Private Student Loan Process

Learn about the steps for getting a SunTrust student loan.

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.

  • Prior to getting a private student loan, SunTrust recommends you explore scholarships, grants and federal aid.
  • Review your credit report
    Credit Report A document provided by a Credit Reporting Agency that shows a person’s, history of making payments on credit accounts, balances, employment information and more.
    to ensure you have a strong credit profile – if not, line up a cosigner like a parent.
  • To apply for a SunTrust private student loan, you must be enrolled at an approved school > 
    Learn what to know before you apply >

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.

  • How to add a cosigner: In the online application, a cosigner can start the application OR a student can invite a cosigner to apply.
  • Releasing a cosigner1: After 36 consecutive on-time payments, you can apply to have your cosigner released from the loan. Learn more about cosigners >


Know the loan options you want. Consider the:
  • Loan amount.
  • Length of the loan term – which will affect your monthly payment and overall interest.
  • Fixed or variable interest rate – which do you want?
  • If you’re not sure, the loan application has a built-in feature that can help. Learn about planning for a private student loan >



Find out what you need to apply for a SunTrust private student loan. View an application checklist and documents about topics such as income and residency that may be requested for some applicants. Learn more about how to apply >

When repaying your loan, there are some things you should do:
  • Keep in touch with the loan servicer when you need to update any contact information.
  • Stay current and avoid default by working with the loan servicer. 
  • Take advantage of tax benefits for college expenses. Learn about student loan repayment >


Haven’t selected a loan to apply for?

How much do you need for school? Enter your tuition, expenses and financial aid and find out.


Calculate Your Loan

How does $500 for school expenses sound? For the thirteenth consecutive year, we're offering our Off to College Scholarship Sweepstakes.


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Important Information

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 and has met credit criteria, and the first 36 consecutive monthly principal and interest payments have been made on‐time (received by the servicer within 10 calendar days after the due date). Alternatively, if no late payments have been made, the cosigner release request can be made prior to the end of the first 36 months of scheduled principal and interest payments if you have prepaid part of your loan and the aggregate amount that you have paid equals the amount that would be due over the first 36 months of scheduled principal and interest payments, based on the monthly payment amount in effect when you make your payment(s). Cosigner release may not be available if a loan is in a forbearance status.

It only takes 15 min. to apply!

Apply for a new SunTrust private student loan now and get a quick decision.

The SunTrust Student Loan Process at a Glance

1. Application

Estimated Time: 15 minutes

Complete a quick, online credit application and get an instant credit decision.

2. Documentation

Submit required document(s) online, by fax or by mail.

3. Review & Signing

Sign the loan packet online, by fax or by mail (includes the Credit Agreement and other documents).

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

Applicants 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.

Loans Resource Center

  • Contact

  • Wires

      For more details about Wire Transfers with SunTrust, call 800.947.3786.


      SunTrust incoming wire instructions:

      • For domestic incoming wires, use Routing ABA: 061000104
      • For international incoming wires, use SWIFT/BIC: SNTRUS3A
      • Beneficiary account number: SunTrust full account number
      • Beneficiary name: The name as it appears on the SunTrust account

      SunTrust incoming wire instructions are also available by calling 800.947.3786 - option 1

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