chase education loans

Chase education loans are one of the many ways students can get financial aid. There are so many ways available, your head can spin!

To stop your head from spinning, get a free education guide that gives you easy, step by step directions to getting massive amounts of financial aid.

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The guide gives you a huge amoung of other information also. Information on degrees, getting free grants, and information on 1900 colleges and universities.

Are you looking for some useful information about federal student loans for the 2008 to 2009 academic year? Check this:

To obtain a federal subsidized Stafford loan, you need to be an undergrad or grad student. As far as eligibility goes, it is need based. You have to apply by using FAFSA (the free application for federal student aid). The minimum loan amount is one hundred dollars. The maximum loan amount differs, depending on what year you are and whether you are an undergraduate or not. If you are a first year student, you can get up to $5,550. If you are a second year student, you can get up to $6500. In years 3,4, and 5, you can get 7500 per year. If you are a graduate student, you can get up to 20,500.

The cumulative loan limits for a federal subsidized Stafford loan, if you are an dependent undergraduate, is 31,000.

If you are an independent undergraduate, you can get up to 57,000. If you are a graduate, the amount of your loan can be as much as 138,500. (Wow, that is a big loan. You had better have good job prospects if you are going to borrow that much. Maybe the Obama administration will do some serious loan forgiveness if you take a public service type of job or go into the peace corps.

The interest on a federal subsidized loan: the federal government pays the interest while you are in school and it also pays it while a grace and eligible deferment period is in place.

The interest rate is six percent if you are an undergrad and 6.8 percent if you are a graduate.

What about the repayment period? You have up to 10 years, unless you get an extended repayment plan.

How about your repayment choices? The standard repayment is for fixed monthly payments during a 10 year maximum. You can do graduated repayments, which are lower payments that gradually increase over the repayment period. finally, there in the income-sensitive extended. The extended is a monthly payment amount that adjusts annually based on your expected total monthly gross income.

There is a grace period you should know about. It is six months after graduation or leaving school.

The default fee is up to once percent deducted from the loan amount.

Finally, the origination fee is up to once percent deducted from the loan amount.