NextStudent Private Student Loans Informal Article
Melissa Bannon
11/16/06
Version 1.0
440 words
Private Student Loans through NextStudent Help Finance Rising Education Costs
The cost of higher education is on the rise across the United States, and many students and parents are feeling the crunch since federal student aid is not able to cover the total cost of college. As a result, NextStudent, a Phoenix-based premier education funding company, offers private student loans for undergraduate and graduate students who are unable to cover their education costs with federal student aid.
Student borrowers can borrow as much as the full cost of college, less any financial aid they have received. The available annual maximum is $40,000 or the calculated cost of attendance (lesser amount) with a program maximum of $130,000.
According to NextStudent (http://www.nextstudent.com/), one of the additional benefits of its Private Student Loan Program is that borrowers have the ability to apply for an unsecured and credit-based private loan at anytime during the school year. As a result, NextStudent's private student loans can help students cover not only tuition, fees, books and housing, but also additional educational costs that students might not have factored into their initial funding needs, such as computers, supplies and other everyday expenses related to education.
Borrowers in Control
NextStudent's Private Student Loan Program puts borrowers in control of the loans they receive by distributing funds directly to the borrower. Additionally, student borrowers may qualify for a student loan (http://www.nextstudent.com) without a co-signer. However, by applying with a co-signer borrowers are more likely to get approved by NextStudent. Borrowers also have a choice of various money-saving repayment options, and interest payments may be tax-deductible.
Student borrowers have up to 20 years to repay their loan. However, student borrowers with cumulative balances of more than $40,000 may have their loan term extended to 25 years. The minimum loan payment on a private student loan is approximately $25.
Accessible Funds for Students
NextStudent's undergraduate and graduate private student loans (http://www.nextstudent.com/private_loans/private_loans.asp) are easily accessible to many students. To be qualified, students must be enrolled in school at least half-time in a degree or certificate program at a school approved by The Education Resources Institute, TERI, a nonprofit organization by which all NextStudent private student loans are guaranteed. Private student loans are also available for those currently enrolled in distance-learning programs and for international students who may not qualify for federal aid.
NextStudent offers these student loans (http://www.nextstudent.com) throughout the year with no deadlines or time constraints so that eligible undergraduate and graduate students can achieve their dream of a college education.
About NextStudent
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 (http://www.nextstudent.com/consolidation_loans/consolidation_loans.asp) 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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Defaulting on student loans?
By: Maggie31053 | 17-06-2008
I co-signed for my daughter's student loans which she now cannot afford to pay. I cannot either as I was recently unemployed and am still in debt. I do own my home, the only asset I have, and I am afraid that I will lose it because my daughter is defaulting. How can I protect it, or should I sell it and rent somewhere?
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By: lorraine217 | 11-06-2008
when i was 16 i took a student loan out and i didn't pay it back as i thought you had to earn 17000 a year to pay it back, i am now 28 three kids and have just finished my 1st year business degree i would like to go on and do my HND in business and have been told i will not get the funding as i owed this loan previous when i said i would pay it back monthly if they would fund i also suggested a guarantor for the payments this was also refused said i had to pay this in full. could any one else help
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I have one idea for a business andI wold like to know , step-by-step for open and run
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