Academic Answer®:
A Student's Solution to Alternative Student Loans
Introducing Academic Answer, an Alternative Student Loan from SunTrust. SunTrust Bank offers an alternative student loan to help students fill the gap if federal loans, scholarships, and grants don't cover all of your college expenses. Academic Answer alternative student loans are available for undergraduate and graduate students enrolled at least half-time.
SunTrust's alternative student loan program provides:
- Enjoy a six-month grace period with our flexible alternative student loan programs.
- SunTrust's alternative student loans feature generous college loan repayment terms.
- Graduation Reward - $300 Principal Reduction per alternative student loan at graduation.1
- 0.25% Interest Rate Reduction for automatic withdrawals.2
- No fees on the Academic Answer student loan.3
- SunTrust alternative student loans feature competitive interest rates.
- Our alternative student loans allow you to borrow up to the cost of college education, minus other financial aid received.
- Make no alternative student loan payments until after graduation4
- Cosigner release available.5
Use our e-signature feature and apply online for an Academic Answer alternative student loan.
Alternative Student Loan Questions? Call 866.763.6351.
Flexible Alternative Student Loan Repayment Options
- Deferred - defer the principal and interest of your alternative student loan while you are in school at least half-time. Begin paying six months after graduation.
- Interest Only - defer the principal and make interest-only student loan payments while you are enrolled in school at least half-time.
- Immediate - begin repaying your alternative student loan immediately. Repayment of the principal and interest of your alternative student loan begins six months after graduation or after dropping below half-time status. Interest will continue to accrue while your alternative student loan payments are deferred, and it will be capitalized (added to your principal loan balance) when repayment begins. There are no prepayment penalties on our alternative student loans.
Cosigners Can Help
You may need a creditworthy cosigner to qualify for the Academic Answer alternative student loan. And, you can add a cosigner without reapplying.
After you make 48 initial, consecutive on-time alternative student loan payments, you can apply to have the cosigner released from liability. You must meet credit criteria on your own at that time.
SunTrust alternative student loans help you get the money you need for your college education expenses – including such items as college tuition, room and board, books, school fees, transportation, and supplies. Apply Now for an alternative student loan from SunTrust Call 866.763.6351 or click here to apply online.
Certain restrictions and limitations may apply on our alternative student loans. SunTrust Bank reserves the right to change or discontinue these alternative student loan programs without notice. All alternative student loan programs may not be available in certain jurisdictions.
SunTrust Client Commitment: SunTrust will never send unsolicited emails asking alternative student loan clients to provide, update, or verify personal account information, such as passwords, Social Security numbers, PINs, credit or Check Card numbers, or other confidential information.
1Proof of graduation must be submitted within 90 days of graduation. Copy of diploma or final transcript is acceptable.
2The 0.25% rate reduction is available to borrowers who arrange with their servicer to automatically deduct monthly payments from their personal bank account. Savings programs are effective for all loans disbursed on or after October 13, 2006. SunTrust reserves the right to change or discontinue these benefits without notice.
3Effective for applications received on or after 10/15/09.
4Interest will continue to accrue while your payments are deferred, and it will be capitalized (added to your principal loan balance) when repayment begins.
5Borrowers must meet credit guidelines at the time the cosigner release is requested.
Certain restrictions and limitations may apply. SunTrust reserves the right to change or discontinue these benefits without notice. This loan program may not be available in all jurisdictions