A Chase Private Student Loan is a credit-based loan that can be used for any qualified
education-related expense. A Chase Private Student Loan may be just the solution
you're looking for when it comes to financing college. Our competitive interest
rates and convenient application process give you a fast, easy way to get the loans
you need. As the loan is credit-based, you cannot be turned down for making too
much money or having other financial aid. As a leader in education financing, Chase
offers one of the most competitive private student loan programs in the country,
designed with your needs in mind.
Keep in mind, as you determine the best way to finance your education, you should
consider the full range of student financial aid options available to you. Private
loans are used to supplement federal student loans, when federal loans, grants and
other forms of financial aid are not sufficient to cover the full cost of education.
You can be eligible for an Undergraduate / Graduate Private Student Loan if you
are:
- An undergraduate or graduate student 18 years of age or older (19 in Nebraska and
Alabama, 21 in Mississippi and Puerto Rico) in a degree or certificate program
- Enrolled at least half-time as determined by your school
- Attending a Chase-approved school
- Meeting the guidelines below (a co-signer is typically necessary for undergraduate
students to qualify, but is not required to apply):
- You and/or your co-signer, if any, are creditworthy.
- You must be a U.S. citizen or permanent
No. There are no application fees for this private loan.
The annual minimum loan amount is $1,000. The annual maximum borrowing limit is
the lesser of $40,000 or the estimated annual cost of education, up to a lifetime
aggregate of $150,000.1
A Chase Private Student Loan is an ideal way to supplement federal loans. It provides
the loans you need for college or graduate school and any education-related expenses,
such as tuition, books, housing and more. Loan funds can even be applied toward
a new personal computer for school use. The loan may also be used to cover previous
school fees.
Repayment varies depending on the loan type and whether you're an undergraduate,
graduate, or continuing education student.
Undergraduate students:
- For immediate repayment loans, payment of principal and interest begins approximately
45 days after the last disbursement
- For loans with deferred principal and interest, repayment of principal and interest
begins six months after graduation (or if student ceases to be enrolled at least
half-time prior to graduation, repayment of principal and interest begins six months
after that event)
- For loans with deferred principal payments, interest payments begin approximately
45 days after the loan's first disbursement and payments of principal and interest
begin approximately 45 days after graduation (or if a student ceases to be enrolled
at least half-time prior to graduation, repayment principal and interest begins
approximately 45 days after that event)
- $25 minimum monthly payment (See repayment examples)
Graduate students:
- Repayment of principal and interest begins 6 months after graduation (or if the
student ceases to be enrolled at least half-time prior to graduation, repayment
of principal and interest begins 6 months after that event).
- $25 minimum monthly payment (See repayment examples)
Continuing Education students:
- Repayment of principal and interest begins 6 months after graduation (or if the
student ceases to be enrolled at least half-time prior to graduation, repayment
of principal and interest begins 6 months after that event).
- $25 minimum monthly payment (See repayment examples)
Once the payment due date is established, the date cannot be changed. However, you
have the option to make a payment at any time before the due date.
You may prepay all or any portion of your loan at any time without penalty. Prepayment
can significantly reduce the total amount of interest paid over the life of the
loan.
No. You can repay your Chase Private Student Loan early without a penalty or fee.
Deferment options differ depending upon the student's status.
For undergraduate students: (See repayment examples)
- Pay principal and interest while in school
The deferment end date will be the disbursement date.
- Pay interest only while in school
The deferment end date will be the disbursement date. Interest payments will begin
no more than 60 days after the disbursement date. You start making principal and
interest payments six months after you have graduated or are no longer enrolled
at least half time in a participating school. You must begin making principal and
interest payments no later than five and a half years after the disbursement date.
- Defer principal and interest while in school
The deferment end date will be six months after graduation or when you are no longer
enrolled at least half time in a participating school. You must begin making principal
and interest payments no later than five and a half years after the disbursement
date.
For graduate students: (See repayment example)
- The deferment end date will be six months after graduation or when you are no longer
enrolled at least half time in a participating school. The deferment end date will
be no longer the five and a half years after the disbursement date. If you begin
a medical residency or internship during the deferment period, the deferment end
date will be nine months after the date the residency or internship ends. You must
submit a written request and receive approval before the deferment end date reflects
this change. You must begin making principal and interest payments no later than
10 and a half years after the disbursement date.
For continuing education students: (See repayment
example)
- The deferment end date will be the earlier of these dates:
- either six months after the end of the current academic period, or
- six months after the date you are no longer enrolled in a continuing education program.
You can
apply online for a Chase Private Student Loan right now. Or, contact a Chase
loan consultant toll-free at the number listed at the top of this page.
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