Private loans — also called alternative loans — can help you fill the gap when federal loans, scholarships, grants and work-study programs don't quite meet your financial need. SunTrust offers the Academic Answer® private loan.*

Borrowing money to finance your higher education can be a wise investment; however please consider the following before you apply for a private loan:

• You should always borrow from the federal student loan programs before you apply for private loans. Federal student loans, like the Stafford and PLUS loan, usually offer lower interest rates and an overall lower cost of borrowing. For more information on the difference between private and federal education loans view our loan comparison chart.



• Private loans are offered by private lenders, like SunTrust. Because these private supplemental loans aren't guaranteed by the federal government, you don't need to fill out any federal forms to apply.



• Private loans can be used for all education-related expenses. You can borrow up to the cost of attendance at your school, minus other financial aid received.



• Interest rates for private loans are usually based on an index (such as Prime or LIBOR) plus a margin, depending upon your credit history.



• Private loans typically allow students to apply for a loan with a creditworthy cosigner, such as your parents, which can increase your chance of being approved and obtaining a better interest rate.

Find out more information about the Academic Answer® Loan from SunTrust.*

* Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue these programs without notice. All loan programs may not be available in certain jurisdictions.