If you’re like most students and parents, you’ve probably had your fill of completing college-related applications. Don’t worry. The process for getting a SunTrust private student loan is completely online and you can apply in as little as 15 minutes.
Consider a cosigner - a cosigner is an additional applicant, or co-applicant, besides the student, such as a parent. Many students don’t have a substantial credit history to be approved.
Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. View and compare the available features of SunTrust private student loans.
Union Federal is a federally registered trademark of Cognition Financial Corporation used by SunTrust Bank under license. The Union Federal Private Student Loan is funded by SunTrust Bank and is not offered in connection with any other lender or the federal government. Cognition Financial Corporation is not an affiliate of SunTrust Bank.
Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue these programs without notice. These loan programs are subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.
A cosigner may be released from the loan upon request to the servicer, provided that the student borrower is a U.S. citizen or permanent resident alien, has met credit criteria, and met either one of the following payment conditions: (a) the first 36 consecutive monthly principal and interest payments have been made on-time (received by the servicer within 10 calendar days after their due date) or (b) the loan has not had any late payments and has been prepaid prior to the end of the first 36 months of scheduled principal and interest payments in an amount equal to the first 36 months of scheduled principal and interest payments (based on the monthly payment amount in effect when you make the most recent payment). As an example, if you have made 30 months of consecutive on-time payments, and then, based on the monthly payment amount in effect on the due date of your 31st consecutive monthly payment, you pay a lump sum equal to 6 months of payments, you will have satisfied the payment condition. Cosigner release may not be available if a loan is in forbearance.
Estimated Time: 15 minutes
Complete a quick, online credit application and get an instant credit decision.
Submit required document(s) online, by fax or by mail.
3. Review & Signing
Submit the signed loan packet (includes the Credit Agreement and other documents) online, by fax or by mail.
4. School Certification
The school will certify (to SunTrust) the loan amount, enrollment at the school (half-time or more) and dates when SunTrust should transfer the loan funds to the school.
5. Final Review & Release of Loan Funds
Review the final loan disclosure and have 3 days to cancel. If an applicant does not cancel, the loan funds will be sent to the school.
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For more details about Wire Transfers with SunTrust, call 800.947.3786.
SunTrust incoming wire instructions:
SunTrust incoming wire instructions are also available by calling 800.947.3786 - option 1
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