Bank One - EducationOne Private Student Loan
The Education One-Bank One Student Loan is another term used to describe the private student loans distributed by Chase. The Chase Student Loan program can be extremely beneficial to students who find their grants, scholarships and Federal loans have left a gap in their college fund. These are private loans, and are not Federally funded or guaranteed, but they do offer attractive terms and repayment plans that make them ideal for college-bound students.
Features of the Education One/Chase Student loan
When it comes time to start planning your college career, it is necessary to look for funding from a variety of sources. First and foremost, Federal grants, loans and scholarships provide substantial financial aid opportunities for college-bound students looking to build a college fund. As helpful as these Federal programs are however, it is unlikely that they will cover the total cost of your education. Barring a full tuition merit scholarship, most students will have to consider a college loan.
Chase offers a number of student loan programs to match every student's needs. Whether you are attending a 4 year liberal arts college or a vocational school; whether you are an undergraduate or a graduate student, Chase can help you find those much needed funds for your college education.
All Chase student loans are decided according to credit score, and this can cause troubles for students with little or no credit history. Chase does however make provisions in their student loans for cosigners, allowing parents or guardians to act as co-borrowers. Having a cosigner on your student loan will also help you qualify for better terms and lower interest rates while giving you the opportunity to build a solid credit score.
Chase education loans offer a number of benefits to student borrowers. Chief among them is the ability to borrow up to the total amount of your college costs, less any financial aid you have already received. This allows students to take out one private loan to cover any outstanding costs associated with tuition, housing, books and living expenses. Chase loans also have no origination fees or penalties for early repayment, saving you money when you must need it.
Chase student loans, like Federal and State loans, offer flexible repayment plans including loan deferments. This allows students to postpone their repayment schedule until after graduation. Loan deferment can be a great help to college students, but it should be carefully considered. While you are attending college your loan will still be accruing interest, and when you graduate you will be responsible for all interest that has accrued during the deferment period.
Chase student loans are paid directly to your college of choice. The college will then disperse any monies not used for tuition to you, and you can use those funds for books and other essentials. This is common with most private loans, and your bank will certify the total costs of tuition through the financial aid office of you university.
For students planning their college career, a private lender loan of some form is almost a certainty. When the time comes for you to consider a private student loan, be sure to investigate what Chase and their Education One and Select Student Loan programs can do for you.