Private Student Loans

Chase Private Student Loans

Private student loans, also called alternative loans, can be used to cover most education-related expenses. These loans are a great option when federal loans and other forms of aid aren't enough to pay for the full cost of your education. Because most private student loans are credit-based, families cannot be turned down for making too much money.

private student loans are in the student's name, which allow the student to start building their credit. Unless the student meets certain requirements, an eligible cosigner may be needed for a private student loan. A cosigner can be a parent, relative, spouse, friend or other eligible adult. Interest rates and fees are determined by the lender and usually depend on both the student's and the cosigner's credit score.

Check your federal aid options first

You should exhaust your federal student loan options before investigating private student loans, which can be more costly to you over time. Private student loans are designed to supplement federal loan programs and other aid you receive.*

Why choose a private student loan from Chase?

If you choose Chase, you'll be doing business with a company that has helped thousands of people with college loans, which means assistance from a knowledgeable team of student loan experts. They can help you make financial decisions about your private student loans and more.

The application process for a Chase student loan is quick, easy and secure.

Learn more about Chase Private Student Loans

Advantages of private student loans

There are many advantages of a private student loan, including no financial aid forms necessary, delayed repayment until after leaving school and even in some cases, the funds can be sent directly to the student. Private student loans don't require completion of the Free Application for Federal Student Aid (FAFSA) because they aren't considered federal aid. However, like federal loans, most private student loans can have repayment delayed until after graduation.

In addition, some private student loans don't require school certification, so you decide how much you need for education expenses. You should always be conservative and borrow wisely. When school certification isn't involved, you typically receive the money directly. This can happen within days of final loan processing.

What does it cover?

A private student loan can be used for almost any of your education-related expenses as a way to supplement federal loans and other aid. You can use it to cover tuition and also for room and board - or rent and food if you live off campus. Other expenses like a computer and transportation to and from school can also be included. You can even use private loans for previous school fees.

*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.