Understanding whether Chase Bank offers Student Loans is important for individuals exploring their education financing options, including federal student loans, private student loans, and related services such as refinancing or consolidation; this guide provides detailed, up-to-date information on Chase Bank’s current position and available alternatives for student loan borrowers.
Who This Loan Is For
Chase Bank no longer provides student loans, so students, parents, or graduates seeking education loans must consider other lenders or federal programs.
Eligibility to borrow for school now depends on meeting criteria for federal student loans through the Federal Student Aid homepage or qualifying with private banks and credit unions that still participate in student lending.
Key Facts (At-a-Glance)
Item
Details
Program Type
Chase Bank discontinued student loans; private and federal lenders remain available.
Interest
Not applicable—Chase does not offer new student loans. Federal loans have fixed rates; private lenders may offer fixed or variable rates.
Accrual
No Chase student loan accrual. For others: Subsidized loans have interest covered in school; unsubsidized and private loans accrue throughout.
Repayment Plans
Chase loans no longer in portfolio. Federal loans offer Standard, Graduated, Extended, and income-driven repayment; private lender offerings vary.
Grace Period
Chase Bank does not set grace periods. Federal loans generally grant a 6-month period; check with current lenders for terms.
Deferment/Forbearance
Not available through Chase. Federal and private options vary; review offerings for temporary relief details.
Forgiveness/Discharge
No Chase-specific programs. Federal: teacher, public service, disability, or school closure pathways.
Annual & Aggregate Limits
Not set by Chase. See federal or private lender policies for sample/illustrative limits.
Fees
Chase does not charge origination or other loan fees. Federal and private fees labeled “sample/illustrative”, confirm with lender.
Cosigner Rules (Private)
Not relevant for Chase. Most private lenders require a cosigner for undergraduates, with release options varying.
Pros
As Chase Bank does not offer student loans, borrowers must rely on federal loans with strong protections—predictable rates, income-driven repayment (IDR), and formal forgiveness possibilities.
Federal Direct Loans and select private lenders provide options to fit various academic, credit, and financial profiles.
Cons
No student lending relationship can be established or continued with Chase Bank; if you had a prior Chase student loan, management now falls under a third-party servicer.
Fewer options for borrowers seeking to consolidate all banking and borrowing services within a single large institution like Chase.
Costs, Interest & Repayment Mechanics
Interest rates and costs for student loans come from other lenders. Federal student loan rates are fixed; private lenders offer both fixed and variable rates based on credit history and loan type.
Interest capitalization increases costs whenever repayments are paused and unpaid interest is added to the principal.
Income-driven repayment (IDR) plans for federal loans calculate payments as a percentage of discretionary income, with forgiveness possible after a defined period. Details vary—review the official IDR plan guidance.
Private lenders’ payment structures vary by program and underwriting. Carefully compare repayment terms and total cost when shopping for a lender.
Example
Principal
Rate/APR
Plan
Monthly Payment
Total Paid
Sample Scenario
sample/illustrative ($20,000)
sample/illustrative (6.00% fixed)
Standard 10-year fixed
sample/illustrative ($222/month)
sample/illustrative ($26,645)
Application & Disbursement Steps
For federal student loans, start with the official FAFSA application annually and work with your school’s financial aid office.
Private loans require a separate online application and credit check; select a lender that currently offers education loans.
After lender approval and school certification, loan funds are disbursed to your institution to cover qualified expenses; any excess may be refunded to you for living costs.
Repayment, Deferment & Forbearance
Federal loan repayment starts after the grace period, typically six months post-graduation or after dropping below half-time status.
Private loan repayment rules, deferment, and forbearance policies vary. It is essential to check your lender’s official terms, since rules and options can change.
Deferment typically requires in-school, economic hardship, or military service; forbearance is generally granted for brief financial difficulties but may capitalize unpaid interest.
Forgiveness & Discharge Pathways
Only federal loans are eligible for most forgiveness or discharge programs: Public Service Loan Forgiveness (PSLF), Teacher Loan Forgiveness, Total and Permanent Disability Discharge, and borrower defense for closed schools.
Private loans typically do not provide formal forgiveness pathways.
Vary widely by lender; generally fewer protections
Forgiveness Potential
Public service, IDR endpoint, teacher, and disability
Rare; usually case-by-case, if at all
Frequently Asked Questions
Does Chase Bank currently offer student loans?
No, Chase Bank stopped offering student loans in 2013 and does not provide refinancing or new loans for education financing.
What happened to existing Chase student loans?
Most existing Chase student loans were transferred to other loan servicers. Borrowers should have received information about their new loan servicer; contact your current servicer or check your credit report for details.
Can I refinance my student loans through Chase Bank?
No, Chase does not participate in student loan refinancing or consolidation markets. Borrowers must look to other banks, credit unions, or specialized lenders for these services.
Which banks still provide private student loans?
Several national banks and private lenders continue to offer student loans. Typical examples include Sallie Mae, Citizens Bank, Discover, and various state-based agencies. Check each lender’s official website for program terms and eligibility criteria.
How do I find out if my lender is federally approved?
Federal student loans are only available through the Department of Education’s processes, starting with the FAFSA. Review the Federal Student Aid homepage for up-to-date information on approved programs and servicers.
What are the key differences between federal and private student loans?
Federal loans offer fixed interest rates, income-driven repayment, and multiple forgiveness/relief options. Private loans’ terms depend on creditworthiness and lender policies, typically with less flexibility and fewer borrower protections.
What should students do if they want to avoid high student loan debt?
Prioritize federal loans, maximize grants and scholarships, consider institutional/state aid, and borrow only what is necessary based on a clear budget. Always check the terms and conditions of any loan you consider.
Conclusion & Next Steps
Chase Bank no longer offers new student loans or refinancing products.
Borrowers should explore federal student loan programs as the first option and compare reputable private lenders for additional funding if needed.
For personal budgeting and understanding loan repayment obligations, consult official financial wellness resources and use verified cost calculators offered by schools and government agencies.
Remember, terms and availability of loan programs can change, so review all official sources before making any decisions about education debt.
