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.
http://www.nextstudent.comFINAL Informal Article
08/09/06
477 words
Plus Loans from NextStudent Available For Fall Semester and During the Year
The fall semester at college is just about to begin, and many parents wonder if they are in a position to help their children with their education costs. College funding is still available, now and throughout the year, for parents who take out a PLUS Loan - Parent Loans for Undergraduate Students, according to NextStudent, the premier education funding company based in Phoenix.
NextStudent offers PLUS Loans with rates as low as 6.25 percent along with benefits, including a 2 percent rate reduction following the first 48 months of on-time payments, and an additional .25 percent rate reduction when parent borrowers repay with Auto Debit.
Parent borrowers easily can receive a PLUS Loan because the loans are not based on financial need. An easy, fast preapproval process enables parent borrowers to receive the funds they need without having to wait long periods of time.
Receive up to 100 Percent of Education Costs
Up to 100 percent of education costs are available, less financial aid received, so that borrowers can make sure their children cover the costs of tuition, fees, housing, transportation and supplies.
With NextStudent's federal PLUS Loans parents have the option to borrow throughout the year. For 2006-07 parents can borrow up through May 31, 2007 to cover all education expenses for students. The loans also can reimburse parents who already paid tuition and other expenses.
Federal PLUS Loans qualify for federal loan consolidation and interest may be tax-deductible. Terms for repayment usually are 10 years. The repayment terms starts within 60 days of the final disbursement. In addition, there never are prepayment penalties.
PLUS Loan Features
NextStudent offers parent borrowers great benefits and incentives on federal PLUS Loans:
• Receive a 3 percent cash rebate on the remaining principal balance after the first 12 months of consecutive on-time payments.
• Easy Application Process with E-Signature. Apply online and be qualified for a PLUS Loan in minutes. In addition, NextStudent has a "second look" feature that is available to borrowers who initially are denied due to unresolved credit issues.
• NextStudent's PLUS Credit Resolution Team has an 87 percent success rate at resolving borrowers' credit problems that result in funded PLUS Loans.
• Various PLUS Loan repayment options, including deferred repayment when a student is enrolled at least half-time at school.
When planning their financial strategy, parent borrowers of college students can receive reasonable rates, benefits and incentives when they take out a PLUS Loan. The loans feature generous terms and are preferable to most other consumer loans. Parent borrowers can help their children at any time throughout the year, even if the semester is just weeks away.
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 http://www.nextstudent.com/.
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