Students: School Loans & College Planning

Books? A computer? To get your school essentials, you’ll need money to pay for them.

Going to college is an exciting time. Head into this new chapter of life with confidence, knowing you have enough money to pay for all of your educational expenses. If you’ve explored funding like scholarships and federal student loans, but still need money, a SunTrust private student loan might be able to help. We provide school loans for undergraduate and graduate students who are attending college half time or more in a degree seeking program at an approved school.

Before you apply for a student loan, talk with your parents, high school advisors and the financial aid officers of the school you wish to attend and make sure you’ve considered the following:

Frequently Asked Questions

Which is the best option, a federal or private student loan, or a combination of the two?

Both types of loans may offer certain advantages. For example, a private student loan may allow you to borrow more than is available through the federal government – while a federal student loan may offer more flexible repayment options, such as income-driven repayment (IDR) plans. It’s always wise to carefully compare your options. View a brief comparison of federal and private student loans >.

Do you have a plan to repay the school loan when it’s time?

  • Consider what you would do if you couldn’t find a job immediately after getting out of school. Do you have a plan to repay the loan while you are looking for work? What if you plan go to graduate school after you get your bachelor’s degree? Can you afford to repay your loan at the same time you are going to graduate school? In some cases, you may be able to defer payments while in grad school, in other cases you may not. You should know the answer to that question before taking out a loan.
  • If you are going into debt in order to go to school, consider whether the degree you are seeking has a good opportunity for employment in a job that can enable you to repay your loan after you graduate.
  • Understand the payments for your loan to help you get a plan together to repay the loan.

If you have limited credit history, do you have a student loan cosigner lined up?

Many students have not built up the credit history to qualify for a private student loan on their own. Will a parent or other creditworthy person be able to be a cosigner on the loan?

Thinking carefully about your goals and plans – before, during and after leaving school – can help you make smart borrowing choices.

High School and Undergrads

Do your homework! You want to focus on getting your college degree without having to stress about how to pay for it. Get the facts about student loans and other financing options, so you’ll be able to make important borrowing decisions fully informed and with confidence.

Graduate Students

Have you always wanted to be a doctor or lawyer – or maybe you’d like to get an MBA to help you climb the corporate ladder? Whatever your professional goals are, a graduate education can be the gateway to success – but first you’re going to need to find a way to pay for it. Learn about funding options for grad students, including the SunTrust Graduate Business Loan. Consider it a smart investment in your future.

Plan for a Degree

Do you have a particular degree in mind? Here is some information to help you plan and pay for your education:

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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.

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