You may now qualify for up to $40,000 to help cover college costs. This money is available right away at a rate as low as 5.87% APR.1

Now you can reduce your rate by 0.25% simply by having your monthly payments automatically withdrawn.2 This can save you hundreds of dollars over the life of the loan using the repayment example below!

Loan Amount up to $40,000 per academic year ... up to $150,000
Processing Time preliminary approval in minutes on the phone or Web
Interest may be tax-deductible3
Web Application apply quickly and easily online

Apply now

1. The lowest APR available for the Private Education Loan is from 04/01/08 - 06/30/08. Actual interest rate, fee amount and APR is determined by the borrower’s credit history. APR may vary and may increase after your loan is made. See below for repayment example.

2. Interest rate reduction applies as long as you arrange with the loan servicer to have your monthly payments automatically deducted from your checking or savings accounts. If a payment is not made due to insufficient funds in your account or for any other reason, the reduction no longer applies and the rate will automatically be raised to the non-discounted rate. Once you lose this benefit, you cannot get it back. The lender reserves the right to modify, continue or discontinue its borrower benefit programs at any time without notice. Call for details about current benefit offerings.

3. Consult your tax advisor regarding the deductibility of interest.

Repayment Example: Immediate Interest Only

Undergraduate loan with well-qualified cosigner:
Amount requested: $10,000.00
Origination fee: 0.00%
Principal Amount of Loan: $10,000.00
Interest Rate: 5.87%
Term: 240 months
Fund date: 4/1/2008
First payment date,interest only: 5/7/2008
Deferment: 48 months
Grace: 6 months
Total Deferment: 54 months
First payment date: 11/7/2012
 
Repayment Terms
54 payments: $49.00
185 payments: $82.09
1 payment: $67.33
APR: 5.87%

JPMorgan Chase Bank, N.A. is the lender for the Private Education Loan Program.

© 2007 JPMorgan Chase & Co. All rights reserved.

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