Repayment Examples
Chase knows that repayment terms need to be flexible depending upon the student and the situation. With three different repayment options for undergraduate students, Chase has ensured that repayment of the undergraduate loan will be easy for all borrowers.
Undergraduate Option 1
Deferred Principal and Interest Repayment
Make no payments for up to four years while continuously enrolled in school (5 years if enrolled in 5-year degree program). Repayment of principal and interest then begins within 180 days after graduation or withdrawal from school.
Undergraduate Option 2
Immediate Interest Only Repayment
Pay only interest for up to four years while continuously enrolled in school (5 years if enrolled in 5-year degree program). Repayment of principal and interest then begins within 45 days after graduation or withdrawal from school.
Undergraduate Option 3
Immediate Repayment of Principal and Interest
Pay principal and interest in a fixed monthly amount beginning within approximately 45 days after funds are disbursed.
Undergraduate Loan Repayment Examples
Option 1:
Deferred Principal and Interest Option 2:
Immediate Interest Only Option 3:
Immediate Repayment of Principal and Interest
Amount Requested $10,000.00 $10,000.00 $10,000.00
Origination Fee 0.00% 0.00% 0.00%
Principal Amount of Loan $10,000.00 $10,000.00 $10,000.00
Interest Rate 5.50% 5.50% 5.50%
Term 240 months 240 months 240 months
Fund Date 07/01/2008 07/01/2008 07/01/2008
First Payment Date, Interest Only 08/07/2008
Deferment 48 months 48 months
Grace 6 months 6 months
Total Deferment 54 months 54 months
First payment date 02/07/2013 02/07/2013 08/07/2008
Repayment Terms
54 payments $45.96
185 payments $80.10
239 payments $85.91 $68.86
1 payment $86.78 $61.36 $67.46
APR as low as 5.50% 5.50%
APR during Deferment Period 5.04%
APR during Repayment Period 5.50%
These are examples of current program offerings based on student-only borrowers with excellent credit attending a four-year school and are subject to change. The interest rates used above are based on the Prime Rate. The current index is 5.0%, based on the value of the Prime Rate from the first business day of June of 2008. The interest rate and payments are variable and adjusted quarterly. The interest rate and APR will increase or decrease during the list of the loan if the Prime Rate Index increases or decreases. Using a qualified cosigner may reduce the interest rate by 0.50% from the rates above.
The margins can vary from 0.50% to 9.0% and the origination fees can vary from 0.0% to 4.99% based on the school type and borrower and cosigner (if applicable) creditworthiness.
These are examples of current program offerings and are subject to change.
Graduate Loan Repayment Example
Defered Principal and Interest
Amount Requested $10,000.00
Origination Fee 0.00%
Principal Amount of Loan $10,000.00
Interest Rate 5.50%
Term 240 months
Fund Date 7/1/2008
Deferment 24 months
Grace 6 months
Total Deferment 30 months
First Payment Date 02/07/2011
Repayment Terms
239 payments $78.33
1 payment $77.55
APR during Deferment Period 5.28%
APR during Repayment Period 5.50%
These are examples of current program offerings based on student-only borrowers with excellent credit attending a four-year school and are subject to change. The interest rates used above are based on the Prime Rate. The current index is 5.0%, based on the value of the Prime Rate from the first business day of June of 2008. The interest rate and payments are variable and adjusted quarterly. The interest rate and APR will increase or decrease during the list of the loan if the Prime Rate Index increases or decreases. Using a qualified cosigner may reduce the interest rate by 0.50% from the rates above.
The margins can vary from 0.50% to 9.0% and the origination fees can vary from 0.0% to 4.99% based on the school type and borrower and cosigner (if applicable) creditworthiness.
These are examples of current program offerings and are subject to chang
Further information here
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