in Student Loan Refinancing from SunTrust BankUnaffiliated
|Fixed APR||4.751% - 11.5%|
|Variable APR||2.001% - 10.05%|
|Loan Amount||Up to $175,000|
|Loan Term (Years)||7 - 15|
SunTrust Bank Review
Where does SunTrust Bank do business?
SunTrust Bank is a bank. It offers student loan refinancing in 11 states (and Washington, DC).
What APRs does SunTrust Bank offer on its student refinancing loans?
The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate.
SunTrust Bank offers variable rate APRs that range from 2.001% to 10.05%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 4.751% to 11.5% APR.
Does SunTrust Bank charge an origination fee?
No, SunTrust Bank does not charge a loan origination fee.
A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
Does SunTrust Bank charge prepayment fees?
Yes, SunTrust Bank charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.
What terms does SunTrust Bank offer?
SunTrust Bank provides refinancing loans of 7 to 15 years.
It also offers borrowers unemployment protection. This means that if you lose your job through no fault of your own your loan payments may qualify for a temporary hold.
What type of borrowers will SunTrust Bank consider?
SunTrust Bank considers loans applications from:
- undergraduate degree holders
- graduate degree holders
What do you need to qualify for a SunTrust Bank student loan refinance?
SunTrust Bank doesn’t disclose its credit score minimum.
Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.
What is the estimated funding time for a student loan refinance via SunTrust Bank?
SunTrust Bank will typically fund loans within 7 and 14 days of approval.
303 Peachtree Street, Northeast
Atlanta, GA 30308 USA
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Other Services by SunTrust Bank
- Washington, DC
- North Carolina
- South Carolina
- West Virginia