Private Student Loans: How to Get Better Rates and Faster Approval.

The co-signer advantage
While care packages are great, another way a parent, guardian, or other creditworthy adult can support you at college is to be your co-signer. Even if you’re eligible for a loan on your own, here’s why having a co-signer can make a big difference.

Joint responsibility for repayment
Better chance of approval

Co-signer responsibilities
When a student applies with a co-signer, both parties intend to:
1. Jointly apply for credit
2. Be jointly responsible for repaying the requested loan.
So, if the student doesn't make a payment, the co-signer is responsible for making it.

Use our Family Discussion Guide to talk about financial responsibilities.

What makes a good co-signer?
Most students ask a parent or guardian to co-sign a loan, but any adult can share this responsibility with you if that person:

Has a satisfactory income history for at least two years

Has proof of positive income

Has at least 27 months of credit experience and a satisfactory credit history

Is a U.S. citizen or permanent resident

Help if you're conditionally denied
If you apply for an Astrive Student Loan on your own and are conditionally denied, you can add a creditworthy potential co-signer to your loan within 60 days—you won't have to fill out the entire application again.

Co-signer release
Astrive Student Loan benefits include a co-signer release, which can remove a co-signer's responsibility after time. This benefit is available to borrowers who make their first 48 principal and interest payments on time.¹

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 Co-signers will be eligible for co-signer release upon request if (1) the initial 48 payments of principal and interest are paid on time, and (2) the borrower meets creditworthiness criteria at the time of the release of the co-signer.