Chase Tip: Just like federal loans, many lenders allow you to defer a private student loan. Chase gives undergraduates several deferment options with their private student loan. You can defer interest and principal for up to four years while you're still in school. Approximately four months after graduation, repayment is expected to begin. Another option is to pay only the interest and defer the principal amount for the four years you are in college. The final option is not to defer at all and begin immediate repayment of both the interest and principal. Most students choose to defer the entire amount until after they have graduated from college and have a job to repay the private student loan.
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|Jennifer Mathes, Ph.D.|