Attending college is still one of the best ways to prepare for a career, increase one’s knowledge and skills, and potentially qualify for higher pay. The decision to go to college is an important one, and choosing the right student loan can be an equally important decision.
When federal loan and student grant options are exhausted it may sometimes become necessary to apply for a private student loan. With a Chase Private Student Loan a student may pay for books, tuition, even a needed laptop computer.
Chase Private Student Loans supplement federal loans and grants and can provide critical financial assistance when these other options are no longer available. In addition, a Chase Private Student Loan may cover expenses not covered by these other traditional funding sources.
Chase Private Student Loans may be up to $40,000 a year and can be used for any education related expense. This includes tuition, room and board, supplies, and even transportation. No student aid forms are required to apply, and the rates are competitive.
A cosigner is not necessary, but may result in getting a lower rate and improve the chances of loan approval. Chase Private Student Loans allow the release of a cosigner after graduation.
To be eligible to apply for a Chase Private Student Loan the borrower must be an undergraduate student enrolled at least half time. If the borrower is enrolled less than half time Chase offers continuing education loans as well. Further, in order to qualify at least one applicant must be credit worthy.
Chase’s competitive terms allow the borrower to defer payments until after graduation. There are three deferment options:
* Defer principal and interest
This allows the borrower to pay nothing until after graduation. Both the principal and interest on the loan are deferred. The drawback is that interest is compounding the entire time the student is in school deferring the loan.
* Defer Principal
In this option the borrower is paying only the interest on the loan. This allows the borrower to avoid having the interest compound against the student while in school.
* Immediate repayment
This is not really a “deferment” option at all. Doing this will start the full payments immediately; the student will pay both principal and interest payments while in school.
Chase offers private student loans that have competitive rates and terms and several deferment options. Choosing a Chase Private Student Loan maybe an excellent way to supplement funds for college, allowing a student to work toward a fulfilling and supportive career.