Considering Suntech Student LoansApplying for that all important first student loan was nerve wracking. I had heard of Suntech student loans before and the school counselor said they were one of the largest loan service providers out there. I definitely felt more comfortable going with a company who has been doing this and doing this well for quite some time. Suntech student loans are comprised mainly of Federal Family Education Loan Program or as they are sometimes called FFELP loans.The different banks and lenders are the ones who provide the loan products, such as the Stafford loan, Parent PLUS loan or Graduate/Professional PLUS loan. Suntech manages or services the loans with their tried and true accounting services. One of the more popular loan products that is available is the Stafford loan program. This program is based on need and is readily available. The Stafford loans are good but generally the amount granted is low. Other programs such as the Plus loan program are credit based and thru this program money can be borrowed by parents, students, as well as graduate students. Because you need to qualify for this product showing income and good credit the amount that can be borrowed will be determined differently then need based loans. Suntech student loans are managed well and over the years Suntech has built up quite the reputation for doing a good job in helping students to receive the money that is required for school and for being great at loan management. They made the application process understandable and helped us to make sure we provided all of the necessary information in order to make the application as complete as possible. When the time comes we will be able to consolidate our Suntech student loans and hopefully obtain a monthly payment that is affordable and that we can live with. The grace period after graduation is nice but for most students they are not ready to pick up a payment yet and for some it will be the parents who carry it for a while. That will most likely be us at that time. The option of consolidating will be helpful for all involved. for now we have learned how to apply, about all of the different government loan programs, private loans, and many other options that are available for our family. |