Chase Student Loans

About Chase Bank
JPMorgan Chase Bank, N.A., commonly known as Chase Bank, is one of the leading commercial consumer banks of the United States. Established in 1799, the bank has a history of providing innovative financial services to its customers and is a benchmark for other banks. With over 5,000 branches and around 16,000 ATMs, Chase Bank is one of the “Big Four” banks of the nation.

Chase Student Loans Eligibility
Chase Bank is a leader in providing private student loans to students who wish to pursue higher education. These are school-certified loans which mean that schools will review and certify your Chase student loan application and then the funds are sent directly to the school. However, these loans are only available to Chase customers. The program also provides loans for graduate studies particularly related to health care professions.

Since Chase student loans are available only to Chase customers, either the borrower himself/herself or their cosigner should have an existing loan relationship or an account with Chase. Savings, checking and deposit accounts along with a credit card account and a current loan account are considered as qualifying accounts. The existing loan account may also include a previously taken Chase student loan.

Chase Student Loans Repayment
Three repayment options are available to students who have taken out a Chase student loan. These are discussed in detail below:

Immediate Repayment
In this plan, the student starts making interest and principal payments while still in school. This saves a lot of money in accumulated interest.

Interest-only Repayment
Students who choose this repayment plan pay off their interest while in school and the principal amount and capitalized interest after they finish school.

Deferred Repayment
This plan is often chosen by students who cannot afford to pay off their loan amount while still studying. Principal and interest amounts are paid off after completion of studies. The total amount of interest that a student pays off under this plan is higher than both the other options.

Final Verdict
Chase Student Loans can provide you with ample financial aid to help you meet your educational expenses. However, it is advised to obtain as much federal aid before you choose to apply for these or any other private student loan. You can easily search for and compare Chase student loans and loans from other lenders by using our Student Loan Comparison Tool.