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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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/.

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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/.

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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 .

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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 .

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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/.

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By Shannon Rasberry
October 15, 2010

San Francisco has launched a new college savings program intended to make college more affordable and reduce families' needs for student loans, according to an announcement last week by the mayor's office.

Kindergarten to College (K2C), being touted as the nation's first universal children's savings account program, will eventually open college savings accounts for all San Francisco kindergarteners enrolled in public school. Each child's savings account will be opened automatically when the child starts kindergarten, and each account will be funded with a one-time initial seed deposit from the city and matching funds from participating corporations, nonprofit groups, and philanthropic foundations.

Families are encouraged to contribute savings to the accounts from the time their child is in kindergarten until he or she graduates from high school.

"There's no better long-term investment we can make as a city than helping our kids go to college, and Kindergarten to College will provide working families with the financial tools to turn a college education for their child from a distant dream to a practical reality," said San Francisco Mayor Gavin Newsom ("Mayor Newsom and City Leaders Launch ?Kindergarten to College,' " San Francisco Mayor's Office press release, Oct. 5, 2010).

Expected to launch by Dec. 1, the K2C program will initially provide college savings accounts for 1,200 newly enrolled kindergartners at 18 San Francisco public schools. The full program will roll out over three years, doubling the number of enrolled kindergartners to 2,400 next year and enrolling the city's entire public kindergarten population the year after that.

The K2C accounts, which will be created, opened, and managed with help from Citibank, will each get an initial deposit of $50 in taxpayer money from the city. Lower-income students who qualify for the federal government's free or discounted lunch program will get $100.

The money in these accounts will only be able to be used to pay for college or other postsecondary schooling, such as vocational training.

As the program grows, more organizations like EARN, a San Francisco-based nonprofit that helps low-wage families achieve prosperity, are expected to help build up participating families' college savings by matching the funds that families contribute to the K2C accounts.

"At EARN, we see every day that with the right tools and incentives, low-income families can and do save, often at higher rates than wealthier families. That's why we are so committed to supporting the city's effort by providing a $100 savings match for the first additional $100 saved by families participating in the K2C program," said EARN president and CEO, Ben Mangan.

The program has also received a commitment from the San Francisco Foundation to provide savings matches and other incentives as K2C is implemented.

"[K2C] has the potential to transform lives and our entire community. The San Francisco Foundation is honored to be a part of this important collaborative, and we are enthusiastically looking forward to providing savings incentives for participating families," said San Francisco Foundation CEO, Dr. Sandra Hernandez.

In order to raise the financial management skills of students and boost the success of the K2C program, financial education has been integrated into San Francisco's K?12 math curriculum. San Francisco is the first city in the nation to integrate financial education into its pre-college math classes, and schools will use K2C accounts as teaching tools.

City officials want to educate families on the benefits that small deposits, combined with compounded interest over roughly 12 years, can provide when it comes to paying for college and avoiding debt from student loans. Officials hope the program will prove especially beneficial for the estimated half of all black and Hispanic families in San Francisco who don't have savings accounts.

"We're going to work with the families so they can see that if they could do just $5 a month, or $10 ... that's going to result in literally thousands of dollars after 12 or 13 years," said city treasurer, Jose Cisneros ("S.F. First U.S. City to Start College Savings Plan," San Francisco Chronicle, Oct. 5, 2010).

For 2010, the program's inaugural year, the city has budgeted $257,000 for the program's set-up and to cover the initial crop of 1,200 kindergartners, who make up about a quarter of all kindergartners in San Francisco public schools. Full coverage for every public-school kindergartner is planned by 2012?13.

"No one else in the country is doing this," said Newsom. "We are not just saying every child can go to college. We are now providing families with the financial tools necessary to make this a reality."

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At least 20% of college students need some type of loan to help pay for their college education. Such a statistic can lead to students graduating with an unmanageable debt load. An alternative is for parents to help out by taking out loans themselves. But which is the better option - student loans or parent loans? Each has distinct advantages and uses.

Federal student loans have the lowest interest rates and best repayment options. If you need to take out loans and you qualify for federal loans, this is your best choice. Just be sure to accept only the funds you need, even if you are offered much more. Parents can always help their children pay off these loans once repayment begins after graduation.

PLUS Loans ( Parent Loan for Undergraduate Students) are another loan option that comes with low interest rates. If you are a parent with dependent students attending college at least part-time and you have a good credit history, you are eligible to receive a PLUS Loan. These loans are not needs-based. You can borrow up to the total cost of undergraduate education expenses, minus other financial aid already received. Unlike federal student loans, payment is not deferred until after graduation; instead, your first loan payment will be due about 60 days after the loan is disbursed. Also unlike federal student loans, PLUS Loans require an application fee.

Both students and parents can take out private loans to cover funding gaps. Terms are basically the same for these loans, although students may be able to have their repayment deferred until after graduation. Another consideration is that students may wish to take out small loans to begin to establish a credit history. You may need to cosign for private student loans.

Parents do have some additional options for college funding, such as home equity loans. These often have rates as good as private loans.

This really comes down to a personal decision. Ask yourself these questions as you are trying to decide:

What level of debt do you feel is manageable for your child to graduate with? How important is it to you that your child takes responsibility for paying student loans? Will you and your child work out a repayment plan to repay PLUS Loans and other parent loans?

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So you've made the decision to go to college? Great! But the decisions are just beginning for you, as in the coming months, you will need to make dozens of decisions concerning your future. While searching for scholarships may be one of those tough decisions, make it a whole lot easier by following these 10 simple things that you will need to do before applying for scholarships.

Decide which college you will be attending next semester, or whenever you are planning to start. The sooner you know this, the sooner you can find out what scholarship offers that specific college offers for its students. Make a list of the qualities that you think make you a candidate for attending college and receiving a scholarship. A leader? Good at math? Involved in the community? These can all help you to receive a scholarship. Start thinking about a possible major in college. Alternatively, do not be too dead set on a major just yet. Keeping your options open could get you a scholarship! Find a good search engine to help you find a college scholarship. NextStudent is a good example of this. Visit your high school's guidance department to obtain more information about receiving a scholarship. Obtain transcripts for your school that indicate what your current GPA is. Have a family member or friend tell you what they think your best qualities are. Often times, you may not be able to see your own best qualities. These can be used to search for scholarships. Be sure to keep in close contact with your academic advisor. There may be scholarship web sites or scholarship newsletters that can help you to find something that can help you obtain a scholarship. If you really have enough time (high school sophomore or junior), search for scholarships and see what colleges are looking for when offering scholarships. Join clubs and attend conferences to build your resume up and become a more worthy scholarship candidate. Be ready to work! Obtaining scholarships is not easy work, but it does have a big payoff in the end: money for school! Don't expect it to be easy, but be aware of the ends.

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 how you can improve your Scholarship Search at http://www.NextStudent.com .

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After weeks of speculation about the upcoming expected interest rate increases, student borrowers now know that their federal student loan rates will jump 1.84 percentage points on July 1, 2006, less than five weeks away.

The interest rate increase announcement is based on the May 30, 2006 auction of 91-Day Treasury Bills. The rate increase is the second largest in the student loan program’s history.

Only Five Weeks Remaining Until Rate Increase

With less than five weeks away and the forthcoming interest rate hikes, it is more important than ever that student borrowers consolidate their federal student loans before July 1, 2006, according to NextStudent, the Phoenix-based premier education funding company.

Student borrowers should take note that for Stafford loans disbursed on or after July 1, 2006, the new rates will be fixed at 6.8 percent. PLUS loans disbursed on or after July 1, 2006 will be fixed at 8.5 percent. By consolidating before July 1, students can avoid the interest rate hikes and lock in a low, fixed interest rate for the life of the loan.

The interest rate changes were incorporated into the recently passed Deficit Reduction Act of 2005, S. 1932, which was signed into law Feb. 8 by President Bush. The legislation cut a total of $12.7 billion to the federal student loan program.

NextStudent Offers Low Rates, Personalized Service

NextStudent’s federal student loan consolidation program is free and there are no hidden charges or fees and no prepayment penalties. The company offers low interest rates coupled with first-rate personalized customer service. Information on borrowers is completely secure and confidential.

With consolidation, all of a student borrower’s loans are combined together, adding up to one easy monthly payment. NextStudent features a 2.5 percent interest rate with benefits applied, which include .60 percent rate reduction for consolidating after graduation; .25 percent rate reduction when students use Auto Debit, and a 1 percent reduction when student borrowers make 36 consecutive on-time payments. A 4.75 percent interest rate is available for eligible in-school borrowers.

There still is time before the July 1 deadline to consolidate and save money with a new low interest rate. Student borrowers also can extend their payment period and save money over the long term. By saving through consolidation student borrowers can put the extra funds into the other important things in their lives.

College Costs on the Rise

The cost of college increases every day, making it much more difficult for students to obtain their dream of a higher education, especially for those students from low-income and middle-income families. However, consolidation can be the answer for students who want a lower interest rate and easier monthly payments.

July 1 is just around the corner, so now is the time for students to consolidate if they want to help ease their monthly financial burden and save money over the long term.

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 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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Whether you’re a recent graduate with grace periods about to end, or a new student or parent of a new student just taking out your first student loan, you may have questions about repayment—what your options are, how long you have to repay, what happens if you have trouble making your payments.

To help answer your questions and make sure you know about all the repayment plans and alternatives available to you on your federal student loans, NextStudent, a leading Phoenix-based education funding company, offers this quick guide to repayment terms and options for federal student loans.

If you’re having trouble making your monthly student loan payment under the standard repayment plan, you may be able to lower your monthly payment by choosing an alternate repayment plan. Talk to your lender or servicer about these repayment options:

Standard Repayment: the typical repayment period for a federal student loan. For a fixed-rate student loan in a standard repayment plan, the monthly payment amount will remain the same throughout the repayment period.Extended Repayment: a repayment plan that allows certain borrowers to extend the standard repayment period—up to a 25-year repayment term—in order to lower their monthly payment. Extended repayment is available to borrowers who received their first federal student loan on or after October 7, 1998, and who have outstanding federal student loans totaling more than $30,000.Income-Sensitive Repayment: a repayment plan that bases the monthly payment amount on a borrower’s monthly income. The monthly payment must be at least enough to cover the monthly interest. You’ll need to submit income documentation to qualify for this repayment plan, and you need to requalify each year.Graduated Repayment: a repayment plan that allows borrowers to start with a lower monthly payment and then gradually increases the monthly payment amount over the repayment term. The payment amount generally increases every two years and must be at least enough to cover the monthly interest.

In addition to alternate repayment plans that may lower your monthly payment, you also have options for temporarily postponing your payments altogether without affecting your credit rating. If your student loan is in one of the three following statuses, you’re not required to make any payments (although you can choose to make interest payments during any of these postponement periods in order to avoid having any accrued interest added to your principal loan balance):

Grace Period: the period of time after a borrower has left school (or dropped below half-time enrollment) and before repayment begins, during which no payments are due. For subsidized student loans, any interest that accrues during a grace period is paid by the government; for unsubsidized student loans, any unpaid interest that accrues will be added to the principal loan balance for the borrower to repay once the repayment period begins.Deferment: during repayment, a period of time during which no payments are due. For subsidized student loans, any interest that accrues during a deferment period is paid by the government; for unsubsidized student loans, any unpaid interest that accrues will be added to the principal loan balance for the borrower to repay once repayment resumes.Borrowers can request an in-school deferment if they’re enrolled at least half-time. They’ll need to provide proof of enrollment each semester. Borrowers may also request a deferment in cases of unemployment or financial hardship, for up to a year at a time, up to a total of three years over the life of the student loan.Forbearance: during repayment, a period of time during which no payments are due. For both subsidized and unsubsidized student loans, any unpaid interest that accrues will be added to the principal loan balance for the borrower to repay once repayment resumes.Borrowers who meet certain criteria may request a forbearance for up to a year at a time.

Stafford Loans for Undergraduate and Graduate Students: The standard repayment term for a Stafford loan, either subsidized or unsubsidized, is 10 years. After you graduate, leave school, or drop below half-time enrollment, you’ll have a six-month grace period before you need to begin repaying your Stafford loan. For subsidized Stafford loans, you won’t be charged any interest during your grace period. For unsubsidized Stafford loans, any unpaid interest that accrues will be added to your principal loan amount for you to repay once your repayment period begins.

PLUS Loans for Parents: The standard repayment term for a PLUS loan is 10 years. There is no grace period on a PLUS loan. Repayment will begin 30–60 days after the final disbursement.

Grad PLUS Loans for Graduate Students: The standard repayment term for a Grad PLUS loan is 10 years. There is no grace period on a Grad PLUS loan. Repayment will being 30–60 days after final disbursement. However, you can postpone making any payments until you’ve left school or dropped below half-time enrollment. Any unpaid interest that accrues during this postponement period will be added to the principal of your student loan for you to repay once repayment starts.

Federal Student Loan Consolidation: The repayment term for a student loan consolidation loan depends on the total outstanding amount of your student loans.

There is no grace period on a Federal Student Loan Consolidation.

If your student loan consolidation is in deferment, the government will pay the interest on that portion of your consolidation loan that was originally a Perkins loan or subsidized Stafford loan. You’ll only be responsible for paying the interest on that portion of a consolidation loan that was originally a PLUS, Grad PLUS or unsubsidized Stafford loan.

If your student loan consolidation is in forbearance, you’ll be responsible for paying all interest that accrues.

Whether you have just one or multiple federal student loans, a Federal Student Loan Consolidation might give you more time to repay and could substantially lower your monthly student loan payment. If you have multiple federal student loans, a student loan consolidation allows you to combine them into one easy-to-manage loan with a single monthly payment.

NextStudent believes 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 simple. Learn more about Student Loans, Private Student Loans and Student Loan Consolidation at NextStudent.com.

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Getting scholarships for college is not the hard part - but actually going out and finding scholarships that fit your requirements is! For years, high school guidance counselors used to suggest possible scholarships to students or give them large booklets filled with hundreds and thousands of college scholarships. Going through these books and actually finding a scholarship became a task all in and of itself. With the popularity of the internet though, finding a scholarship for college through a search engine has never been easier and has even been made simpler through the usage of specific search engines tailored just for college scholarships!

The first thing to do before using a search engine to find college scholarships is to make a list of all of the skills or qualities about yourself that might appeal to someone handing out a college scholarship. Are you athletic in some sport that some colleges offer? Do you write poetry that would make Walt Whitman smile? Can you name all of the states in America in alphabetical order in under 2 minutes? Chances are, if you have some talent or skill, someone will be offering a scholarship that could put you into college.

Next, go into any search engine and start searching for web sites that offer scholarships. You may be able to find entire sites devoted to finding and searching for scholarships that are tailored around your needs. Try and be fairly specific, as the term "scholarship" is likely to bring up thousands of sites that do not apply to you. If you want a scholarship for those interested in writing, type in something like "creative writing college scholarships." This should at least bring up some more options for you.

Finally, start applying for scholarships that you find through a search engine. Sign up for more information from sites that host advertisements for various scholarships. These sites will then e-mail you the latest scholarship opportunities in your field of interest. The scholarships may be out there somewhere for you. Just make sure to turn to your favorite search engine to find out exactly where they are located.

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 our Scholarship Search Engine at http://www.NextStudent.com .

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Some parents think they need to dip into their savings to help pay college costs for their children. After years of putting away hard-earned funds into a savings plan that should be geared toward emergencies and the future, parents should think twice. NextStudent, the Phoenix-based premier education funding company, offers PLUS Loans – Parent Loans for Undergraduate Students, a smart alternative for parents.

The general advice out there is that parents should keep their savings in tact for their future. Parents can keep their savings safe and sound and still help their college-age children by taking out a NextStudent PLUS Loan. Rates start as low as 6.25 percent when combined with aggressive incentives including a rate reduction of 2 percent after the first 48 months of on-time payments and a reduction of .25 percent when parent borrowers repay with Auto Debit.

Federal PLUS loans make it easy for parents to help, as they can borrow as much as the full cost of college, so parents do not have to touch their savings. Since the college loans are not based on financial need, all parents are eligible, regardless of income. PLUS Loans are easy to get and are available anytime during the year at up to 100 percent of the cost of college, less any financial aid received. Total costs include tuition, fees, books, supplies, housing and transportation.

Through NextStudent, parent borrowers will receive personalized service from their own Education Finance Adviser. The preapproval process is fast and easy, so parents can rest easy that they will receive the sufficient funds in time.

NextStudent also offers a host of benefits and incentives that make PLUS Loans the correct choice:

A cash rebate of 3 percent on the remaining principal balance following the first 12 months of consecutive on-time payments.Easy Application Process with E-Signature. Online application can be qualified in minutes. NextStudent offers its Credit Solution program that is available to borrowers who initially are denied because of unresolved credit issues.PLUS Credit Solution Team at NextStudent has an 87 percent rate of success at resolving borrowers’ credit issues, whereby resolutions result in funded PLUS Loans.A variety of PLUS Loan repayment options include deferred repayment when a student is enrolled in school at least half time.

PLUS Loans are eligible for federal student loan consolidation and the interest may be tax-deductible. Repayment on the loans starts within 60 days of final disbursement. The typical repayment term on federal PLUS Loans is 10 years. In addition, there are no prepayment penalties.

Parents of college students do not have to reach into the cookie jar to use their savings to pay for school. NextStudent’s federal PLUS Loan program is geared to make it easy for parents to help pay for college so their children can get that all-important 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 as easy as possible. 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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There roughly are seven weeks remaining until interest rates on student loans are expected to greatly increase and rules and regulations will change. College and graduate students alike will feel a major pinch unless they now take action to consolidate their student loans.

Students throughout the country will feel considerable negative effects due to the passing Feb. 8 of the Deficit Reduction Act of 2005, S. 1932. Although many entities are finding fault with the legislation and others are seeking to challenge the bill, interest rates on student loans are poised to skyrocket on July 1.

Federal programs such as Medicare and Medicaid were cut with the passing of the Deficit Reduction Act. However, the federal student loan program took the deepest cuts, totaling more than $12 billion, leaving the nation’s students, parents and student loan companies outraged.

College More Expensive Than Ever

It is highly probable that students will face paying thousands more for their student loans because of the passing of the Deficit Reduction Act. Working-class and middle-class families that already have difficulty paying for higher education will be hit hardest. Tuition at universities and colleges throughout the country has been on the rise while the availability for student grants has decreased, making a college education less attainable.

Students who have federal loans, including PLUS and Stafford loans, can help ease their situations through student loan consolidation. By consolidating federal student loans before July 1 students easily can lock in a lower interest rate for the life of the loan. Through consolidation, students do not have to worry about a variety of monthly bills, as the program combines all of a student’s loans into one monthly payment. In addition, with student loan consolidation students can save as much as 60 percent, which can add up to a savings of thousands in the long run.

As the nation strives to be more globally competitive, the cost of college tuition is increasing. As costs increase and negative changes in the federal student loan program take hold, more and more students and families find it is more difficult to attend college. The rising cost of living is no help to graduates who find it difficult to pay back their student loans.

Student Loan Consolidation Can Save the Day

Student loan consolidation can be a big help to those students and graduates already weighed down under the heavy burden of college debt. However, with the looming July 1 rate increase scheduled to take effect, students should take action and consolidate their student loans before the deadline.

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 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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