We no longer offer student loans. Please contact your school’s financial aid office for information on private student loans.

Simple interest is a method of calculating interest due on a loan. Interest is charged daily, based on the loan’s outstanding principal balance. This means that the amount of interest owed may vary, depending on when payments are made during the month. The earlier payments are made before their due date, the less interest will be owed. On the other hand, the later payments are made after the due date, the more interest will be owed.

“Capitalized” interest is interest that is added to the outstanding principal balance. It is the interest that accrues on the loan during periods of deferment or forbearance and is added to the loan’s principal balance at repayment. Capitalization takes place at the end of the deferment or forbearance period, when the interest that accumulated during that time is added to the loan’s principal balance and interest begins to accrue on the new, higher principal amount.

Please consult an accountant or tax advisor about deducting student loan interest.

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.

A minimum number of consecutive, on-time principal and interest payments must be made and the student borrower must meet credit and other established cosigner release eligibility requirements to establish the ability to repay the loan on the student borrowers own.

The student borrower will become solely responsible for repaying the loan if the cosigner is removed.

To request to remove the cosigner from a Chase private student loan, please call American Education Services (AES) at 1-800-233-0557 Monday through Friday 7:30 AM to 9:00 PM ET.

If you’re having trouble making payments on your Chase private student loan(s) serviced by AES, please call AES at 1-800-233-0557 (Monday through Friday from 7:30 AM to 9 PM ET) to discuss the various options that may be available to you.
 
If you’re having trouble making payments on your Chase federal student loan(s) serviced by ACS Education Services  (ACS), please call ACS at 1-800-835-4611 (Monday through Friday from 8 AM to 11 PM ET) to discuss the various options that may be available to you.

For Chase private student loans—tax year 2015: You will receive a 1098-E from Chase for interest paid to Chase on your Chase serviced private student loan(s) in 2015, prior to the servicing transfer to AES. If your payments sent to AES include more than $600 in interest during 2015, AES will also mail you a 1098-E showing interest paid. If the interest amount paid to AES during 2015 is less than $600, your 1098-E will be available at www.aesSuccess.org.

For Chase federal student loans: You will receive a 1098-E from ACS for any interest paid on your Chase federal student loan. You can also go to www.acs-education.com and print your 1098-E form.

To get a payoff balance for your Chase private student loans, please call AES at 1-800-233-0557 (Monday- through Friday 7:30 AM to 9 PM ET).

To get a payoff balance for your Chase federal student loans, please call ACS at 1-800-835-4611, (Monday through Friday 8 AM through 11 PM ET).