CHASE PRIVATE
CONSOLIDATION LOAN
REPAYMENT EXAMPLE
The table below shows repayment examples for a Chase Private Consolidation Loan. Repayment begins approximately 45 days after the consolidation loan is funded.*
| Repayment of Principal and Interest | ||
| Lowest Rate | Highest Rate | |
| Amount Provided | $10,000 | $10,000 |
| Origination Fee | $0.00 | $0.00 |
| Principal Amount of Loan | $10,000 | $10,000 |
| Interest Rate (LIBOR + Margin)** | 5.00% (LIBOR + 4.75%) | 10.25% (LIBOR + 10.00%) |
| Repayment Period | 240 months | 240 months |
| Monthly Payment Amount (Assuming variable rate remains constant) | $66.00 | $98.16 |
| Annual Percentage Rate (APR) | 5.00% | 10.25% |
| Total Finance Charge | $5,838.94 | $13,559.44 |
| Total Amount Paid | $15,838.94 | $23,559.44 |
** LIBOR Index of 0.25% is effective January 1, 2010. Minimum payment amount per $1,000 borrowed is $6.60 at the lowest rate and $9.82 at the highest rate.
*Important Information: Chase Private Consolidation Loans are subject to credit approval, receipt of a completed and signed loan application/promissory note, verification of application information and acceptance of loan terms. Only private education loans that are in good standing from eligible Title IV schools may be included. Federal education loans are not eligible under this program. Minimum loan amount is $7,500, with a cumulative borrowing limit of $150,000, based on credit eligibility. Other terms and conditions apply. Please contact us for details on eligibility criteria.
Chase does not sell these loans to another lender.
Student loan consolidation may extend your repayment term, increasing your overall financial obligation. However, your monthly loan payments may be reduced. You can choose to prepay principal with no prepayment penalties, which reduces the overall cost of your loan.
These repayment examples may not reflect your specific interest rate and loan amount. A Loan Approval Disclosure Form will be provided to you with your loan details after your application is approved.
**Interest rates are variable and may increase after consummation of the loan, but will not exceed the maximum rate allowed by Ohio state law, which is 25%. The rates used in these examples are based on a margin plus the London Interbank Offered Rate (LIBOR) Index and may vary. The rates will be calculated quarterly on the first day of each January, April, July and October by adding a margin to the three-month LIBOR rate published in the "Money Rates" section of the The Wall Street Journal on the fifteenth day of the month prior to each of the month listed above (rounded to the nearest one-hundredth percent (0.01%)). If The Wall Street Journal is not published or the three-month LIBOR rate is not given on that date, then the three-month LIBOR will be determined by using the immediately preceding published date.
Any increase will result in either a higher payment amount or more payments by extending your term. Rates may vary depending on the creditworthiness of the borrower and cosigner. Being approved with a cosigner will reduce the interest rate by 0.50% from the rates shown above.
This information was current as of 02/01/2010 and is subject to change. Contact Chase for the most up-to-date product terms.
Chase does not sell these loans to another lender.
Student loan consolidation may extend your repayment term, increasing your overall financial obligation. However, your monthly loan payments may be reduced. You can choose to prepay principal with no prepayment penalties, which reduces the overall cost of your loan.
These repayment examples may not reflect your specific interest rate and loan amount. A Loan Approval Disclosure Form will be provided to you with your loan details after your application is approved.
**Interest rates are variable and may increase after consummation of the loan, but will not exceed the maximum rate allowed by Ohio state law, which is 25%. The rates used in these examples are based on a margin plus the London Interbank Offered Rate (LIBOR) Index and may vary. The rates will be calculated quarterly on the first day of each January, April, July and October by adding a margin to the three-month LIBOR rate published in the "Money Rates" section of the The Wall Street Journal on the fifteenth day of the month prior to each of the month listed above (rounded to the nearest one-hundredth percent (0.01%)). If The Wall Street Journal is not published or the three-month LIBOR rate is not given on that date, then the three-month LIBOR will be determined by using the immediately preceding published date.
Any increase will result in either a higher payment amount or more payments by extending your term. Rates may vary depending on the creditworthiness of the borrower and cosigner. Being approved with a cosigner will reduce the interest rate by 0.50% from the rates shown above.
This information was current as of 02/01/2010 and is subject to change. Contact Chase for the most up-to-date product terms.