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Student Loans

Chase Student Loan Alternatives

The retail arm of JPMorgan Chase, Chase Bank is a global financial services institution best known for its credit cards, personal and business deposit accounts, and mortgages.

Chase used to offer a student loan program but stopped issuing student loans more than a decade ago. Here’s what you need to know about Chase student loans if you were already a customer and alternative lenders to consider if you’d like to borrow money for school.

Does Chase offer student loans?

Chase Bank stopped offering new private student loans to borrowers in 2013, only a year after introducing the program. However, Chase still serviced private and federal loans for four more years. 

In 2017, Chase Bank sold its $6.9 billion student loan portfolio to Navient, the largest student loan servicer at that time. Of that portfolio, $3.7 billion of loans were federal, and $3.2 billion were private. 

In the years since, Chase Bank seems to have redirected its attention to other consumer products, such as credit cards. In addition to ending its private student loan business, Chase also pulled out of the personal lending arena to focus its efforts elsewhere.

Alternatives to Chase student loans

New student borrowers searching for loans to help fund their educational expenses have several alternatives to Chase Bank. It’s always wise to first check your eligibility for federal loans since they offer many government-backed benefits in addition to competitive fixed rates.

Turning to private funding is the next step if you’ve exhausted your federal loan options (or don’t qualify). Because Chase was a private loan lender, here are our top recommendations if you’re looking for student loan companies with competitive rates and terms.

LenderRates (APR)What to know
College Ave 4.07% – 15.48Repayment terms from 5 – 15 years 
Sallie Mae4.50% – 15.49Cosigner release may be possible after 12 months 
Ascent4.09%15.66% Both cosigned and non-cosigned loan options

College Ave: Best overall private student loan

LendEDU rating: 5 out of 5

  • Student loans for undergraduates, graduates, parents, and career training
  • You choose your repayment plan and term
  • Complete your application in as little as 3 minutes

Our top-rated lender, College Ave, offers student loans for undergraduates, graduates, and even parents—making it a great alternative to Chase student loans. You can choose between a fixed and variable interest rate, along with repayment terms from five to 15 years. 

While you can choose to make payments on your College Ave student loan while you’re in school, you can also defer payment until you graduate and for six to 12 months after. College Ave lenders anywhere from $1,000 up to your school-certified cost of attendance. 

On the downside, College Ave has a hefty requirement for cosigner release—you can’t apply until more than half of your scheduled repayment period has elapsed. 

Sallie Mae: Best for cosigners

LendEDU rating: 4.8 out of 5

  • Student loans for undergraduates, graduates, and career training
  • Release your cosigner after 12 consecutive on-time monthly payments
  • No loan origination fees 

As one of the biggest names in student loan funding, Sallie Mae offers a wide range of trusted loan products. Student loans are available to undergraduates, graduate students, and even professional students while they’re studying for the bar exam or in a medical residency program.

Cosigners are required for most student borrowers, but they can be released after just 12 consecutive on-time payments. Loan repayment options include in-school repayment, flat monthly payment, or full deferment. Sallie Mae offers an autopay discount on your interest rate.

You can borrow from $1,000 up to your school’s cost of attendance and choose repayment terms from five to 15 years. Both fixed and variable interest rates are available. 

Ascent: Best for eligibility

LendEDU rating: 4.4 out of 5

  • Student loans for undergraduates, graduates, and career training
  • Get 1% cash back upon proof of graduation
  • Check your rate without affecting your credit

Ascent offers cosigned and non-cosigned student loans for undergraduates and graduates. If you don’t have a good credit score, your own income, or a cosigner, Ascent offers outcomes-based loans for upperclassmen.

You can check your prequalified rates without affecting your credit score and even earn a 1% cash-back reward on your loans upon graduation. Ascent offers a nine-month grace period after graduation, giving you time to find a job. 

Select a fixed or variable rate and repayment terms of five, seven, 10, 12, or 15 years. 

What if I already have a Chase Bank student loan?

Borrowers who had Chase student loans when they were transferred to Navient are still responsible for repaying their debt.

Borrowers should have received notice detailing the transfer, including information about how to contact Navient and how to make payments. If you had a Chase student loan, your interest rates, repayment terms, and monthly payments should have remained the same.

Federal loan borrowers serviced by Navient had their debt balances transferred again in January 2022 when Navient sold its federal loan portfolio to Maximus, a government loan servicing company that operates through its loan servicing division, Aidvantage

The loans retained their terms (including the interest rate and repayment period) through the transfer.

More about Navient

Navient is one of the most prominent student loan servicers in the country, offering payment and loan management services to student loan borrowers. The company was formed in 2014 when Sallie Mae split into Sallie Mae Bank, which offers new student loans, and Navient, which services loans.

Navient once serviced federal student loans but canceled its federal loan servicing contract in December 2021 and now only manages private student loan debt.

Navient came under scrutiny during a nationwide lawsuit it settled in January 2022. After five years of litigation with 39 states, Navient agreed to cancel $1.7 billion in private student loan debt for about 66,000 borrowers and send checks (for approximately $260 each) to another 350,000 federal loan borrowers.

The company offers online loan servicing and assistance over the phone and online. Chase student loan borrowers who had their loans transferred to Navient can now complete all of their service requests, payments, repayment plan selections, and deferment or forbearance requests through Navient.

How to refinance your loans

Refinancing can be an excellent way to adjust your student loans. With a refinance loan, also called a refi, you can:

  • Consolidate multiple student loans into one account, with one monthly payment and due date
  • Change loan servicers
  • Lock in a lower interest rate on your loans to save money
  • Adjust your monthly payment or loan terms

If you’d like to move to a new loan servicer and potentially pay less on your original Chase student loan, look into your loan refinancing options. Once approved, you’ll get a new loan—ideally with a lower interest rate and new repayment terms.

Like new private student lenders, refinance lenders consider your credit history and income when deciding your eligibility and rate terms. 

The requirements vary by lender, but most refi loans require good credit and a strong income. A creditworthy cosigner may boost your chances of approval or help you access better rates. If you’re ready to compare lenders, check out our picks for the best student loan refinance companies.