Federal Student Loans
The federal government is the largest source of funding for college, which includes federal student loans. A federal student loan can have a lower interest rate and more time to repay. Additional benefits include discounts on federal student loan interest rates.
Why choose your federal student loans from Chase?
Chase Student Loans is one of the nation's leading providers of federal student loans. You'll be doing business with a company that has helped thousands of people with federal student loans, which means assistance from a knowledgeable team of school loan experts. They can help you make financial decisions about your federal student loans and more.
The application process for a Chase student loan is quick, easy and secure.
Federal Student Loans options:
The Federal Family Education Loan Program (FFELP) is government-sponsored and makes federal student loans available to students and parents.
While you're in school, there are primarily two kinds of federal student loans available: the Federal Stafford Loan and the Federal PLUS Loan.
Federal Stafford Loan
Most students, regardless of financial need, are eligible for Federal Stafford Loans. The amount you can borrow depends on your year in school and your dependency status.
You won't be required to make payments while you're attending school at least half time. Once you graduate or leave school, there is a six-month grace period when no payment is due. In some cases, payments can be delayed or deferred because of graduate school or military service.
Federal PLUS Loan
Parents of dependent undergraduate students who are enrolled at least half time can receive the Federal PLUS Loan on behalf of their student. The Federal PLUS Loan is a low-interest student loan that can be used to fund the entire cost of education, minus other financial aid. Parents may qualify for a PLUS loan even if they aren't eligible for other federal student loans.
Once the loan is fully disbursed, payment is due within 60 days. Payments can be delayed if the student is still in school.
Grad PLUS Loan
Graduate and professional students can fund the entire cost of their education, minus other financial aid, with a Grad PLUS Loan. This type of federal student loan complements the Federal Stafford Loan and helps with the cost of graduate school. You may qualify for a Grad PLUS Loan even if you aren't eligible for other federal student loans.
Once the loan is fully disbursed, payment is due within 60 days. Payments can be delayed if you are still in school.
Before you apply for a student loan, fill out the Free Application for Federal Student Aid - FAFSA
You'll need to complete the Free Application for Federal Student Aid before you can apply for federal student loans. The U.S. Department of Education uses this information to determine your financial need. You can download a copy, as well as complete the FAFSA online. Once you receive your award letter, you'll be able to determine the amount of the loan you may need from Chase Student Loans.
Federal and Private Student Loans. What's the Difference?
You should always plan to look for federal student loan options before investigating private student loan sources, because these student loans are sometimes more difficult to obtain and can often end up being very costly to you in the end. Private student loans are designed to supplement federal student loan programs and are available from schools, banks and education loan organizations.
*Important Information:
As students determine the best way to finance their education, their should consider the full range of student financial aid options available. Private loans, like the Chase Private Student 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 services its Private Student Loans and does not sell them to another lender.
Chase Private Student Loans are subject to credit approval, receipt of a completed and signed Application/Promissory Note, verification of application information and verification of student's enrollment at a participating school.
When payments are deferred, interest will continue to accrue and will be capitalized upon repayment. Other payment options will reduce the total amount owed.
Loans to pay previous school fees require a current school bill dated within the last 60 days and are limited to the amount owed the school.
You are eligible for our Federal Consolidation Loan so long as, at the time of funding, you: (1) are in your loan grace period or have entered repayment on each loan chosen for consolidation; and (2) consolidate eligible federal student loan debt meeting Chase’ minimum balance requirement. Other terms and conditions also apply. Please contact us for details on eligibility criteria.
