Jeff Mictabor is an enthusiast on the topic of student loan issues in the news. He has been writing for the past 10 years for a variety of education publications. He now offers his writing services on a freelance basis.
The Federal Student Loan Consolidation Program offers numerous benefits including locked-in interest rates that may save borrowers thousands of dollars and may cut monthly payments by up to 60 percent. NextStudent, the Phoenix-based premier education funding company, takes those incentives one step further by offering students a .6 percent discount if they consolidate their student loans during the six month grace period after graduation.
More Student Loan Consolidation Benefits from NextStudent
The interest rates for federal consolidation loans are set by the federal government, so the only true difference that individual companies can offer on their student loans are their incentive or discount packages. NextStudent offers substantial discounts both in the form of the .6 percent “New Grad” discount and additional incentive packages.
Borrowers have the option of choosing from three benefits packages. These packages include the “Standard Locked” package which offers a .25 percent discount when the borrower opts to pay via Auto-Debit and a 1 percent LOCKED RATE reduction after 36 consecutive on-time payments; the “2 %” package which offers a .25 percent discount when the borrower opts to pay via Auto-Debit and 2 percent rate reduction after 36 consecutive on-time payments (not locked); and the “Google” package which offers a .25 percent discount when borrower opts to pay via Auto-Debit, .375 percent discount after six months of on-time payments and the 1 percent discount after 36 consecutive on-time payments (not locked).
Qualifying for Federal Student Loan Consolidation
There are numerous advantages to student loan consolidation with NextStudent, regardless of which incentive package a borrower chooses. Qualification is simple with NextStudent’s “4-step easy e-app.” There are no credit checks, fees, or co-signers required. However, borrowers must have a total student loan balance of at least $10,500. In as little as 5 minutes applicants can qualify for student loan consolidation over the phone, and get their questions answered by a personally assigned Education Finance Advisor.
Students and parents can save significantly when they consolidate their student loans with NextStudent and take advantage of up to a 30 year repayment term, incentive packages and .6 percent “New Grad” discount.
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 NextStudent.com.
- Related Videos
- Related Articles
- Ask / Related Q&A
Mothers Can Apply For Grants And $10,000 In Scholarships Through New Federal Program
By: Lindsy Emery | 06/11/2009Have you had dreams of a new and exciting career? Would you love to be able to earn more money in a job that you love? If you answered yes than you are in luck. Because of the passage of the stimulus package, moms are eligible to receive government scholarships.
President Obama Devises A Scholarship Plan For Mothers Going Back To School
By: Lindsy Emery | 06/11/2009Days are long gone when mothers only stayed at home just struggling for better survival and bringing-up children. In this modern age where economic recession has hit the world, the survival is not easy if mothers stay at home. As a matter of fact, they have to work to get the survival of their family going.
Obama Gives Back To American Mothers Going To School Through $10,000 In Scholarships!
By: Lindsy Emery | 06/11/2009Today, all those American mothers, who desire to get back to school for resuming their education, have many hurdles in their way. Consider what they would have to pay after joining school or college again
Obama's Stimulus Package Includes A Scholarship Program Just For Moms
By: Lindsy Emery | 06/11/2009Don't be surprised if you see all mothers around your neighboring area filing up their college forms these days. It has nothing to do with any appearance trend or modern culture shock. This change has actually resulted from the scholarship grant announced in President Obama's stimulus package.
Government Scholarships Available For Mothers Thanks To Obama's New Stimulus Plan
By: Ann Christensen | 06/11/2009If you are a single mom then every month you might have trouble making ends meet and paying all of your bills. Unfortunately, there never may seem a way to get ahead. Now, you may be able to change that be going to college and completing a degree program. Thanks to the government scholarships for moms program, you can also have your education paid for.
Important interview questions with answer related to electrical engineering
By: 24hoursupplements | 06/11/2009I have listed the frequently asked interview questions with answers under the subjects like electrical machines,Transmission and distribution,Power electronics and some general basic questions.If you want to grasp 100% success as fast as possible,simply read the above mentioned contents in the site(http://www.electricalinterviewquestions4u.blogspot.com/)
State Schools Get Selective - Activities vs. Strong Academics
By: bradshawcollegeconsulting.com | 06/11/2009Dear Mr. Bradshaw -- I'm a junior at Carmel (Ind.) High School. We are a large school, with more than 4,500 students. Everyone seems to be involved in some kind of sport or extracurricular activity. I'm a top student, but not involved in any activities because I have to work after school and on weekends.
So You Wanna Know How To Get Into Grad School in Psychology
By: Sheridan Salter | 06/11/2009Gaining admission to grad school isn't exactly quantum physics, but there is a science that successful students follow to prevent their application from ending up in the rejection pile. If it is your choice to earn a masters, Psy.D., or Ph.D., there is no reason why you shouldn't get your very own acceptance letter, as long as you're armed with the right information.
Student Associations Lobby for Bill to Revamp Student Loans
By: Jeff Mictabor | 26/10/2009 | College & UniversityStudent governments and organizations at colleges and universities nationwide are pushing lawmakers to pass legislation that supporters say will make acquiring a higher education more accessible and affordable.
GOP, Lobbyists Mount Criticism of Bill to Overhaul Student Loans
By: Jeff Mictabor | 06/10/2009 | LoansThe Democratic-led House of Representatives, in a 253 to 171 vote on September 17, easily passed landmark legislation that would bring an end to the long-standing Federal Family Education Loan Program (FFELP), the program initiated by the Higher Education Act of 1965 to offer college students federally guaranteed student loans via private lenders.
Pending Legislation Will Overhaul Student Loans
By: Jeff Mictabor | 29/09/2009 | LoansWith a 253 to 171 vote last week, the Democratic-led House of Representatives easily passed landmark legislation that would bring an end to the Federal Family Education Loan Program (FFELP), the program initiated by the Higher Education Act of 1965 to offer college students federally guaranteed student loans via private lenders.
Community Colleges Now Offering Four-Year Degrees
By: Jeff Mictabor | 29/07/2009 | College & UniversityIn this still-uncertain economy that remains rife with unemployment, hundreds of thousands of out-of-work blue- and white-collar professionals, competing for scarce available jobs, find themselves faced with the need to further their training, expand their skill sets, or in some cases change career paths altogether. Many are going back to school, some to obtain their first college degree, others to get an additional or more advanced degree that could give their résumé a much-needed competitive
Obama Ushers In “Fair and Transparent” Credit Card Regulations
By: Jeff Mictabor | 16/06/2009 | FinanceIn a sweeping move that aims to provide hundreds of thousands of Americans help with credit card debt, President Obama signed into law last month legislation that will put a stop to credit card companies imposing sudden rate hikes and exorbitant fees and penalties on cardholders.
New Repayment Break on Student Loans Begins July 1
By: Jeff Mictabor | 12/06/2009 | College & UniversityIt’s not an easy time to be graduating from college with student loans. With the unemployment rate soaring toward 10 percent and the average starting salary for college graduates down 2.2 percent this year
Obama Proposes Sweeping Reforms to Federal Financial Aid Programs
By: Jeff Mictabor | 14/04/2009 | EducationAs part of the 2010 federal budget submitted to Congress, President Barack Obama is proposing sweeping changes to the federal financial aid system that are meant to make college more affordable for U.S. families.
17% Swell in College Financial Aid Submissions Hints at Economy’s Effect on Families
By: Jeff Mictabor | 15/09/2008 | College & UniversityMore families are appealing to the federal government for help this year in paying for college, as parents face a shrinking job market, record-high food and gas prices, and tightened borrowing restrictions that have grown out of the current credit crisis.