Posted by
. :~ ShAh G . :~
at
3:31 PM
. :~ ALIVE FUN ARTICALS ~: .
For years, NextStudent, a Federal Family Education Loan Program (FFELP) participant, has been a major proponent of student loan benefits, assisting college students and their parents in funding their college dreams and helping them save thousands in new and consolidated loans in the process, according to the Phoenix-based premier education funding company.
In the past three years alone, 4,653,000 students have consolidated their federal student loans through FFELP lenders, receiving generous discounts and incentives that have placed these students on stable financial ground. Unfortunately, that may change shortly if proposed student loan legislation becomes law.
Benefits, Freedom to Choose at Stake
Currently, student borrowers have the ability to choose their lender and select the company that has the best reputation, customer service record and savings. If proposed student loan legislation becomes law, borrowers no longer will have the right to choose and would have to go with the federal government’s Federal Direct Lending Program (FDLP), which passes on very little real savings to borrowers.
When the government initiated the FDLP almost 17 years ago, proponents claimed that since private lenders would be cut out of the picture and consumers would deal directly with the government for loans, taxpayers would save. That has not proved to be the case; in fact the opposite is true. The FDLP has not saved taxpayers any money, but rather is operating at a $16.5 billion shortfall, a tab most likely to be picked up by taxpayers.
Using the government’s own accounting figures, cutting private lenders out of the equation actually may harm borrowers. When private lenders compete for business, they offer generous savings, discounts and other incentives that save students thousands of dollars over the course of their student loans.
NextStudent is a Champion for Student Savings
NextStudent began offering discounts and incentives to serve more customers. This move ultimately benefited borrowers by expanding these same benefits and savings industry-wide. NextStudent also became a major proponent in saving students thousands through the outstanding incentives offered through its federal consolidation loan program. For instance, NextStudent’s Standard Locked Federal Student Loan Consolidation Package offers a generous 1 percent LOCKED RATE reduction after borrowers make 36 consecutive on-time payments.
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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Posted by
. :~ ShAh G . :~
at
3:28 PM
. :~ ALIVE FUN ARTICALS ~: .
Now that spring break is a gently fading blip on college students’ radar, many students are prone to coast through the final weeks of the semester and forget about more serious considerations like planning for next year. High school seniors are in a different boat altogether, diligently working their way through their first Free Application for Federal Student Aid (FAFSA). In their case, it is wise for students and their parents to monitor where they are in the college funding process and plan accordingly, according to NextStudent, the Phoenix-based premier education funding company.
Complete FAFSA as Soon as Possible
NextStudent, a Federal Family Education Loan Program (FFELP) participant, encourages all students to fill out the FAFSA as soon as possible if they have not done so already. While it is not too late to apply, it is best to submit the FAFSA sooner rather than later. The closer the FAFSA is submitted to Jan. 1, the greater a student’s chance of getting the required financial aid, since some student loans are on a first-come, first-served basis.
Financial Aid Calendar
High school seniors shortly will begin receiving their acceptance letters, usually prior to May 1. In addition, students will receive an Award Letter from each of the schools to which they have been accepted that explains the type of aid and amounts for which they qualify.
In May, it is time for students to select the college they wish to attend and begin applying for such federal financial aid as Stafford loans and Parent Loans for Undergraduate Students (PLUS). Both types of aid are available through NextStudent and include a personally assigned Education Finance Advisor who will guide borrowers through the loan process from start to finish. To fill in the funding gap, private student loans also are available, with borrowing limits of up to $40,000 annually.
Online Tools Make Planning Easy
Another equally important avenue for students to explore is FREE money in the form of scholarships that can help cut the costs of financial aid that has to be repaid. NextStudent offers a FREE Scholarship Search Directory that has a total of 2.4 million scholarships from 42,000 funding sources with total awards of $3.4 billion.
There are many other resources that students may use to ensure that they quickly and easily navigate the financial aid process and receive the funds they need to achieve the education of their dreams.
First, students may want to review the following financial aid calendar to see where they are in the process so they can be sure they are on track for the upcoming school year:
Second, students may have specific questions regarding financial aid and their best options. To find these answers quickly and easily, visit the student resouces center. For an overview of college financial aid, where borrowers will receive a “guided tour” from a Financial Aid Advisor. Finally, once borrowers have assembled their entire financial aid package and know the types and amounts of aid for which they qualify, it is time to revisit their first-year college budget. NextStudent offers a FREE College Budget Calculator.
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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Posted by
. :~ ShAh G . :~
at
3:17 PM
. :~ ALIVE FUN ARTICALS ~: .
The NextStudent Student Loan Blog celebrates its second anniversary this year, and with the recent political changes in Washington continually propelling the student loan industry to the forefront of political debate, its purpose as an excellent watchdog of student loan news and changes in federal student loan policy is more relevant than ever.
Originally created in December 2005 as an additional educational resource for NextStudent customers interested in how legislation and Department of Education developments affect their college loans and financial aid, the blog’s very first post, titled “Start Applying for Financial Aid as early as Jan. 1,” helped kick off NextStudent’s commitment to technology and the role the Web plays in consumer education and real-time information gathering. NextStudent is a Phoenix-based premier education funding company.
Be In-The-Know About Student Loans
The NextStudent Student Loan Blog reports on student loan industry changes, as well as changes in policy that affect other areas of student life, including early decisions, “College Decides to Nix Early Binding Admissions,” and sports, “College Sports to Be Taxed?” and on student life. On the following days the blog covers the following topics: Monday, “Student Loan News;” Tuesday, “This Week in Student Loans;” Wednesday, “Student Loan Legislation;” Thursday, “Student Loan Advice;” and Friday, “Campus Life.”
The NextStudent Blog references industry periodicals including the National Council of Higher Education Loan Programs’ (NCHELP), Daily Briefing. The financial aid process in the United States can sometimes become a tangle of changing interest rates, applications and deadlines. However, NextStudent’s Student Loan Blog can help students and parents contextualize certain industry practices because it highlights the federal regulation discussions and changes that make the student loan industry so dynamic.
Families Get More with NextStudent
NextStudent’s personalized service extends beyond the Web experience and into the offline experience as well. Every customer who contacts NextStudent is assigned a personal Education Finance Advisor to walk them through the financial aid process from beginning to end and answer any and/or all questions about financial aid.
Additionally, NextStudent got its start promoting higher education and the search for scholarships and holds steadfast to its roots by offering a free Scholarship Search Engine that houses more than 42,000 college funding sources for over 2.4 million individually awarded scholarships valued at more than $3.4 billion. NextStudent knows the financial aid process begins with the search for “Free Money” and that scholarship programs help millions of students fund their college education dreams.
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.
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Posted by
. :~ ShAh G . :~
at
3:15 PM
. :~ ALIVE FUN ARTICALS ~: .
There is no question that college costs are escalating beyond the ability to pay for even those of modest means without taking out student loans. New proposed student loan legislation is under consideration to lower interest rates but yet has not been enacted. In addition, individual schools from Ivy League universities to community colleges are implementing their own unique policies and programs to help students finance their college education so they avoid further debt.
One simple but often overlooked method for making college more affordable regardless of the institution of choice is for students to become their own college funding resource by locating scholarships for school, according to NextStudent, the leading Phoenix-based education funding company.
Commitment to Research Results in Rewards
Students and their parents who make a commitment to perform exhaustive searches to find the funds they need for school may be surprised at how much FREE money they uncover, even though finding it may take some time. However, the investment may prove to be well worth it, as it will facilitate having to borrow fewer funds for college. A key resource to locate scholarships is NextStudent’s free, online Scholarship Search Directory.
Ample Resources for Funding College Education
Locating the perfect scholarship portfolio to help finance college is a simple, easy process when using the Scholarship Search Directory. With more than 2.4 million scholarships valued at over $3.4 billion from 42,000 sources, college students have innumerable choices when applying for awards.
Planning Reaps Results
While there certainly is no right or wrong way to go about it, if students search the directory in a systematic, thorough manner they will have a better chance of receiving the scholarships that best fit their needs. Here is a suggested process to follow:
* Start by searching for the college of attendance and the year of attendance by clicking on the “College(s)” and “Year of Study” links, respectively.
* Next, students may search according to their “State of residency” and then their parents’ “Corporate Employer(s).”
* Third, sort through the scholarships by “Academic Major.”
* Lastly, students may explore the remaining categories that apply to their particular situation. Examples here include: “Artistic Skill(s)” or “Athletic Skill(s),” “Honor(s),” “Ethnic Background(s)” or “Racial Background(s),” “Military or Veteran Affiliation(s),” “Religious Affiliation(s)” and “Other Affiliation(s).”
Specific Awards for Specific Situations
In addition, there are other individual categories suited for students who have specific needs. These include scholarships for those who fall under such categories as “Impairments” which include chronic medical conditions and other ailments, and even a category called “Unique Situation.” This particular category is one that often is overlooked by scholarship applicants. It includes awards to former students of a particular county school, awards for exchange students, or those with part-time or full-time jobs, and such unique awards for those who have been home-schooled or are Amateur Radio (Ham) Operators.
No matter what circumstances students are in or where their background, interests and talents lie, there are many opportunities for FREE money to be found through NextStudent’s Scholarship Search Directory. By dedicating a generous amount of time to find these awards, students may avoid having to borrow a significant amount of money to fund their college education.
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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Posted by
. :~ ShAh G . :~
at
3:14 PM
. :~ ALIVE FUN ARTICALS ~: .
This time of year is rife with high school seniors deciding which colleges they will attend the following year. Additionally, many other students are awaiting the approach of July 1, 2007, the date when new rates for existing variable rate student loans may take effect.
NextStudent, a leading Phoenix-based education funding company, recommends that borrowers begin to consider their student loan consolidation options as early as possible to lock in the best rates and terms. When students with multiple student loans consolidate their student loans with NextStudent, they are simplifying their lives with only a single payment required for their student loan portfolio. By consolidating, it is possible to reduce monthly payments by up to 60 percent and eliminate the hassle of dealing with multiple payments to different lenders.
Do Your Homework When Selecting a Consolidation Lender
Many borrowers use their colleges’ recommended lenders, more commonly referred to as the Preferred Lenders List, to select their consolidating lender. Instead, it is wise to check out ALL options, starting with a college’s financial aid office. Ask the financial aid administrator for a list of lenders in addition to the preferred or recommended lender list, and then research each company. In other words, do your homework, and do it well.
Since there are many significant differences with respect to the character, ethics and quality of a lender, borrowers must be selective and carefully choose their lender. They may want to consider and compare the reputation and integrity of the company, level of customer service provided, and the individual student loan consolidation incentives offered.
Students Benefit with NextStudent’s LOCKED Discount
Since the federal government sets the base interest rate on student loans, the only differences with consolidation loans are the incentives offered by each individual company. NextStudent is committed to providing outstanding customer service and the best incentives in the industry. In its efforts to extend significant savings to borrowers, NextStudent offers a 1 percent LOCKED interest rate reduction after 36 consecutive on-time payments.
Guaranteed for life. NextStudent borrowers retain their 1 percent LOCKED benefit for the life of the loan, while other lenders may revoke their benefits for a single late payment.
Easy to qualify. With NextStudent, borrowers maintain eligibility for the 1 percent LOCKED interest rate reduction even if they go into deferment or forbearance. Other lenders may disqualify borrowers for their benefits under these circumstances.
The following are two of NextStudent’s consolidation benefit packages from which students may choose to fit their particular circumstances and preferences.
NextStudent’s Federal Consolidation Loan Benefit Packages:
Package #1
* .25 percent interest rate discount for Auto-Debit payments
* 1 percent LOCKED RATE reduction after 36 on-time payments
Package #2
* .25 percent interest rate discount for Auto-Debit payments
* 2 percent interest rate discount after 36 on-time payments (not locked)
Qualifying over the phone takes just a few minutes with the assistance of a borrower’s personally assigned Education Finance Advisor, who is there to answer any questions and guide the student through the entire student loan consolidation process.
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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