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Chase Select Private Student Loan

Who Is the Borrower?
 Eligible undergraduate students; borrower or co-borrower must be U.S. citizen or permanent resident.
Interest Rate
 Variable interest rate is indexed to the 3-month LIBOR rate as published in the Wall Street Journal. Rates are tiered and "best" tier borrowers get loans at the 3-month LIBOR rate plus 3.95%. Rates range up to 3-month LIBOR plus 7.00%. The rate is capped at 25%. Rates are reset quarterly.
Credit Criteria
 Approval and interest rates are based on the student borrower's and/or co-borrower's creditworthiness as determined by Chase.
Fees
 There are no origination, disbursement, repayment or default/insurance fees.
Minimum and Maximum Allowed
 Loans are approved from $500 up to the total cost of education minus any financial aid, including any Federal Direct Stafford Student Loan. The maximum aggregate limit is $120,000.
Repayment Terms
 Standard repayment of principal and interest in a fixed monthly amount and begins 15 to 45 days after the final disbursement date. The maximum repayment period is 25 years for loan amounts of $30,000 or more. No prepayment penalties.
Enrollment Status
 Students must be enrolled at least 6 credits per semester in an undergraduate degree program.
Deferment Options
 Options for interest-only repayment and deferment of principal and interest. Repayment of principal and interest begins 5.5 years after the first disbursement or 6 months after the student ceases to be enrolled, whichever occurs first. Hardship forbearance may be granted under certain circumstances.
Can Loan be Sold?

Chase services its Chase Select loans and does not sell them to another lender.
Other Borrower Benefits
 An interest rate reduction of 0.25% is available to borrowers in repayment who elect to have their monthly payments automatically deducted from a bank account by Chase. Loans to pay previous school fees are limited to the amount owed to the school.
How to Apply

Get more information and/or apply online: http://www.chasestudentloans.com/custom/bu/

Call Chase at 866-306-0868.


This information is based on information provided by lenders identified in response to a Request for Information issued by Boston University. The terms and conditions of any loan may vary depending on, among other things, market conditions and your credit score. Proposed terms may have changed since lenders provided information to Boston University. You should contact the lender to obtain current terms and information. You should review any proposed terms and obligations carefully.

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