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 education.
A Chase Select loan is a credit-based private student loan that must be certified by your school's financial aid office. Your school may require you to complete the Free Application for Federal Student Aid (FAFSA) to determine your loan eligibility. Although a cosigner is not necessary or required to apply for a private student loan, a qualified cosigner may help you get approved for a private student loan and possibly help you qualify for a better interest rate.
Benefits of a Chase Select Private Student Loan include:
In-school deferment repayment option available, which means there are no payments required while in school
No origination or repayment fees
Loans
up to your cost of attendance (minus other aid), but no more than the amount certified by your school
Funds are sent directly to the school
Note: Interest continues to accrue during in-school deferment and will be added to the principal amount of your loan upon entering repayment, which will increase the total cost of the loan.
A Chase Select Private Student Loan can cover qualified education expenses, such as:
Tuition
Living expenses
Books
A computer
*Important Information: 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
loan application/promissory note and self-certification form, verification of application
information, acceptance of loan terms, and school certification of loan amount and
student's enrollment at a Chase Select-participating school.
Repayment plans may vary. Other available repayment options include making interest-only
payments while in school or making principal and interest payments while in school. Maximum deferment period
applies. Call for details.
Chase currently services its Chase Select loans and does not sell them to another lender.
Student borrowers and cosigners are equally responsible for repayment of the loan.
Upon request by the student borrower, cosigners are eligible to be released from
the loan after any 36 consecutive payments of principal and interest are paid on
time. The student borrower must meet Chase's established cosigner release eligibility
requirements at the time of the request for cosigner release. Other terms and conditions
apply. Benefit programs are subject to change.
The minimum loan amount that can be requested under this loan program must be greater than $1,000, except
for student borrowers whose permanent residence is in one of the following states, in which higher minimum
loan amounts apply: Colorado, Indiana, Oklahoma, South Carolina or Wisconsin. If you live in one of these
states, please call us for details.
Aggregate maximum loan limits apply.
This information was current as of 07/01/2011 and is subject to change. Contact
Chase for current product information.
