This time of year is rife with high school seniors deciding which colleges they will attend the following year. Additionally, many other students are awaiting the approach of July 1, 2007, the date when new rates for existing variable rate student loans may take effect.

NextStudent, a leading Phoenix-based education funding company, recommends that borrowers begin to consider their student loan consolidation options as early as possible to lock in the best rates and terms. When students with multiple student loans consolidate their student loans with NextStudent, they are simplifying their lives with only a single payment required for their student loan portfolio. By consolidating, it is possible to reduce monthly payments by up to 60 percent and eliminate the hassle of dealing with multiple payments to different lenders.
Do Your Homework When Selecting a Consolidation Lender

Many borrowers use their colleges’ recommended lenders, more commonly referred to as the Preferred Lenders List, to select their consolidating lender. Instead, it is wise to check out ALL options, starting with a college’s financial aid office. Ask the financial aid administrator for a list of lenders in addition to the preferred or recommended lender list, and then research each company. In other words, do your homework, and do it well.

Since there are many significant differences with respect to the character, ethics and quality of a lender, borrowers must be selective and carefully choose their lender. They may want to consider and compare the reputation and integrity of the company, level of customer service provided, and the individual student loan consolidation incentives offered.

Students Benefit with NextStudent’s LOCKED Discount

Since the federal government sets the base interest rate on student loans, the only differences with consolidation loans are the incentives offered by each individual company. NextStudent is committed to providing outstanding customer service and the best incentives in the industry. In its efforts to extend significant savings to borrowers, NextStudent offers a 1 percent LOCKED interest rate reduction after 36 consecutive on-time payments.

Guaranteed for life. NextStudent borrowers retain their 1 percent LOCKED benefit for the life of the loan, while other lenders may revoke their benefits for a single late payment.

Easy to qualify.  With NextStudent, borrowers maintain eligibility for the 1 percent LOCKED interest rate reduction even if they go into deferment or forbearance. Other lenders may disqualify borrowers for their benefits under these circumstances.

The following are two of NextStudent’s consolidation benefit packages from which students may choose to fit their particular circumstances and preferences.

NextStudent’s Federal Consolidation Loan Benefit Packages:

Package #1

.25 percent interest rate discount for Auto-Debit payments1 percent LOCKED RATE reduction after 36 on-time payments

Package #2

.25 percent interest rate discount for Auto-Debit payments2 percent interest rate discount after 36 on-time payments (not locked)

Qualifying over the phone takes just a few minutes with the assistance of a borrower’s personally assigned Education Finance Advisor, who is there to answer any questions and guide the student through the entire student loan consolidation process.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans at http://www.nextstudent.com/.

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11/22/2006

As the job market in the United States continues to generate a need for applicants who are highly competitive in specified fields from technology to the ever-growing medical field, undergraduate students across the country are beginning to feel the squeeze as graduate and professional degrees become “must-haves” for even intermediate and entry-level positions. According to Phoenix-based NextStudent, a premier education funding company, the proliferation of graduate and professional programs has led to new sources of education funding designed to benefit these goal-orientated students who are, in essence, beginning their career by continuing on in their education.

NextStudent now offers a PLUS Loan Program for graduate and professional students with rates starting as low as 8.5 percent. The Graduate PLUS Loan Program features the same benefits directly to graduate and professional students that parents of undergraduate students receive from traditional PLUS loans. Because NextStudent Graduate PLUS loans are federally sponsored, they offer many of the perks of traditional PLUS loans, including eligibility for federal student loan consolidation, tax-deductible interest and a variety of repayment options.

The decision to continue education onto the graduate and professional level is one that oftentimes comes with considerable financial stress because of the continued financial obligation. However, NextStudent’s Graduate PLUS Loan Program may allow borrowers to fund up to the full cost of their education (less any financial aid received), including living expenses, books, supplies and even computers.

Eligibility and Credit Resolution

Graduate PLUS loans easily are accessible to many students. To qualify a student must be a U.S. citizen or an eligible noncitizen. Although a credit check is required, many students with limited or no credit history still qualify for Graduate PLUS loans.

NextStudent offers a simple online application process through E-Signature, and many prospects who apply online qualify within minutes. Also offered is a “second look” for borrowers who receive an initial denial because of unresolved credit issues. NextStudent has a PLUS Credit Resolution Team that has an 87 percent success rate at resolving borrowers’ credit issues, resulting in funded PLUS loans.

Flexible Repayment Options and Aggressive Incentives

NextStudent Graduate PLUS loans offer several repayment options including deferred repayment while a student is enrolled in school at least half time, and there are no prepayment penalties, ever. There also is a 3 percent cash rebate at repayment on the remaining principal balance after the first 12 months of consecutive on-time payments when student borrowers pay through Auto-Debit. In addition, a 2 percent interest rate reduction is available after the first 48 months of consecutive on-time payments when student borrowers pay through Auto-Debit. Student borrowers receive a .25 percent reduction when they choose repayment through Auto-Debit.

With all the great incentives offered by NextStudent and its Graduate PLUS Loan Program, now is the right time for students to take the next step and go for their graduate degree.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about student loans at http://www.nextstudent.com/.

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NextStudent is proud to annouce that we now provide newsfeeds for our student loan articles and for NextPath, our free financial aid newsletter. You can use the RSS feed below to add this to your "MyYahoo" account, your blogs, newstickers, and other channels that accept distributable content.

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Now that spring break is a gently fading blip on college students’ radar, many students are prone to coast through the final weeks of the semester and forget about more serious considerations like planning for next year. High school seniors are in a different boat altogether, diligently working their way through their first Free Application for Federal Student Aid (FAFSA). In their case, it is wise for students and their parents to monitor where they are in the college funding process and plan accordingly, according to NextStudent, the Phoenix-based premier education funding company.

Complete FAFSA as Soon as Possible

NextStudent, a Federal Family Education Loan Program (FFELP) participant, encourages all students to fill out the FAFSA as soon as possible if they have not done so already. While it is not too late to apply, it is best to submit the FAFSA sooner rather than later. The closer the FAFSA is submitted to Jan. 1, the greater a student’s chance of getting the required financial aid, since some student loans are on a first-come, first-served basis.

Financial Aid Calendar

High school seniors shortly will begin receiving their acceptance letters, usually prior to May 1. In addition, students will receive an Award Letter from each of the schools to which they have been accepted that explains the type of aid and amounts for which they qualify.

In May, it is time for students to select the college they wish to attend and begin applying for such federal financial aid as Stafford loans and Parent Loans for Undergraduate Students (PLUS). Both types of aid are available through NextStudent and include a personally assigned Education Finance Advisor who will guide borrowers through the loan process from start to finish. To fill in the funding gap, private student loans also are available, with borrowing limits of up to $40,000 annually.

Online Tools Make Planning Easy

Another equally important avenue for students to explore is FREE money in the form of scholarships that can help cut the costs of financial aid that has to be repaid. NextStudent offers a FREE Scholarship Search Directory that has a total of 2.4 million scholarships from 42,000 funding sources with total awards of $3.4 billion.

There are many other resources that students may use to ensure that they quickly and easily navigate the financial aid process and receive the funds they need to achieve the education of their dreams.

First, students may want to review the following financial aid calendar to see where they are in the process so they can be sure they are on track for the upcoming school year:

Second, students may have specific questions regarding financial aid and their best options. To find these answers quickly and easily, visit the student resouces center.  For an overview of college financial aid, where borrowers will receive a “guided tour” from a Financial Aid Advisor.  Finally, once borrowers have assembled their entire financial aid package and know the types and amounts of aid for which they qualify, it is time to revisit their first-year college budget. NextStudent offers a FREE College Budget Calculator.

NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding simple. Learn more about Student Loans at http://www.nextstudent.com/.

Stay Current with our Student Loan Articles

NextStudent is proud to annouce that we now provide newsfeeds for our student loan articles and for NextPath, our free financial aid newsletter. You can use the RSS feed below to add this to your "MyYahoo" account, your blogs, newstickers, and other channels that accept distributable content.

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PHOENIX – April 28, 2006 – NextStudent Inc., through its affiliate companies, last week completed its first securitization of student loans when the NextStudent Master Trust I issued $571 million in Auction Rate Student Loan-Backed Notes in a nonregistered private offering.

Citigroup was the lead investment banker on the deal. Co-managers included JPMorgan, Deutsche Bank Securities Inc. and RBC Capital Markets.

“With the successful issuance of these securities, NextStudent has completed its transformation from a student loan and scholarship search/marketing company to a student loan finance company,” said John F. (Jack) Wallace III, Executive Vice President of Finance at Phoenix-based NextStudent.  “As a first-time issuer in the U.S. capital markets we are pleased with the investors’ reception of our securities,” said Wallace.

The proceeds of the transaction were used to purchase a portfolio of federally guaranteed Consolidation, PLUS and Stafford student loans previously held through a bank warehouse facility. Additionally, approximately $150 million was pre-funded for the purchase of PLUS, Stafford and Consolidation student loans during the next six months. “NextStudent plans to enter the Asset Backed Commercial Paper market next month by closing a $500 million deal led by JPMorgan. Citigroup and Banc of America Securities will be co-managers on the deal,” Wallace said.

About NextStudent

NextStudent, http://www.nextstudent.com/, listed at No. 17 on the Top 100 Consolidating Lenders for fiscal year 2005, is dedicated to helping students and their families find affordable ways to pay for college. NextStudent offers one-on-one education finance counseling and has a portfolio of highly competitive education lending products and services including an online scholarship search engine, federally guaranteed student and parent loans, private loans, student loan consolidation programs and college savings plans.

The NextStudent Scholarship Search Engine, one of the nation’s oldest and largest scholarship search engines, is updated daily, available free of charge, completely private – and includes a database of 2.4 million scholarships worth approximately $3.4 billion.

For more information about NextStudent and its student loan programs, please visit the company’s Web site at http://www.nextstudent.com/.

Stay Current with our Student Loan Articles

NextStudent is proud to annouce that we now provide newsfeeds for our student loan articles and for NextPath, our free financial aid newsletter. You can use the RSS feed below to add this to your "MyYahoo" account, your blogs, newstickers, and other channels that accept distributable content.

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If you are thinking about using loan consolidation to possibly lower your monthly student loan payments, then now is the time to start consolidating and lowering those payments. Never in recent history have the interest rates on student loan consolidations been quite as low as they are these days. What does that mean for you? Quite simply, you will be receiving the best available deals for debt consolidation when you choose to consolidate your student loans now and here. Whether you have just a small amount of student loan debt or a very large amount, consolidation can start helping you to lower your monthly payments NOW if you get started on it right away.

Where is the best place to turn when looking to receive consolidation on your student loans quickly and easily? A good place to start might be the Internet. Research exactly what student loan consolidations can do for your financial status. Secondly, visit a web site like NextStudent.com, where you can learn about the latest trends in debt consolidation for student loans. Additionally, you can contact their financial advisors, who will walk you through the debt consolidation process and make sure that you save as much money as possible paying back your student loans.

Once you have started the process, you can sit back and know that student loan consolidation is saving you hundreds of dollars a year on repaying your student loans. While the process is not complex, it is important for you to work with a trusted name when using debt consolidation. Some companies will simply rip you off and end up costing you more money than they save. You may be at a disadvantage with your debt hanging over your head, but that does not mean that you cannot receive a great deal through consolidation! Consolidate NOW and start saving with the ultra-low consolidation interest rates out there these days. You will thank yourself in a few years.

This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about College Loan Consolidation at http://www.NextStudent.com .

Stay Current with our Student Loan Articles

NextStudent is proud to annouce that we now provide newsfeeds for our student loan articles and for NextPath, our free financial aid newsletter. You can use the RSS feed below to add this to your "MyYahoo" account, your blogs, newstickers, and other channels that accept distributable content.

View the original article here

So you have finally got the degree, but were you surprised with what came along with it? A pile of debt and student loans that need to be paid back starting very shortly after college! Whether it is a Federal PLUS Loan or a loan obtained from your local bank, chances are that a college graduation also brings collection agencies to your mailbox, as everyone wants to be paid back for helping to provide you with a college education. But, while you are writing out all these checks to different loan agencies, have you considered and thought consolidation through yet? Better, yet, do you even know what consolidation is?

The consolidation of your student loans can save you hundreds and thousands of dollars in the long run when it comes to your student loan debt. Here is how it works: When you applied for those student loans from different government agencies and loan companies way back when, they each gave you a different interest rate and payment plan for eventually paying them back. Consolidation takes all of these different loans, repackages them into one convenient loan, and then gives you the ability to pay one loan back over time. Therefore, if you owe 5 different companies payments for your student loans and debt, consolidation allows you to now pay just one central company back, thus saving you time and money with a lower interest rate and less checks to write each month.

Consolidation of your student loans can happen right away, as you can visit different loan companies that offer consolidation after college and start saving money right away. Consolidation combines all of your debt into one neat and tidy bill that can be paid off much easier and in a more timely fashion than other options. Why deal with the baggage of 4 or 5 different loan companies nagging you for money, when you can pay one company off and live without that constant hassle? Check out consolidation today, and save yourself from the headaches of student loan debt.

This article is distributed by NextStudent. At NextStudent, we believe that getting an education is the best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more on Consolidation of Debt and Student Loans at http://www.NextStudent.com .

Stay Current with our Student Loan Articles

NextStudent is proud to annouce that we now provide newsfeeds for our student loan articles and for NextPath, our free financial aid newsletter. You can use the RSS feed below to add this to your "MyYahoo" account, your blogs, newstickers, and other channels that accept distributable content.

View the original article here

In an effort to cut the interest rates in half on student loans before they increase on July 1 and to provide better access to college, Sen. Richard J. Durbin, D-IL, who also serves as assistant senate Democratic leader, in conjunction with Rep. George Miller, D-CA, senior Democrat on the House Committee on Education and the Workforce, introduced April 13 the Reverse the Raid on Student Aid Act of 2006, or H.R. 5150. Interest rates would be cut for student borrowers and parent borrowers alike.

The bill comes on the heels of the March 30 passing of the College Access and Opportunity Act of 2006, or H.R. 609. Miller originally presented an amendment to H.R. 609, also called Reverse the Raid on Student Aid; however, in a vote of 220 to 200 the House voted against that amendment.

Bill to Provide Better Access to College

By setting interest rates at 3.4 percent for Stafford Loans and 4.25 percent for PLUS Loans disbursed on or after July 1, the new legislation is intended to provide college access to all those students who qualify for a higher education.

Durbin and Miller, in a telephone press conference, expressed their intention to try to push the bill through Congress before the interest rates increase.

Convincing Republicans of the Bill’s Need

In order to receive the needed support for the bill, the legislators must convince a variety of representatives, mainly Republicans, of the extreme need for the bill and the advantages it will bring to students. In effect, Republicans will have to be persuaded to spend the approximate $37 billion over five years required to slash the interest rates in half.

“The high cost of tuition should never prevent a qualified student from getting a college education, but Republican leaders in Congress apparently don’t see it that way,” Miller said in an April 13 press release distributed from his office. “Democrats want to take America in a new direction, and that includes reversing the Republican raid on student aid and making college more affordable for all students and families.”

According to the release, the Republicans in Congress were behind the recent $12.7 billion in cuts to the federal student loan program. Those cuts have put college students and their families in a no-win situation. The price of college has skyrocketed throughout the years, and the “Republican Raid on Student Aid,” according to Miller and Durbin, has not helped in any way, as it has made college less affordable for those who have difficulty paying for it in the first place.

It’s Time to Act

“Unless we act now, starting July 1st, the price of a college education will increase dramatically for students across the country,” Durbin was quoted as saying in the press release. “New interest rates on student loans could make the ticket price of a higher education unaffordable, and cost students the opportunity to get a college education.”

According to recent reports, the press release said, the price of tuition, fees and room and board at four-year public institutions from 2001 through 2006 increased by 44 percent. Additionally, the U.S. Department of Education said during the past decade that average student debt rose more than 50 percent.

As stated in Miller’s press release, Durbin said, “The concern for our global economic viability is real. Raising interest rates on today’s students shortchanges our children while threatening our country’s ability to remain competitive in the global marketplace.”

Durbin and Miller hope that students and parents will work to try to gain support for the new legislation. Those concerned easily can contact their congressional representatives and ask them to approve the bill. Representatives can be contacted in writing by going to http://www.house.gov/writerep/, or by calling (202) 224-3121.
NextStudent believes that getting an education is the best investment you can make, and it is dedicated to helping you pursue your education dreams by making college funding as easy as possible. Learn more NextStudents’ Student Loan Consolidaiton and College Loans programs at http://www.nextstudent.com/.

Stay Current with our Student Loan Articles

NextStudent is proud to annouce that we now provide newsfeeds for our student loan articles and for NextPath, our free financial aid newsletter. You can use the RSS feed below to add this to your "MyYahoo" account, your blogs, newstickers, and other channels that accept distributable content.

View the original article here