Private student loans

Chase private student loans

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

Most private student loans are in the student's name, which allows the student to start building their credit. Although a cosigner is not necessary or required to apply for a private student loan, a qualified cosigner may help a student get approved for a private student loan. A cosigner can be any eligible adult, such as a parent, relative or friend. 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, grants and other forms of financial 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 Specialists. They can help you make financial decisions about your private student loans and more.

The application process for a Chase private student loan is secure.

Learn more about Chase private student loans.

Advantages of private student loans

There are many advantages of a private student loan, including delayed repayment until after leaving school with an in-school deferment. With a school-certified private student loan, the funds can be sent directly to the school. Private student loans that require school certification help ensure that you’re borrowing only the money you need for college. You should always be conservative and borrow wisely.

Note: Interest continues to accrue during in-school deferment and will be added to the principal amount of your loan upon entering repayment, which will increase the total amount paid for the loan.

What does it cover?

A private student loan can be used for qualified education expenses as a way to supplement federal loans, grants and other forms of financial aid. For example, you can use it to cover tuition and living expenses. Other expenses like a computer and transportation may also be covered.

*Important Information: 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 attendance.

Chase does not sell its private student loans to another lender.

Chase private student loans are subject to credit approval, receipt of a completed and signed loan application/promissory note and self-certification form, verification of application information, acceptance of loan terms, and school certification of loan amount and student’s enrollment at a Chase-participating school.

This information was current as of 06/30/2010 and is subject to change. Contact Chase for the most up-to-date terms.