Chase Private Student Loans
About Chase Private Student Loans
Chase is an established student lender, and offers a variety of student loans tailored to meet student borrowing and repayment needs. Chase emphasizes that 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. If students need extra money to cover their college costs, there are several Chase Private Student Loans that they can turn to as a final form of aid.
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Types of Chase Private Student Loans
Chase offers two standard loans: the Chase Select Private Student Loan and the Chase Private Consolidation loan. A Chase Select Loan is a credit-based Chase Private Student Loan that must be certified by a student's financial aid office. A student borrower may be required to complete the Free Application for Federal Student Aid (FAFSA) in order to determine his/her eligibility. Although a cosigner is not necessary or required to apply for a private student loan, a qualified cosigner may help a student borrower get approved for a Chase private student loan, and possibly help a student borrower qualify for a better interest rate. The Chase Select Private Student Loan has a borrowing minimum of $500, with a maximum of the cost of attendance minus any other aid received, pending certification by the school. Loan funds are sent directly to the school, and payments may be deferred while the student is in school. Additionally, this Chase Private Student Loan has no origination or repayment fees, making it a popular option for students.
The Chase Private Consolidation Loan is another main offering from the Chase Private Student Loans program. Chase private student loans consolidation can help students manage their private student loans after college. When a student borrower consolidates, all of his/her eligible student loans are combined into one single loan. This means there's only one private student loan payment each month. Federal student loans are not eligible for this Chase Private Consolidation Loan program.
Frequently Asked Questions
Q:What are the benefits of consolidated Chase School loans?
A:Consolidated Chase School loans offer students the benefit of paying one consolidated repayment amount after graduation instead of several different repayment amounts and at different times. Students can also benefit from a lowered interest rate at the time of consolidation. Consolidating Chase school loans saves students the hassle of keeping track of various repayment amounts and deadlines. Remember, the Chase consolidation loan program allows only private loan consolidations, meaning students cannot consolidate their federal borrowings with this loan.
Q:What are the requirements for Chase Education loans?
A:To receive Chase Education loans, a student must be enrolled at least part-time in an accredited degree-granting program at a Chase-Select participating school. Chase Education loans require students to have a good credit history and/or a cosigner. While a co-signer is not firmly required, most students do not have enough of a credit history to be deemed eligible for Chase Education loans without one. Also, a cosigner with a strong credit score can lower the interest rate for the loan. The loan funds are sent not to the individual but to their college or university, and the funds are directly applied to their tuition bill. Any remaining funds from the Chase Education loans will be sent to the student directly. Students can receive loan up to the entire cost of education minus any other loans or scholarships acquired.