Deferred repayment is the most expensive repayment option because interest that accrues during the in-school period is added to the principal balance of the loan at the time of repayment.

The repayment example below applies to students with Chase Select undergraduate, graduate or graduate health professions loans, and is based on a student borrower who is approved with a cosigner, is enrolled in a four year program and received a loan with a single disbursement. This example assumes a $10,000 loan with 20 years of principal and interest payments starting 6 months after the student borrower is no longer enrolled in school, and is for illustrative purposes only.

Variable Rate Student Loan**
Interest Rate Annual
Rate (APR)
Estimated Monthly Payment Amount Estimated Total Amount Paid (over 20 years)
Minimum starting 3.30% 3.23% $65.33 $15,679.32
Maximum starting 8.40% 7.93% $118.25 $28,378.51
Maximum allowable 25.00% 20.79% $440.90 $105,840.07

The Chase Select Private Student Loan's interest rate is based on the three-month London Interbank Offered Rate (LIBOR) Index, which is variable and adjusted quarterly.


*The repayment examples may not reflect your specific interest rate and loan amount. Repayment examples assume that you attend an undergraduate school with a four-year program, have a loan with a single disbursement and that the interest rate stays the same over the life of the loan. The deferred and interest-only examples also assume that you have a six-month grace period before beginning repayment of principal and interest. The interest-only example assumes a 240-month repayment term with 4½ years of interest-only payments and 15½ years of principal and interest payments. A Loan Approval Disclosure Form will be provided to you with your loan details after your application is approved.

**Interest rates are variable and may increase after consummation of the loan, but will not exceed the maximum rate allowed by Ohio state law, which is 25%. The rates used in these examples are based on a margin plus the three-month London Interbank Offered Rate (LIBOR) Index and may vary. The rates will be calculated quarterly on the first day of each January, April, July and October by adding a margin to the three-month LIBOR Index published in the “Money Rates” section of The Wall Street Journal on the fifteenth day of the month prior to each of the months listed above, rounded to the nearest one-hundredth percent (0.01%). If The Wall Street Journal is not published or the three-month LIBOR Index is not given on that date, then the three-month LIBOR Index will be determined by using the immediately preceding publication date. If the Index is no longer available, we will choose a comparable index. Any increase may result in a higher payment amount. Rates may vary depending on the creditworthiness of the borrower and cosigner, if applicable, and other factors.


Important: Private loans, like the Chase Select loan, can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of education. Students are strongly encouraged to exhaust federal loans, scholarships, grants and other financial aid before applying for a private student loan.


Chase Select 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 Select-participating school. Either the student or cosigner applicant must have a qualifying Chase account or loan relationship in order to be eligible for a Chase Select Private Student Loan.

Chase currently services its Chase Select loans and does not sell them to another lender.


Although a cosigner is not necessary or required to apply, a cosigner may increase the likelihood of approval and may result in a better interest rate. For student loans disbursed within the current academic year, the student borrower may request that cosigners be released after 36 consecutive, on-time payments of principal and interest. The student borrower must meet Chase's  minimum credit criteria and other established cosigner release eligibility requirements, in order to establish the capacity to repay the loan on his or her own, at the time of the request for cosigner release. The student borrower is solely responsible for repayment of the loan after the cosigner is released.

The minimum loan amount that can be requested under this loan program must be greater than $1,000, except for student borrowers whose permanent residence is in one of the following states, in which higher minimum loan amounts apply: Colorado, Indiana, Oklahoma, South Carolina or Wisconsin.

Maximum annual loan amount up to cost of attendance, less other aid, but no more than the amount certified by your school. Aggregate maximum loan limits apply.


Student borrowers and cosigners are equally responsible for repayment of the loan.


Contact Chase for the most current rate information.