Federal student loan payment login

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Federal student loan payment login

Benefits of the Union Federal ® Private
Student Loan:

Fixed or variable interest rates
Multiple repayment options 1
Loan payments can be deferred until after graduation 2
0.25% interest rate reduction with 36 consecutive on-time payments 3
Up to 0.50% interest rate reduction for auto pay 4
No application, origination or prepayment fees
Cosigner release available 5

Apply online now. A Union Federal Private Student Loan is a smart way to cover
college essentials.

SunTrust is expanding access to funding! Now even more families can pay for college with a Union Federal Private Student Loan. You worked hard to get into college, let SunTrust help you pay for it. SunTrust can help finance a college education with flexible options. The sooner you start filling out our simple application the sooner you can relax. We’ve been helping students like you for years, and we can help you too.

A few simple things to know before you apply.

Multiple Loan Options

Take a moment to consider the best way for you to pay back your loan.

Repayment Options

Immediate Repayment 1
Interest-Only Repayment 1
Partial Interest Repayment 1
Full Deferment 1

Choose between a fixed or variable rate

Ways to decrease your rate.

Even a small percentage can make a difference in your bank account.

0.25% interest rate reduction with 36 consecutive on-time payments 3
Up to 0.50% interest rate reduction for auto pay 4

In-School Refinance Option

Refinance existing private student loans 6 into a new Union Federal Private Student Loan with the In-School Refinance Option

Am I eligible?

A Union Federal Private Student Loan can help pay for books, lab fees, and other expenses. Eligibility requirements for the student:

Be enrolled at least half-time at an approved school in a degree-granting program
Be the legal age of majority, or at least 17 years of age at the time of application if applying with a cosigner who meets the age of majority requirements in the cosigner’s state of residence 7
Have a good credit record, with no student loan defaults or bankruptcies
Have positive income, or a creditworthy cosigner with positive income
Be a U.S. citizen or permanent resident, unless you are an eligible international student applying with an eligible cosigner who is a U.S. citizen or permanent resident alien. The Union Federal Private Student Loan is not available to students or cosigners who permanently reside in Iowa or Wisconsin.

Cosigners are great.

If someone with a good credit history is a cosigner, your application for a Union Federal Private Student Loan is more likely to be approved. A cosigner can be an eligible parent, guardian, friend, etc.

Application checklist.

Use this checklist to help you prepare to complete the online application process.

Personal information (name, Social Security number, date of birth)
Address (mailing address and permanent address)
Phone number(s)
Email address
Personal reference (name, address, phone)
School information (name of school, cost of attendance, grade level, expected graduation date)
Loan information (amount needed and when)
Income information for the cosigner or student (on a cosigned loan, income is not required of the student but is of the cosigner; for a student applying on their own, income is required of the student)
Payoff Documentation (only required for students opting to refinance private student loans 6 ) – learn more about the In-School Refinance Option

Contact Us.

Contact Us

To speak with a Union Federal Private Student Loan Specialist:

866.513.8445

To email a Union Federal Private Student Loan Specialist: UFPSL@alternativeloan.com

To speak with a Union Federal Private Student Loan Specialist: (866) 513-8445 (866) 513-8445

To email a Union Federal Private Student Loan Specialist: UFPSL@alternativeloan.com

SunTrust Bank Education Loans
1001 Semmes Avenue
Richmond, VA 23224

Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. View and compare the available features of SunTrust private student loans.

Union Federal is a federally registered trademark of Cognition Financial Corporation used by SunTrust Bank under license. The Union Federal Private Student Loan is funded by SunTrust Bank and is not offered in connection with any other lender or the federal government.

Cognition Financial Corporation is not an affiliate of SunTrust Bank.

Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue this Union Federal Private Student Loan program without notice. This loan program is subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.

SunTrust Bank may sell your Union Federal Private Student Loan to a third party. All borrower benefits set forth in your credit agreement that are not subject to the discretion of SunTrust Bank must be honored by any potential purchaser provided you qualify for such benefits.

1 Any applicant who applies for a loan the month of, the month prior to, or the month after the student’s graduation date, as stated on the application or certified by the school, will only be offered the Immediate Repayment option. The student must be enrolled at least half-time to be eligible for the partial interest, fully deferred and interest only repayment options unless the loan is being used for a past due balance and the student is out of school. With the Full Deferment option, payments may be deferred while the student is enrolled at least half-time at an approved school and during the six month grace period after graduation or dropping below half-time status, but the total initial deferment period, including the grace period, may not exceed 66 months from the first disbursement date. The Partial Interest Repayment option (paying $25 per month during in-school deferment) and 15-year term are only available on loans of $5,000 or more. View payment examples for the Union Federal Private Student Loan. With the Immediate Repayment option, the first payment of principal and interest will be due approximately 30-60 calendar days after the final disbursement date and the minimum monthly payment will be $50.00. There are no prepayment penalties.

2 Principal and interest payments may be deferred while the student is enrolled at least half-time at an approved school, and during the six month grace period after graduation or dropping below half-time status, but the total initial deferment period, including the grace period, may not exceed 66 months from the first disbursement date. Any accrued and unpaid interest will be capitalized (added to the unpaid principal loan balance) when repayment of principal and interest begins. There are no prepayment penalties. Making interest only or partial interest payments during in-school deferment (including the grace period) will not reduce the principal balance of the loan.

3 The 0.25% interest rate reduction will automatically be applied if either one of the following payment conditions has been met: (a) the first 36 consecutive monthly payments are made on-time (received by the servicer within 10 calendar days after their due date), or (b) an amount equal to the first 36 months of scheduled payments (based on the monthly payment amount in effect when you make the most recent payment) has been paid and is not preceded by any late payments. Payments made prior to the start of your repayment term do not count toward the number of required monthly payments. As an example, if you have made 30 months of consecutive on-time payments, and then, based on the monthly payment amount in effect on the due date of your 31st consecutive monthly payment, you pay a lump sum equal to 6 months of payments, the reduction will be automatically applied as of your 31st payment.

4 Earn an interest rate reduction for making automatic payments of principal and interest from a bank account (“auto pay discount”). Earn a 0.25% interest rate reduction when you auto pay from any bank account and an extra 0.25% interest rate reduction when you auto pay from a SunTrust Bank checking, savings, or money market account. The auto pay discount will continue until (1) automatic deduction of payments is stopped (including during any deferment or forbearance) or (2) three automatic deductions are returned for insufficient funds during the life of the loan. The extra 0.25% interest rate reduction when you auto pay from a SunTrust Bank account will be applied after the first automatic payment is successfully deducted and will be removed for the reasons stated above. In the event the auto pay discount is removed, the loan will accrue interest at the rate stated in your Credit Agreement. The auto pay discount is not available when payments are deferred or when the loan is in forbearance, even if payments are being made.

5 A cosigner may be released from the loan upon request to the servicer, provided that the student borrower is a U.S. citizen or permanent resident alien, has met credit criteria, and met either one of the following payment conditions: (a) the first 36 consecutive monthly principal and interest payments have been made on-time (received by the servicer within 10 calendar days after their due date), or (b) the loan has not had any late payments and has been prepaid prior to the end of the first 36 months of scheduled principal and interest payments in an amount equal to the first 36 months of scheduled principal and interest payments (based on the monthly payment amount in effect when you make the most recent payment). As an example, if you have made 30 months of consecutive on-time payments, and then, based on the monthly payment amount in effect on the due date of your 31st consecutive monthly payment, you pay a lump sum equal to 6 months of payments, you will have satisfied the payment condition. Cosigner release may not be available if a loan is in forbearance.

6 Private student loans that can be refinanced with a new SunTrust private student loan are private student loans and private consolidation loans that the student applicant used for, or used to refinance loans used for, certain postsecondary expenses, not currently past due. Loans that cannot be refinanced into this loan are (1) private student loans for which the student applicant is not the primary borrower, (2) Federal student loans and (3) student loans made by an educational institution. Loans being refinanced must have been used for “qualified higher education expenses” (defined by the Internal Revenue Code), which consists of expenses included in the Higher Education Act’s definition of “cost of attendance”. Learn more about the In-School Refinance Option.

7 The legal age for entering into contracts is 18 years of age in every state except Alabama (19 years old), Nebraska (19 years old, only for wards of the state), and Mississippi and Puerto Rico (21 years old).

8 Interest rates and APRs (Annual Percentage Rates) depend upon (1) the student’s and cosigner’s (if applicable) credit histories, (2) the repayment option and repayment term selected, (3) the requested loan amount and (4) other information provided on the online loan application. If approved, applicants will be notified of the rate applicable to your loan request. Rates and terms effective for applications received on or after . The low APR assumes a 7-year $10,000 loan, with two-disbursements and no deferment. The high APR assumes a 15-year $10,000 loan with two disbursements.
The variable interest rate for each calendar month is calculated by adding the current One-month LIBOR index to your margin. LIBOR stands for London Interbank Offered Rate. The One-month LIBOR is published in the “Money Rates” section of the Wall Street Journal (Eastern Edition). The One-month LIBOR index is captured on the 25th day of the immediately preceding calendar month (or if the 25th is not a business day, the next business day thereafter), and is rounded up to the nearest 1/8th of one percent. The current One-month LIBOR index is % on . The variable interest rate will increase or decrease if the One-month LIBOR index changes.
The fixed rate assigned to a loan will never change except as required by law or if you request and qualify for the auto pay discount or on-time payment benefit.

9 The minimum loan amount is $1,001 with exceptions based on the student’s state of permanent residence, as follows: Alaska: $5,001, Colorado: $3,001, New Mexico: $2,501, Oklahoma: $5,101, Rhode Island: $5,001, South Carolina: $3,701. The maximum annual loan limit to cover in-school expenses for each academic year is determined by the school’s cost of attendance, minus other financial aid, such as federal student loans, scholarships or grants, up to $65,000. The loan amount must be certified by the school. If you choose the In-School Refinance Option, the maximum amount that you can refinance is $150,000 minus the amount that you are applying for to cover in-school expenses. In any event, the loan amount cannot cause the aggregate maximum student loan debt (which includes all student loans and certain unsecured consumer debt) to exceed $150,000 per applicant (on cosigned applications, separate calculations are performed for the student and cosigner).

10 If the student dies after any part of the loan has been disbursed and the loan has not been charged off due to non-payment or bankruptcy, then the outstanding balance will be forgiven if the servicer is informed of the student’s death and receives acceptable proof of death. If the student becomes totally and permanently disabled after any part of the loan has been disbursed and the loan has not been charged off due to non-payment or bankruptcy, the loan will be forgiven upon the servicer’s receipt and approval of completed discharge application. If the student borrower dies or becomes totally and permanently disabled prior to the full disbursement of the loan, and the loan is forgiven, all future disbursements will be cancelled. Loan forgiveness for student death or disability is available at any point throughout the life of the loan.

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