Parent Loans for Undergraduate Students are a Smart Financial Strategy
So, your child was accepted to the college of her dreams, and now it’s time to start looking for strategies to help fund that college education. NextStudent, a leading Phoenix-based education funding company, recommends Parent Loans for Undergraduate Students, or the PLUS Loan. This loan is federally backed.It allows parents to borrow up to the entire cost of their child’s education (less any federal aid), including books, supplies, and even a computer for the child to use when attending college at least half-time.
The PLUS Loan is not based on financial need or income, so parents cannot be turned down for making too little or too much money. However, parents and students must fill out the Free Application for Federal Student Aid (FAFSA) to be eligible, and can be turned down for an adverse credit history. After receiving the Student Aid Report (this is the result of the FAFSA) from the government, parents can apply for this PLUS loan. NextStudent offers a simple application process with E-Signature.
PLUS Loans Available Even after Tuition is Paid
Another important aspect of the Federal PLUS Loan is that it is available even if the parent already has paid tuition and most other education expenses. As with all federally backed student loans, the maximum interest rates on PLUS Loans are set by the federal government. However, NextStudent offers aggressive benefits on PLUS Loans that parents can earn to help save them money.
Benefits that borrowers can earn by funding their PLUS Loans through NextStudent include the following: a 3 percent cash rebate on the remaining principal balance of their loan after the first 12-months of consecutive on-time payments, a 2 percent interest rate reduction after the first 48 months of consecutive on-time payments, and a .25 percent interest rate reduction for electing to use auto-debit.
NextStudent Also Offers the Graduate PLUS Loan
The Graduate PLUS Loan for graduate and professional students is very similar to the traditional PLUS Loan. However, it allows those students, and not their parents, to borrow up to the entire cost of their postsecondary education (less any federal aid), including books, supplies and other educational costs.
NextStudent’s Graduate PLUS Loan Program for graduate and professional students also offers competitive benefits that can be earned by borrowers. Again, it is a federally backed student loan, and the maximum interest rate is set by the government.However, NextStudent’s Graduate PLUS Loan offers student borrowers the additional incentive of post-graduation loan repayment.
PLUS Loans for parents and graduate students are smart financial strategies that help cover the costs of a college education and offer financial flexibility. There are several repayment options, including deferred repayment while the student is enrolled in school at least half-time (Graduate PLUS only) and federal student loan consolidation eligibility.
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 at http://www.nextstudent.com/.
The PLUS Loan is not based on financial need or income, so parents cannot be turned down for making too little or too much money. However, parents and students must fill out the Free Application for Federal Student Aid (FAFSA) to be eligible, and can be turned down for an adverse credit history. After receiving the Student Aid Report (this is the result of the FAFSA) from the government, parents can apply for this PLUS loan. NextStudent offers a simple application process with E-Signature.
PLUS Loans Available Even after Tuition is Paid
Another important aspect of the Federal PLUS Loan is that it is available even if the parent already has paid tuition and most other education expenses. As with all federally backed student loans, the maximum interest rates on PLUS Loans are set by the federal government. However, NextStudent offers aggressive benefits on PLUS Loans that parents can earn to help save them money.
Benefits that borrowers can earn by funding their PLUS Loans through NextStudent include the following: a 3 percent cash rebate on the remaining principal balance of their loan after the first 12-months of consecutive on-time payments, a 2 percent interest rate reduction after the first 48 months of consecutive on-time payments, and a .25 percent interest rate reduction for electing to use auto-debit.
NextStudent Also Offers the Graduate PLUS Loan
The Graduate PLUS Loan for graduate and professional students is very similar to the traditional PLUS Loan. However, it allows those students, and not their parents, to borrow up to the entire cost of their postsecondary education (less any federal aid), including books, supplies and other educational costs.
NextStudent’s Graduate PLUS Loan Program for graduate and professional students also offers competitive benefits that can be earned by borrowers. Again, it is a federally backed student loan, and the maximum interest rate is set by the government.However, NextStudent’s Graduate PLUS Loan offers student borrowers the additional incentive of post-graduation loan repayment.
PLUS Loans for parents and graduate students are smart financial strategies that help cover the costs of a college education and offer financial flexibility. There are several repayment options, including deferred repayment while the student is enrolled in school at least half-time (Graduate PLUS only) and federal student loan consolidation eligibility.
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 at http://www.nextstudent.com/.
No comments:
Post a Comment