Current Interest Rates

The following information is designed to help you to better understand the interest rates associated with federal and private student loans offered by Chase.

Federal Loans

Interest rates on variable federal student loans are set by Congress. For loans issued between July 1, 1998 and June 30, 2006, the rates are variable and change each July 1 based on a formula related to short-term Treasury securities. These Stafford loans are capped at 8.25 percent, and parent PLUS loans may not exceed 9.00 percent. Interest rates on new federal student loans first disbursed on or after July 1, 2006 have a fixed interest rate.

The variable federal student loan interest rates have been set for 2008-2009.

Effective July 1, 2008, through June 30, 2009, the new rates for variable student loans are as follows for loans that were first disbursed between July 1, 1998, and June 30, 2006:

Federal Stafford Loan Rates

Federal PLUS Loan Rate

The rates for loans disbursed on or after July 1, 2008 will be a fixed rate as follows:

Federal Stafford Loan Rates (undergraduate subsidized)

Federal Stafford Loan Rates (undergraduate unsubsidized and graduate)

Federal PLUS Rate

Private Loans

Our private loans are based on the Prime Rate and the London Interbank Offered Rate (LIBOR). The LIBOR rate is adjusted quarterly for Chase Private Student Loans. The Prime Rate is adjusted quarterly for Chase Select.

School Certified Private Loans

Chase Select is a school certified loan product. This means your school must offer this loan product for you to be eligible to receive it and it also requires school certification.

* The "Variable Rate" is equal to the Current Index plus or minus a Margin. The Variable Rate will change quarterly on the first day of January, April, July and October (the "Change Date(s)") if the Current Index changes. The "Current Index" for any calendar quarter beginning on a Change Date (or for any shorter period beginning on the Disbursement Date and ending on the last day of a calendar quarter) is based on the Prime Rate as published in the "Money Rates" section of The Wall Street Journal on the first day of the preceding month (round to the nearest one-hundredth percent 0.01%).

Non-Certified Private Loans

Chase Private Student Loans are private loans that are not certified by the school and can be used for any education-related expense - including a computer or previous school fees.

The variable interest rate for Chase Private Student Loans is adjusted quarterly based on the Prime Rate published in The Wall Street Journal on the first business day of the month immediately preceding each adjustment date. The margin can be 4.5% to 10.5% (APRs range from 8.30% to 14.50%) and is based on school type and borrower and cosigner (if applicable) credit history. Using a qualified cosigner may reduce the interest rate by 0.50% from the student-only rates.