Custom Choice Loan®

In-school deferment? Fixed or variable rate? The choice is yours.

The soaring cost of college may make a degree seem out of reach, but the Custom Choice Loan can help pay for college with a loan made just for you. You choose the repayment option, the type of rate (fixed or variable) and the length of the loan. Plus, you get great benefits like: 

  • The option to lower your rate – Lower your interest rate up to 0.50% with automatic loan payments (auto pay1).
  • In-School Refinance Option – Refinance existing private student loans2 into a new Custom Choice Loan.
  • A graduation reward – Get a 1% reduction in your student loan principal when you graduate.3 It's our graduation reward for you.

Or contact us: 866.232.3889

How to Apply

Applying for a SunTrust student loan is easy and can be done in as little as 15 minutes. The student or the cosigner, if applicable, can start the application. When you’re ready, you can apply here.

Application Checklist

Before you apply, please have the following information ready:

  • Personal Information
    Name
    Social Security Number (not required for international students)
    Date of Birth
    Permanent Address
    Email Address
  • School Information
    Name of school - check to see if your school is approved
    Cost of attendance
    Grade level
    Expected graduation date
    Estimated Financial Assistance*
  • Reference - Personal
    Reference Name
    Address
    Phone
  • Employment Information (if applicable)
    Employer Name
    Primary Phone Number
  • Loan Amount
    Loan amount you'll be requesting
    Semester or academic period for which funds will be needed
  • Income Information (if applicable)
    Annual Gross Income (amount of money that is earned before taxes or other deductions are taken out)

* This is the amount of grants, scholarships, work study and federal student loans (Direct Loan, Parent PLUS, Grad PLUS, Perkins, etc.) a family receives to fund a student's education for one academic year

If you’d like more information, please see the detailed loan process.

Or contact us: 866.232.3889

Loan options such as the rate type, loan term and repayment option are important. They can change the monthly payment for the loan and the total of payments. This tool shows the impact each loan option has on loan payments using $10,000 as a sample loan amount. (Don’t know how much to borrow? Try this calculator.)

No data found

Assumptions and important information about the tool above -

  • The calculations above do not reflect the deductions that may be earned for any or all of the following: having loan payments automatically withdrawn from a bank account (auto pay)1 and the principal reduction upon graduation3.
  • For the Interest Only repayment option, interest payments while in school between the first and second disbursement will be different (lower) than the amounts shown above.
  • For the Immediate Repayment option, the Payment Comparison Tool assumes payments will begin one month after the final disbursement and assumes no deferment or grace period. 
  • For all repayment options except Immediate Repayment, the Payment Comparison Tool assumes a deferment period of 45-months upon initial disbursement and a six month grace period before repayment begins. 
  • For all repayment options the Payment Comparison Tool assumes the loan will be disbursed over two transactions, with the first disbursement today and the second disbursement 90 calendar days from today.

Or contact us: 866.232.3889

Frequently Asked Questions about SunTrust Private Student Loans

Frequently Asked Questions

General FAQs

Who do I contact with questions?

SunTrust is here to help throughout the entire process. For more information, or to speak to a Customer Service representative, please call the phone number for the program you're interested in, as listed below:

  • Custom Choice Loan® - 866.232.3889
  • Union Federal® Private Student Loan - 866.513.8445
  • Graduate Business Loan - 866.232.3889

How much can I borrow?9

  • The minimum loan size is $1,001.9
  • The maximum loan amount:
    • Per loan – the maximum loan amount for the upcoming semester/academic period is determined by your school's cost of attendance, minus any federal student loans, scholarships or grants, up to the amounts shown below:
    • $65,000 for the Custom Choice Loan and Union Federal Private Student Loan
    • $95,000 for the Graduate Business School Loan
  • For multiple loans - the maximum loan amounts per year for applicants borrowing more than one SunTrust private loan are as follows:
    • $65,000 for the Custom Choice Loan and Union Federal Private Student Loan
    • $95,000 for the Graduate Business School Loan
  • With the In-School Refinance Option – when refinancing existing private student loans2 into a new loan, the maximum loan amount you can borrow (including the amount for the next semester/academic period plus the outstanding balance of the private student loans2 you want to refinance) is as follows:

If I have other student loans, do they influence the amount I can borrow?9

Yes. The credit review for a SunTrust student loan will take into consideration the aggregate student loan debt (both federal and private) of the student and, if applicable, your cosigner. The aggregate maximum student loan debt allowed is $150,000 for the Custom Choice Loan and the Union Federal Private Student loan and $175,000 for the Graduate Business Loan (includes all student loans and certain unsecured consumer debt). If the current student loan debt exceeds these amounts, for either the student or the cosigner, the application will be declined.

  • When there is no cosigner – We take the student’s aggregate student loan debt into consideration.
  • When there is a cosigner on a loan, we take the student and cosigner’s aggregate student loan debt into consideration. 

What can a SunTrust private student loan be used for?

The loan can be used for Qualified Higher Education Expenses4 - such as tuition, books, fees, transportation, housing, food, a new computer.

Who is eligible to apply?

  • Enrollment:
    • The Custom Choice Loan and Union Federal Private Student Loan are available to bachelor’s, graduate and professional students who are enrolled at least half-time or more in a degree-seeking program at an approved school.
    • The Graduate Business School Loan is available to graduate students enrolled at least half-time in a graduate level business program at an approved school.
    • Applications can be submitted 4 months or less from the start date for the academic period for which the loan is being taken out. So, for example, if the fall semester starts on August 20, you can apply starting in April of the same year.
  • Citizenship:
    • Custom Choice Loan and Graduate Business School Loan: All applicants must be a U.S. citizen or permanent resident with a Social Security Number.
    • Union Federal Private Student Loan: unless the applicant is an international student, all applicants must be a U.S. citizen or permanent resident with a Social Security number. International students must apply with an eligible cosigner who is a U.S. citizen or permanent resident alien.
  • The student must be the legal age of majority5 at the time of application, or at least 17 years of age if applying with a cosigner who meets the age of majority requirements in the cosigner's state of residence.
  • Either the student or the cosigner, if applicable, must have an income source for the Custom Choice Loan or Union Federal Private Student Loan.
  • Applicants cannot be a permanent resident of Iowa or Wisconsin.

What kinds of degrees can I use a private loan for?

  • The Custom Choice Loan and Union Federal Private Student Loan can be used for most college degrees, undergraduate and graduate, from an approved 4-year institution. This includes bachelor’s degrees, master’s degrees, Ph.D.s, as well as medical, dental, veterinary and law degrees. It cannot be used for an associate’s degree.
  • The Graduate Business School Loan can only be used for graduate business degrees like an MBA or a master’s or Ph.D. in a business discipline.

What are the advantages of getting a private student loan over a federal student loan?

A private student loan is not intended to be used instead of a federal student loan; it is intended to fill the gap in educational expenses after a student has already sought other forms of financing (such as federal student loans and scholarships) and the student still needs funds to pay for school.  The main benefit of a private student loan is that it may offer additional funding beyond what you qualify for in federal aid. For more details, please see this comparison of private and Federal student loans.

Is a private student loan a secured loan?

No, this is an unsecured loan available to qualified applicants.

How do I qualify for the rate reductions for auto pay and for the SunTrust customer benefit?

There are three ways to earn a rate reduction with a SunTrust private student loan:

  • Choose to make automatic loan payments (Auto Pay)1 – Get a 0.25% interest rate reduction for automatic loan payment withdrawal.
  • Auto pay from a SunTrust bank account1 – Get an additional 0.25% interest rate reduction if you make automatic payments from a SunTrust bank account.
  • Make on-time payments (Union Federal Private Student Loan only)11 – Get a 0.25% interest rate reduction when you make the first 36 consecutive monthly payments on-time (received within 10 calendar days after the due date).

How does the SunTrust graduation reward work? 

The 1% principal reduction is based on the net disbursed loan amount (the dollar amount sent, or disbursed, to the school), which is the total dollar amount of all disbursements made, excluding the dollar amount of any reductions, cancellations, or returns, as applicable. To receive the reward, the benefit must be requested from the servicer, the student borrower must have earned a bachelor's degree or higher and proof of such graduation (e.g. copy of diploma, final transcript or letter on school letterhead) must be provided to the servicer. This reward is available once during the life of the loan, regardless of whether the student borrower receives more than one degree.

Are there any fees with a SunTrust private student loan?

There are no application or origination fees. There is also no prepayment fee. If you are late making a loan payment, a late fee will apply.

Do I have to make payments while I go to school? 

No. With SunTrust private student loans, borrowers can choose to make or defer payments while enrolled in school at least half-time12. Borrowers who select to defer payments (put them on hold) while in school can do so (a) while enrolled at least half-time at an approved school and (b) during the 6-month grace period after graduation or dropping below half-time status. Good things to know about deferring your loan:

  • The initial deferment period may not exceed 66 months from the first disbursement date.
  • The initial deferment option must be chosen during the application process.
  • Accrued and unpaid interest will be capitalized (added to the unpaid principal loan balance) when repayment of principal and interest begins.
  • There are no pre-payment penalties which means you can choose to pay off the loan early without penalty.

Can my loan cover past due college account balances? 

Yes, the loan may be applied to qualified educational expenses for the prior academic period that are owed to the school. Important: You must apply within a specified timeframe after the academic period for which the past-due bill was incurred:

  • Custom Choice Loan and Graduate Business School Loan: Up to one month after the past-due academic period. (Applications for past due balances will be accepted up to the end of the next month following the academic period for which the applicant was enrolled.)
  • Union Federal Private Student Loan: Up to three months after the past-due academic period.
  • (Applications for past due balances will be accepted up to three (3) months following the academic period for which the applicant was enrolled.)

How quickly can my school get the loan funds?

If you're concerned about timing, you can speed up the process by faxing or uploading all supporting/required documentation as well as choosing to electronically sign documents within the Loan Packet (Credit Agreement, Applicant Self-Certification form, and Approval Disclosure).

If you apply early and documentation is received promptly, your school will likely receive the funds in plenty of time. If you're unsure of the school's loan deadlines, contact the financial aid office or check the school website for a published timeline.

What repayment options are available?7

With a SunTrust private student loan, borrowers can choose to defer or start making some or part of the monthly loan payment while the student is in school. Opting to make payments isn’t necessary but doing so will typically lower the total amount of interest paid over the life of the loan. Here are the four repayment options:

  • In-School Deferment (Full Deferment)12: This option allows you to postpone loan payments while in-school. Both the principal and interest payments are postponed, or deferred, until after school.  In-School Deferment is the most costly repayment option because deferred monthly interest is added to the loan principal during the time you are in school.
  • Immediate Repayment: With this option, regular loan payments of both the principal and the interest begin approximately 30-60 days after SunTrust sends the final disbursement (loan funds) to your school.  This is the least expensive loan repayment option if you can afford to make payments while in school.
  • Interest-Only Repayment: Pay only the accrued monthly interest while in school; principal and interest payments begin six months after graduation or dropping below half-time status.
  • Partial Interest Repayment: Pay partial interest of $25 per monthwhile enrolled in school. Option available for loans of $5,000 or more.

With any option, any interest that is unpaid will accrue and will be capitalized (added to the loan balance) at the time of repayment.

The repayment option you choose can make a big difference in your loan's overall cost — so review your options carefully. It's essential to understand how your rates and payments will be affected by your choices, because once you complete your loan application with those selections, you cannot make any further changes. When you apply, there will be a repayment calculator you can use to see the impact of different repayment options to the loan's overall cost and estimated payment amounts. You can also get an idea now of how a repayment option could affect your overall loan cost.

Why do I need to complete an Applicant Self-Certification Form? 

The federal government mandates certain regulations be followed for private education loans in an effort to provide more transparency to borrowers. The Applicant Self-Certification is one of those mandates. About this form:

  • This form is provided to students during the application process but it can also be obtained from the school’s financial aid office.
  • All private student loan lenders must obtain this form prior to disbursing any private student loan funds.
  • During the application process, you will be asked for your total cost of attendance and estimated financial assistance in order to complete the form. 

What is an Application and Solicitation Disclosure (ASD)? 

Regulations governing private education loans require three disclosure documents be provided to borrowers during the application process: an Application and Solicitation Disclosure (ASD), Approval Disclosure, and Final Disclosure. About this form:

  • This form will be provided during the application process.
  • The ASD displays current interest rate ranges, loan cost examples, federal student loan alternatives, and other general loan information.
  • Completion of an application is not required in order to view an ASD with current interest rates; however, all applicants must acknowledge that they have reviewed this disclosure before continuing the application process. 

What happens if I default on my loan? 

Defaulting on your loan is a serious matter that could have a long-term, adverse effect on your credit score. SunTrust private student loans are usually reported as "late" to consumer credit reporting agencies once they are 60 or more days delinquent.

Bankruptcy usually doesn't cancel your obligation to repay an education loan. If you're about to miss a loan payment, you should contact your servicer immediately to work out a repayment schedule you can meet.

How do I know if my school is an approved school for a SunTrust private student loan? 

Please visit the approved school list, select the school state and then a list of schools in that state will be listed. If the branch of your school is not listed, please choose the main campus.

 

What if my school is not listed as an approved school for a SunTrust private student loan? 

If neither the branch nor main campus is listed, you and other students at your school will be unable to apply for a SunTrust private student loan. In this case, we recommend that you contact the financial aid office at your school for a list of available options.

Does SunTrust offer loans to international students? 

Yes. SunTrust offers loans to international students with an eligible U.S. cosigner through the Union Federal Private Student Loan program. This option is not available with the Custom Choice Loan program.

What documents will I need to provide if I am approved? 

Approved documentation can be found here but not all applicants are required to submit documentation. If documentation is required, it will be requested during the loan application process.

Frequently Asked Questions

Cosigner FAQs

What is a cosigner?

A cosigner is an additional applicant besides the student, such as a parent, guardian, grandparent or other person, who will bear the same legal responsibility as the student.

Why is a cosigner important?

Many students don't have a substantial credit history or have other concerns about being approved for a private student loan, and adding a creditworthy cosigner may help them qualify and also obtain a lower interest rate.

What makes a good cosigner on a loan?

A good cosigner:

  • Has a substantial credit history
  • Does not have any serious negative items on their credit report
  • Meets their credit obligations on time
  • Is not over burdened with debt
  • Has steady employment and/or income sufficient to meet debt obligations

Can a cosigner be released from the loan?

The cosigner can be released from liability after a specific number of consecutive monthly principal and interest payments (either 36 or 48 monthly payments, as set forth in your Credit Agreement) have been made on-time10 (received within 10 calendar days after the due date). The borrower must meet credit criteria on their own at that time. Cosigner release may not be available for loans in a forbearance status. For more details, click here.

What if there is an unfortunate event, such as death or disability, of the student borrower?

In the event of the primary borrower's death or permanent disability, the loan will be forgiven. Proper documentation is required and the cosigner won't be responsible for repayment13.

How is a cosigner added?

Applying as a cosigner takes about 15 minutes. Either the cosigner or the student can start the application — within the online application, there is a feature that allows the cosigner or the student to be invited to the application.

How can a cosigner help me get loan approval?

Applying with a cosigner who has good credit and positive income can help you satisfy credit criteria and may increase your chances of approval and receiving a lower interest rate. More information about applying with a cosigner.

 

Must I have a cosigner to get a SunTrust student loan?

No. A student may apply without a cosigner but the student then must meet the credit requirements to be approved for the loan. Applying with a cosigner who has good credit and positive income can help you satisfy credit criteria and may increase your chances of approval and receiving a lower interest rate.

Or contact us: 866.232.3889

Important Information About These Products

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.

1

“Auto pay” refers to making automatic payments of principal and interest from a bank account. Earn a 0.25% interest rate reduction when you auto pay from any bank account and an extra 0.25% interest rate reduction when you auto pay from a SunTrust Bank checking, savings or money market account. Interest rate reduction(s) will continue until (1) automatic deduction of payments is stopped (including during any deferment or forbearance), (2) three automatic deductions are returned for insufficient funds during the life of the loan, or, (3) if you are making automatic payments from a SunTrust Bank account, you close that account. The 0.25% interest rate reduction when you auto pay from a SunTrust Bank account will be applied after the first automatic payment is successfully deducted from a SunTrust Bank checking, savings or money market account and will be removed for the reasons stated above. In the event the benefit(s) is removed, the loan will accrue interest at the rate stated in your Credit Agreement. This benefit is not available during any time when your principal payments are deferred or when your loan is in forbearance, even if you are making payments.

2

Private student loans that can be refinanced with a new SunTrust private student loan are private student loans and private consolidation loans that the student applicant used for, or used to refinance loans used for, certain postsecondary expenses not currently in a past due status. Loans that cannot be refinanced into this loan are (1) private student loans for which the student applicant is not the primary borrower, (2) Federal student loans and (3) student loans made by an educational institution. Loans being refinanced must have been used for "qualified higher education expenses" (defined by the Internal Revenue Code), which consists of expenses included in the Higher Education Act's definition of "cost of attendance".

3

The 1% principal reduction is based on the total dollar amount of all disbursements made, excluding any amounts that are reduced, cancelled, or returned. To receive the reward, the benefit must be requested from the servicer, the student borrower must have earned a bachelor’s degree or higher and proof of such graduation (e.g. copy of diploma, final transcript, or letter on school letterhead) must be provided to the servicer. This reward is available once during the life of the loan, regardless of whether the student receives more than one degree.

4

Loans being refinanced must have been used for "qualified higher education expenses" (defined by the Internal Revenue Code), which consists of expenses included in the Higher Education Act's definition of "cost of attendance". "Qualified higher education expenses" generally include tuition and fees, room and board, costs for rental or purchase of any equipment, materials, or supplies required of all students in the same course of study, an allowance for books, supplies, transportation, and miscellaneous personal expenses, and a reasonable allowance for the documented rental or purchase of a personal computer. 

5

The student must be enrolled at least half‐time or more in a degree granting program at an approved school. The student must be the legal age of majority at the time of application, or at least 17 years of age if applying with a cosigner who meets the age of majority requirements in the cosigner's state of residence. The legal age for entering into contracts is 18 years of age in every state except Alabama (19 years old), Nebraska (19 years old, only for wards of the state), Mississippi and Puerto Rico (21 years old). Private student loans funded by SunTrust are not available to students or cosigners who are permanent residents of Iowa or Wisconsin. International students can apply for the Union Federal Private Student Loan with an eligible cosigner who is a U.S. citizen or permanent resident alien.

6

Interest rates and APRs (Annual Percentage Rates) depend upon (1) the student’s and cosigner’s (if applicable) credit histories, (2) the repayment option and repayment term selected, (3) the requested loan amount and (4) other information provided on the online loan application. If approved, applicants will be notified of the rate applicable to your loan. Rates and terms are effective for applications received after The variable interest rate for each calendar month is calculated by adding the current One-month LIBOR index to your margin. The One-month LIBOR index is captured on the 25th day of the immediately preceding calendar month (or if the 25th is not a business day, the next business day thereafter), and is rounded up to the nearest 1/8th of one percent. The current One‐month LIBOR index is % on . LIBOR stands for London Interbank Offered Rate. The One‐month LIBOR is published in the "Money Rates" section of the Wall Street Journal (Eastern Edition). The variable interest rate will increase or decrease if the One‐month LIBOR index changes. The fixed rate assigned to a loan will never change except as required by law or if you request and qualify for the ACH reduction benefit(s).

7

Any applicant who applies for a loan the month of, the month prior to, or the month after the student's graduation date, as stated on the application or certified by the school, will only be offered the immediate repayment option. With the Full Deferment option, payments may be deferred while a student is enrolled at least half‐time at an approved school and during the six month grace period after graduation or dropping below half‐time status, but the total initial deferment period, including the grace period, may not exceed 66 months from the first disbursement date. The student must be enrolled at least half-time to be eligible for the partial interest, fully deferred and interest only repayment options unless the loan is being used for a past due balance and the student is out of school. For Partial Interest and Fully Deferred loans, any accrued and unpaid interest will be capitalized (added to the unpaid principal loan balance) when repayment of principal and interest begins. There are no prepayment penalties. The Partial Interest Payment option of $25 per month is only available on loans of $5,000 or more. View payment examples for the Custom Choice Loan; view payment examples for the Union Federal Private Student Loan; view payment examples for the Graduate Business School Loan. Making interest only or partial interest payments while in deferment (including the grace period) will not reduce the principal balance of the loan. If you choose the Immediate Repayment option, the first payment of principal and interest will be due approximately 30‐60 calendar days after the final disbursement date, the minimum monthly payment will be $50.00 and it will apply to the new loan in full, including, if applicable, any existing private student loans that you refinance into the new loan.

8

View payment examples for the Custom Choice Loan. The 15 year term and Partial Interest Payment plan of $25 per month are only available for loan amounts of $5,000 or more. Making interest only or partial interest payments while in school will not reduce the principal balance of the loan.

9

The minimum loan amount is $1,001 with exceptions based on the student’s state of permanent residence, as follows: Alaska: $5,001, Colorado: $3,001, New Mexico: $2,501, Oklahoma: $5,001, Rhode Island: $5,001, South Carolina: $3,601. The maximum annual loan limit to cover in-school expenses for each academic year (July 1 to June 30 of the applicable year) is determined by your school’s cost of attendance, minus other financial aid such as federal student loans, scholarships or grants, up to $65,000 for the Custom Choice Loan and Union Federal Private Student Loan or up to $95,000 for the Graduate Business Loan. The loan amount must be certified by the school. The annual loan amount maximums are subject to an aggregate maximum student loan debt limit (which includes all student loans and certain unsecured consumer debt and is calculated per applicant separately including students and cosigners) of $150,000 for Custom Choice Loan and Union Federal Private Student Loan or up to $175,000 for the Graduate Business Loan. If you choose the In-School Refinance Option, the maximum amount that you can refinance is $150,000 minus the amount that you are applying for to cover in-school expenses.

10

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.

11

To automatically receive a 0.25% interest rate reduction, the first 36 consecutive monthly payments must be made on-time (received by the servicer within 10 calendar days after their due date). Alternatively, if no late payments have been made, the rate reduction can be received prior to the end of the first 36 months of scheduled payments if the loan has been prepaid  in an amount equal to the first 36 monthly scheduled payments, based on the monthly payment amount in effect when you make your payments.   Payments made prior to the start of the repayment term do not count toward the number of required monthly payments.

12

Principal and interest payments may be deferred while the student is enrolled at least half‐time at an approved school and during the six month grace period after graduation or dropping below half‐time status, but the total initial deferment period, including the grace period, may not exceed 66 months from the first disbursement date. Any accrued and unpaid interest will be capitalized (added to the unpaid principal loan balance) when repayment of principal and interest begins. There are no prepayment penalties.

13

If the student dies after any part of the loan has been disbursed, and the loan has not been charged off loan due to non‐payment or bankruptcy, then the outstanding balance will be forgiven if the servicer is informed of the student's death and receives acceptable proof of death. If the student becomes totally and permanently disabled after any part of the loan has been disbursed and the loan has not been charged off due to non‐payment or bankruptcy, the loan will be forgiven upon the servicer's receipt and approval of a completed discharge application. If the student borrower dies or becomes totally and permanently disabled prior to the full disbursement of the loan, and the loan is forgiven, all future disbursements will be cancelled. Loan forgiveness for student death or disability is available at any point throughout the life of the loan.

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Did You Know?

It only takes about 15 minutes to apply for a private student loan.

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

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  • 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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"SunTrust Advisors" may be officers and/or associated persons of the following affiliates of SunTrust Banks, Inc.: SunTrust Bank, our commercial bank, which provides banking, trust and asset management services; SunTrust Investment Services, Inc., a registered broker-dealer, which is a member of FINRA and SIPC, and a licensed insurance agency, and which provides securities, annuities and life insurance products; SunTrust Advisory Services, Inc., a SEC registered investment adviser which provides Investment Advisory services.

SunTrust Private Wealth Management, International Wealth Management, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups and GenSpring are marketing names used by SunTrust Bank, SunTrust Banks Trust Company (Cayman) Limited, SunTrust Delaware Trust Company, SunTrust Investment Services, Inc., and SunTrust Advisory Services, Inc.

SunTrust Bank and its affiliates do not accept fiduciary responsibility for all banking and investment account types offered. Please consult with your SunTrust representative to determine whether SunTrust and its affiliates have agreed to accept fiduciary responsibility for your account(s) and if you have completed the documentation necessary to establish a fiduciary relationship with SunTrust Bank or an affiliate. Additional information regarding account types and important disclosures may be found at www.suntrust.com/investmentinfo.

SunTrust Robinson Humphrey is the trade name for the corporate and investment banking services of SunTrust Banks, Inc. and its subsidiaries, including SunTrust Robinson Humphrey, Inc., member FINRA and SIPC.