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NBC News
updated 2/7/2011 8:07:26 AM ET 2011-02-07T13:07:26

Following is the full text of JPMorgan Chase's response to NBC News' report on military loan policy:

As a policy, Chase tries to go above and beyond what is required in the Servicemembers Civil Relief Act, including allowing members of the military to defer payment of their student loans while they are on active duty.  Any customer who was granted a payment deferment under this policy will continue to receive this benefit throughout their period of active duty service.

We recently opted to change the automatic deferment program for new participants only.  We continued the program for those already in it and continued to provide all servicemembers with other SCRA benefits they're entitled to.  Upon review, we have decided to reinstitute the loan deferment for all active duty servicemembers who request it. 

If any servicemember is having an issue with the deferment status on their Chase student loan, they should call us 866-361-8020 and we’ll fix it.

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