subsidized or unsubsidized, through HSBC. Stafford loans are one of the the first options explored by student-borrowers, because they come with the lowest interest rates possible. Students applying for subsidized Stafford Loans must prove financial need, while unsubsidized Stafford Loans are made available to students, regardless of economic stature. Borrowers can also complete their loan promissory notes through HSBC.
HSBC offers a number of attractive incentives and discounts for federal borrowers, including these perks: Reduction in interest on federal loans for those who sign up for automatic checking account deductions, and discounted principal payments for the use of e-billing methods, versus paper bills.
Parental PLUS Loans and Graduate/Professional PLUS loans each come bundled with similar discounts, plus fixed interest rates. HSBC stays on-pace with the most attractive, up-to-the-minute interest rates. Borrowers who have concerns about being approved for these credit-based loans may apply for pre-approval.
Private, alternative loans taken with HSBC are credit-based, but offer student loan solutions for degree pursuits at all levels of education:
- HSBC Undergraduate Loans are available to students enrolled at least half-time. They can be also be used for online degree programs and are available for international students, as well. Undergraduate Loans feature low interest rates and an easy, fast application process.
- HSBC Graduate Loan allows graduate students to borrow low-interest funds for college. Borrowing limits are up to $25,000 for each school year.
- HSBC Health Professions Loans are available for undergraduates, and graduate students enrolled in professional health education programs. Qualified applicants are attending school at least half-time. Approved candidates are eligible to borrow up to $45,000 each school year.
- HSBC Continuing Education Loans offer low-interest student borrowing options for professionals attending technical or vocational programs, less than half-time, and without degree requirements.
Consolidation and Deferment Products and Services
Having trouble managing repayment of multiple student loans? If your payments are consistently delinquent, or if you are at risk of default, it may be advantageous to explore HSBC’s student loan consolidation options, for federal or privately held student debt. The products allow borrowers, with more than one loan, to group them into a single, renegotiated consolidation loan, requiring a single monthly payment – often with better terms than the original loans they replace.
Some loans also carry deferment options, which deflect payment obligations to future dates, when borrowers are better-equipped to pay. Deferments are sometime approved for:
- Economic hardship – When employment is secure, but cash flow does not allow for student loan payments.
- Education – Borrowers enrolled at least half-time defer repayment until after leaving college.
- Unemployment – For periods of unemployment, when payments cannot be met.
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