Federal Student Loans

After you’ve checked for scholarships and grants, federal student loans are another option to consider. Private loans should be used after you’ve exhausted all other financial aid options.*

For most federal student loans, you’ll be required to fill out the Free Application for Federal Student Aid (FAFSA) before you can apply. The FAFSA helps determine the amount of aid you qualify for and the types of federal aid available to you. Your school will also need to certify the federal student loan.

Chase Student Loans offers three types of federal student loans:

• Federal Stafford Loan
• Federal Parent PLUS Loan
• Federal Graduate PLUS Loan

Interest rates

Federal student loans usually have lower interest rates than private student loans. This is appealing when you estimate the amount of interest that can accumulate over the life of a loan and compare rates that are lower by a percentage point or two — lower interest rates can make a big difference.

Subsidized and unsubsidized federal student loans

Federal student loans can be subsidized or unsubsidized. Subsidized loans are awarded based on financial need. If you qualify, the government will pay the interest on your loan while eligibly enrolled at least half-time, the first six months after you leave school or drop below half-time enrollment and during periods of eligible deferment.

An unsubsidized loan is a federal student loan that is not based on financial need. You do not need to make principal or interest payments while in school at least half time, but interest will start accruing as soon as the loan is disbursed.

*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 can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of education.

Chase student loans are subject to credit approval, if applicable, receipt of a completed and signed Application/Promissory Note, verification of application information and verification of student's enrollment at a participating school.

This information was current as of 04/01/2009 and is subject to change. Contact Chase for the most up-to-date terms.