Configure the Custom Choice LoanSM as you like it
With Custom Choice, you can personalize your private education 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 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. The Custom Choice Loan application lets you see how different options affect the cost of your loan, before you make your final decision.
The Custom Choice Loan program has four repayment options: Immediate Repayment, Interest-Only Repayment, Partial Interest Payment, or Full Deferment.2 Your credit history and loan amount requested will determine which repayment options you are offered. While not every option is available to each borrower, there are always a couple of options to choose from with a Custom Choice Loan.
Interested? Learn more about getting started with the Custom Choice Loan.
Find out more about our other private loan, Academic Answer®.
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 may not be available in certain jurisdictions.