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.
FINAL Formal Article
07/13/06
636 words
NextStudent's Graduate PLUS Loans Available to Fall Graduate Students
Numerous graduate students who are starting classes this fall now are scrambling for the funds needed for their tuition and other educational expenses at graduate school. With the high cost of graduate school and the fall semester just around the corner, graduate students still have time to get the funds needed to help cover the full cost of their education, according to NextStudent, the Phoenix-based premier education funding company.
NextStudent offers a new federal Graduate PLUS Loan program that, while geared to graduate students, has all the benefits of a PLUS Loan. Funds can be disbursed directly to students or to their schools; the decision is up to students. Students can request that the funds be distributed immediately upfront or at different intervals throughout the year.
Graduate PLUS Loans Available Throughout the Year
Many new graduate students may be concerned that it is too late to apply for a Graduate PLUS Loan. Therefore, it is important to note that the loans may be taken out at any time of the year.
With a rate as low as 8.25 percent, NextStudent's federal Graduate PLUS Loans are easy to manage and are a convenient way for graduate students to get the funds they need to further their higher education needs. The loans may be available despite a student borrower's income. Students can borrow up to the full cost of their education, which includes tuition, housing, books, lab fees and computers.
An added bonus for graduate students who receive a Graduate PLUS Loan is that those students qualify for in-school deferments, including residency and unemployment deferments, whereas the option is not available when parents take out a PLUS loan for students.
A host of additional incentives and benefits are part of NextStudent's Graduate PLUS Loan program. Aggressive rebates directly are built into the program so that graduate students have the means to get the most out of their loans to help them fund their education.
Aggressive Rebate Incentives
NextStudent's Graduate PLUS Loan program offers many incentives including 3 percent cash rebate at repayment. The rebate helps student borrowers since it can be put toward education funding. NextStudent pays a 3 percent cash rebate of the loan amount for student borrowers when they sign up for Auto-Debit and make their first on-time monthly payment.
When student borrowers complete their first 48 consecutive on-time monthly payments, they are able to receive a cash rebate equal to 5 percent of their outstanding principal balance when they participate in Auto-Debit.
A .25 percent interest rate reduction is available to student borrowers who pay their loans through Auto Debit.
Benefits of Graduate PLUS Loan Program
The federal Graduate PLUS Loan's benefits are another reason for graduate students to take advantage of the program. NextStudent's benefits include generous borrowing limits; an easy, quick application process when students apply online. A "second look" is available to borrowers who initially are denied due to unresolved credit issues; NextStudent's PLUS Credit Resolution Team has an 87 percent rate at successfully resolving borrowers' credit problems that then result in funded Graduate PLUS Loans; a variety of repayment options available that include deferred repayment as long as students are enrolled at least half time at school. There are no prepayment penalties. In addition, the Graduate PLUS Loans can be consolidated.
Students looking to further their education dreams through graduate school now have no reason not to take the challenge. Although it is midsummer, paying for graduate school is just a Web site away. NextStudent's Graduate PLUS Loan program can take care of student borrowers and their funding needs for graduate school.
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 College Loans and student loan consoldiation at http://www.nextstudent.com/.
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