Bank of American has approved the development of a new bank account and financial services platform, but it may have other requirements to make it a viable option for students.
The company is offering a $1,000 loan to anyone who signs up for the platform, called Bank of Education.
It will be available in a couple of months, and the money will be repaid over time.
The loan will be paid off over 30 years and will allow a student to save money on a college education.
Students can also use the loan for other expenses.
Bank of Educates website says the loan will help students who want to work toward a college degree but don’t have a degree in finance or real estate.
But that’s not how the bank plans to make the loan work for everyone.
It wants to be selective about the loan applicants.
Students who have no previous experience working with financial institutions, for example, will be excluded from the program.
Students that have been to a financial institution twice or more are not eligible for the program, and applicants with no previous financial experience who have not completed an introductory banking education will not be eligible for loan.
But the program will be open to students who have completed a pre-bank account or have completed the bank account program, according to the website.
“The bank wants to ensure that it is giving students access to their bank accounts as well as their financial lives and that they have the ability to make their own decisions and decisions that are good for them,” said the bank’s president, John Fudenberg.
“We want to make sure that this platform is tailored to the needs of each student and is geared to their interests.”
The bank says that all students enrolled in the bank will be able to earn a minimum of $1.15 an hour in the first three years.
But it also says that students who do not complete a prebank account program will not qualify for the loan.
Fudenburg said that some students may have to repay more in the future because the bank is offering loans to people who have recently transferred from other banks.
Students are able to pay for school through a savings account, which can be held by the student for a limited period of time.
Banks are also offering a preaccounting service that allows students to transfer their funds from other bank accounts to their own account.
For students who don’t want to be forced to pay interest, the bank has a prepayment service that includes the option to pay off the loan in full.
Students may also choose to pay a minimum balance of $5,000 each year in monthly installment loans.
For more information on Bank of Ameritrade, go to www.bankameritrade.com.
The Associated Press