Are you a May graduate with student loans looking at six-month grace periods that are ending sometime this month? If you’ve got multiple student loans going out of grace and into repayment, you’ll soon be faced with trying to juggle multiple bills, multiple due dates, and multiple monthly payments.
But you could eliminate the hassle of multiple student loan payments and help make your student loan repayment easier to manage by consolidating your eligible federal student loans with a Federal Consolidation Loan from NextStudent, a leading Phoenix-based education funding company.
?
What’s Federal Student Loan Consolidation?
Student loan consolidation allows you to combine your eligible federal student loans into one single consolidated loan with one lender, one monthly bill, and one convenient monthly payment. To be eligible to consolidate your student loans, you can’t currently be enrolled in school more than half time. The student loans you’re looking to consolidate must be in repayment, in a grace period, or in an authorized deferment or forbearance period.
?
Consolidating Federal Parent PLUS Loans
Parents with federal parent loans are also eligible to consolidate. Parents can consolidate the PLUS loans they took out to help you pay for school as soon as the PLUS loans have been fully disbursed and have entered repayment, even if you’re still in school full time. Although your parents can consolidate their PLUS loans, you won’t be able to consolidate your own student loans with your parents’ PLUS loans.
?
Take Advantage of All the Benefits of Federal Student Loan Consolidation
- No fees
- No cost to apply
- No credit checks
- No co-signers required
- No prepayment penalties
- Fixed interest rate
- Repayment terms up to 30 years
- One single monthly payment for all your eligible federal student loans
?
There are never any charges or credit checks to apply for a Federal Consolidation Loan with NextStudent. And there are no prepayment penalties, so you’ll never be charged extra fees just for paying more than the minimum each month or for paying off your student loan consolidation early.
Student loan consolidation lets you lock in a monthly payment with a
fixed interest rate. You may also be able to cut your monthly student loan payments by as much as 50 percent when you consolidate your federal
student loans with NextStudent. A federal student loan consolidation could extend the repayment term on your student loans by up to 20 years; by extending your payments over a longer repayment term, a consolidation loan could lower the amount you have to pay each month.
?
Private Student Loan Consolidation
If you have private student loans in addition to (or instead of) federal student loans, you won’t be able to consolidate your private student loans under the federal student loan consolidation program. But you may be eligible to consolidate your
private loans separately with a NextStudent Private Consolidation Loan, which offers the same convenience of a single consolidated loan for your private student loans.
?
NextStudent believes that getting an education is the best investment you can make, and we’re 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.
Related Articles
Grad Students Can Cover Their Educational Expenses With a Grad Plus Loan From Nextstudent
By: Jeff Mictabor | 17/08/2007 | Education
You may have seen the news about her. If not, you missed the headlines about Phyllis Turner, a 94-year-old great-great-grandmother from Australia who just graduated with her master’s degree in medical science. If this sweet, cane-toting granny can handle the rigors of a graduate education, it becomes a little harder to come up with an excuse for why you can’t.
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.
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.
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.
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.
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.
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.
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:
Latest Education Articles
The Vedic System Of Education
By: Victor Epand | 25/07/2008
A Gurukul provides a type of education that ranges from how to live a life, to cooking and to running a business, among other things.
What Are Student Loans and Where to Find Them
By: Daniel Millions | 24/07/2008
There are basically two places where you want to actively look for student loans. The first would be the federal government and the second would be private lenders. In order to be considered for any of the loans given out by the federal government, you are first going to fill...
The Chickasaw Language
By: Jacob Lumbroso | 24/07/2008
The Chickasaw language is derived from the Muskogean family and is spoken by Chickasaw inhabitants of Southeastern Oklahoma. It is one of the less common Native American languages, as only about 1,000 individuals speak it today.
Disadvantages of Public Schooling
By: Uchenna Ani-Okoye | 24/07/2008
When we consign our children to public schools, we feel satisfied that they are receiving 'quality education'. But, are we really getting our money are worth?
Nazi Jews:a Historical Paradox
By: Brian Cuban | 24/07/2008
Would it surprise anyone to learn that there were upwards of 150, 000 soldiers of partial Jewish descent serving in the Nazi army during World War II?
Homeland Security: The New Age of Counterterrorism
By: Henley-Putnam University | 23/07/2008
After the September 11, 2001 terrorist attacks on the United States, it became clear that much more needed to be done to protect America's freedoms and interests - both at home and abroad. The US Government, in response, created the Department of Homeland Security (DHS) over five years ago and...
Hypnotherapy Training Course
By: Khurram Zeb | 23/07/2008
Some things to keep in mind if you want to become a hypnotherapist.
The Hitler Pact: a Blood Oath
By: Brian Cuban | 23/07/2008
The Hitler newphews are alive and well in Long Island, NY. What can they tell us about their infamous uncle?
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 
