Student loans are there to help you through your tough times. When you are a student, regardless of your age, you deserve the education you have applied for. However, your finances can take your opportunities away from you, especially when they are unstable. In such a time, you might be looking for a decent option and a company with that. And so we bring to you Stuntrust student loans and in this article we will help you explore them more.
Suntrust is the best option for those borrowers who come with excellent credit score. If you have overdone your federal aid and you are in need for more finances to cover your education related expenses, this bank is for you. Suntrust will help you find various opportunities to lower the interest rates on your loans. You can, for example, get a 0.5% reduction in your APR if you set your monthly loan payment on automatic with your bank.
But you must understand that Suntrust student loans are not public loans that are supported with Federal aids. Instead the Suntrust student loans are mostly private. That means that you do not get to experience as much borrower protection as you might expect.
Suntrust Student Loans
With that information, let us look into Suntrust student loans. Now these loans do come with a fixed APR rate. This rate is between 4.75% to 11.50%. But the good news is that Suntrust also offers you a variable rate that ranges in between 3.37% to 10.43%. The loan period is also stretched to make it easy for you to pay back your loan. And so the loan term can last for seven, ten or even fifteen years. The amount that you can borrow through Suntrust student loans ranges between $1,001 to $65,000 per year. You can borrow a maximum amount of about $150,000 with Suntrust student loans. But if you are in a graduate program or part of the business school, you are allowed to borrow over $95,000 to $170,000.
You must remember that your credit score should be above 600 in order to qualify for Suntrust student loans. If you have an average score, your loan application will unfortunately be denied. Then your existing debts are also considered. With that the bank looks into your payment history, the years you spent in the school and other factors. Then you must have a continuous income in order to qualify for these loans as well to ensure that you will be paying it back.
