SunTrust Custom Choice Student Loan Review

SunTrust Custom Choice Student Loan is a private student loan offering by SunTrust Bank, a bank based in Atlanta, GA. Founded in 1865, SunTrust Bank offers student loans in 50 states (and Washington, DC).

What rates does SunTrust Custom Choice Student Loan offer for in-school private student loan?

SunTrust Custom Choice Student Loan has a variable APR that ranges from 3.501% up to 10.55%.

It offers a fixed APR that ranges from 4.751% up to 11.5%.

Many students have little or no credit history when they start college. By having a parent or other creditworthy individual cosign the loan, the student may improve their chance of approval or qualify for lower interest rates.

How much can you borrow from SunTrust Custom Choice Student Loan?

Available loan amounts may vary by applicant but SunTrust Custom Choice Student Loan has a minimum loan amount of $1.001K and offers loans up to $175K.

Does SunTrust Custom Choice Student Loan charge an origination fee?

No, SunTrust Custom Choice Student Loan 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 Custom Choice Student Loan charge prepayment fees?

No, SunTrust Custom Choice Student Loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does SunTrust Custom Choice Student Loan offer?

SunTrust Custom Choice Student Loan provides repayment terms ranging from 7 to 15 years.

SunTrust Custom Choice Student Loan offers borrowers unemployment protection. This means that if you lose your job -- or you have just finished school -- your loan payments are placed on a temporary hold.

What type of borrowers will SunTrust Custom Choice Student Loan consider?

SunTrust Custom Choice Student Loan considers loans applications from:

• undergraduate students
• graduate students

What do you need to qualify for a loan with SunTrust Custom Choice Student Loan?

SunTrust Custom Choice Student Loan doesn’t disclose its credit score minimum. The minimum age to apply for a loan is 17 or the state minimum, whichever is higher.

Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.

SunTrust Custom Choice Student Loan only considers borrowers who are employed.

U.S. citizens, permanent residents, and non-residents can all apply for a SunTrust Custom Choice Student Loan loan.

To qualify, applicants may need to provide the following documentation: