 |
Repayment of Student Loans Need not be an Overwhelming Prospect
Author: Jeff Mictabor  | Posted: 09-07-2007 | Comments: 0 | Views: 13 | Rating: (53)  (?) 
Chances are, all the college graduation parties are long gone and the celebration of recent graduates’ noteworthy achievements is yesterday’s news. Along with the receipt of the college degree come bigger responsibilities, like getting a job, finding a source of ongoing monthly income, maturing into a responsible adult, and meeting financial obligations. In the midst of transitioning from the campus lifestyle of a college student to that of a working individual comes the repayment of college student loans.
According to NextStudent, a leading Phoenix-based education funding company, for many parents and their children who have seen their college dreams fulfilled, repaying student loans is not a popular topic largely because many are unaware of the repayment process and accompanying options.
Grace Period Gives ‘Buffer Zone’
For most student loans, before repayment begins there is a grace period, which varies depending upon the student loan type. Students who have taken out Stafford Loans have six months following graduation before they have to begin repayment. Those with Perkins Loans have a full nine months before they must make their first payment. The only exception is those parents or graduates who have taken out PLUS Loans (Parent Loans for Undergraduate Students) or Graduate PLUS Loans, who already should have started repayment, required only 60 days after fund disbursement.
Virtually anyone who qualifies may defer their student loans in six-month increments for up to a total of three or five years. Borrowers may qualify for deferment if they are experiencing economic hardship, unemployment, or certain other conditions. Borrowers must apply for each deferment period. Since interest accrues during deferment, with the exception of subsidized Stafford Loans, it is wise to defer student loans only when borrowers cannot afford to begin repayment at that time.
Consolidation Among Repayment Options
Student Loan Consolidation is an excellent way to roll all student loans into one easy-to-manage package. With student loan consolidation borrowers are required to make a single payment once a month, instead of having to juggle multiple student loans, payments, interest rates and repayment terms. Through student loan consolidation many borrowers reduce their student loan payments by up to 60 percent and eliminate the headaches and hassles of dealing with their student loan debt in one easy step.
When borrowers consolidate with NextStudent, they will receive some of the best benefits and terms in the industry, along with customer service that is tough to beat. All borrowers receive their own personally assigned Education Finance Advisor who will explain the student loan consolidation process, outline their best options, and address any questions they might have.
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, Private Student Loans and Student Loan Consolidation at NextStudent.com.
Rate this Article:
Current: 0 / 5 stars - 0 vote(s).
Article Source: http://www.articlesbase.com/college-and-university-articles/repayment-of-student-loans-need-not-be-an-overwhelming-prospect-178358.html
About the Author: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.
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Related Articles
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 P
By: Jeff Mictabor | 31/08/2007 | Education
Got this semester covered but wondering how you’re going to pay for next semester? If mom and dad can’t help you out as much as they want to, you might consider applying for a Federal Stafford Loan.
Low-interest Stafford Loans Could Help you Meet your Graduate School Expenses
By: Jeff Mictabor | 10/09/2007 | Education
As a graduate or professional degree student, even with your student grants and T.A.’s salary, you may find you still have school-related expenses to cover. To help you meet the costs of your degree program, NextStudent, a leading Phoenix-based education funding company, offers graduate Federal Stafford Loans, which carry a low, fixed 6.8% interest rate. And as long as you’re enrolled at least half-time, you don’t have to start repaying your Stafford loan until you’ve finished your degree.
Nextstudent’s Scholarship Search Directory: your Personal College Funding Resource
By: Jeff Mictabor | 09/05/2007 | College and University
NextStudent, the leading Phoenix-based education funding company, suggests that every student’s search for college funding should begin with the search for “Free Money,” better known as scholarships. With the costs of higher education yearly on the rise, obtaining money that need not be repaid is an essential tip for all college and college-bound students. NextStudent can help students become their own college funding resource by helping to locate scholarships for school.
Student Loan Repayment 101
By: Jeff Mictabor | 14/09/2007 | College and University
Unless you plan on being a student the rest of your life, student loan repayment is inevitable, and the ins and outs of student loan repayment can be confusing and overwhelming. The financial advisors at NextStudent, a leading Phoenix-based education funding company, would like to help clear the murky waters by defining terminology and laying out your student loan repayment options.
Thousands of Dollars to Pay for College Could be Just a Few Clicks Away
By: Jeff Mictabor | 27/09/2007 | College and University
If the cost of college and graduate school seems to be rising as quickly as summer temperatures, it may be time to look into the funding sources that could help you finance your postsecondary education. To help families sort through the financial aid maze, NextStudent, a leading Phoenix-based education funding company, offers students and parents this quick guide to the types of financial aid options that are out there.
Study Reveals Slowdown in International Graduate Student Applications
By: Jeff Mictabor | 24/04/2008 | College and University
Britain, France, Germany, Australia, and China are becoming a stronger presence in the postgraduate studies landscape, cutting into the United States’ historical dominance as the most sought-after destination for international students seeking a master’s or doctoral degree.
With College Come Financial Responsibilities
By: Jeff Mictabor | 05/10/2007 | College and University
Between homework, tests, class schedules, a part-time job, and the pressure to maintain acceptable grades, college thrusts students into a world of increased responsibilities. And financial responsibility, the one that could most affect you in the long run, often gets lost in the crazy shuffle of your college life.
Changes to Pell Grant Program Needed to Target Lowest-income Students
By: Jeff Mictabor | 09/05/2008 | Education
Pell Grants, federal grants targeted at the nation’s most needy students, have not kept up with college costs. In fact, current Pell awards fall far short in helping low-income students cover their education expenses, according to a recently released report from the Institute for Higher Education Policy.
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
I just got a student visa. On my I-20 it is ...
By: giomoslg | 27-06-2008
I just got a student visa. On my I-20 it is written that school starts on August 14th and I know I can't travel more than a month before school starts. So if I travel on July 14th is it gonna be ok ?
How do you put a picture that you have taken with ...
By: White1024 | 24-06-2008
How do you put a picture that you have taken with your own camera to put in your personal picture or gamer picture on xBox360?
Side yard parking
By: bj | 18-06-2008
I live in los angeles county california. Can I park my utility trailer on my side yard towards the back of the house? The trailer measures 5' wide, 8' long including the tonque. It is used to hold my tools for work.
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?
Do you have a bio-energy program in ADB. Who are ...
By: romy santiago | 04-06-2008
Do you have a bio-energy program in ADB. Who are the focal persons and their contact number.Thank you.
Business
By: cezar | 03-06-2008
I have one idea for a business andI wold like to know , step-by-step for open and run
Q&A Powered by: 
More from Jeff Mictabor
Increase in ‘stealth Applicants’ May be Affecting Acceptance Rates
By: Jeff Mictabor | 16/05/2008 | Education
“Stealth applicants” is the term colleges and universities use to refer to those students whose first communication with a school comes via their admissions application. An increase in these “out-of-the-blue” applicants has thrown off schools’ ability to accurately predict the number of applications they will receive and has caused some schools to adjust their traditional admissions practices.
Changes to Pell Grant Program Needed to Target Lowest-income Students
By: Jeff Mictabor | 09/05/2008 | Education
Pell Grants, federal grants targeted at the nation’s most needy students, have not kept up with college costs. In fact, current Pell awards fall far short in helping low-income students cover their education expenses, according to a recently released report from the Institute for Higher Education Policy.
Study Reveals Slowdown in International Graduate Student Applications
By: Jeff Mictabor | 24/04/2008 | College and University
Britain, France, Germany, Australia, and China are becoming a stronger presence in the postgraduate studies landscape, cutting into the United States’ historical dominance as the most sought-after destination for international students seeking a master’s or doctoral degree.
A College Financial Aid Model for Private K–12 Students
By: Jeff Mictabor | 31/03/2008 | Education
One of President Bush’s education initiatives that would model private K–12 financing on a popular federal college financial aid program has sparked renewed debate about school vouchers and federal funding for private education.
Concerns About College Costs Shaping More Students’ Decisions
By: Jeff Mictabor | 07/03/2008 | Education
Freshman concerns about college affordability are at a 35-year high, according to a recent survey by the Higher Education Research Institute.
Top-rated Online Colleges of 2008 Offer Financial Aid to Most Students
By: Jeff Mictabor | 29/02/2008 | Education
If your schedule demands flexibility, convenience and round-the-clock availability, an online college degree program might be able to accommodate you in ways that a brick-and-mortar school can’t.
Financial Aid 411: Know the Ground Rules for Paying for College
By: Jeff Mictabor | 18/02/2008 | Education
With college tuition prices on a steady incline that’s outstripping inflation, more and more students may need to rely on financial aid to help pay for school.
Saving on College Tuition
By: Jeff Mictabor | 08/02/2008 | Education
While tuition and fees have risen over the last decade at all types of colleges and universities, these costs have gone up the least at two-year schools, according to a recent report by the U.S. Government Accountability Office.
|
|
Education 
