Federal Student Loans

Chase Federal Student Loan Program

Many students rely on federal government student loans to finance their education. These student loans have low interest rates and do not require credit checks or collateral. Student loans also provide a variety of deferment options and extended repayment terms. include the Federal Stafford and Federal Perkins Loans.

Federal programs are the single largest source of college loans. The two main programs are the Federal Family Education Loan Program (FFELP) and the William D. Ford Federal Direct Loan Program (FDLP).

You can apply for a FFELP loan through many private banks, credit unions, or education finance companies. Although your school might recommend specific institutions, you're free to get your from Chase.

This loan has very attractive terms:

• You'll get lower interest rates compared to other loans.
• Your interest payments may be paid by the federal government while you're in school.
• You may not need to make loan payments while you're in school.
• You get longer repayment terms.
• You may benefit from flexible credit requirements.

Stafford Loan

The main federal loan for students is called the Stafford Loan and has two variations:

• Federal Family Education Loan Program (FFELP) student loans are provided by private lenders, such as banks, credit unions and savings & loan associations.
• Direct Student Loan Program (FDSLP) , administered by "Direct Lending Schools", are provided by the US government directly to students and their parents.

Many students today combine with private to borrow the maximum amount permitted each year.

Repayment begins six months after the student graduates or drops below half-time enrollment. The standard repayment term is 10 years, although one can get access to alternate repayment terms (extended, graduated and income contingent repayment) by consolidating the loans.

Perkins Loan

The Perkins Loan is awarded to undergraduate and graduate students with exceptional financial need. This is a campus-based loan program, with the school acting as the lender using a limited pool of funds provided by the federal government.

The amount of Perkins Loan you receive is determined by your (college, university, community college, trade school, profession program, or industry institute) school's financial aid office. The program limits are $4,000 per year for undergraduate , and $6,000 per year for graduate , with cumulative limits of $20,000 for undergraduate and $40,000 for undergraduate and graduate loans combined. The Perkins Loan also offers better cancellation provisions than the Stafford or PLUS loans.

As you determine the best way to finance your college education, you should consider the full range of student financial aid options available. Private , like the Chase Private , can be used either alone or when federal , grants and other forms of student financial aid are not sufficient to cover the full cost of higher education or college or graduate school or medical school.

Student Loan Consolidation | Federal Student Loans | Private Student Loans