Does Chase Bank Offer Student Loan Refinancing for 2025?

Student Finance & Loan Expert

From 2022 to 2023, $98.2 billion was allocated to student loans in the U.S. (Statista, 2023). This amount has decreased due to other financial aid options, yet federal and private student loans remain helpful for many students. However, the student loan market underwent substantial changes throughout the decades due to economic trends, policy shifts, and political transitions.

Chase Bank student loan refinancing has been a prominent option in this sector, but it is no longer available with these significant changes. Chase assured borrowers that it had established safeguards to support existing clients, but prospective borrowers may still need more certainty.

In this guide, we offer comprehensive information on the current status of Chase Bank’s student loan services, other refinancing options, and alternative solutions to help you fully explore various financial support. Moreover, we provide budgeting strategies and tips to aid you in managing your educational finances effectively.

Key Things You Should Know About Chase Bank Student Loans

In 2013, JPMorgan Chase & Co. (Chase Bank) stopped offering student loans. In 2017, it sold off its portfolio to Navient.
Graduates with Chase student loans were automatically transferred to a new servicer without changing their loan terms.
With these changes, borrowers have the opportunity to refinance their loans to obtain better offers.

Does Chase Bank still offer student loan refinancing?
What happened to my loans with Chase?
What can I expect from my new Chase Bank student loan servicer moving forward?
Should I refinance my Chase student loan?
What should I consider when refinancing my loans?
What are the pros and cons of refinancing student loans?
What if I can’t refinance my student loans?
How to Evaluate Lenders When You Have Limited or No Credit History
What precautions should borrowers take during loan servicer transitions?
Can online education reduce your reliance on student loans?
Can Online Certificate Programs Reduce Your Education Costs?
What are the best alternatives to Chase Bank for student loans?
What Emerging Trends Could Reshape Student Loan Financing?
When do you apply for student loans?
Can Student Loans Be Used for Rent and Other Living Expenses?
Can Affordable Online Bachelor’s Degrees Lower Your Overall Education Debt?
Can Senior Students Benefit from Online Education in Minimizing Debt Exposure?
How has Chase Bank's exit from student loans affected its customers?
What budgeting strategies can help with student loan repayment?
How to Secure Loans for Specialized Training Programs Like Aviation School
Should I Consider an Online MBA for a Career Change?
Other Things You Should Know About Chase Bank Student Loan Refinancing

Does Chase Bank still offer student loan refinancing?

No, Chase Bank student loan refinancing and other student loan services are no longer available. Instead, it provides refinancing services for other types of loans, such as mortgages and car loans.

Additionally, Chase only offers checking accounts, credit cards, and savings accounts for college students, with the first option also being offered to high schoolers.

According to reports from Reuters and Bloomberg, Chase Bank previously offered federal and private student loan services. However, the bank discontinued these services due to the federal government taking over loan issuance, increased regulatory demands for flexible terms, and a rise in student loan defaults (Henry, 2013; Scheer, 2017).

Chase sold a $6.9 billion student loan portfolio to Navient, a major student loan servicer at the time. This portfolio included $3.7 billion in federal student loans and $3.2 billion in private loans.

What happened to my loans with Chase?

Chase borrowers who were transferred to Navient would have received details about the transition. The original loan details remain the same, including interest rates, monthly payments, and repayment terms. However, with the switch, a new company will handle payments, customer service, and repayment plans.

In 2021, Navient did not renew its contract to service federal loans. This means that Navient’s federal student loans—including ones that used to be part of Chase—were transferred to Aidvantage, a division of the government loan servicing company, Maximus.

Old Federal Family Education Loan Program (FFELP) loans or any remaining private loans, will continue to be serviced by Navient until fall 2024. By then, Navient will once again transfer its loan servicing portfolio to a non-profit governmental corporation, MOHELA.

Unfortunately, both Navient and MOHELA have faced scrutiny in the past. Navient was subject to lawsuits due to allegations of deceptive practices, including costly long-term forbearance periods. Similarly, MOHELA encountered criticism when it had issues with delayed billing notices.

Lastly, in a recent blog, the U.S. Department of Education (ED) announced that MOHELA will transition to a new loan servicer within the year. Given these whirlwinds of transfers, all borrowers must be updated to stay on top of their loan management, including Chase Bank student loan refinancing.

What can I expect from my new Chase Bank student loan servicer moving forward?

It can be challenging to keep track of your loans, especially if they originated a decade ago. Therefore, it’s important to stay in contact with your servicers. Keep in mind that loan servicers and loan lenders are different.

The former acts as intermediaries, handling administrative tasks such as processing payments, managing accounts, and addressing borrower inquiries. In contrast, the latter issues the loan, collects payments, and enters into the loan agreement with the borrower.

The ED lends federal student loans while private companies, such as banks or other financial institutions, own private loans. Both lenders often work with third-party servicers to oversee interactions with borrowers. In some cases, the private lender may also be the loan servicer.

To identify your loan servicer, you can take any of the following steps:

View the “My Loan Servicers” section in your Federal Student Aid (FSA) account. Currently, the FSA recognizes seven servicers for federal student loans.
Check the National Student Loan Data System for information on your servicer, loan amounts, outstanding balances, or loan disbursements.
Review your credit reports from TransUnion, Experian, and Equifax, the three major credit bureaus, to find details about your private loan.

Once you determine who your new servicer is, be sure to do the following:

Update your contact information.
Create an online account.
Enable auto-pay (if applicable).
Discuss or review repayment, forbearance, and deferment options or other offers with your new loan servicer representative.

Typically, during a loan servicer transition, borrowers will receive notifications from both servicers, providing details about changes to payment systems or other relevant updates.

Should I refinance my Chase student loan?

Part of college planning for high school students is exploring all options to ensure you make the most out of your financial aid program. If you have or plan to have multiple federal loans, you can opt to consolidate them through the Direct Consolidation Program. This lets you choose your servicer and lower your monthly payments by extending your repayment term. However, this program will increase your interest rate.

Refinancing loans means combining several private and/or federal loans into a new, single loan offered by a private lender. This option usually provides borrowers with lower interest rates. However, if you choose to refinance a federal loan, you lose federal borrower privileges.

You can choose Chase Bank student loan refinancing if you fit the following:

Your credit score has significantly improved.
You want to get a lower interest rate for several loans.
You want to switch from variable to fixed rate.
You wish to shorten the loan repayment term.
You have a steady and high income.
You do not need federal borrower privileges.

According to the FSA, students with a Direct Consolidation Loan can convert their variable-rate loans to a fixed interest rate for the loan’s duration. The fixed rate is the weighted average of the interest rates on the consolidated loans, rounded up to the nearest one-eighth of one percent. Meanwhile, Direct Subsidized and Unsubsidized Loans have a fixed rate of 6.53% for undergraduate borrowers.

In contrast, private loans have an interest rate of around 4.07% to 16.07%, depending on your creditworthiness and the lender’s terms (Safier et al., 2024). It is important to keep this in mind when consolidating your loans or completing a Chase Bank student loan refinancing to ensure you can pay off your loans responsibly.

What should I consider when refinancing my loans?

If you’re committed to Chase Bank student loan refinancing, it’s crucial to consider several key factors. Evaluating aspects such as interest rates, loan terms, repayment options, and the reputation of potential lenders can affect not only your credit score but also your financial future stability.

Prequalification: Get a preliminary assessment to gain a better understanding of the loan amounts and terms you might be eligible for.
Different Rates: Research different lenders and compare their flexibility of interest rates. Compare each vendor's fixed and variable annual percentage rates (APRs).
Additional Costs and Fee Waivers: Be aware of any fees associated with managing your loan, such as late payment or origination fees. Likewise, consider vendors that do not charge these fees or offer discounts under specific conditions, like enrolling in automatic payments.
Repayment, Forbearance, and Deferment: Compare the rates for each repayment plan. Moreover, ensure that the lender offers options for forbearance and deferment during financial hardships or for certain programs and professions.
Customer Service Quality: Look for a provider known for prompt and helpful customer service. Read reviews from current or past clients and ensure the vendor offers multiple support channels.
Reputation and Stability: Research the lender’s reputation in the industry. Look for any red flags, such as frequent complaints or lawsuits.
Special Programs: Some servicers offer loyalty programs or additional benefits for their customers, like career support services, educational resources, or financial wellness tools.

In A.Y. 2022–2023, Direct Unsubsidized Loans were the most distributed type of federal loan at $43.7 billion, followed by Direct Subsidized Loans at $15.3 billion. Nonfederal loans, which included private loans, were the third most utilized, with $14.7 billion lent during the same period, according to the College Board (Ma & Pender, 2023).

In Direct Unsubsidized Loans, borrowers are responsible for paying the interest, rather than the government. Despite this, they remain more popular than private loans because students do not need a credit check nor demonstrate financial assistance to qualify, and they can generally borrow between $31,000 and $57,000. Therefore, future college students must remember this before choosing a private loan or a Chase Bank student loan refinancing option.

The chart below shows the total amounts borrowed by type of loan, based on the College Board’s report.

What are the pros and cons of refinancing student loans?

Completing Chase Bank student loan refinancing procedures can be strategic, offering potential benefits such as lower interest rates and simplified payments. However, students with existing loans and those planning to avail of this financial aid must weigh the advantages and disadvantages to determine whether it aligns with their financial goals.

Pros:

Lower Interest Rates: Potentially reduce your interest rate, saving money over the life of the loan.
Single Monthly Payment: Consolidate multiple loans into one, simplifying your repayment process.
Versatile Repayment Periods: Many private lenders with refinancing services offer repayment periods ranging from three to 15 or 20 years.
Improve Credit Score: Making consistent payments on a refinanced loan can positively impact your credit score.

Cons:

Loss of Federal Benefits: Refinancing federal loans with a private lender means losing access to benefits, such as forgiveness programs, income-driven repayment options, or more flexible repayment plans.
Qualification Requirements: Refinancing requires a good credit score and stable income, which may be challenging for some borrowers.
Fees and Costs: Some lenders charge origination fees or prepayment penalties that can offset the savings from a lower interest rate.
Variable Rates Risk: Choosing a variable interest rate can lead to higher payments if rates increase in the future.

What if I can’t refinance my student loans?

Borrowers struggling to refinance their student loans have several options to manage their debt effectively. Understanding these options and taking proactive steps can help reduce your financial burden.

Get a Co-Signer: Consider adding a co-signer with strong credit to your application. A co-signer can enhance your chances of approval and potentially secure better loan terms by demonstrating added financial reliability.
Improve Your Credit Score: Focus on improving your credit score by paying bills on time, reducing debt, and correcting any inaccuracies on your credit report.
Deferment or Forbearance: If you’re experiencing financial hardship, you might qualify for deferment or forbearance, which temporarily pauses or reduces your payments.
Seek Employer Assistance: Some employers offer student loan repayment assistance as part of their benefits package, which can help reduce your loan balance more quickly.

Statistics reveal that U.S. adults had varied confidence levels regarding their ability to repay their student loans. Specifically, 28% of Americans were certain they would fully pay off their debt, while 19% were confident they could not repay their loans at all (Statista, 2024).

Various factors affect debt repayment, so borrowers must track their loan payments carefully. Making necessary adjustments and having contingency plans can help prevent being trapped in long-term debt.

The chart below further sheds light on the confidence levels Americans have in paying off their debts.

How to Evaluate Lenders When You Have Limited or No Credit History

Selecting a lender when you have limited or no credit history requires careful evaluation, as this factor significantly influences loan approval and interest rates. Students lacking credit history often feel discouraged when seeking funding; however, many lenders accommodate these circumstances by offering tailored solutions.

One approach is to prioritize lenders specializing in student loans for undergraduates with no credit history. These lenders typically assess other aspects beyond credit scores, such as academic performance, future earning potential, or the presence of a cosigner. Additionally, some financial institutions provide loans specifically for students with alternative credit criteria, demonstrating increased flexibility.

When choosing a lender, make it a point to analyze their offerings in terms of interest rates, repayment options, and customer service reliability. Look for fixed interest rates to ensure stability in monthly payments and avoid unpredictable financial strain over time. Repayment plans that adjust to your circumstances—such as income-driven repayment—can also be instrumental in managing loans effectively.

Moreover, research lender reviews and ratings to ensure they have a strong reputation for transparency and borrower support. Ask questions about grace periods and deferment policies for uninterrupted academic focus. Taking these steps empowers students to secure funding without undue burdens, even if they initially lack traditional credit metrics.

What precautions should borrowers take during loan servicer transitions?

When navigating a transition between loan servicers, borrowers should verify the new servicer’s credentials by confirming official communications and cross-checking with lender websites. It is critical to review updated terms and conditions immediately upon receipt to identify any discrepancies in interest rates, fees, or payment schedules. Maintaining detailed records of all notifications and payment histories enables prompt resolution of any errors during the transfer. Additionally, routinely monitoring credit reports can help detect inconsistencies that may affect your credit profile. Exploring specialized options, such as student loans for part time students, may also provide tailored financial solutions in situations where servicing adjustments result in unique borrowing challenges.

Can online education reduce your reliance on student loans?

Accredited online programs often present a cost-effective alternative to traditional campus-based education by offering competitive tuition rates, reduced fees, and flexible scheduling that enables part‑time work or study. Leveraging these benefits can minimize overall debt while still providing quality training and career-readiness. Evaluating program accreditation, curriculum quality, and career outcomes is essential to ensure long‑term value. For a list of recognized institutions, consider reviewing the top online colleges.

Can Online Certificate Programs Reduce Your Education Costs?

Exploring non-degree training options can offer a cost-effective pathway to acquiring in-demand skills without the extensive debt associated with traditional education. Many accredited programs are designed to deliver targeted learning outcomes over a shorter duration, which can lead to reduced tuition fees and lesser financial risk. Furthermore, leveraging the expertise of specialized educators in these settings enables learners to quickly adapt to evolving industry demands. For further insight into these alternatives, consider evaluating options from online certificate schools to determine if their offerings align with your professional goals while minimizing education costs.

What are the best alternatives to Chase Bank for student loans?

With Chase Bank student loan refinancing services out of the picture, you can turn to several financial aid alternatives to student loans. If you’re still a high school student, be sure to explore these options to minimize your overall educational expenses.

Scholarships: Awarded based on academic merit, financial need, or other criteria, scholarships are sources of financial aid that do not need to be repaid. They can come from universities, private organizations, or government programs.
Grants: Typically need-based, grants are financial awards that do not require repayment. Common sources include federal grants like the Pell Grant and state-specific grants.
529 Plans: These tax-advantaged savings plans allow families to save for education expenses. However, it’s important to consider how much can you contribute to a 529, as contribution limits vary by state and plan.
Federal Student Loans: Compared to private loans, federal loans have lower interest rates, more flexible repayment plans, and other benefits, like forgiveness and income-driven repayment programs.
Work-Study Programs: These federally funded programs provide part-time jobs for students with financial needs, allowing them to earn money to cover educational expenses.
Tuition Reimbursement: Some employers offer tuition reimbursement programs as a benefit, covering part or all of the cost of education for employees.
Fellowships: Often available for graduate students, fellowships provide financial support based on academic or research excellence and may include a stipend or living expenses.

According to data from the National Center for Education Statistics, 57.6% of students at public four-year institutions received institutional grants and scholarships during A.Y. 2021–2022 (NCES, 2023). In contrast, 83.9% of undergraduate learners at private four-year institutions were awarded similar financial aid.

These percentages significantly exceed the proportion of students who received student loans. Therefore, prospective students should utilize free financial aid programs, such as grants and scholarships, before considering student loans to avoid facing debt.

The chart below shows the share of enrolled students who received different types of financial aid, by type of institution from 2021 to 2022.

What Emerging Trends Could Reshape Student Loan Financing?

Financial technology advances and evolving regulatory frameworks are driving significant changes in student loan financing. Digital platforms are now streamlining application processes and enhancing transparency by offering real-time updates on interest rates and repayment options. Concurrently, increased government focus on consumer protection may lead to more stringent regulatory oversight, fostering improved loan servicing practices. Additionally, collaborations between lenders and educational institutions are expanding alternative funding options, with some programs partnering with organizations such as military friendly university to offer innovative financing solutions. Staying updated on these emerging trends can help borrowers strategically adjust their financial planning in response to market shifts.

When do you apply for student loans?

Evaluating the optimal timing for a student loan application is essential to secure favorable terms and avoid funding gaps. Key factors include aligning your academic calendar with federal or private program deadlines, assessing your current financial situation, and preparing necessary documentation ahead of time. Moreover, understanding the nuances of interest accrual periods and repayment start dates can influence your long-term financial strategy. For a comprehensive analysis of timing and critical benchmarks in the application process, consult When do you apply for student loans?.

Can Student Loans Be Used for Rent and Other Living Expenses?

Many student loan programs provide disbursements that not only cover tuition and fees but also include allocations for living expenses. However, the extent to which these funds can be applied to costs such as rent varies by loan type and provider. Federal student loans, for instance, often incorporate estimated living costs within the overall loan amount, while private loans might restrict their use more narrowly, focusing primarily on direct educational expenses. Prospective borrowers should review the guidelines associated with their specific loans to ensure that funds intended for essential living costs are utilized appropriately. For a detailed evaluation, consult the latest regulatory and financial advisories relevant to your funding arrangements, as covered in our article Can you use student loans for rent?

Can Affordable Online Bachelor’s Degrees Lower Your Overall Education Debt?

Exploring cost-effective educational pathways can significantly alleviate long-term debt burdens. Affordable online bachelor’s programs often provide quality curricula with lower tuition fees compared to traditional campus-based courses. This alternative not only minimizes the need for extensive borrowing but also enhances financial planning through predictable costs and flexible study schedules, enabling students to balance part‑time work or internships. Evaluating program accreditation, potential career outcomes, and industry partnerships is critical to ensure that the chosen courses meet professional standards while reducing overall debt commitments. For insights into budget-friendly options, review the list of cheap online colleges.

Can Senior Students Benefit from Online Education in Minimizing Debt Exposure?

Mature students often face distinct financial challenges, and non‑traditional education options may offer an effective strategy to reduce debt dependency. Accredited online programs are designed to provide accelerated learning and predictable costs that align with evolving career demands without the burden of extensive borrowing. This approach can deliver targeted skills and flexible scheduling while maintaining a prudent financial profile. For insights specifically tailored to mature learners, explore online college degrees for seniors.

How has Chase Bank's exit from student loans affected its customers?

Borrowers can be impacted when their loan servicers change. In some cases, changing loan servicers may create a new tradeline, which zeroes out the balance of the original loan and closes the account on the borrower's credit report. For federal loans, this may show up as "paid in full," but it does not mean the loans were forgiven. You must continue making payments to avoid the risk of default.

Private loans experience similar effects, with the new servicer's account appearing separately on your report. This can cause a slight dip in your credit score, as the addition of a new account lowers the average age of all your credit accounts. While this change shouldn't have a long-term impact on your credit score, any discrepancies in account updates, leading to missed payments, can have a negative effect.

Therefore, former Chase student loan borrowers should stay in touch with their current servicer for clarification and keep communication channels open for any updates.

What budgeting strategies can help with student loan repayment?

Implementing effective budgeting strategies can ease the burden of student loan repayment, help you stay on top of your finances, and reduce debt. Consider practicing the following tips to manage your payments more responsibly.

Create a Detailed Budget: Track your income and expenses to understand where your money is going and identify areas where you can cut costs.
Prioritize Debt Payments: Allocate a specific portion of your budget towards student loan repayment, ensuring its priority.
Emergency Fund: Build and maintain an emergency fund to cover unexpected expenses without disrupting your loan payments.
Automate Payments: Set up automatic payments to avoid missed payments and possibly qualify for interest rate reductions.
Cut Unnecessary Expenses: Identify and eliminate non-essential expenses to free up more money for loan repayment.
Increase Income: Consider part-time jobs, freelancing, or side hustles to boost your income and pay off loans faster.

How to Secure Loans for Specialized Training Programs Like Aviation School

For students pursuing specialized education, such as aviation training, securing funding often comes with unique challenges. These programs can have high tuition costs and specialized equipment fees, which may not be fully covered by traditional student loans. However, several loan options are designed specifically to support such endeavors.

Federal Loan Options for Specialized Training

If your aviation program is accredited and qualifies for federal aid, federal loans can be a great starting point. Federal Direct Subsidized and Unsubsidized Loans are accessible to students enrolled at least half-time in eligible programs.

Pros: Lower interest rates, flexible repayment options, and borrower protections.
Cons: May not cover the full cost of attendance for high-cost programs like flight school.

Private Loans for Aviation Training

For students who need additional funding beyond federal aid, private student loans tailored for aviation programs can be a viable solution. Many private lenders offer loans with higher borrowing limits and terms designed for specialized training.

Example: Loans from lenders such as Sallie Mae or Wells Fargo, which cater to students in vocational and technical schools.
Considerations: Pay close attention to interest rates, loan terms, and repayment flexibility.

For a comprehensive guide on loans designed for aviation programs, including lenders that cater to students without traditional credit or cosigners, visit our detailed resource on aviation training loans.

Should I Consider an Online MBA for a Career Change?

An online MBA can provide tailored skills that enhance career mobility while mitigating the burden of student loan debt through improved earning potential. Evaluating programs that emphasize innovative problem-solving, leadership, and strategic financial management may offer a dual benefit—making you a competitive candidate in evolving job markets and affording more robust repayment strategies. For more insights on how an online MBA career change can align with your financial and professional objectives, analyze accreditation standards, alumni outcomes, and program cost structures to ensure long-term value.

Key Findings

Chase sold a $6.9 billion student loan portfolio to Navient, which included $3.7 billion in federal student loans and $3.2 billion in private loans. This makes Chase Bank student loan refinancing and its other student loan services obsolete.
Direct Subsidized and Unsubsidized Loans have a fixed rate of 6.53% for undergraduate borrowers. In contrast, private loans have an interest rate of around 4.07% to 16.07%
In 2022–2023, Direct Unsubsidized Loans were the most distributed type of federal loan at $43.7 billion, followed by Direct Subsidized Loans at $15.3 billion. Nonfederal loans, which include private loans, were the third most utilized, with $14.7 billion.
28% of Americans were certain they would fully pay off their debt, while 19% were confident they could not repay their loans at all.
57.6% of students at public four-year institutions received institutional grants and scholarships. In contrast, 83.9% of undergraduate learners at private four-year institutions were awarded similar financial aid.

Other Things You Should Know About Chase Bank Student Loan Refinancing

Can refinanced loans be forgiven?

Refinanced loans typically do not qualify for federal loan forgiveness programs. When you refinance, you replace your existing loans with a new private loan. If your original loans were federal and you refinance them with a private lender, you forfeit forgiveness options for the refinanced portion of your debt.

Are Chase student loans federally backed?

Chase Bank used to offer services for both federal and private student loans until it sold its student loan servicing portfolio to Navient. Chase no longer offers new student loans or refinancing services. It does, however, have savings, credit cards, and checking services for college students.

Does refinancing a student loan hurt credit?

Chase Bank student loan refinancing, or refinancing any private student loan, can have a temporary impact on your credit score. Prequalifying for refinancing includes a soft credit inquiry, which has no effect on your credit score. However, if you submit a formal application, the lender will perform a hard credit inquiry, which may impact your score. This is generally short-lived and could be worthwhile if it helps you secure better loan terms.

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