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What are the Chase student loans?

I would like to know about Chase student loans, to see if they can be beneficial to my child. What are these loans and how can they be accessed? I have also heard about parent student loans, but I don’t know exactly what that means. Could you explain it to me? I have been warned that education loans are expensive to repay, so I should avoid them as much as possible. Still, I don’t see how I will afford my son’s education without them. I want to find some income based repayment student loans.

Timothy Norman

in Student Loans

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Jennifer Patterson on May 22, 2018

A Chase student loan is one provided by JP Morgan Chase to support students’ education.  The banking arm of this giant financial institution is the Chase bank, which provides loans. There are details on the loan operationalization at Student Loan Hero. The highlights are as follows:

  1. It is no longer possible to access the Chase loans. The bank stopped giving loans sometime in 2013. It transferred its loan portfolio to the Conduent Education Services.  Students or parents can thus visit the site to get the services.  Before the transition to Conduent, there were interim loan services by the bank through ACS. Now all these services, including outstanding loan payments, are being fully undertaken by Conduent.
  2. There are alternative ways of getting similar loans if the Conduent ones are too expensive or the process is too complicated for you. One way is to go for federal loans. There are parent loans for students among the loans. This means that it is the parent who takes the loan, and repays it, on behalf of his child. Known as Parent Plus loans, they are applicable to parents with dependent children who are learning. They are among the cheapest loans to repay. The interest rates are low and the repayment period well spread out. To find out more about this, visit Edvisors.  You will learn that the interest rate is 7%.
  3. For your student loans with an income-based repayment arrangement, the Parent Plus loan will serve you well. The main requirement is to fill in a Free Application for Student Aid (FAFSA) form at FAFSA.ed.gov. The same form can be obtained from any financial aid office at the college or university that the student is joining. After that, you will follow the requisite guidelines until you get the loan. Among them is to sign the Master Promissory note. Remember it is the parent who should sign. Next is to request the loan using the same FSA ID used to sign the note. The repayment rate and period will be comfortably pegged on your income. Generally, you will get the loan, provided that you fulfill the condition below.
  4. The main rule to get the loan is not to have an adverse credit history. This means having a debt $2085 or more, which has not been repaid in 90 days or more or facing foreclosure or bankruptcy. 

Caleb Jenkins2 years ago

I’m glad to be careful to pay my debts on time. An adverse credit history can even affect our children’s education. Having debts is awful, but sometimes it is the only way we have to afford an important part of our lives as an education. Although expensive, Chase student loans or other loans are necessary and the process of getting them is rather easier. Of course, the problem comes later when we need to pay it back. The income based repayment student loans are great because of their low-interest rate but they’re still a debt.  

Ronald Miller2 years ago

Chase bank has had its fair share of problems recently, hence they are going slow on giving loans. This applies to the Chase student loans they used to give. They have also limited the other types of loans. Getting a loan these days is thus a hit or miss affair. It is thus much more reliable to go for federal loans, or other available private ones, whose information can easily be accessed through the web. In any case, Chase bank still gives loans through the federal government scheme. The main advantage of the federal loans is that they are cheap to repay. The amount given can also be negotiated to fit in with your needs. This means that needs of the students will be adequately covered by the amount. It is still among the best loans to go for unless one has an adverse credit history as has been mentioned. 


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