If you’re eligible for benefits under the Servicemembers Civil Relief Act (SCRA), other applicable laws or Chase policy, we will cap the interest rate on your loan to match your active duty dates.
Private Student Loans
While the SCRA requires an interest rate of no greater than 6.00%, effective for interest accrued on and after April 1, 2013, Chase will cap your interest rate on your Chase private student loan(s) at 4.00% as an additional benefit for our SCRA-protected servicemember customers. Additionally, late fees, if any are applicable, will be waived during active duty periods. If your private student loan(s) has a variable interest rate, the rate will be adjusted downward if the rate should fall below the cap.
If you are eligible, you can also choose to defer payments on your private student loan(s) while you’re on active duty. When your active military duty ends, we’ll extend your private student loan SCRA benefits for an additional year before adjusting your loan(s) back to the original terms, and the interest rate and monthly payment amount at that time will be disclosed on your monthly billing statements.
If you would like to request SCRA benefits for your Chase private student loan(s), please call AES at 1-800-233-0557 (Monday through Friday from 7:30 AM to 9 PM ET).
Federal Student Loans
Chase will cap your interest rate on your Chase federal student loan(s) at 6.00% and late fees, if any are applicable, will be waived during qualifying active duty periods. Additionally, military deferment or other options may also be available for federal student loans.
If you would like to request SCRA benefits for your Chase federal student loan(s), or learn about the other options available to assist servicemembers with federal student loans, please call ACS at 1-800-835-4611 (Monday through Friday from 8 AM to 11 PM ET) or visit the servicemember page on the ACS website at www.acs-education.com.