CHASE SELECTSM
GRADUATE HEALTH PROFESSIONS LOAN FAQs

A Select Graduate Health Professions Loan is a credit-based private student loan that requires certification by your school's financial aid office. It can be used for qualified education expenses and can fill the gap for expenses that exceed federal loans, scholarships, grants and other aid. Contact your financial aid officer for more information.*

The annual maximum borrowing limit can be up to the yearly cost of attendance (minus any aid received), as determined by your school's financial aid office. The minimum loan amount is $500. The cumulative student loan limits vary depending on the healthcare discipline you are studying. Contact your financial aid officer for more information.

School financial aid officers and Chase want to ensure that students are borrowing responsibly. Schools will certify your need for a Chase Select loan and verify the amount you are eligible to borrow. Chase requests that your school certify your Chase Select loan to confirm that you are currently enrolled and that the loan does not exceed the difference between the cost of attendance and other aid.

Federal law requires that before a lender may disburse a private student loan to a borrower attending an institution of higher education, the lender must obtain a completed and signed self-certification form from the borrower.

You can obtain the information for the self-certification form from your school's financial aid office. You may also find this information in the financial aid award letter that you received from your school.

Students pursuing the following graduate healthcare disciplines are eligible to be certified for a Chase Select Graduate Health Professions Loan:

Discipline: Allopathic
Osteopathic
Dentistry
Podiatry
Optometry
Pharmacy
 Veterinary Medicine
Physicians Assistants
Physical Therapy
Occupational Therapy
Chiropractic
Nursing
Audiology
Clinical Psychology
Dietetics/Nutrition
Epidemiology
Speech-Language Pathology
Allied Health
Public Health
Other Health Profession Disciplines
Aggregate
(lifetime) loan limit,
maximum:		 $250,000
Annual
loan limit,
minimum:		 $500

Eligible borrowers must meet our credit criteria and be:

  • Enrolled in a degree or certificate program at a Chase-participating school
  • A U.S. citizen or permanent resident, or an international student with a valid Social Security Number applying with a qualified U.S. citizen or permanent resident cosigner
  • The legal age of majority for the state of residence at the time of application, usually 18 years or older (19 in Nebraska and Alabama, 21 in Mississippi and Puerto Rico)

    Benefits include:

  • No payments required while in school
  • No origination or repayment fees
  • 0.25% Interest rate reduction for having monthly payments automatically deducted from a bank account
  • Cosigner release after making 36 consecutive on-time payments of principal and interest
  • Loans from $500 up to your cost of attendance (minus other aid) each year

Call a Chase Health Education Program Specialist toll-free at 1-800-211-6730, Monday – Friday between 8 AM – 10 PM Eastern.

Federal student loans, like Stafford and PLUS loans, usually have lower interest rates than private student loans and may include government-subsidized interest payments during qualifying periods of enrollment and deferment. Federal loans have standard rates and fees, though borrower benefits may vary by lender. Federal loans have fixed interest rates, while private loans, like the Chase SelectSM Graduate Health Professions Loan, typically have variable interest rates.

Chase provides funds for federal student loans but also offers the Chase Select Graduate Health Professions Loan. Private loans are designed to supplement federal loans when federal loans, scholarships, grant and other aid aren't enough to cover the entire cost of your attendance.

You should always exhaust your federal student loan options before applying for private loans.

*Important Information:As students determine the best way to finance their education, they should consider the full range of student financial aid options available. Private loans, like the Chase Select Graduate Health Professions Loan, can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of attendance.
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-participating school.
The 0.25% interest rate reduction is available to borrowers in repayment who elect to have their monthly payments automatically deducted from a bank account by Chase. This interest rate reduction will begin when the borrower enrolls and begins having payments automatically deducted by Chase and will remain in effect as long as automatic payments continue without interruption. The reduced interest rate will return to the non-discounted rate if automatic payments are canceled, rejected or returned for any reason or during periods of deferment or forbearance. The 0.25% interest rate reduction will not lower the monthly payment amount but will instead reduce the interest that accrues, thereby reducing the total amount repaid and the time in which the loan is repaid.
Chase services its Chase Select loans and does not sell them to another lender.
Upon request by the student borrower, cosigners are eligible to be released from the loan after any 36 consecutive payments of principal and interest are paid on time. The borrower must meet credit criteria at the time of cosigner release. Other terms and conditions apply. Benefit programs are subject to change.
Maximum annual loans up to cost of attendance, minus other aid, as certified by the school. Aggregate maximum loan limits apply.
This information was current as of 02/02/2010 and is subject to change. Contact Chase for the most up-to-date terms.