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. Since then, Chase Bank has also pulled out of the personal lending arena and redirected its attention to other consumer products, such as credit cards.
| Lender | Best for | Our rating |
| Dept. of Education | Federal student loans | Not rated |
| College Ave | Private student loans | 5/5 |
| Sallie Mae | Cosigners | 4.8/5 |
| SoFi | Member benefits | 4.7/5 |
| Earnest | Large loans | 4.7/5 |
What if I already have Chase Bank student loans?
Borrowers who had Chase student loans when transferred to Navient are still responsible for repaying their debt. However, some changes have occurred for borrowers who owe money to Navient over the years.
Initially, borrowers received a notice in their mail or email detailing the transfer, including information about how to contact Navient and make payments. If you had a Chase student loan, your interest rates, repayment terms, and monthly payments should have remained the same. The only entity that changed was who you owed money to.
But five years after Chase sold its student loans to Navient, borrowers who owed money to Navient faced a new plot twist: Federal loan borrowers serviced by Navient had their debt balances transferred to another servicer, once again.
In January 2022, 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.
Who is servicing my old Chase student loan now?
You may need to research your current loan servicer (here’s how). There are two main servicers that may own your old Chase student loans:
- Maximus. In 2021, Maximus announced it was taking over Navient’s U.S. Department of Education-owned student loan accounts, originally federal loans that Chase serviced.
- MOHELA. Some Chase customers took on federal student loans through the Federal Family Education Loan Program (FFELP), which were passed onto Navient and didn’t go to Maximus. But in early 2024, Navient shed those loans to MOHELA.
Making matters more confusing, many Chase private student loans were owned by Conduent Education Services, formerly known as American Education Services, until they sold them to a number of student loan servicers around the country.
What is MOHELA?
MOHELA is one of the largest student loan servicers in the United States. It stands for the Missouri Higher Education Loan Authority, although it’s also known as the Higher Education Loan Authority of the State of Missouri.
MOHELA is a partner of the U.S. Department of Education and services federal loans, but its reputation has suffered over the years. Critics and lawmakers have accused the company of being mismanaged and acting like a predatory loan service.
MOHELA came to service Chase’s student loans in a circuitous way. In 2017, Chase sold their loans to Navient, and in early 2024, Navient sold those loans to MOHELA.
How do I make payments on my Chase student loan?
You’ll make payments on your Chase student loan similar to how you’ll make payments on anything else you owe, provided you know who now services your Chase student loans—Maximus, MOHELA, or Conduent Education Services.
If you don’t feel up to contacting the three servicers to see if they have you listed as a borrower, you may want to check with the U.S. Department of Education. If the Chase student loans were also federal, call the Federal Student Aid Information Center at 1-800-433-3243 and ask who owns your loans.
You can check with the U.S. Department of Education if you don’t know which of the three services manages your loans. If the Chase student loans were federal, call the
From there, the steps are generally as follows:
- Log onto your student loan servicer’s app or website. Or if you prefer, and depending on how the servicer handles payments, you might want to send a check in the mail or pay over the phone with a debit card.
- On the student loan servicer’s app or website, look for tabs that say “payment.”
- Make the payment.
If you don’t know who owns your private student loans, and with all of the selling and buying of private student loans, it is certainly possible to lose track of that information, the Consumer Financial Protection Bureau recommends that you request a free credit report at AnnualCreditReport.com. That’s because private student lenders or servicers may report your loans to credit reporting agencies—even if you’re in school or your loan is in deferment.
Has my loan interest rate or terms changed after the transfer?
Your loan’s interest rate—whether fixed or variable—and terms, such as the repayment period, are unchanged. Chase no longer owns your Chase student loans, but the lender’s name is the only difference.
Other than visiting a different website or app to pay or mailing a check to another mailing address, it’s still business as usual.
While Navient owned Chase student loans from 2017 to 2024, the loan servicers currently owning Chase student loans are split between Maximus, MOHELA, and Conduent Education Services.
What should I do if I’m having trouble with my new loan servicer?
If you’re having trouble with your new loan servicer, you generally have two options, depending on what the trouble is:
Talk to your loan servicer.
If you have a student loan problem—for instance, making payments every month—you should ask your servicer for suggestions on how to solve it. If you, for instance, contacted Chase Student Loans, your original lender, they have nothing to do with your loan now, having sold their loan portfolio.
If you are having trouble making payments, you might ask about an income-driven repayment plan that could lower what you give the lender every month. You might suggest a loan deferment or forbearance. They are both payment strategies that allow you to temporarily stop making payments, but interest will likely accrue in both situations.
Talk to the Federal Student Aid Ombudsman
If you have a problem with your loan servicer—to the point that you aren’t getting any satisfaction and aren’t sure what to do—you may want to go to the U.S. Department of Education’s website and file a complaint with the Ombudsman Group, a resource designed to help resolve problems with federal student aid.
What if your student loans are with a private lender? Try contacting the Consumer Financial Protection Bureau by going to their website or calling them at 855-411-CFPB.
Does Chase still offer student loan refinancing?
Refinancing is when you turn your old student into a new one: Your old loan is immediately paid off, and you instantly have a new loan replacing it, one with better terms and conditions.
Granted, you can refinance with far worse terms and conditions, but if that’s the case, don’t refinance. Borrowers tend to refinance to do the following:
- Get a lower monthly payment
- Pay less in interest throughout the loan
- Secure more time to pay off the loan. For instance, you may want to pay the loan over 15 years instead of 10.
In other words, refinancing can help improve your loan terms—whatever that means for you. For some, refinancing could mean saving on interest. Others may pay more interest on a refinanced loan but have more time to pay it off or have smaller payments.
Unfortunately, Chase doesn’t offer refinancing for Chase student loans, since they are out of the student lending business and have sold those loans. (If your Chase student loans are owned by a different lender, that lender may allow you to refinance.)
Chase does offer refinancing for other loans, like home loans.
Can I refinance or consolidate my student loans from Chase?
You won’t be able to refinance or consolidate your student loans from Chase with Chase (they’re out of the student loan business), but you may with another student loan servicer.
For those unsure of the difference, a refinance is essentially a new loan, with better terms (such as a lower interest rate) that replaces your current one. A consolidation is when you take several loans, and the lender pays them all off and then you’re left owing one big loan. Some people feel it’s easier to pay off debt when it’s one loan, rather than several.
To refinance or consolidate student loans, lenders consider your credit history and income when deciding your eligibility and rate terms.
The requirements vary by lender, but most refi loans require the following:
- Good credit
- A strong income
- Possibly a creditworthy co-signer
If you’re ready to compare lenders, check out our picks for the best student loan refinance companies.
Generally, if you have federal student loans, it’s not advisable to refinance those with a lender that offers private loans. The terms tend to be much better with federal loans, and you may have more protections, such as loan forgiveness with the government, which you would likely lose with a private lender.
You also want to be careful about refinancing and especially consolidating loans. Consolidating loans is taking several loans and turning them into one manageable loan. That may be appealing—but if you don’t read the details carefully, you may later learn that you’re paying more in interest over the length of the loan than you initially realized.
Alternatives to Chase student loans
Chase Bank may be long out of the student loan business, but new student borrowers searching for loans to help fund their educational expenses have plenty of other alternatives. 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). Here are our top recommendations for alternatives to Chase student loans.
| Lender | Best for | Our rating |
| Dept. of Education | Federal student loans | Not rated |
| College Ave | Private student loans | 5/5 |
| Sallie Mae | Cosigners | 4.8/5 |
| SoFi | Member benefits | 4.7/5 |
| Earnest | Large loans | 4.7/5 |
Federal student loans
When you’re trying to decide how to pay for college, federal student loans are always the first place to start. They generally have better interest rates and terms than what you’ll find with private student loans.
There are four different types of federal student loans:
- Direct Subsidized Loans. These are for undergraduate students with a clear financial need as determined by the FAFSA (The Free Application for Federal Student Aid). The government pays the interest while you are enrolled in school.
- Direct Unsubsidized Loans. These aren’t need-based. The government doesn’t pay any interest accrued during deferment and while you’re in school.
- Direct PLUS Loans. These are for parents of dependent undergraduate-level students enrolled at least half-time at an eligible school.
- Direct Consolidation Loans. This is a type of loan that typically comes later in the college borrowing experience after you’ve been paying loans for a while. It’s for borrowers who have several federal student loans and feel it would be easier to manage if they were all combined into one.
If you max out the amount of money you can borrow from the federal government and still find yourself coming up short, that’s when you should turn to private lenders.
College Ave
Best for private student loans
Why it’s a top Chase alternative
College Ave is an excellent alternative to Chase student loans, particularly for borrowers seeking flexibility and competitive rates. Known for its straightforward application process and customizable loan options, College Ave offers private student loans that allow you to tailor your repayment terms to fit your budget and financial goals.
Borrowers can choose between various repayment plans, including interest-only or deferred in-school payments and loan terms ranging from five to 15 years.
What sets College Ave apart is its commitment to transparency and customer service, much like what Chase customers might have appreciated. With a strong reputation for ease of use and flexible terms, College Ave is a top choice for those looking for a reliable and adaptable student loan provider.
Loan details
| Rates (APR) | 4.22% – 17.99% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 5, 8, 10, or 15 years |
Sallie Mae
Best for cosigners
Why it’s a top Chase alternative
Sallie Mae is a terrific alternative for those who were considering Chase student loans, particularly for borrowers who may need a cosigner to qualify for the best rates.
Sallie Mae offers a wide range of private student loans with competitive interest rates and flexible repayment options. Adding a cosigner can benefit students or parents who need to boost their approval chances or secure a lower interest rate. Sallie Mae also offers a cosigner release option, allowing the cosigner to be removed from the loan after 12 consecutive on-time payments.
In addition to strong cosigner options, Sallie Mae provides resources and support similar to what Chase customers might expect, including financial tools and customer service, to help borrowers manage their loans. This makes Sallie Mae a strong contender for those seeking a familiar and supportive loan experience.
Loan details
| Rates (APR) | 3.99% – 15.70% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 10 – 15 years |
SoFi
Best for member benefits
Why it’s a top Chase alternative
SoFi stands out as a strong alternative to Chase student loans, especially for borrowers interested in more than just a loan—those looking for a full-service bank offering financial and career benefits.
SoFi provides competitive student loan refinancing and private student loans with no fees, but the extensive member benefits set SoFi apart. These include access to financial planning and networking events, which can be valuable for recent graduates starting their careers. SoFi’s commitment to customer service and its user-friendly platform makes it an excellent choice for those who value Chase’s customer support and banking features.
SoFi also provides a seamless online application process and a range of repayment options, making it easy for borrowers to find a plan that works for them. The combination of financial products and extra perks makes SoFi an appealing option for those who want more than just a student loan.
Loan details
| Rates (APR) | 4.19% – 15.86% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 5, 7, 10, or 15 years |
Earnest
Best for member benefits
Why it’s a top Chase alternative
Earnest is a standout alternative for borrowers needing to take out large student loans or seeking maximum repayment flexibility.
Unlike many lenders, Earnest allows borrowers to customize their monthly payments and loan terms to match their financial situation and repayment goals, benefiting those with significant loan amounts. This customization is complemented by competitive interest rates and the ability to refinance federal and private student loans.
For those who appreciate Chase’s financial flexibility and customer-centric approach, Earnest offers a modern and responsive alternative. Earnest’s focus on large loan amounts, user-friendly platform, and strong customer service make it ideal for borrowers who need significant funding for their education and want to manage their repayment on their terms.
Loan details
| Rates (APR) | 4.17% – 16.85% |
| Loan amounts | $1,000 – 100% of certified costs |
| Repayment terms | 5, 7, 10, 12, or 15 years |
FAQ
Does Chase offer student loans?
No, Chase no longer offers student loans. In 2013, Chase exited the student loan business and transferred its student loans to other loan servicers, primarily Navient. If you had a student loan with Chase, another servicer is now managing it.
Can I still apply for Chase student loans?
No, you cannot apply for Chase student loans anymore. Because Chase discontinued its student loan program in 2013, the bank no longer provides new student loans. If you’re looking for student loan options, we recommend considering federal student loans and our list of the best private student loans.
Recap of Chase student loan alternatives
| Company | Best for… | Rating (0-5) |
|---|---|---|
| Best for private student loans | ||
| Best for cosigners | ||
| Best for member benefits | ||
| Best for large loans |