Find out what you'll need to do once you're conditionally approved.
See steps
What if I'm not approved?
Find out what
you can do
1. Gather details.
_____ Collect the information you and your co-signer will need to apply.
View a list of all the information you'll need.
2. Check your credit report.
_____ Request a free copy of your credit report from each of the three nationwide consumer reporting companies: Equifax, Experian, and TransUnion.
A low credit score can hurt your chances of getting approved.
3. Get a qualified co-signer, if necessary.
_____ Apply with a co-signer who has an established credit history.
Many students don't qualify for a private student loan on their own because they don't yet have a
credit history. With a creditworthy co-signer, you have a better chance of getting approved if
you don't have a credit history. You may even get a lower loan rate. Learn more about why you might want to add a co-signer.
4. Assess your needs.
_____ Know how much you need to borrow.
Our College Funding Checklist can help.
_____ Research private student loans—but don't apply until you've selected a loan company.
When you apply for a private student loan, the loan company will request you and your co-signer's credit reports. If you apply at more than one company, the credit bureaus get multiple requests in a short period. This can lower your credit score, which can decrease your chances of getting approved for a loan.
5. Consider repayment options.
______ Choose a loan repayment plan.
Immediate or interest-only repayment options lower the cost of your loan. Deferred repayment gives you the flexibility to start repaying once you graduate, but the amount you will owe will be much
greater than if you chose one of the other two options.1 Explore your options.
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Personal information
Your full name
Social Security number
Date of birth
Name of the school you will be attending
Contact information
Home address (no P.O. Boxes)
Length of time lived there
Home telephone number
Proof of enrollment
Tuition bill
Acceptance/award letter
Transcript
Employment information (if applicable)
Employer's name
Occupation/position
Length of time worked there
Employer's telephone number
Credit information
Gross income
Amount and sources of additional income (if applicable). Please note, you do not have to include information about income from alimony, child support, or separate maintenance payments unless you want the income to be considered in connection with your application for credit.
Monthly rent/mortgage payment (include home equity payments)
Personal references (Borrower needs two, co-signer needs one)
(If applying with a co-signer, you each need your own, separate references.)
Names, addresses and phone numbers for references
Must have two people who do not live with you or your co-signer (if applicable)
Astrive Student Loans are private student loans marketed by Union Federal Savings Bank, Member FDIC and Equal Opportunity Lender, and funded by SunTrust Bank. SunTrust does not fund federal loans through the Astrive Student Loan Program. 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. Astrive is a federally registered trademark of The First Marblehead Corporation, used by Union Federal Savings Bank and SunTrust under a license. SunTrust is a federally registered service mark of SunTrust Banks, Inc.
Union Federal Savings Bank and The First Marblehead Corporation are not affiliates or subsidiaries of SunTrust Bank.
1 Borrowers may choose to defer repayment until six months after graduation or ceasing to be enrolled at least half-time in school. A total of 96 months of deferment is offered (60 months on Undergraduate Loans plus 36 months on Graduate Loans), as long as the student remains enrolled at least half-time. Interest will accrue during any period of deferment and will be capitalized (added to the loan balance) at the time of repayment.
