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  Category: Articles » Education & Reference » Higher Education » Article

Variety of Student Loan Options Available through NextStudent

By Jeff Mictabor

As tuition at state colleges increases every year along with the increasing inflation rate, students and their parents often wonder how to pay for the entire cost of college. Oftentimes, federal student loans ( do not cover the full cost of tuition. However, NextStudent, the Phoenix-based premier education funding company, has a variety of ways to make it possible to receive that college degree.

Depending on the school, students can expect to pay either thousands or tens of thousands per school for attendance. It does not help that the Deficit Reduction Act of 2005 that passed in February cut approximately $12.7 billion to the federal student loan program. It also included one of the largest interest rate hikes on federal Stafford loans.

With all the bad news on student loans ( , there is a bright spot. NextStudent brings to students a host of loan options along with first-rate benefits and aggressive incentives to help make paying for college easier and less expensive.

NextStudent's PLUS Loan Program

NextStudent's PLUS Loans ( Parent Loans for Undergraduate Students are available to parents who want to help their children pay for college when federal aid is not enough. Parents can borrow 100 percent of college costs, less financial aid. The rate is as low as 6.25 percent when coupled with incentives such as a 2 percent interest rate reduction after the first 48 months of on-time payments, and a .25 percent reduction when parent borrowers repay their loans through Auto Debit.

Private Student Loans

Another option through NextStudent is Private student loans that can be applied for and received throughout the year. For student borrowers who qualify the loans can be disbursed quickly in as little as five business days. Private student loans ( are unsecured, credit-based and have no application fees. They can cover up to 100 percent of a student's education, less any financial aid. Although Private student loans can be applied for with or without a co-signer, NextStudent approves more Private loans ( with a qualified co-signer.

Federal Stafford Loans

The federal Stafford loan interest rate now is set at 6.8 percent. Through NextStudent's program, student borrowers can benefit from offerings including a 2 percent upfront cash rebate when they repay through Auto Debit and make one on-time monthly payment. Also available are a 1 percent rate reduction after the first 12 months of consecutive on-time payments and an additional 1 percent reduction after 24 months of consecutive on-time payments. An added bonus to the program is a .375 percent rate reduction when student borrowers repay through Auto Debit.

All of NextStudent's student loan programs have benefits and incentives and their own flexible terms on repayment. To help make it easy for student borrowers to get to college, typically there are a variety of repayment options so that students have one less thing to worry about while they are in school. In addition, NextStudent's Education Finance Advisers are knowledgeable and caring and help make the process of acquiring student loans no matter the type fast and easy.

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 as easy as possible. Learn more about Student Loans at
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.

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  Some other articles by Jeff Mictabor
July 1, 2006 Extension on Student Loan Consolidation Coming to an End
Have you ever received a piece of mail asking you immediately to call about your student loans? Or, have you ever filled out an online student loan consolidation form? If so, you still may ...

Repayment to Begin on Student Loans; NextStudent offers Options
Repayment to Begin on Student Loans; NextStudent offers Options For many recent college graduates the repayment period on their student loans is about to begin due to the end of the ...

Private Student Loans from NextStudent Help Students Stay on Course to Pay for College
FINAL inFormal Article 10/26/06 586 words Private Student Loans from NextStudent Help Students Stay on Course to Pay for College Although the cost of college is increasing, a college education still ...

PLUS Loans from NextStudent Allow Parents to Help Pay for College
FINAL Informal Article 08/02/06 621 words PLUS Loans from NextStudent Allow Parents to Help Pay for College Parents still are in the running to help cover the cost of their children's college education and ...

Private Student Loans from NextStudent Can Still be Dispersed Before Fall Semester Begins
With the approaching fall semester, many college-bound students still are in need of essential student loans ( for school. Whether students need funds to cover the full cost of ...

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