Money For College:
Do you need a student loan or money for college?
Rising tuition coupled with limited government aid has created a widening gap between the cost of college and financial aid. The private student loan, Academic Answer®, is a way to fill the gap for money for college by borrowing the difference between college tuition and other financial aid. With this loan, you will have the option no out-of-pocket expense until after college graduation or you can save money for college by starting the student loan repayment process during school.
SunTrust Academic Answer student loans help provide money for college and help you attend the college of choice.
Students often use factors such as school rankings, majors, and student activities to decide what college they want to attend. All too often, money for college and tuition is the only barrier many face. The Academic Answer private student loan from SunTrust gives students and parents an opportunity to get the money for college they need to make attending a top-choice school possible.
The Academic Answer private student loan is everything you'd expect from SunTrust and more.
Our private student loan program helps you get the money you need for college and also help you experience the benefits of choosing SunTrust.
- Receive a $300 principal reduction on every SunTrust Academic Answer private student loan you take out upon graduation.1
- During repayment, lower your interest rate by 0.25% when you choose to have your private student loan payments automatically deducted from your personal bank account.2
- SunTrust private student loan rates are as low as one-month London Interbank Offered Rate (LIBOR) +2.5%.3
- Defer private student loan payments until after college graduation.
- Enjoy generous student loan repayment terms with flexible student loan programs for money for college.
To learn more about our money for college you can speak with a SunTrust representative by calling 866.763.6351 or get started now by applying online.
At SunTrust Bank, we understand that paying for college can be difficult. That's why we made getting the additional money for college you need an easy process. Simply fill out the online form to apply for a student loan. You can also call 866.763.6351 to learn more about Academic Answer, a private student loan designed to bridge the gap between financial aid and the cost of college.
SunTrust private student loans are also known as alternative student loans. Private student loans can give you money for college to help bridge the gap between the actual cost of college education and the amount individuals have access to with grants, scholarships, and federal loans. Private student loans are offered by private lenders and may not be included in a Federal Consolidation Loan Program.For more information visit our student loan glossary.
1$300 principal reduction is applied to unpaid principal balance when proof of graduation is received. If outstanding balance is less than $300, balance will be reduced to $0
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.
3LIBOR stands for London Interbank Offered Rate. The one-month LIBOR is the Current Index, as published in the "Money Rates" section of the Wall Street Journal (Eastern Edition). Your variable interest rate and Annual Percentage Rate (APR) may be higher depending upon your credit history and will increase or decrease if the one-month LIBOR index changes. Your variable interest rate is calculated by adding the current one-month LIBOR index (captured on the 25th business day of each month and rounded up to the nearest 1/8th of one percent) to your margin. The current one-month LIBOR index was 3.000% on 5/1/08. This APR example assumes a $12,500 loan disbursed over two transactions with a deferment period of 45 months upon initial disbursement and a six month grace period upon graduation, a 20 year repayment term with no repayment fees, and a 2.50% margin. Margins can range from 2.5% to 9.25% and repayment fees can range from 0% to 6.5% both depending upon your or your cosigner's credit history.
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
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