WHO SHOULD CONSOLIDATE?

Whether you're graduating in a few months or are currently in repayment, you may be able to benefit from private student loan consolidation.* You can apply for a Chase Private Consolidation Loan any time after you graduate, as long as you are in the grace or repayment periods for the private student loans you want to consolidate.

Recent graduates

When you graduate you're going to be busy starting a new chapter in your life and if you have more than one private student loan, you'll need to remember to make each payment individually. Private student loan consolidation can make your life easier by allowing you to make one payment each month for all of your private student loans. And because your monthly payments may be lower, you can save more money each month.

Parents

A Chase Private Consolidation Loan may help your recent graduate save more money from month to month, so they won't need to constantly ask you for money. Consolidation may also help them stay on track with their payments since they'll only have one student loan payment to make each month. This could help them establish a good credit rating.

If you cosigned on private student loans with your recent graduate, a consolidation loan offers you the opportunity to:

  • have your name taken off of those loans
  • consolidate the loans in your name only
  • cosign on the new consolidation loan with your recent graduate

Borrowers in repayment

If you're currently repaying student loans, private student loan consolidation may help lower your interest rate. That means you could save more money by paying less interest on your private student loans.

Student Loan Specialists are available Monday - Friday, 8 AM - 8 PM Eastern to help you complete the application process and answer your questions.

 

*Important Information: Chase Private Consolidation Loans are subject to credit approval, receipt of a completed and signed application/promissory note, and verification of identity, income and other application information. Only private education loans that are in good standing and from eligible Title IV schools may be included. Federal education loans are not eligible under this program. Minimum loan amount is $7,500, with a cumulative borrowing limit of $150,000 based on credit eligibility. Other terms and conditions apply. Please contact us for details on eligibility criteria.

Chase does not sell these loans to another lender.

Student loan consolidation may extend your repayment term, increasing your overall financial obligation. However, your monthly loan payments may be reduced. You can choose to prepay principal with no prepayment penalties, which reduces the overall cost of your loan.

This information was current as of 06/02/2008.