Custom Choice Review

Custom Choice has been offering loans to students since July of 2020. Previously the company was a partnership between Cognition Financial and SunTrust Bank. When SunTrust Bank got out of the student loan game, Cognition Financial partnered up with Citizens Bank to create Custom Choice. So even though Custom Choice is a new name, they do have a proven history of providing student loans under other names.

At a Glance

Applying for a loan through Custom Choice is a simple process. Once you head to the website, you’ll be prompted to start the application process. From there, you’ll be asked to answer questions, including:

What to Expect

Custom Choice offers both fixed-rate and variable-rate student loans. Variable rates can range from 1.24% to 9.73% APR. If you choose a fixed-rate loan, you’re looking at a range of 4.26% to 10.74% APR. The final rate depends on several factors, including your credit history, your co-signer, the amount of loan you are requesting, and your repayment schedule.

In terms of the loan itself, the minimum loan amount offered by Custom Choice is $1,000. However, you can get a loan up to $99,999. When it comes to terms, you can pay back your loan in 7, 10, or 15 years. You also have the option for a graduate or business school loan, which can be paid back in 7 or 10 years.

They offer several repayment options. Your in-school payment options include:

Once you have graduated, there are other repayment options to consider, including:

You need a minimum credit score of 625 to qualify for a loan, and you’ll need to demonstrate some kind of income, although there’s no specific minimum for how much you need to be earning. You can even potentially qualify if you’ve filed for bankruptcy, but not if it’s been within the last 10 years.

Pros and Cons

Although Custom Choice does have some outstanding options for student loans, they may not be suited for everyone. With that in mind, let’s take a look at the pros and cons of choosing Custom Choice for your student loans.




There are no fees associated with applying for a loan from Custom Choice. That includes loan application fees, origination fees, or even late fees. The company offers an autopay discount, plus a 2% reduction to your remaining balance once you prove that you’ve graduated from your program. As a bonus, the company also has a monthly scholarship sweepstake where you can win up to $1,500.

The Bottom Line

If you’re interested in getting a student loan that comes with added benefits, then Custom Choice is well worth considering. The application process is quick and easy, plus the reduction of the principle upon graduation is a perk that makes the company stand out from the crowd. Custom Choice offers competitive interest rates and flexible loan terms, so you can get the most out of your student loan.