SunTrust Suspends Private Student Loan Program
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SunTrust, now Truist, stopped offering private student loans in May 2020. SunTrust private student loans will continue to be serviced by American Education Services, and borrowers’ repayment schedules will not be affected.
SunTrust offered multiple loan products nationwide including its Custom Choice loan and Start Student Loan. The Custom Choice Loan offered several in-school repayment options and a generous 36 months of interest-only payments once repayment began. The Start Student Loan offered one unique perk other lenders don't: no interest for the first six months of repayment. Both loans also had the benefit of a 2% principal reduction upon graduation. The is now offered by Cognition Financial.
If you're interested in private student loans, consider these lenders:
Or compare student loan refinance lenders by category to find the right one for you:
Existing SunTrust borrowers will still have their loans serviced by American Education Services. Here are repayment details for these loans:
If you no longer wish to work with SunTrust, now Truist, consider with a different lender if you can qualify for a better interest rate.
