PHOENIX (PRWEB) March 19, 2007
PLUS Loans are federally funded student loans that allow borrowers to finance up to the entire cost of a college education (less any financial aid received), including books, supplies, and even a computer for each year a student is enrolled in college at least half-time.
The government sets the interest rates on all Federal PLUS Loans, which helps keep these rates low and at great terms. NextStudent also offers additional loan benefits to help borrowers keep their college debt manageable, including: a 3 percent cash rebate at repayment on the remaining principal balance following the first 12 months of consecutive on-time payments, an interest rate reduction of 2 percent following the first 48 months of consecutive on-time payments, and a .25 percent interest rate reduction when borrowers pay through Auto-Debit.
In order to be eligible for a Federal PLUS Loan, borrowers first must fill out the Free Application for Federal Student Aid (FAFSA). Since these student loans are not need-based, applicants often qualify within minutes when they apply through NextStudent's online easy application process with E-Signature. Also, if a parent or graduate student already paid tuition and other college expenses, the Federal PLUS Loan is available throughout the year.
PLUS Loans offer financial flexibility to parents and graduate students. NextStudent offers several repayment options including deferred repayment while the student is enrolled in school at least half-time. Additionally, PLUS loans are eligible for federal loan consolidation.
NextStudent, 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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