AAA Advantage Loan

<sub>Before applying for a private student loan, AAA Northeast Bank and SunTrust recommend comparing all financial aid alternatives including scholarships, grants, and both federal and private student loans.

¹ 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. Rates and terms are effective for applications received on or after 12/01/2019. The variable interest rate for each calendar month is calculated by adding the current index (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 25^th 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 1.75% on 12/01/2019. The variable interest rate will increase or decrease if the One-month LIBOR index changes or if a new index is chosen. The applicable index or margin for variable rate loans may change over time and result in a different APR than shown. 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.</sub>
 

<sub>² APRs assume a $10,000 loan with two-disbursements.  The high APRs assume a 15-year term with deferred principal payments. The low APRs assume a 7-year term, no deferment and payments beginning 30-60 days after the last disbursement via auto pay from a SunTrust Bank account. Auto pay from a SunTrust Bank checking, savings, or money market account yields a 0.50% interest rate reduction which is applied after the Servicer validates your bank account information. See footnote 7 below for auto pay details. 

³ The 3% principal reduction is based on the total dollar amount of all disbursements made, excluding any amounts that are reduced, canceled, or returned. To receive this principal reduction, it must be requested from the servicer, the student borrower must have earned a bachelor’s degree or higher, proof of such graduation (e.g. copy of diploma, final transcript, or letter on school letterhead) must be provided to the servicer and proof of the borrower’s or cosigner’s current AAA membership must be provided to the servicer. This reward is available once during the life of the loan, regardless of whether the student borrower receives more than one degree.

⁴ 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: $5,201, 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).

⁵ The 15-year term is only available for loan amounts of $5,000 or more.  Payment examples (all assume a 45-month deferment period, a six month grace period before entering repayment, no rate reduction for auto pay and the Partial Interest Repayment option): 7 year term: $10,000 loan disbursed over two transactions with a 7-year repayment term (84 months), and a 7.553% APR would result in a monthly principal and interest payment of $186.60. 10-year term: $10,000 loan disbursed over two transactions with a 10-year repayment term (120 months) and a 8.014% APR would result in a monthly principal and interest payment of $150.41. 15-year term: $10,000 loan disbursed over two transactions with a 15-year repayment term (180 months) and a 8.488% APR would result in a monthly principal and interest payment of $124.45.</sub>

_{⁶ 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) is available on loans of $5,000 or more. Making interest only or partial interest payments during in-school deferment (including the grace period) will not reduce the principal balance of the loan. See footnote 5 for payment examples. 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.}

_{⁷ Earn an interest rate reduction for making automatic payments of principal and interest from a bank account (“auto pay discount”) by completing the direct debit form provided by the Servicer. 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 be applied after the Servicer validates your bank account information and will continue until (1) three automatic deductions are returned for insufficient funds during the life of the loan (after which the discount cannot be reinstated) or (2) automatic deduction of payments is stopped (including during any deferment or forbearance, even if payments are made). In addition, the extra 0.25% interest rate reduction for auto pay from a SunTrust Bank checking, savings or money market account will be discontinued if automatic payments are no longer made from one of the aforementioned SunTrust Bank accounts. In the event the auto pay discount is discontinued, the loan will accrue interest at the rate stated in your Credit Agreement.}

_{⁸ 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.}
 

_{⁹ 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.}

_{¹⁰ 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 in a past due status. 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”.}

_{¹¹ 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).}
 

_{All advertised rates are current as of the date displayed and are subject to change without notice. All loans are subject to the lender’s receipt and approval of a completed loan application.}

_{© 2019 SunTrust Banks, Inc. SUNTRUST is a trademark of SunTrust Banks, Inc. All rights reserved.}

_{The creditor for this program is SunTrust Bank. Certain restrictions and limitations may apply.  SunTrust Bank reserves the right to change or discontinue this AAA Advantage Student Loan program without notice. Availability of 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 AAA Advantage 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.}