Phoenix, AZ (PRWEB) August 25, 2006
Students and their parents throughout the country are concerned about how to pay for college due to the increasing cost of higher education, the rising rate of inflation and increased interest rates on student loans. Even with federal student loans , students usually do not have the full amount to cover their college expenses. However, there are solutions to the problem of getting to and through college, according to Phoenix-based NextStudent, a premier education funding company.
NextStudent is a light at the end of the tunnel for students and parents who need college funding without hassles and with great rates offered along with benefits and aggressive incentives. This is good news, especially since the federal student loan program was cut by approximately $12.7 billion as part of the Deficit Reduction Act of 2005 that was signed into law in February by President Bush.
With tuition hikes and rate increases on student loans such as federal Stafford, NextStudent’s variety of student loans leave out the problems of paying for college. The company loan program offerings include federal Stafford loans, PLUS loans and Private student loans.
NextStudent’s Stafford loan program offers great benefits on top of the 6.8 percent set federal interest rate. Among the offerings is an upfront cash rebate of 2 percent when borrowers repay using Auto Debit and make one on-time monthly payment; a rate reduction of 1 percent following the first consecutive 12 months of on-time payments and an additional reduction of 1 percent after 24 months; and a reduction of .375 percent when borrowers opt to repay with Auto Debit.
Parents can help their children get through college with NextStudent’s PLUS Loans – Parent Loans for Undergraduate Students. Up to 100 percent of college costs can be borrowed at a rate as low as 6.25 percent, less any financial aid received by the student. Parents can receive the low rate when it is accompanied by an interest rate reduction of 2 percent following the first 48 months of on-time payments and a reduction of .25 percent when borrowers repay using Auto Debit.
Private student loans are another alternative for student borrowers, as the loans can cover up to the full cost of college, less financial aid. When student borrowers qualify, Private student loans are available throughout the year and can be disbursed within five business days. There are no application fees and the loans are credit-based and unsecured. Student borrowers can apply with or without a co-signer; however, more Private loans are approved with a qualified co-signer.
NextStudent offers a variety of loan options for students and parents to help make getting to college easy and manageable. A variety of benefits, incentives and repayment options make NextStudent the lender of choice for student and parent borrowers who put education first.
NextStudent, http://www.nextstudent.com/, federal lender code 834051, 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 finance products and services including a free online scholarship search engine, federally guaranteed parent and student loans, private student loans, both federal and private 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 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/.
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