Educational Loan

The most important thing you can give your child, or yourself, is the gift of education. Having a higher education degree can help shape your future, give you options, help you get that home of your dreams, and provide for your family for years to come.

At GMAC we know the importance of education. We also know the importance of financing options for education because of the high cost of secondary education these days. Whether you choose a community college or four-year university, apply to medical school or go into law, having the financing you need to pay for school can make all the difference.

Many schools offer financial aid in the form of loans and grants, and the government does too. Even so, this is sometimes still not enough. That is where GMAC comes in.
One way we can help finance your education is by offering your equity options on your home. By cashing in on your credit, you can put it directly toward your tuition. This benefits both you and the student because the equity interest can be deducted from your taxes at the end of the year. It’s a win-win situation. Refinancing is also an option.

But if you don’t own a home, you can still turn to GMAC for assistance. GMAC Bank offers a variety of educational loans, ranging in amount, to help finance your educational needs such as room and board, class supplies including books, and of course tuition.

Our Continuing Education loan is for those who are not full-time students but are taking classes half of the time. Or even less. The Undergraduate Loan is for the traditional student attending college on a full- or part-time basis towards the goal of receiving their degree.

Finally, GMAC offers the Graduate Loan for students who are pursuing secondary education either in graduate school, law school, medical school or any other higher education program. GMAC knows the importance of education and we do our best to help you finance it.