BOSTON, July 19, 2017 (GLOBE NEWSWIRE) -- Cognition Financial announced today that it has entered into an agreement with SunTrust Bank to extend the term of its Monogram® loan program agreement through February 2020.
Cognition Financial will continue to provide all the same services that it has performed since the Monogram partnership with SunTrust Bank was first launched in 2010, including sales, marketing, loan origination, underwriting and portfolio management.
Daniel Meyers, Chief Executive Officer of Cognition Financial, said, "We’re pleased to sign this agreement with SunTrust Bank, and extend our Monogram partnership to early 2020, nearly a decade after we first launched our joint program. Since its launch in 2010, the SunTrust Monogram loan program has handled more than 300,000 loan applications, with more than $3.5 billion in requested loan volume, and has helped tens of thousands of families finance their education. The credit quality of the portfolio remains remarkably strong and we look forward to working collaboratively with SunTrust Bank to keep growing this business.”
About Cognition Financial
Cognition Financial helps students finance their education through products and services offered directly to students and with national and regional financial institution partners. For more information, please see www.cognitionfinancial.com. Cognition Financial supports responsible lending and is a strong proponent of the smart borrowing principles, which encourage students to access scholarships, grants and federally-guaranteed loans before considering private education loans; please see www.SmartBorrowing.org. Cognition Financial also offers outsourced tuition planning, billing, and payment technology services and refund management services to educational institutions through its subsidiary Tuition Management Systems LLC. For more information, please see www.afford.com.