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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, the 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 aid.
Student borrowers can borrow as much as the full cost of college, less any financial aid they receive. 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, one of the additional benefits of its Private Student Loan Program is that borrowers can apply for an unsecured and credit-based private loan at any point during the school year. As a result, NextStudent’s undergraduate and graduate private student loans can help students cover not only tuition, fees 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 monies they receive by distributing funds directly to the borrower. Additionally, student borrowers may qualify with or 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 term extended to 25 years. The minimum loan payment is $25.
Accessible Funds for Students
NextStudent’s undergraduate and graduate private student loans are easily accessible to many students. To be eligible, 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 also are available for distance learning and international students.
NextStudent offers private student loans throughout the year for eligible undergraduate and graduate students who need the funds to help them achieve the dream of a college education. There are no deadlines or time constraints so that student borrowers can receive the funding they need no matter the time of year.
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.
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