At SunTrust Bank, we recognize that the more you know, the easier the financial aid process will be. That's why we've put together some great tips to help you.
Did you know: States and individual colleges may have different deadlines for submitting the FAFSA.
The federal deadline for submitting the Free Application for Federal Student Aid (FAFSA) is midnight Central Time, June 30th; however, there are state deadlines and each college may have a deadline. In addition, any corrections or updates must be submitted by midnight Central Time, September 15th. View deadlines.
Did you know: You can improve your chance of qualifying for a private student loan.
If you're concerned about qualifying for a private student loan because you don't have an established credit history, consider adding a creditworthy cosigner such as a parent, grandparent or other person. Applying with a cosigner who has good credit and positive income can help you satisfy credit criteria and it may even help you obtain a lower interest rate.
Did you know: It only takes about 15 minutes to apply for a private student loan if you're prepared.
When you're ready to apply, be sure to have your contact information, Social Security number, Driver's license number, and one personal reference, not living with you or your cosigner. You will also need your total cost of attendance and estimated financial assistance.
Did you know: Students can register to win a $500 scholarship from SunTrust Bank.
The SunTrust Off To College Scholarship SweepstakesSM is available to high school seniors and current undergraduate students, and online registration begins Sept. 15, 2014. Scholarships will be given away from October - May. It is free to enter and eligibility is not based on GPA or financial need.
Did you know: Additional private loan interest rate reductions are available for SunTrust customers.
SunTrust Bank offers a 0.25% interest rate reduction for automatic payments from a personal bank account and an additional 0.25% interest rate reduction when your payments are automatically deducted from a SunTrust Bank deposit account.
ACH discount(s) only apply when full payments (including both principal and interest) are automatically drafted from a bank account. Discount(s) will remain on the account unless (1) the automatic deduction of payments is stopped (including times during deferment or forbearance) or (2) there are three automatic deductions returned for insufficient funds over the life of the loan. The additional SunTrust ACH reward is available for loans first disbursed on or after 6/1/11 and will be applied after the first automatic payment is successfully deducted from a SunTrust Bank checking, savings or money market account.
Did you know: You can get a free copy of your credit report once a year from all three credit bureaus.
A central Web site, AnnualCreditReport.com, has been set up to help consumers obtain their free credit report. This site allows you to request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.
Did you know: You can view examples of SunTrust private loan monthly payments and total loan costs.
SunTrust offers a variety of repayment examples for the Custom Choice Loan. You can see examples of the current low and high interest rates for fixed and variable rate loan options, along with the monthly payments and total payments over the life of the loan for different loan scenarios, such as deferred payment versus immediate repayment.