Chase is pleased to continue offering the KeystoneBEST Stafford loan program in conjunction with American Educational Services (AES) for the 2008-2009 academic year. The KeystoneBEST program makes loans more affordable to Pennsylvania residents attending qualified participating schools and out-of-state residents attending qualified participating Pennsylvania schools.
Stafford Loan
|
Chase KeystoneBEST Benefits for Federal Stafford Loans For loans guaranteed with loan periods beginning on or after
To be eligible for this program, a borrower must either have permanent residence in the state of Pennsylvania and attend a qualified participating school, or attend a qualified participating school located within the state of Pennsylvania. Loans must be originated and serviced at American Education Services and be guaranteed by the by the Pennsylvania Higher Education Assistance Agency.
|
PLUS and Grad PLUS Loans
| Chase KeystoneBEST Benefits for Federal PLUS and Grad PLUS
Loans
For loans guaranteed with loan periods beginning on or after
To be eligible for this program, a borrower must either have permanent residence in the state of Pennsylvania and attend a qualified participating school, or attend a qualified participating school located within the state of Pennsylvania. Loans must be originated and serviced at American Education Services and be guaranteed by the by the Pennsylvania Higher Education Assistance Agency. |
Chase SelectSM Loan
Chase Select makes financing your education affordable and easy. If federal loans and other aid don’t cover your cost of education, a Chase Select loan can help. Chase Select is a school-certified private education loan for undergraduate and graduate students. It comes with several borrower benefits to save you money. Borrower benefits include:**
Repayment Example: This example assumes a student borrowed $10,000 in a single disbursement and qualified for an interest rate of Prime minus 1.00%, equal to 5.00% and 0% origination fee. All payments are fully deferred for 54 months, no origination fees, accrued interest capitalized at repayment, a repayment period of 240 months and the variable interest rate maintained at a constant rate of 5.00%, based on a Prime Rate of 6.00%. In this example, the student would make 240 payments of $80.84. The combined APR would be 4.83%. The interest rate and APR are based on Prime and are adjusted quarterly. The interest rate and APR may increase or decrease over time as the prime rate adjusts. The total finance charge in this example is $9,402.70. Rates as of April 1, 2008. |
* Important Information: For loans that are guaranteed on or after June 1, 2008, the 0.25% interest rate reduction is available to borrowers in repayment who elect to have their monthly payments automatically deducted from a bank account by Chase. This interest rate reduction will begin when the borrower enrolls and begins having payments automatically deducted by Chase and will remain in effect as long as automatic payments continue without interruption. The reduced interest rate will return to the non-discounted rate if automatic payments are canceled, rejected or returned for any reason or during periods of deferment or forbearance. The 0.25% interest rate reduction will not lower the monthly payment amount but instead will reduce the interest that accrues, thereby reducing the total amount repaid and the time in which the loan is repaid. Chase may sell these loans to the U.S. Department of Education, and the U.S. Department of Education may continue to honor this automatic payment interest rate reduction. Visit ChaseStudentLoans.com/rates for current interest rates. Generally, Stafford, PLUS and Grad PLUS borrowers have up to 10 years to repay their loans. New borrowers after October 7, 1998, whose total outstanding principal and interest in Federal Family Education Loan Program (FFELP) loans exceeds $30,000, may repay on a level or graduated repayment plan for a period that may not exceed 25 years. There are no penalties for early repayment of FFELP loans. Contact Chase to learn more about repayment term options. Terms and conditions apply. Benefit programs are subject to change. Loans are subject to submission of a completed application, credit approval and other required documentation and verification, as applicable. This information was correct as of 06/01/08.
** 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, like the Chase Select loan, can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of education. Chase Select loans are subject to credit approval, receipt of a completed and signed Application/Promissory Note, verification of application information and school certification of student’s enrollment at a participating school. Chase services its Chase Select loans and does not sell them to another lender. Borrower benefits are for the 2008-2009 academic year and are subject to change. The rate reduction for automatic payments will begin when the borrower enrolls with the lender to have monthly payments automatically deducted from an eligible deposit account and will remain in effect as long as automatic payments continue without interruption. The reduced interest rate may return to the non-discounted rate if automatic payments are cancelled, rejected or returned for any reason. Loans to pay previous school fees are limited to the amount owed the school. Repayment plans vary with enrollment status and loan type.
†A limited number of borrowers will not qualify for this offer and may be approved with up to a 5.00% origination fee.
††To qualify for the cosigner discount, the borrower must be approved with a cosigner who meets established credit criteria. Some borrowers may be approved with cosigners who do not meet this standard and therefore will not receive the discount.