Chase and consolidating student loans
In 2013, Chase announced that they would be ending their student loan program.
Thasunda Duckett, the chief executive for automotive and student loans, explained to the press that the company no longer believed that the market could grow significantly enough for Chase to stay in it.
Chase’s final student loan disbursements were made in March of 2014.
The most significant event that caused the dissolution of Chase Student Loans was Congress’ decision to allow the government to provide student loans directly to students.
This act can quickly transform your student debt from a confusing mess of loans with multiple lenders, interest rates and loan types into one big loan with one interest rate and one monthly payment.However, before anyone considers consolidating any kind of debt, they need to know what they are getting into.Consolidation can produce excellent benefits on the right candidate’s financial portfolio, but it can also wreak long-term havoc on the wrong candidate’s financial portfolio, as well.Chase can also help you manage your Federal Direct Loan Consolidation after you have graduated, combining any outstanding loans into one manageable monthly payment.
Managing your Federal loans through Chase allows you easy access to support staff and advice, while still taking advantage of the low fixed interest rates, payment deferment options and subsidies offered by the Federal government.
Previously, commercial banks like Sallie Mae acted as the middleman between the government and student loan borrowers.