The table below shows repayment examples for a Chase Private Consolidation Loan. Repayment begins approximately 45 days after the consolidation loan is funded.*
| Repayment of Principal and Interest* | ||
| Lowest Rate | Highest Rate | |
| Amount Requested | $40,000.00 | $40,000 |
| Origination Fee | $0.00 | $0.00 |
| Principal Amount of Loan | $40,000 | $40,000 |
| Interest Rate (rate as of 10/21/2008)** | 7.74% (LIBOR + 5.25%) | 12.74% (LIBOR + 10.25%) |
| Repayment Period | 300 months | 300 months |
| Monthly Minimum Payment (assuming variable rate remains constant) | $301.87 | $443.32 |
| APR | 7.74% | 12.74% |
| Total Finance Charge | $50,560.68 | $92,996.32 |
| Total Amount Paid | $90,560.68 | $132,996.32 |
*Important Information: Chase Private Consolidation Loans are subject to credit approval, receipt of a completed and signed Application/Promissory Note, and verification of income, identity and other application information. Only private student loans, which are in good standing, for qualified education expenses from an eligible Title IV school may be included. Federal student loans are not eligible for this program. A minimum balance of $7,500 is required, with a cumulative borrowing limit for private student loans of $150,000, based on credit eligibility. Please contact us for details on eligibility criteria.
These repayment examples may not reflect your specific interest rate and loan amount. An estimated initial disclosure statement will be sent to you with your details prior to your loan being funded.
**Interest rates are variable and may increase after consummation of the loan, but will not exceed the maximum rate allowed by Ohio state law. The rates used in these examples are and based on a margin plus the one-month LIBOR index, which was 2.49% as of 10/01/2008. The one-month LIBOR Index is determined updated each quarter (January, April, July, and October) as published in The Wall Street Journal on the fifteenth day of the month preceding each calendar quarter, rounded to the nearest on-hundreth percent (0.01%). Any increase will result in either a higher payment amount or more payments by extending your term. Rates vary depending on the creditworthiness of the borrower and cosigner. Being approved with a cosigner will reduce the interest rate by 0.50% from the rates shown above.
This information was current as of 11/21/2008.
These repayment examples may not reflect your specific interest rate and loan amount. An estimated initial disclosure statement will be sent to you with your details prior to your loan being funded.
**Interest rates are variable and may increase after consummation of the loan, but will not exceed the maximum rate allowed by Ohio state law. The rates used in these examples are and based on a margin plus the one-month LIBOR index, which was 2.49% as of 10/01/2008. The one-month LIBOR Index is determined updated each quarter (January, April, July, and October) as published in The Wall Street Journal on the fifteenth day of the month preceding each calendar quarter, rounded to the nearest on-hundreth percent (0.01%). Any increase will result in either a higher payment amount or more payments by extending your term. Rates vary depending on the creditworthiness of the borrower and cosigner. Being approved with a cosigner will reduce the interest rate by 0.50% from the rates shown above.
This information was current as of 11/21/2008.