A private student loan that's personalized for you
With Custom Choice, you can personalize your private student loan:
- Choice of a fixed or variable interest rate
- Choice of repayment terms
- Choice of repayment plans
With the Custom Choice Loan, you can choose a fixed rate student loan with predictable monthly payments, or a variable-rate1 loan — both with their own advantages. The choice is yours. Our online tools will help you make an informed decision — view current rates and calculate different loan scenarios online before committing to a loan type. A FAFSA is highly recommended, however it is not required for the Custom Choice Loan.
The Custom Choice Loan program has four repayment options: Immediate Repayment, Interest-Only Repayment, Partial Interest Payment, or Full Deferment.2 Students can choose which repayment plan best suits their needs; however, the Partial Interest Payment plan of $25 per month is only available on loans of $5,000 or more. There are always several options to choose from with a Custom Choice Loan.
Interested? Learn more about getting started with the Custom Choice Loan.
1 Variable rate based on the One-month London Interbank Offered Rate (LIBOR) index with the monthly payment increasing or decreasing if the index increases or decreases.
2 Any accrued and unpaid interest will be capitalized (added to your principal loan balance) when repayment of principal and interest begins. Students must be enrolled at least half-time to be eligible.
Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue these programs without notice. All loan programs are subject to approval and may not be available in certain jurisdictions.