Chase Bank Student Loans

Studying With Chase Bank Student Loans

One essential part of gathering funds for your education is comparing different financial institutions, and comparing their service both in regards to private loans and to whether you prefer a direct federal loan from the Department of Education or a privately-funded federal loan (FFEL loan). You can get federal loans and private loans for all stages of your education through Chase Bank student loans.

Federal loans are available either directly from the Department of Education or from private sources including banks and credit unions. The basic rules for Stafford loans are the same. The interest rate must be fixed, the maximum rate being 6.8%, and loan payment can be deferred until the student drops below half time enrollment or finishes school. If you meet need-based eligibility requirements, your Stafford loan can be subsidized by the government, meaning the interest will be paid while you are at school, rather than being capitalized if deferred.

Federal PLUS loans have the advantage of allowing eligible borrowers to fund the remainder of the cost of their education, after any other student aid and Stafford loans. This loan, unlike the Stafford loan, requires borrowers to meet credit requirements or to sign with an eligible cosigner. Only parents and graduate students can apply for a PLUS loan. Federal loan programs also include loan consolidation; consolidated loans can include both federal and private loans.

Chase offers extensive assistance through the federal loan process, going through the process with you and taking care of the paperwork. They offer a .10% lower fixed interest rate than the Department of Education as an extra incentive. The Stafford loan has a 6.8% interest rate with a direct loan and 6.7% with Chase, whereas PLUS loans have an 8.5% interest rate and 8.4% with Chase Bank. Chase does not charge origination or default fees.

Additional educational expenses can be covered by private student loans. These loans are versatile, with loans available of up to $40,000 to cover what your student aid and federal loans do not. Chase Select loans can cover your entire cost of attendance, or if you only need to make up the difference with a small loan, they can offer a loan amount as low as $500.

Chase has a program specifically designed for the long, expensive process of studying to become a health professional. The Chase Health Education Program can help you get the funding you need from graduate school through your residency.

Chase Bank student loans offer competitive rates on federal loans, and have representatives who can answer your questions conveniently, whether you prefer to consult them online or by phone.