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  Category: Articles » Education & Reference » Article

Federal Stafford Student Loans from NextStudent Have Great Incentives on Already Low Rates

By Jeff Mictabor

After exhausting all forms of "free money" for college, such as scholarships and federal grants, the next best thing for students are federal student loans ( to help them pay for school. Federal Stafford student loans have low interest rates and are more appealing when they feature benefits and incentives, according to NextStudent, the Phoenix-based premier education funding company.

It is becoming much more difficult for some students to imagine their dream of a higher education, as college costs increasingly are on the rise along with the cost of tuition and other expenses. NextStudent believes that student loans ( should not be an extra burden to already cash-strapped college students, so the company offers incentives to make payments easier and more manageable.

. Federal Stafford loans do not require collateral or a credit check and payment is postponed until after graduation. There are no guarantee fees and students do not need a co-signer, these student loans have a low interest rate of 6.8 percent and are secured by the government.

NextStudent's Stafford Student Loan Incentives

NextStudent has professionally trained Education Finance Advisers who know all the ins and outs of the numerous student loan programs offered. They are available to assist student borrowers with all their questions about the Federal Stafford Student Loan program. Through NextStudent's Student Loan program, student borrowers receive:

A .375 percent reduction on their interest rate when they make payments through Auto-Debit
A 2 percent interest rate reduction: 1 percent after the first 12 months of consecutive on-time payments, with an additional 1 percent rate reduction after 24 months of consecutive on-time payments
A 2 percent upfront cash rebate, whereby borrowers receive the full amount they qualify for at disbursement. Borrowers must participate in Auto-Debit and make one on-time monthly payment to qualify.

Types of Stafford Student Loans

There are two types of Stafford student loans: subsidized and unsubsidized. To qualify for a subsidized Stafford student loan a student must show financial need. The government pays the interest while a student is in school and during grace periods and deferment. With unsubsidized Stafford student loans, students are responsible for the interest; however, payment is deferred until after graduation. All students are eligible for unsubsidized Stafford loans.


Federal Stafford loans are eligible for federal student loan consolidation ( . There are no prepayment penalties. Repayment typically starts six months after graduation. In addition, there are alternate available repayment options, including deferment and forbearance.

In order to be eligible for a federal Stafford student loan, borrowers must either be enrolled at least half time in a degree or certificate program, a citizen of the United States or an eligible noncitizen, current on existing federal education loans, and a high school graduate or have an equivalency diploma.

Federal Stafford student loans are affordable and can help students get through college without the worry of paying back student loans until after graduation. NextStudent's program offers a variety of incentives to make these student loans even more affordable and manageable. There is no reason not to take advantage of a great deal that helps students obtain their dream of a college education.

NextStudent offers one-on-one education finance counseling and has a portfolio of highly competitive education lending products and services including an online scholarship search engine, low and no-cost federal student loans ( ), parent loans, private loans, student loan consolidation programs ( and college savings plans.

The NextStudent Scholarship Search Engine, one of the nation's oldest and largest scholarship search engines, is updated daily, available free of charge, completely private and represents 2.4 million scholarships worth $3.4 billion.

For more information about NextStudent and its student loan programs, please visit the company's Web site 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
Borrower Beware: Not All Student Loan Consolidation Discounts Are the Same
Informal Article Melissa Bannon/Edited by Rhona 12/06/06 483 words Borrower Beware: Not All Student Loan Consolidation Discounts Are the Same NextStudent, the Phoenix-based premier education ...

Almost Anyone Can Qualify for Stafford Loans through NextStudent
Did you know that basically everyone can get an unsubsidized federal Stafford loan? Most people are more familiar with the low-interest ...

NextStudent Offers PLUS Loans for Graduate and Professional Students
According to Phoenix-based NextStudent, a premier education funding company, the proliferation of graduate and professional programs has led to new sources of education funding designed to benefit ...

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