SunTrust Student Loans Review
Do you lack money when striving to study and get proper education? SunTrust is an innovative lender that offers a range of options to create a possibility for your dreams to come true.
Private Loans are available both for undergraduates and graduates. An additional opportunity is offered to parents.
Despite the fact SunTrust student loans maximal limits are a bit lower than in any other institution, it will be a perfect increase to federal student loans.
Besides, according to the statistics, it is usually sufficient to cover all the lending needs.
Although the majority of lending companies typically offer student loan consolidation, SunTrust does not.
Consolidation loans unite both federal and private loans creating one account.
As a rule, such payments are lower, and they are available at more accessible and reasonable interest rates, so they are more beneficial than those with separated loans.
How to Apply for a Loan and Get It
Another benefit of student loans provided by SunTrust is an easy application process and quick reaction.
Each undergraduate or graduate can fill in an online application form and receive SunTrust loan within a few business days.
The advantageous point of such loans is a competitive interest rate for all loan types, including variable-rate and fixed-rate advances.
Moreover, extra incentives are offered to lower the final APR, including:
- Up to 0.75% reduction of the APR in the early application incentive. File for a loan in advance, by the end of the July, and save an attractive sum of money.
- Graduating you also have an excellent opportunity to receive 1% off the APR.
- Set automatic monthly payments, and you will get up to 0.5% off the APR.
SunTrust offers top rate reduction incentives that will be attractive probably for all the students. They are generally subject to the basement APR provided by the bank and your credit worthiness.
Terms and Special Conditions
Being a loyal and trustful bank, SunTrust offers loans for all the borrowers’ types, including those with bad credit history. In case your credit records are not so good, you will have to find a cosigner to get loan approval.
However, after 48 timely and consecutive payments you will have an opportunity to give up a cosigner.
The minimum term of SunTrust student loans comprises seven years, while the maximum reaches a 15-year term.
Apart from other benefits, the bank presents a range of additional tools, such as:
- Cost calculator that gives the students all the detailed cost information and helps them avoid increasing and overspending the total depth.
- Scholarship finding allows students to opt for alternative income sources and become a solvent student.