SunTrust Custom Choice Student Loan is no longer available to new customers on SuperMoney. Click here to compare and quickly find the best options for your needs.
Last Updated: 04/18/2025
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SunTrust Custom Choice Student Loan
Unaffiliated
in Private Student Loans from SunTrust Bank
Last Updated: 04/18/2025
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Highlights
Fixed APR
4.751% - 11.5%
Variable APR
3.501% - 10.55%
Amount Range
$1,001 - $175,000
SunTrust Custom Choice Student Loan Review
SunTrust Custom Choice Student Loan is no longer available to new customers on SuperMoney. Click here to compare and quickly find the best options for your needs. |
SunTrust Custom Choice Student Loan is offered by SunTrust Bank, a bank founded in 1865 and based in Atlanta, GA. SunTrust Custom Choice Student Loan are available in 50 states and Washington, DC.
SunTrust Custom Choice Student Loan FAQ
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 $1K 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:
What do you need to qualify for SunTrust Custom Choice Student Loan?
SunTrust Custom Choice Student Loan does not require or does not disclose a credit score minimum. The minimum age to be eligible is 17 or the state minimum, whichever is higher. SunTrust Custom Choice Student Loan does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by SunTrust Custom Choice Student Loan. An uncommon feature is for lenders to offer their services to non-residents. SunTrust Bank is one of the few that does.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of identity
- Proof of citizenship or residence permit
- Proof of residence
Is SunTrust Bank a legit company?
SunTrust Bank was founded in 1865, it is a well-established company that has been in business for 161 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.
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Message from our editor
What We Love About SunTrust
SunTrust Bank offers student loans for educational needs from pre-k through graduate school. SunTrust Bank offers highly competitive interest rates along with no application or origination fees. The online lending division of SunTrust Bank called LightStream provides the pre-k through 12th-grade loan options, while SunTrust offers postgraduate options. Each type of loan has cost-saving benefits, such as an interest rate reduction for autopay. The Custom Choice loan even offers a 1% reduction of your principal when you graduate. (We love that they reward graduates!) If you need a cosigner to qualify for the student loan, after 36-48 months of on-time payments, you can apply to release your cosigner.
What Could SunTrust Do Better?
The catch is SunTrust caters to those with good to excellent credit. Established credit history, positive income, and an upper 600’s credit score are what they are looking for. If you do not meet the criteria, you can still obtain the loan with a qualifying cosigner.
SunTrust’s Backstory
SunTrust Banks, Inc. is a well-established company dating back to 1891. SunTrust Bank is the largest subsidiary of SunTrust Banks, Inc (now Truist). Together with their online lending division, LightStream provides lending, credit card, deposits, and trust and investment services.
The Verdict
SunTrust is a competitive option for private student loans, provided you can meet their high standards or have a co-signer who meets them. The benefits of a SunTrust or LightStream loan are generous with low interest rates, discounts for completing your studies, and no origination fees. They also have in-house refinancing available of student loans, once again, provided you qualify.
Undergraduate and graduate students should seek out and apply for grants and scholarships before looking at loan options. SunTrust cannot compete with Federal Student Loan programs. Federal Financial aid provides the lowest interest rates and most flexible repayment terms. Only after grants, scholarships, and Federal loans are exhausted should a student consider a private loan.
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