Web Application Chapter 11 page 445

The Colbert family has used Bank of America for many of their personal loans and would like to continue doing so for their son's college tuition loans. The Colberts are familiar with the government Stafford loans, but still decided to check what was available through Bank America. Searching www.bankamerica.com/studentunion/stud_loanov.html, they found that Bank of America offers GATE loans.

1. What does GATE stand for?

2. When does payment begin for this type of loan?

3. Up to how many years does the borrower have to repay this loan?

Answer the questions in complete sentences using information from Web site. Include the date of the information in your answer.

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