DIRECT STUDENT LOAN

Have you ever received a piece of mail asking you immediately to call about your student loans? Or, have you ever filled out an online student loan consolidation form? If so, you still may be eligible to save thousands of dollars on your student loans and cut your monthly payments by 60 percent.
As of July 1, 2006, student loan borrowers who did not get a chance to consolidate their outstanding student loans felt the impact of the interest rate increase. Federal student loan interest rates on July 1, 2006 increased by 39 percent (a 1.84 percentage point increase), which drastically increased payments for borrowers who did not meet the consolidation deadline.Incomplete Applications
The U.S. Department of Education allowed student loan borrowers to lock in the significantly lower pre-July 1, 2006 interest rates by submitting an application for consolidation before the deadline. However, due to the enormous demand this year for student loan consolidation, many student loan borrowers were unable to finish their consolidation application in time. This resulted in an increase in monthly payments and thousands of dollars in extra interest costs for student loan borrowers who missed the consolidation deadline. However, there is good news for those who did not fully complete their consolidation application in time.
Many student loan borrowers prior to July 1, 2006 responded to a piece of mail immediately directing them to call about their student loans and then partially completed an application. This past year there also were borrowers who submitted a partially completed online application before the deadline. Since these borrowers did not sign the application they suspected they were ineligible for the lower interest rates.Act Now to Receive Lower Interest Rates
For example, federal student loan consolidation provider NextStudent has countless partially completed applications from incoming callers and online inquiries that were started before the July 1, 2006 deadline. These applications were completed yet lack a signature; therefore, those borrowers are eligible to receive the pre-July 1, 2006 interest rates. In order to receive a lower rate, borrowers must act now and call NextStudent to sign their application. The Department of Education’s extension most likely will expire by December 2006, which does not give borrowers much time to act.
To check and see if you are eligible for the pre-July 1, 2006 interest rates and save thousands of dollars on your student loans, immediately contact NextStudent at 1-800-299-4639 or online at http://www.nextstudent.com.

Due to recent increases in college tuition, the rising costs of textbooks and other general expenses, accurately planning how much money is needed for the school year can prove to be a challenge. The second semester or term is usually the time of year when many college students and their parents review the remaining funds available for the current school year.

According to NextStudent, the Phoenix-based premier education funding company, oftentimes, if expenses are greater than original projections borrowers can meet the shortfall with a private student loan. Qualifying For Private Student Loans Is Simple

Whether a student needs more funds right away, wants money for summer school, or if the student is involved in a distance learning program or enrolled in a private or state institution, NextStudent can help.

Since there is no application deadline as with federal student loans, no fees are involved, the funds are unsecured, and many times may not require a co-signer, there are many benefits of retaining a private student loan from NextStudent. Another advantage is that students receive their student loan directly. This allows borrowers to retain control of their money and avoid the long wait times often associated with channeling the funds through the institution.

To be eligible for private student loans, borrowers may be either an undergraduate or graduate student enrolled at least half-time in a TERI-approved program, pursuing a degree or certificate-based coursework. Students may borrow the cost of their annual attendance or up to $40,000, whichever is less.

It is easy for borrowers to apply for NextStudent private student loans, either online at www.nextstudent.com or by calling 877.690.9879. Approvals can be generated in as few as 15 minutes with a personally-assigned Education Finance Advisor. Generous Repayment Terms For Private Student Loans

Students are not required to start repaying their private student loans unless they become enrolled less than half-time or until six months after graduation. Borrowers can start paying with as little as $25, have many repayment options, up to 20 years to repay and may qualify for tax-deductible interest payments. Those with accumulated total student loan balances that exceed $40,000 may opt to extend the repayment term to 25 years.

In order to optimize their college educational experience, many students are taking advantage of NextStudent’s private student loans. These funds often stand in the gap, enabling borrowers to achieve their dreams of a higher education and cover where federal student loans leave off.

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 NextStudent.com.

After exhausting all forms of “free money” for college, such as scholarships and federal grants, the next best thing for students are federal student loans (http://www.nextstudent.com) to help them pay for school. Federal Stafford student loans have low interest rates and are more appealing when they feature benefits and incentives, according to NextStudent, the Phoenix-based premier education funding company.
It is becoming much more difficult for some students to imagine their dream of a higher education, as college costs increasingly are on the rise along with the cost of tuition and other expenses. NextStudent believes that student loans (http://www.nextstudent.com/student-loans/student-loans.asp) should not be an extra burden to already cash-strapped college students, so the company offers incentives to make payments easier and more manageable.
. Federal Stafford loans do not require collateral or a credit check and payment is postponed until after graduation. There are no guarantee fees and students do not need a co-signer, these student loans have a low interest rate of 6.8 percent and are secured by the government.
NextStudent’s Stafford Student Loan Incentives
NextStudent has professionally trained Education Finance Advisers who know all the ins and outs of the numerous student loan programs offered. They are available to assist student borrowers with all their questions about the Federal Stafford Student Loan program. Through NextStudent’s Student Loan program, student borrowers receive:
·A .375 percent reduction on their interest rate when they make payments through Auto-Debit
·A 2 percent interest rate reduction: 1 percent after the first 12 months of consecutive on-time payments, with an additional 1 percent rate reduction after 24 months of consecutive on-time payments
·A 2 percent upfront cash rebate, whereby borrowers receive the full amount they qualify for at disbursement. Borrowers must participate in Auto-Debit and make one on-time monthly payment to qualify.
Types of Stafford Student Loans
There are two types of Stafford student loans: subsidized and unsubsidized. To qualify for a subsidized Stafford student loan a student must show financial need. The government pays the interest while a student is in school and during grace periods and deferment. With unsubsidized Stafford student loans, students are responsible for the interest; however, payment is deferred until after graduation. All students are eligible for unsubsidized Stafford loans.
Eligibility
Federal Stafford loans are eligible for federal student loan consolidation (http://www.nextstudent.com/) . There are no prepayment penalties. Repayment typically starts six months after graduation. In addition, there are alternate available repayment options, including deferment and forbearance.
In order to be eligible for a federal Stafford student loan, borrowers must either be enrolled at least half time in a degree or certificate program, a citizen of the United States or an eligible noncitizen, current on existing federal education loans, and a high school graduate or have an equivalency diploma.
Federal Stafford student loans are affordable and can help students get through college without the worry of paying back student loans until after graduation. NextStudent’s program offers a variety of incentives to make these student loans even more affordable and manageable. There is no reason not to take advantage of a great deal that helps students obtain their dream of a college education.
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, low and no-cost federal student loans ( http://www.nextstudent.com/ ), parent loans, private loans, student loan consolidation programs (http://www.nextstudent.com/consolidation_loans/consolidation_loans.asp) 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 represents 2.4 million scholarships worth $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/.

Unless you plan on being a student the rest of your life, student loan repayment is inevitable, and the ins and outs of student loan repayment can be confusing and overwhelming. The financial advisors at NextStudent, a leading Phoenix-based education funding company, would like to help clear the murky waters by defining terminology and laying out your student loan repayment options.� Understanding Your Student Loan Repayment Options

A grace period is a pre-determined amount of time allotted to student borrowers after they leave school or drop below half-time enrollment before they must begin repayment of their federal student loans. Grace periods vary in length based on the type of student loan: Stafford loans have a grace period of six months; Perkins loans have a grace period of nine months. PLUS, Grad Plus and Federal Student Loan Consolidation loans have no grace period. Deferment allows you to temporarily postpone your student loan payments (in most cases, up to a total of three years over the life of the student loan) if you’re unemployed or experiencing economic hardship. You can also request in-school deferments on your federal student loans while you’re enrolled at least half time.

While you’re in a grace period or in deferment, the interest on your Perkins and subsidized Stafford loans will be paid by the government. But you’ll be responsible for the interest on your PLUS, Grad PLUS and unsubsidized Stafford loans—any unpaid interest that accrues on these student loans during grace and deferment periods will be added to your principal loan balance for you to repay once repayment starts or resumes. If you want to avoid interest being added to your principal loan balance while you’re in a grace period or in deferment, you can choose to make interest-only payments during that time.� Forbearance also allows you to temporarily postpone your student loan payments. When you’re in a forbearance period, you’ll have to pay any interest that accrues, even on Perkins or subsidized Stafford loans.�� Repayment Plans

Perkins, Stafford, PLUS and Grad PLUS loans have a standard repayment period of 10 years. If your standard monthly payment amount is higher than you’d like, you have three other repayment plans you can choose from that may make your monthly payments more affordable:Extended Repayment is available to you if your federal student loans total more than $30,000 and if you received your first federal student loan on or after October 7, 1998. Depending on your student loan amount, you could extend your repayment period up to a 25-year term. Graduated Repayment allows you to make lower payments at the beginning of your repayment term and gradually increases your monthly payment amount over time. Income-Sensitive Repayment bases your monthly payment amount on your monthly income. You have to submit documentation of your income to qualify, and you have to requalify each year. Student Loan Consolidation

If you’ve taken out any federal student loans, you’re eligible to apply for a Federal Student Loan Consolidation from NextStudent, which might give you more time to repay your student loans and could substantially reduce your monthly student loan payment.

The repayment term on a student loan consolidation will range from 10 to 30 years, depending on your total outstanding student loan amount. Student loan consolidation loans generally have the standard federal deferment and forbearance benefits.

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

You can consolidate one or more qualifying federal student loans and take advantage of one easy-to-manage loan with a single monthly payment. Our online applications are fast and easy, and there are no fees to apply for a student loan consolidation.

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.