Current Interest Rates

The following information is designed to help you to better understand the interest rates associated with federal and private student loans offered by Chase.

Federal Loans

Interest rates on variable federal student loans are set by Congress. For loans issued between July 1, 1998 and June 30, 2006, the rates are variable and change each July 1 based on a formula related to short-term Treasury securities. These Stafford loans are capped at 8.25 percent, and parent PLUS loans may not exceed 9.00 percent. Interest rates on new federal student loans first disbursed on or after July 1, 2006 have a fixed interest rate.

The variable federal student loan interest rates have been set for 2007-2008.

Effective July 1, 2007 through June 30, 2008, the new rates for variable student loans are as follows for loans that were first disbursed between July 1, 1998 and June 30, 2006:

Federal Stafford Loan Rates

Federal PLUS Rate

The rates for loans disbursed on or after July 1, 2006 will be a fixed rate as follows:

Federal Stafford Loan Rates

Federal PLUS Rate

Private Loans

Our private loans are based on the Prime Rate. The Prime Rate is adjusted quarterly for Chase Select.

School Certified Private Loans

Chase Select Student Loan program is Chase's school certified private loans. This means your school must offer the Chase Select loan product for you to be eligible to receive it. The interest rates for the Chase Select Loan vary based on the students' and/or co-signers' credit history.

* The "Variable Rate" is equal to the Current Index plus or minus a Margin. The Variable Rate will change quarterly on the first day of January, April, July and October (the "Change Date(s)") if the Current Index changes. The "Current Index" for any calendar quarter beginning on a Change Date (or for any shorter period beginning on the Disbursement Date and ending on the last day of a calendar quarter) is based on the Prime Rate as published in the "Money Rates" section of The Wall Street Journal on the first day of the preceding month (round to the nearest one-hundredth percent 0.01%).

Non-Certified Private Loans

You may now qualify for up to $40,000 to help cover college costs. This money is available right away at a rate as low as 7.57% APR.¹

Now you can reduce your rate by 0.25% simply by having your monthly payments automatically withdrawn.² This can save you hundreds of dollars over the life of the loan using the repayment example below!

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1. The lowest APR available for the Private Education Loan is from 04/01/07 - 06/31/07. Actual interest rate, fee amount and APR is determined by the borrower's credit history. APR may vary and may increase after your loan is made. See below for repayment example.

2. Interest rate reduction applies as long as you arrange with the loan servicer to have your monthly payments automatically deducted from your checking or savings accounts. If a payment is not made due to insufficient funds in your account or for any other reason, the reduction no longer applies and the rate will automatically be raised to the non-discounted rate. Once you lose this benefit, you cannot get it back. The lender reserves the right to modify, continue or discontinue its borrower benefit programs at any time without notice. Call for details about current benefit offerings.

3. Consult your tax advisor regarding the deductibility of interest.

Repayment Example: Immediate Interest Only