Bank of America has been a provider of federally back student loans and student loan consolidation for more that 20 years. However in 2009 it suspended its loan program. Bank of American has issued the following statement.
"Bank of America has suspended the origination of federal student loans. We are no longer accepting applications for Stafford, PLUS, or Graduate PLUS loans. If you have questions about obtaining a new student loan, please contact your school's financial aid office."
We contacted Bank of America to ascertain when they might reenstate their loan program and were told that there are no plans for restarting the student loan program. Never the less they do provide student loan consolidation advice and assistance.
They indicated that the current down turn in the economy and resulting financial crisis was the primary reason for suspending this valuable program. If you already have a federal loan you can qualify for a student loan consolidation with the Direct Student Loan Consolidation Program.