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Borrowing money for college is a big responsibility, so it's important to understand all of your options.* You should always search for scholarships and grants before you consider student loans. Once you've exhausted scholarships and grants, you should consider federal student loans before considering private loans.

Federal student loans

(Chase no longer offers federal student loans)

Federal student loans are available to students and parents to help pay for college. They have low fixed interest rates and may include federally subsidized interest. Additionally, they have many flexible repayment and deferment options. Federal student loans are now available solely from the U.S. Department of Education's Direct Loan program.

In order to apply for federal student aid, you must first fill out the Free Application for Federal Student Aid (FAFSA). After your FAFSA is processed, your school will review the results and tell you the amount and types of financial aid you are eligible to receive.

Types of federal student loans include:

  • Federal Direct Subsidized Stafford Loans
  • Federal Direct Unsubsidized Stafford Loans
  • Federal Direct PLUS loans (for parents and graduate or professional students)
  • Federal Direct Consolidation Loans
  • Federal Perkins Loan
For more information about federal student loans:

  • Contact your school's financial aid office
  • Visit www.studentaid.ed.gov *, the U.S. Department of Education's website about funding education beyond high school
  • Fill out the FAFSA at www.fafsa.ed.gov *

Chase does not offer federal student loans.

*Important Information: As students determine the best way to finance their education, they should consider the full range of student financial aid options available. Private loans can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of attendance.

* This is a link to a third-party site as described in our Weblinking Practices. Note that the third party's privacy policy and security practices may differ from Chase standards. Chase assumes no responsibility nor does it control, endorse or guarantee any aspect of your use of the linked site.

This information was current as of 06/30/2010 and is subject to change. Contact Chase for the most up-to-date terms.


 

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