Consolidating private and federal student education loans
And if you're still confused, don't be afraid to call us. Sun Trust recommends students compare all aid alternatives prior to applying for private student loans.Anyone considering a private student loan should understand all aspects of the loan, the application process and its repayment requirements.
Learn more about Sun Trust private student loan options.For more information of the specific loan terms, please visit the Loan Consolidation home page. Maximum Loan Length: 10-30 years Frequency of Payments: Varies Prepayment penalties: None Fees: None You apply for a Direct Consolidation Loan through Student Before taking out a private student loan, or if you have one already, it's important to clearly understand all aspects of the loan and its repayment requirements.With the information below, let us help you understand the basics. Private Student Loans Offered by private lenders like Sun Trust, private student loans can help bridge the gap between the cost of a college education and the financial aid received from federal student loans, scholarships and grants.To begin, lenders will require the student and cosigner, if applicable, to complete a loan application.
After the application is submitted, the lender will review a credit report for all applicants.
Is the Cosigner Release Application available on Sun Trust's website? You must call AES at 800.233.0557, Monday through Friday, AM to PM (ET) to request one be mailed to the student borrower.
How is the decision made to release a cosigner from a Sun Trust private student loan?
Many of the following questions may be under consideration What is credit history and why is it important?
As part of the private student loan application process, a lender will review the credit history of the student and cosigner (if applicable).
Maximum Loan Amount: None Interest Rate: Weighted average interest rate on the loans being consolidated, rounded to the nearest one-eighth of 1 percent, not to exceed 8.25 percent.