Student Loan Consolidation

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NextStudent Inc. to Explore Liquidity Options for Outstanding Auction Rate Notes
NextStudent Inc. announced today that it intends to explore alternatives for creating liquidity for the outstanding auction rate notes issued by NextStudent Master Trust I.

Last-Minute Withdrawal by Lenders Leaves Students Scrambling for Student Loans

On July 28, just a few weeks before the fall semester gets underway, some 40,000 college students in Massachusetts suddenly found themselves facing outstanding tuition bills with no money to pay them, when the nonprofit Massachusetts Educational Financing Authority announced that it wouldn’t be able to provide any private student loans for the upcoming semester. MEFA, the largest issuer of student loans to Massachusetts residents, had already suspended its federal student loan program back in April.

Faltering Economy Eroding Consumer Confidence in Student Loans

Some banking industry experts have long regarded the federal student loan program, established in 1965, as one of the most successful public-private partnerships ever created. A historically steady and reliable source of financing for parents and college students needing help paying for school, the federal student loan program also used to be a mostly risk-free and profitable venture for private lenders issuing government-backed student loans.

Post-9/11 GI Bill to Double Veterans Education Benefits Starting August 1

Some 1.6 million veterans of the Iraq and Afghanistan wars will see their GI Bill benefits more than double from approximately $40,000 to $90,000 as the new Post-9/11 GI Bill goes into effect today.

Student Loans Could Be Forgiven After 10 Years of Public Service

The government hopes a new loan forgiveness program will give students an incentive to consider a career in public service. In exchange for 10 years on the job in a field of public service such as public safety, education, or social work, the Department of Education will erase certain borrowers’ remaining federal student loan debt.

July 1 Brings Record-Setting Drop in Interest Rates on Federal Student Loans

As a result of the string of rate cuts made by the Fed over the last year, most parent and student borrowers who have existing variable-rate federal student loans will see their interest rates drop by 3 percent on July 1, 2008 — the biggest rate drop in the history of the federal student loan program.

Colleges Face Having to Alter Admissions Process Due to ‘Stealth Applicants’

A growing trend in how students apply to college is changing the landscape of college admissions, forcing admissions offices to rethink the number of students the school needs to admit and, in turn, how the school awards its available federal grants, student loans, work-study, and other limited financial aid funds.


Though the United States continues — at least for now — to be the top destination of choice for prospective international graduate students seeking their postbaccalaureate degree, it can no longer take for granted its ability to attract a growing pool of international applicants, according to a report by the Council of Graduate Schools released this month.

Colleges’ Search for New Student Loan Lenders Becomes Top Priority This Fall

As some 17 million students prepare for college in the fall, financial aid offices across the country are scrambling to find new student loan lenders to replace those that are no longer offering federal student loans at their institutions.

2008 Online College Rankings Spotlight Availability of Financial Aid

The Online Education Database recently released its second annual Online College Rankings list, highlighting the top 41 undergraduate online degree programs in the country.

Using College Federal Financial Aid Model for Private K–12 Education

At the end of January, in his final State of the Union address, President Bush revealed continuing plans for expanding federal funding of private K–12 schooling with the proposal of a $300 million Pell Grant for Kids program. This program, named after the long-running college Pell Grants program, would provide federal grants to low-income families with children in underperforming schools to help send those children to private, faith-based, or higher performing out-of-district public schools.

Financial Aid – Understanding Your Financial Aid Award Letter

With several offers on the table, trying to figure out which financial aid package is best for your particular situation can be difficult, especially if this is your first year dealing with the financial aid process. To help you decipher your financial aid award letters, here’s a step-by-step guide to what to look for and what those numbers mean.

College Costs Outpace Inflation, U.S. Falls Behind in Degree Attainment

According to a recent series of joint studies released by the National Center for Higher Education Management Systems and Jobs for the Future, the United States continues to fall behind other major industrialized nations in the percentage of its population that holds a college degree.

Consolidate Your Student Loans and Get up to 20 More Years to Repay

If you’re a former student or college parent with outstanding federal grad school or student loans, you may be able to get up to 20 more years to repay simply by consolidating your federal parent or student loans with the federal student loan consolidation program.

Keeping Study Abroad Affordable as Dollar Sags

With the U.S. dollar at an all-time low and continuing to lose value to other currencies, many college study-abroad programs are becoming increasingly expensive.

Consolidate Your Student Loans and Cut Your Monthly Payments

If you’re a graduate or college parent with outstanding federal college loans, you may be able to lower your monthly student loan payments by up to 42% simply by consolidating your federal parent or student loans. Read on to learn more about your options

Student Loan Consolidation: Turn Your Variable-Rate Student Loans Into One Fixed-Rate Loan

Although Federal PLUS Loans and Stafford Loans are currently issued at fixed interest rates, PLUS and Stafford loans issued prior to July 1, 2006, are variable-rate student loans. The interest rate on these college loans adjusts every year on July 1.

With PLUS Loans From NextStudent Parents Have Access to College Financing Throughout the School Year

As the fall semester draws to a close, families who still need money for college for end-of-semester expenses or for the upcoming spring semester may be able to get the help they need with a Federal PLUS Loan from NextStudent, a leading Phoenix-based education funding company. PLUS loans give parents of undergraduates a low-interest financing option that they can apply for throughout the school year (depending on the final deadline set by the school’s financial aid office). And PLUS financing is available even if your student doesn’t qualify for need-based grants or student loans.

Recent Graduates Having Trouble Making Their Student Loan Payments Should Consider Looking Into Their Deferment and Forbearance Options

If you graduated in May with federal Stafford student loans, you may be facing the prospect of adjusting your budget to accommodate new monthly student loan payments as your six-month grace periods end sometime this month. If you’re still doing temp work, looking for a job, or if you just got stuck with a lower-than-expected entry-level salary, it’s entirely possible that you’re not sure how you’re going to come up with the money you’re going to need each month to a meet a new monthly expense from student loans going into repayment.

Federal Student Loan Consolidation Could Help Make Recent Graduates’ Student Loan Repayment Easier to Manage

If you graduated in May with student loans, you may be facing six-month grace periods that are ending sometime this month. Once your grace periods are over, you’ll be entering repayment on those student loans that were in grace.

A NextStudent Guide to Deferment and Forbearance

Sometimes life can put a dent in your budget, making it harder to pay your everyday living expenses and monthly bills. When faced with the loss of a job, going back to school or sudden unexpected expenses like medical bills or car-repair costs, even the most responsible borrowers can find themselves struggling to make their student loan payments.

A NextStudent Guide to Responsible Borrowing

How you handle your finances while you’re in college and graduate school can have repercussions for years after you graduate. Every time you go over your limit on a credit card, apply for a new credit card, or miss a payment—whether it’s on your card, on your car, or on your student loan—it can count against your credit score. And a credit score can drop a lot faster than it’ll go back up: It can take years to repair damaged credit and a low credit score. Bad credit can keep you from being approved for a car or home loan, it can make a landlord choose not to rent to you, and it can even affect whether a potential employer decides whether or not to hire you.

A NextStudent Guide to Understanding the Different Types of Financial Aid

Here at NextStudent, we know that the world of student loans and college financing can be overwhelming and confusing, especially when all the financial aid literature throws around terms like “consolidation” and “subsidized,” and alphabet soups like FWS, EFC, PLUS and FAFSA. We always want our customers to feel comfortable with their education financing decisions, and we believe you should be informed about all your financial aid options. So to help you decipher your financial aid award letters and understand your school financing options, NextStudent, a leading Phoenix-based education funding company, offers this quick guide to the different types of financial aid.

A NextStudent Guide to Understanding Your Student Loan Repayment Options

Whether you’re a recent graduate with grace periods about to end, or a new student or parent of a new student just taking out your first student loan, you may have questions about repayment—what your options are, how long you have to repay, what happens if you have trouble making your payments.

Stafford Loans From NextStudent Provide Graduate Students With up to $20,500 a Year for Graduate Study

Graduate and professional degree students looking for ways to finance their graduate studies could get some of the financial aid they need with Federal Stafford Loans from NextStudent, a leading Phoenix-based education funding company.