Private student loans (also known as alternative student loans or personal student loans) can help you pay for college, generally at better interest rates than other lines of credit.

A Chase Select loan is a credit-based private student loan that must be certified by your school's financial aid office. Your school may require you to complete the Free Application for Federal Student Aid (FAFSA) to determine your loan eligibility. You can add a cosigner to the loan, which may help you get approved for the loan and qualify for a lower interest rate.
We have put together a short list of the most popular private student loan lenders and consolidation companies. These companies will either loan you money for college or repackage your multiple student loans into just one single loan, providing you with a smaller monthly payment and allowing you to have a better monthly cash flow.

There are a few popular lenders that will borrow you money and a couple of services that will help you consolidate your student loans. These loans are for students, with the Federal Stafford Loans, as well as for parents — Federal PLUS Loans (loans for parents of undergraduate students).

Private student loans may be a good option to help you fill the gap between what federal, state and school assistance provides and what you actually need in order to afford higher education. Private loans (sometimes called alternative student loans) are credit-based consumer loans to be used specifically for paying educational expenses.

Private loans, like auto or home loans, are based on your creditworthiness. Most students will need a creditworthy co-signer such as a parent or other relative in order to obtain a private loan. Terms and conditions applicable to these loans vary greatly.

Factors such as interest rate, Annual Percentage Rate (APR), length of repayment, loan minimum and maximum as well as fees should be carefully considered when researching and choosing a private loan.

One feature of many private loans is the ability to completely postpone (defer) repayment until you graduate from college. Also, private loans almost always offer lower interest rates than credit cards.

While we encourage students and families to pursue federal financial aid before considering private education loans, there are many student/family situations where a private loan is viewed as a preferred alternative. Sometimes parents want their student to be responsible for his/her education. In other cases, having the educational costs met means the student can focus on his or her studies instead of having to augment the costs with an off-campus job. Whatever your situation may be, know that a private loan is often an attractive and affordable option to help pay your education expenses. Just remember, borrow only what you need and compare your options before you borrow.

Private student loans, also called alternative college loans, can be used to cover most education-related expenses. These college loans are a great option when federal student loans and other forms of student financial aid aren't enough to cover the full cost of your education. Because most private student loans are credit-based, families cannot be turned down for making too much money.
As students determine the best way to finance their education, their should consider the full range of student financial aid options available. Private loans, like the Chase Private Student Loan, can be used when federal loans, grants and other forms of financial aid are not sufficient to cover the full cost of education.