Student Loans for College

Looking for money for college? Our student loans have got you covered.

If you’ve explored federal aid and other ways to pay for school, and you’re still falling short, a SunTrust private student loan can help fill the gap. Available to undergrads and graduate students, SunTrust college loans provide money for tuition, housing and other school expenses — along with benefits you won’t find everywhere: 

  • Competitive rates1 — Choose between a variable or fixed rate:
    • Variable rates: % to % APR
    • Fixed rates: % to % APR
    • (The specific APR offered is based on credit history, loan options and application information.) 
  • No fees to apply — There are no application, origination or prepayment fees.
  • In-school deferment — Have the option to defer2, or put on hold, payments while in school.
  • Special rewards — Lower your interest rate by enrolling in auto pay3. Also earn either a Graduation Reward4 (principal reduction) or On-Time Payment Reward7 (interest rate reduction).
What is a private student loan for college?

A private student loan is a student loan issued by a private lender like a bank, rather than the federal government. And while it may sound like it’s for private schools, a private student loan can be used to pay for costs at an approved public or private college or university.

custom choice
For: Undergraduate and Graduate students

A loan that can be used for a wide range of degrees and majors.

  • Loan amount: $1,001 - $65,0005
  • Variable APR range1:
    % - % APR
  • Fixed APR Range1:
    % - % APR
  • Graduation reward: 2% principal reduction4
  • Available to U.S. Citizens & Permanent Residents
custom choice
For: Undergraduate and Graduate students

Can be used for a wide range of degrees/majors & also open to international students.6

  • Loan amount: $1,001 - $65,0005
  • Variable APR range1:
    % - % APR
  • Fixed APR Range1:
    % - % APR
  • 0.25% interest rate reduction for consistently making on-time payments7
  • Available to U.S. Citizens, Permanent Residents & International Students6
custom choice
For: Graduate business students

Available to students seeking an MBA or other advanced business degree.

  • Loan amount: $1,001 - $95,0005
  • Variable APR range1:
    % - % APR
  • Fixed APR Range1:
    % - % APR
  • Graduation reward: 1% principal reduction4
  • Available to U.S. Citizens & Permanent Residents

Are you still in the planning stage? Would you like to learn more about how to plan and pay for college? This is where to start.

The 2018-19 sweepstakes is now over. Thank you for your interest in the Off to College Scholarship Sweepstakes. See the 2018-19 Winners.

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.

* NO PURCHASE NECESSARY.  Open to U.S. Citizens or permanent U.S. residents, who are 13 years of age or older, and have a permanent address in AL, AR, FL, GA, MD, MS, NC, SC, TN, VA, WV, or D.C. at the time of entry, who are, during the 2018-19 school year, either high school seniors or undergraduate college students, planning to enroll in and attend, as verified by SunTrust with the potential winner, in the fall of 2019, a U.S. Dept. of Education Title IV eligible 2 or 4 year public or private college or university located in one of the 50 United States or D.C.  Official rules at Sponsor: SunTrust Banks, Inc.


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 low APR assumes a 7-year $10,000 loan, with two disbursements and no deferment. The high APR assumes a 15-year $10,000 loan with two disbursements. The variable interest rate for each calendar month is calculated by adding the current One-month LIBOR index to your margin. 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 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 . 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 auto pay discount(s).


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. Making interest only or partial interest payments during in-school deferment (including the grace period) will not reduce the principal balance of the loan.


Earn an interest rate reduction for making automatic payments of principal and interest from a bank account ("auto pay discount"). 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. SunTrust Bank, Member FDIC. The auto pay discount will continue until (1) automatic deduction of payments is stopped (including during any deferment or forbearance) or (2) three automatic deductions are returned for insufficient funds during the life of the loan. The extra 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 and will be removed for the reasons stated above. In the event the auto pay discount is removed, the loan will accrue interest at the rate stated in your Credit Agreement. The auto pay discount is not available when payments are deferred or when the loan is in forbearance, even if payments are being made.


The principal reduction is based on the total dollar amount of all disbursements made, excluding any amounts that are reduced, cancelled, or returned. To receive this principal reduction, it 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.


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: $5,101, Rhode Island: $5,001, South Carolina: $3,701. The maximum annual loan limit to cover in-school expenses for each academic 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. In any event, the loan amount cannot cause the aggregate maximum student loan debt (which includes all student loans and certain unsecured consumer debt) to exceed $150,000 for the Custom Choice Loan and Union Federal Private Student Loan or $175,000 for the Graduate Business Loan, per applicant (on cosigned applications, separate calculations are performed for the student and cosigner). If you choose the In-School Refinance Option, the maximum amount that you can refinance is subject to the aggregate maximum student loan debt limit ($150,000 or $175,000) minus the amount that you are applying for to cover in-school expenses.


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.


The 0.25% interest rate reduction will automatically be applied if either one of the following payment conditions has been met: (a) the first 36 consecutive monthly payments are made on-time (received by the servicer within 10 calendar days after their due date) or (b) an amount equal to the first 36 months of scheduled payments (based on the monthly payment amount in effect when you make the most recent payment) has been paid and is not preceded by any late payments. Payments made prior to the start of your repayment term do not count toward the number of required monthly payments. 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, the reduction will be automatically applied as of your 31st payment.

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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