Phoenix, Arizona
Not resolved

At the beginning of June 2008, I decided to apply for a private student loan through Chase to help cover my tuition and college-related expenses. It is now July 22nd, 2008 and I am still waiting to receive the funds from my loan.

After submitting my application online, I received immediate notification that I was conditionally credit approved, pending the receipt of the required documents (i.e. promissory note, copy of driver's license, and proof of residence.)

I just called Chase, and after waiting for 15 minutes, I finally got a representative on the phone who then took nearly 5 minutes to get me transferred to a supervisor. I calmly explained that I was concerned about the fact that I have not yet received my student loan check, and that I was really concerned about the timeliness, or lack thereof, surrounding the entire application process.

I explained the difficulty that I had with getting my address approved which significantly extended the amount of time it took for processing. As a student, on average, I move about once a year, and for reasons surrounding identity theft protection, I have used a Post Office box for the past four years for all of my mail. However, Chase refused to use my PO Box as my permanent address, and required that I send them a piece of mail to verify my permanent address. I explained over and over again that I do not receive any mail at my physical address, and offered sending a copy of my lease. They wouldn't accept it because it had portions that were hand-written due to the fact that I wasn't renting from a company, and was renting from an individual. Once I finally tracked down a utility bill that had both my PO Box and permanent address, it took 3 days for a supervisor to approve the document and address. 3 days??

All documents were finally approved on Friday, July 11th, and the check should have been mailed the same day. However, here it is, July 22nd, and I still have no check. I asked the supervisor if she knew why it took 10 business days to mail a check, and she said that it's because they have "no control over the post office." I agreed that they don't, but I also stated that they have control over the means in which they mail something. Could they not charge an extra fee in order to allow them to expedite the item so that it arrives sooner?

I asked if they were going to reimburse me the extra cost I will have to pay when I'm unable to purchase used books because they've all sold out, and have to spend extra money for new books. She said that it wasn't their policy to do so. I should have told her that it's not my policy to wait 10 business days for a check.

I asked her to verify which address the check was mailed to, and she said she was almost sure (due to the notes on my account) that it was mailed to my PO Box, but couldn't be sure.

The fact that one of the largest financial institutions in the world requires 10 business days to successfully mail a check boggles my mind and proves that they are unwilling to spend money to ensure a better customer experience. They are also unwilling to update their procedures and technology in order to expedite the entire application and dispersal process.

At this point, it's very clear to me that their priorities do not revolve around customer service and satisfaction, but revolve around ensuring that their executives and shareholders maintain nice, fat wallets.

If you need a student loan, DO NOT apply with Chase, unless you have at minimum, two full months available before you could possibly need the funds."

Product or Service Mentioned: Chase Bank Loan.

Monetary Loss: $15.

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Chase Student Loans is an absolute JOKE! Trying to get forbearance as I am unemployed but actively looking for work and they say I don't qualify.

Their reasoning behind it is that based on my current jobless situation there is no way for them to guarantee I will make the payment when the forbearance expires! Isn't that what this option is supposed to do is help you through times when you are unable to pay the bill? If jobless and struggling to get by affording a place to live much less extra loan payments isn't a good reason then what is?

Basically you have to die to ever get anywhere with them when it comes to getting a break from payments! I HIGHLY recommend Great Lakes Student Loans for all you lending needs and do everything you can to avoid Chase.


I have had the absolute worst time with Chase Student Loans. I unfortunately had to take out student loans to fund my schooling and was "lucky" enough to get 4 loans through Chase. Every since I had to start paying they have been ridiculous to work with. My monthly payment is outrageous and only continues to climb up even if I make on time payments and over the amount owed. For the past 4 years that I have been paying I have not paid the same amount twice owed because of how quickly the loan continues to go up.

While I was in school, I called Chase and asked for a deferment because of the in school status I had. I was repeatedly told that my loans were deferred. Well 4 months later I received a letter in the mail stating I was this far behind and that this has been posted on my credit. 3 years later I am still fighting with Chase for them to fix my credit and some how they do not recall this conversation, which is quite hilarious when everything they do is recorded.

Currently, I am dealing with them again because I recently lost my job and was trying to request a hardship forbearance and I was denied. I asked for a 4 month forbearance so I could get back on my feet and find a job. They would not give me the specifics as to why I was denied and was told I was going to receive a letter in the mail at some point with the specifics. They will not even help me by lowering my payment for a few months.

My other loan provider had no problem helping me and granted it immediately. If you have the choice DO NOT go through Chase Student Loans. No one there really knows what they are doing and it usually takes 3 or 4 phone calls to get anything done.

I have been trying desperately to consolidate with another provider and since they trashed my credit, I have been unable to. Be smart & stay away!


wow, this is THE worse student loan ever. I wish I had read some reviews before getting it.

I got this my sophmore year in college and decided to pursue a graduate degree. Imagine to my surprise halfway through my PhD when I started receiving 6 phone calls per day from chase! 6!

I phoned back finally and they said Ohhh you are in still school. Sorry about the harassing phone calls. You need to fax documents affirming you are still in school. So I printed the documents, went to the registrars got it notified and faxed it.

1 week later phone starts ringing off the hook again!

I call back obviously extremely pissed at this point. Apparently the loan can only be deferred for 5 yrs maximum. So my 3 yrs in college plus 2 yrs in Phd was past the 5 yr mark and it was now in repayment. While I was still in school!

WTF??? Hate them. so much.


chase is awful, i lost my job, and my husband and i both have loans through chase, he has been paying his loans for nearly 3 years and we have just missed our first payment we called to get a forbearance, just for 2 months and they denied it saying it did not appear to be short term that is a bunch of ***, by the time we can pay another payment we will be too far behind to catch up, please no one use this company if you need a loan they will not work with you when you get into financial trouble


My sister took out a loan with Chase and then she had financial troubles later down the line. If she was late one minute on her loan, they would begin calling me day and night for days on end.....on the weekends, beginning at 8:00 in the morning and ending at 9:l00pm.

It was absolutely awful. I had to change my phone no. the harassment was so bad.

I didnt mind paying her bill when she fell behind but CHASE is merciless in making sure they get their payment...and they dont mind starting the first minute a payment is late. AWFUL EXPERIENCE...AWFUL COMPANY....RUN, RUN, RUN AWAY!!!


I would never ever recommend anyone to take our a private student loan with Chase. They refuse to help you if you hit hard times.

There forbearance policy is ridiculous. I am currently unemployed, and I have falling behind on a few payments. They basically refuse to work with you, and prefer to send you straight to another collections agency. They denied my request for forbearance for no good reason.

Chase is not helpful at all.

Avoid at all cost! :x :cry


If you can avoid Chase for your student loans I recommend doing so! I put myself through undergraduate and needless to say I have one other private loan beside my Chase private student loan. After graduation I joined the AmeriCorps. My other private loan lender placed my loan into forbearance for me without me even sending in a letter explaining my situation. Chase has refused to do so because I have a co-signer and they say my co-signer should make my payments then. Yet on my other loan i have the same co-signer and that lender never said that to me.

Furthermore, the customer service representatives that I spoke to were rude. Also, it took over a week for a supervisor to call me back, and once the supervisor called me back she was rude, yelled at me, and then proceeded to hang up on me.

All I can say is if you are putting yourself through college and would like an to deal with a courteous lending agency who has great customer service and forbearance policies, then don't borrow from chase.


Run away from Chase Bank as fast as you can! Getting rid of my son's horrific student loans has been a nightmare.

CHASE BANK'S CUSTOMER SERVICE IS A JOKE! I wouldn't deal with Chase AT ALL if you can help it!


i also did the chase private student still waiting, any luck with you guys? i finally faxed in all my stuff, so im hoping that that fat check will be in the mail soon


Sophy, if I were you, I'd see if any local credit unions offer deferred student loans. If they do, you should apply with them.

You'll be able to close in a branch with a person instead of over the phone faxing documents. I wish I had done that in the first place.


I am going through a similar problem with Chase right now. I applied for a student loan in the beginning of July 2008.

Now, it's the end of August and school already started for me, still no loan. I faxed them all my documents like three times, I been calling them the past month like twice a week and being put on hold for like 15 min every time. They kept telling me the same thing that it hasn't been process yet.

Then, to call them back in like 48 hours. I want to give up on them, but I need the loan for school.


I know what you are talking about We are going something with Chase. I just got out of the military and my wife had a private student loan through CHASE and after two years had sold the loan and the people Chase sold to another company now this company is making us pay the next month and as well I believe the interested rate went up.

I believe it is at 8 or 10% interested.. THATS more than i pay for my car and credit cards....