Federal vs. Private Student Loans

With so many borrowing options available to parents and students, it’s easy to be confused about the best way to finance a college education. Among the more commonly used options are federal student loans and private student loans. The chart below is designed to help you understand the differences that exist between student loan types. SunTrust recommends students exhaust all aid alternatives including grants, scholarships and federal loans prior to applying for private loans.

Solicite un nuevo préstamo estudiantil privado de SunTrust y podrá transferir el saldo de un préstamo existente.

 

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The 2018-19 sweepstakes is now over. Thank you for your interest in the Off to College Scholarship Sweepstakes. See the 2018-19 Winners.

 

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Información importante

Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. View and compare the available features of SunTrust private student loans.

1  Effective July 1, 2010, Federal Education Loans are only available directly from the U.S. Department of Education.

2  For current federal loan interest rates, visit studentaid.ed.gov or contact your school’s financial aid office.

3  Interest will continue to accrue during periods of deferment or forbearance, and it will be capitalized (added to the principal loan balance) at the end of each deferment or forbearance period.

4  Interest will continue to accrue during periods of deferment or forbearance. Interest capitalization policies may vary by lender.

Looking to reduce your interest rate by 0.50%?

If you are looking for a student loan, get 0.50% off the interest rate when you apply for a new Custom Choice Loan on or before 8/31/19!*

Read Important Disclaimers

* Offer valid for new Custom Choice Loans for which applications are submitted for a credit decision between 12:00:00am EST on June 1, 2019 and 11:59:59pm EST on August 31, 2019. A 0.50% interest rate reduction will be included in the loan options presented to an applicant during the online application process, upon passing the initial credit review. The interest rate reduction will be applied as of the first disbursement date and will be effective for the life of the loan.

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      For more details about Wire Transfers with SunTrust, call 800.947.3786.

       

      Instrucciones de SunTrust para giros entrantes:

      • Para giros entrantes nacionales use el número de ruta ABA: 061000104
      • Para giros entrantes internacionales use el SWIFT/BIC: SNTRUS3A
      • Número de cuenta del beneficiario: número de cuenta completo de SunTrust
      • Nombre del beneficiario: el nombre tal como aparece en la cuenta de SunTrust

      SunTrust incoming wire instructions are also available by calling 800.947.3786 - option 1