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Chase SelectSM Private Student Loan Repayment Example

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This repayment example applies to students with Chase Select undergraduate, graduate or graduate health professions loans. The pricing examples are based on a student borrower who applied with a qualified cosigner.*

Repayment Option: Deferment Repayment Option: Immediate Repayment
Lowest Rate Highest Rate Lowest Rate Highest Rate
Principal Loan Amount/Amount Requested $10,000 $10,000 $10,000 $10,000
Origination Fee 0.00% ($0) 0.00% ($0) 0.00% ($0) 0.00% ($0)
Interest Rate**
(LIBOR + Margin)
4.70% (LIBOR + 4.40%) 12.55% (LIBOR + 12.25%) 4.70% (LIBOR + 4.40%) 12.55% (LIBOR + 12.25%)
Principal Amount of Loan at Disbursement $10,000 $10,000 $10,000 $10,000
Deferment Period 48 months 48 months 0 months 0 months
Principal Amount of Loan at Repayment $11,782 $14,759 $10,000 $10,000
Monthly Minimum Payment
(After deferral period, if any, assuming variable rate remains constant)
$75.82 $168.20 $64.35 $113.97
Repayment Period
(Begins after deferral period,if any)
240 months 240 months 240 months 240 months
Annual Percentage Rate 4.59% 11.71% 4.70% 12.55%
Total Finance Charge $6,414 $25,609 $5,444 $17,352
Total Amount Paid $18,196 $40,368 $15,444 $27,352

** LIBOR Index effective October 1, 2009 is 0.30%.

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*Important Information: As students determine the best way to finance their education, they should consider the full range of student financial aid options available. Private loans, like the Chase Select loan, can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of education. Chase Select loans are subject to credit approval and others terms and conditions.

These repayment examples may not reflect your specific interest rate and loan amount. An estimated initial disclosure statement will be sent to you with your details after your school certifies the amount and date of your first loan disbursement.

**Interest rates are variable and may increase after consummation of the loan, but will not exceed the maximum rate allowed by Ohio state law. The rates used in these examples are based on a margin plus the LIBOR Index and are updated quarterly. The rates may vary based on the three month London Interbank Offered Rate (LIBOR), which is updated each quarter (January, April, July and October) as published in The Wall Street Journal on the fifteenth day of the month preceding each calendar quarter, rounded to the nearest one-hundredth percent (0.01%). Any increase will result in either a higher payment amount or more payments by extending your term. Rates vary depending on the creditworthiness of the borrower and cosigner.

Immediate Repayment of Interest Only is another available repayment plan.

This information was current as of 09/15/2009 and is subject to change. Contact Chase for the most up-to-date terms.

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A qualified cosigner may help you get a lower interest rate on your Chase Select Private Student Loan.

A qualified cosigner may help you get a lower interest rate on your Chase Select Private Student Loan.

 
 

 

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