Borrower Benefits for 2006/2007

At SunTrust, financial aid means much more than a loan.

We want to help keep college affordable. That's why we offer money-saving borrower benefits designed specifically for borrowers with Federal Stafford and PLUS loans.

SunTrust Stafford loans qualify for the following benefits:

  • ZERO fee Stafford Loan - SunTrust pays the 3% origination fee for loans guaranteed after April 1, 2006*

  • 0.25% interest rate reduction for payments electronically paid from a personal bank account

  • 3.33% principal reduction after the first 30 consecutive, on-time payments when the borrower is signed up for electronic statements

Be sure to check out our PLUS loan benefits:

  • 3% interest credit after the loan enters repayment, applied 210 days after the PLUS loan is fully disbursed

  • 0.25% interest rate reduction when monthly payments are automatically debited from a personal checking or savings account

  • 3.33% reduction of your original principal loan balance after making 30 initial, on-time payments**

  • PLUS parent borrowers can request that their loan payments be postponed for up to four years while their student is enrolled in school at least half-time***


    *     For residents of or students attending school in Florida and Georgia, SunTrust will pay
           the 3% origination fee on behalf of Stafford loan borrowers.  Guarantors reserve the
           right to charge up to a 1% Federal default fee.
    **   Must be signed up to receive electronic correspondence with a valid email address.
    *** During any period of forbearance, interest will accrue and be capitalized (added to the
          loan balance) at the end of the forbearance period.