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:
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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
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Enrolled at least half-time as determined by your school
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Attending a Chase-approved school
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Meeting the guidelines below (a co-signer is typically necessary for
undergraduate students to qualify, but is not required to apply):
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You and/or your co-signer, if any, are creditworthy.
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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)
-
Defer Principal and Interest
Make no payments for up to four years while continuously enrolled in school at
least half-time (five years if enrolled in 5-year degree program). Repayment of
principal and interest then begins within 180 days after graduation or
withdrawal from school.
-
Immediate Interest Only (Defer Principal)
Pay only interest for up to four years while continuously enrolled in school at
least half-time (five years if enrolled in 5-year degree program). Repayment of
principal and interest then begins within 45 days after graduation or
withdrawal from school.
-
Immediate Repayment of Principal and Interest
Pay principal and interest in a fixed monthly amount beginning within
approximately 45 days after funds are disbursed.
For graduate students: (See
repayment example)
-
Defer Principal and Interest
Up to 4 1/2 years (8 1/2 years in the case of medical students) including grace
period while continuously enrolled in school at least half-time.
-
Medical Students
Request a deferment after graduation for up to four years while completing an
internship or residency, as long as the total deferment does not exceed the
program maximum of 8 1/2 years including grace period.
For continuing education students: (See
repayment example)
-
Principal and interest are automatically deferred
-
Repayment begins the earlier of the dates which are:
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Six months after the student graduates or earns a certificate,
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Six months after the student ceases to be enrolled at the school, or
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Two years after the date of the last loan disbursement
-
If the student is not enrolled in a degree or certificate program, repayment
begins either six months after the end of the academic period to which the loan
relates or six months after the student ceases to be enrolled at the school,
whichever is earlier.
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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